- 6,134
Office window? Naw, I go for the other window!
Prosperity-Time for another Look
- Thread starter Agentguy5
- Start date
- 1,912
- 17,072
Our agency has over 90% 13th month persistency with KSKJ. They do not offer SS draft dates BUT they also do not offer debit express card payers. Any company that doesn't take debit express cards is going to have better persistency than one that does. We have similar persistency with Trinity/Family Benefit. We do more business with KSKJ and Trinity/Family Benefit than any other IMO so I would say that's a pretty good sample size. In fact KSKJ had me review our 5-worst agents recently (as far as persistency) and figure out where they were failing. 4 of the 5 had persistency above 80%. With most companies 80% is acceptable.
I think that persistency is affected more by how competitive a company's premiums are than Social security draft dates. BUT SS draft dates are HUGE when you have a client that is financially disfunctional. (hint: No one has a debit express card unless they are completely financially disfunctional.) I agree that SS draft dates are nice. But I wouldn't choose my company I place most cases with by that feature. BUT in certain homes I would ONLY write a policy that offered that feature. It's not hard to figure out the ones that need it.
- 17,072
He's talking about FEX meaning the FexContracting agency not FEX meaning FE. I've noticed it's very common now for agents to say FEX when they mean FE. I always think they are talking about our agency until I read closer. We have become like kleenex and have become a generic term.
tribetime32
Guru
- 377
At the end of the day, clients are going to buy what you sell them. Period. If they like you and you articulately lead them down a path, they're gonna buy. Our job is to sell the products we believe in. KSKJ, Prosperity, blah blah blah. The client doesn't really care for the most part . They care about how you made them feel when they made an important decision for their family.
Personally, I'm choosing a company that does true social security billing so I'm not anxiously awaiting NSF notifications when the 1st falls on the weekend. The hard part should be getting in front of people, not keeping them on the books.
Personally, I'm choosing a company that does true social security billing so I'm not anxiously awaiting NSF notifications when the 1st falls on the weekend. The hard part should be getting in front of people, not keeping them on the books.
- 1,912
So true.
- 7,012
Remember the days when we'd have to pick the latest the 2nd Wednesday could be for the month?
Then having to explain to the prospect that on almost every month, they would get their SS check 3-6 days before the payment would come out.
Actually made replacing lapsed policies happen much more often. New/math-challenged agents would set the following months draft date on whenever the next Wednesday payment would be on the following month.
So it would be say the 12th, and that first draft would go through fine. Then the next month, they wouldn't get paid until the 13th, but the draft came out on the 12th lol. NSF.
Most agents just aren't that smart. :/
Much easier to tell them, "Find out their SS date, 1st, 3rd or 2/3/4 Wednesday and ONLY choose those dates using a company with true SS billing."
Then having to explain to the prospect that on almost every month, they would get their SS check 3-6 days before the payment would come out.
Actually made replacing lapsed policies happen much more often. New/math-challenged agents would set the following months draft date on whenever the next Wednesday payment would be on the following month.
So it would be say the 12th, and that first draft would go through fine. Then the next month, they wouldn't get paid until the 13th, but the draft came out on the 12th lol. NSF.
Most agents just aren't that smart. :/
Much easier to tell them, "Find out their SS date, 1st, 3rd or 2/3/4 Wednesday and ONLY choose those dates using a company with true SS billing."
- 4,122
I absolutely support Social Security drafting but it's also not a perfect system. I woke up to 4 NSF emails from Transamerica and American Amicable.
For the record I also have an 80% 14 month persistency with Americo. A company with notoriously slow drafting and above average
premium.
regardless this is a fun, well intentioned debate that I hope we continue.
For the record I also have an 80% 14 month persistency with Americo. A company with notoriously slow drafting and above average
premium.
regardless this is a fun, well intentioned debate that I hope we continue.
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