A client's 2yr old policy is 40 days past due. I called and she said she hoped to catch it up when she gets her paycheck. I then called Settlers to see when the policy would lapse and if I would need a reinstatement. They informed me the policy "technically had a 30 day grace period" but would not lapse until it 90 days past due. I asked what would happen if she died between the 31st day and the 90th day and they stated they would still pay the claim . One more example of a great little company going the extra mile. Most companies would not pay outside the 30 day grace period stated in the policy.
Settlers Grace Period
- Thread starter rousemark
- Start date
That's nice to hear.
I picked up an IMO level contract with them a little over a month ago. Just last week the contracting on 4 of my agents went through. We're planning on putting some business their way.
I liked that they will bill monthly direct. In the senior market, I come across people once in a while that won't have a bank account. Probably won't be the best persistancy, but I rather write it than pass it up.
I picked up an IMO level contract with them a little over a month ago. Just last week the contracting on 4 of my agents went through. We're planning on putting some business their way.
I liked that they will bill monthly direct. In the senior market, I come across people once in a while that won't have a bank account. Probably won't be the best persistancy, but I rather write it than pass it up.
Don't forget they changed the POS interview process and now can give you an answer at the POS.
The 10pay is a go to product for me which beats the rates of Monumentals. and I may now start writing some of the whole life due to the POS interview process change.
The 10pay is a go to product for me which beats the rates of Monumentals. and I may now start writing some of the whole life due to the POS interview process change.
- 2,758
They hold it until the 1st draft.
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Sent from some woman's closet using my EVO.
- Thread starter
- #6
Which goes along with my philosophy of Insurance Sales.. "No money, no sale"... I never count a sale as "made" until the first premium is paid.
- 2,758
Or maybe even the 12th.
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Sent from some woman's closet using my EVO.
- 5,305
What about an Automatic Premium Loan feature?
- Thread starter
- #10
Would work if the policy had enough CV to pay the premium.. This one doesn't.
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