MedSupp commission when enrolling early

Jun 4, 2019

  1. J2727
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    J2727 Super Genius

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    If you enroll someone in a MedSupp months before they T65...

    Is the advanced commission paid at that time or on the effective date?

    Does the monthly renewal commission start on the anniversary of the app date or the effective date?

    Does it vary by carrier?
     
    J2727, Jun 4, 2019
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  2. David Taylor Jr
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    David Taylor Jr Guru

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    Varies by carrier.
     
  3. goillini52
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    goillini52 KeepAmericaGreat...Eat Bacon & BUILD THAT WALL!!!

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    Most pay upon issue when the 1st draft is made. If you have them draft the 1st premium immediately, you'll get paid early. :yes:
     
  4. David Taylor Jr
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    David Taylor Jr Guru

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    Of course if they cancel.....
     
  5. goillini52
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    goillini52 KeepAmericaGreat...Eat Bacon & BUILD THAT WALL!!!

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  6. Bevo
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    Bevo Guru

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    Then you didn't deserve the commission anyway.
     
    Bevo, Jun 4, 2019
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  7. David Taylor Jr
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    David Taylor Jr Guru

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    Right but if they cancel before the policy ever went into effect you lose that commission. I hate getting paid early on things. I don't like advances either. Although, it is not as bad in the Senior Market as it is the <65 Market.
     
  8. goillini52
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    goillini52 KeepAmericaGreat...Eat Bacon & BUILD THAT WALL!!!

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    Too each his own. Like Bevo said, if they cancel we don't deserve the premium. I can't recall ever having one cancel after taking the Med Supp early. I always make it clear to them that now they can ignore all the phone calls, junk mail and misleading MAPD commercials on T.V., because they have it taken care of now and they already have the best with the best. :biggrin:
     
  9. David Taylor Jr
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    David Taylor Jr Guru

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    I've never had it happen in the Medicare market. But like I said, something they should be aware of.
     
  10. goillini52
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    goillini52 KeepAmericaGreat...Eat Bacon & BUILD THAT WALL!!!

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    Cancellations are a part of the business. It's a chance we take everytime we write a policy. :yes:
     
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