Never heard this talked about. Transamerica applies your renewals toward your Advance debt.

[BibH]

I never really looked till recently . I get around $700 a month in renewals from trans. One month i didn't do any business but i noticed i didn't get paid even though i had $700 in renewals. I called them and they told me your renewals go toward your advanced commission debt. So if your writing a lot of business and getting advancement you'll never see your renewals till you go to as earned or stop writing business and your advances are paid off. i know of no other company that does that. Thats Bs

 

[suranceman]

I never really looked till recently . I get around $700 a month in renewals from trans. One month i didn't do any business but i noticed i didn't get paid even though i had $700 in renewals. I called them and they told me your renewals go toward your advanced commission debt. So if your writing a lot of business and getting advancement you'll never see your renewals till you go to as earned or stop writing business and your advances are paid off. i know of no other company that does that. Thats Bs

You signed their contract before you wrote business with them. What's BS is you assumed something; turned out to be wrong and are blaming the company that notified you up front in writing.

Look in the mirror.

 

[shonceman]

I never really looked till recently . I get around $700 a month in renewals from trans. One month i didn't do any business but i noticed i didn't get paid even though i had $700 in renewals. I called them and they told me your renewals go toward your advanced commission debt. So if your writing a lot of business and getting advancement you'll never see your renewals till you go to as earned or stop writing business and your advances are paid off. i know of no other company that does that. Thats Bs

So write them as earned. Problem solved.

 

[goillini52]

I never really looked till recently . I get around $700 a month in renewals from trans. One month i didn't do any business but i noticed i didn't get paid even though i had $700 in renewals. I called them and they told me your renewals go toward your advanced commission debt. So if your writing a lot of business and getting advancement you'll never see your renewals till you go to as earned or stop writing business and your advances are paid off. i know of no other company that does that. Thats Bs

Hey Petey, just one more thing to not like about Tranny....but I'll bet you keep using them.

 

[DHK]

Read your contract or advancing commissions agreement and look for "Right to offset" language.

If you had two bank accounts at the same bank - one with $5,000... and one that was overdrawn by -$250... did you know that the bank has the right to transfer the amount from the larger balance if you don't do it yourself (or have overdraft protection) after a period of time? It's called the "right to offset".

Makes perfect sense to me.

 

[goillini52]

Read your contract or advancing commissions agreement and look for "Right to offset" language.

If you had two bank accounts at the same bank - one with $5,000... and one that was overdrawn by -$250... did you know that the bank has the right to transfer the amount from the larger balance if you don't do it yourself (or have overdraft protection) after a period of time? It's called the "right to offset".

Makes perfect sense to me.

I guess that Sir Herbie "can't handle the truth".

 

[Life Hawk]

I never really looked till recently . I get around $700 a month in renewals from trans. One month i didn't do any business but i noticed i didn't get paid even though i had $700 in renewals. I called them and they told me your renewals go toward your advanced commission debt. So if your writing a lot of business and getting advancement you'll never see your renewals till you go to as earned or stop writing business and your advances are paid off. i know of no other company that does that. Thats Bs

I think that's terrible. The next thing you'll know, they will be telling us is that they don't want to cover certain people. Insurance companies are so fraudulent, and all they care about is money so that they can keep running.

 

[FinalExpenseDojo.com]

They also do the same thing with Direct Express business instead of giving you payment like SNL where you get it every single month.

They can set all these crazy rules up automatically when it is convenient to them but yet they cant develop an instant decision eapp.

Mind = blown.

 

[Life Hawk]

They can set all these crazy rules up automatically when it is convenient to them but yet they cant develop an instant decision eapp.

I understand what you are saying... but in the case of some of my clients... I think they give a cooling off period to see if they get arrested for something over the next few days before they decide to apply coverage...

 

[Migshannon]

I never really looked till recently . I get around $700 a month in renewals from trans. One month i didn't do any business but i noticed i didn't get paid even though i had $700 in renewals. I called them and they told me your renewals go toward your advanced commission debt. So if your writing a lot of business and getting advancement you'll never see your renewals till you go to as earned or stop writing business and your advances are paid off. i know of no other company that does that. Thats Bs

Why do you think they set it up this way?