No more Assurity FE

[DayTimer]

I have it on good authority that at least they pay attention to the market place. So with that in mind hey Royal neighbors adopt true Social Security billing

I had to run around to save 4 NSF's in September - All RNA and all because they won't do what Trans and FBL/Trinity will. I write MUCH less RNA than I used to write.

 

[FinalExpenseDojo.com]

I'm sure the carriers can't comprehend that there are actually people in America that don't have bank accounts & will NSF if we don't beat them to the bank.

I know that before I got into FE I used to read this forum and think everyone was just messing around. It really is a completely different world!

 

[HoosierLife]

Yes. Carriers. All of YOU. Add True Social Security Billing!

 

[HoosierLife]

Make sure y'all mention this when you talk to your reps. Some of them just aren't getting it.

 

[Allen Trent]

Make sure y'all mention this when you talk to your reps. Some of them just aren't getting it.

Or, they have analyzed the business & prefer that policies lapse out after a period of time rather than stay in force until death claim. Who knows, they obviously prefer they dont lapse out for the 1st few years, but maybe putting on true SS billing would assure they stay active until death claim & that is not built into their pricing & actuarial assumptions

 

[rousemark]

Or, they have analyzed the business & prefer that policies lapse out after a period of time rather than stay in force until death claim. Who knows, they obviously prefer they dont lapse out for the 1st few years, but maybe putting on true SS billing would assure they stay active until death claim & that is not built into their pricing & actuarial assumptions

Not necessarily.. The policy owner can stop the billing at anytime..

 

[Baseball7]

I don't believe that at all I think the lack of true Social Security billkng comes from a disconnect between the company and the people that sell the product along with the people that buy it.

 

[Allen Trent]

I don't believe that at all I think the lack of true Social Security billkng comes from a disconnect between the company and the people that sell the product along with the people that buy it.

I would agree that could be the case, but I am 100% certain they have lapse assumptions that need to happen for the accuracy of their pricing & long term stability/profitability. Final expense policies may be similiar to LTC of the past where it is really valued by the customer who wont lapse or call in to cancel unless they face dire financial issues. Look at how that has played out with all the issues in LTC pricing & carriers leaving the market place. Some carriers may be making a business decision to not make it too easy to make sure premiums are always paid, especially if they believe they are insuring a pool of higher risk customers. I can guarantee you that the actuaries at the carriers have much deeper conversations about this than many field producers believe. Your interactions are normally with their field marketing folks & wholesalers who want maximum sales & maybe even make commissions & bonus's on sales. But the actuaries think differently & fear phenomenal persistency of the products

 

[Baseball7]

We're not talking about 7 to 10 year like persistency concerns they may have were talking carriers that because of their lack of quality billing business doesn't stay on the books for 12 months. For god sake we have company is that still don't even do Wednesday billing

 

[Allen Trent]

We're not talking about 7 to 10 year like persistency concerns they may have were talking carriers that because of their lack of quality billing business doesn't stay on the books for 12 months. For god sake we have company is that still don't even do Wednesday billing

yeah, that is definitely an issue in that case. at a minimum they should be contracting a 3rd party billing entity like several worksite small carriers do that don't have the resources or IT budgets to create or buy the needed software to link up with their policy systems