Shonceman!

shonceman said:
Big problem cases always seem smaller if you've got plenty of production. Much easier to let that $30 go if you've written 5 x that amount today!
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With the ordinary home service accounts that you have it is a lot easier to let an account go. It doesn't cost you anything other than future commissions you would earn. But, in olden days if a debit agent lapsed a case, he was charged for it. With some companies it cost the agent the same amount as he would earn with a new sale of the same premium. That made it a lot harder just to write a case off.
 
Hate to admit it. But, i miss my old debit days!
Yes, i had a great area. I'd say about 30-40% of my time was collections about 30-40% selling and about 30-40% goofing off. LOL!!!
I went from making around 20K to 50K in 7 years. Keep in mind this was back in the 80's Plus, i am considered a retiree , I will draw around 6-700 per month for life at age 65. Not bad for 7 years.
 
rousemark said:
With the ordinary home service accounts that you have it is a lot easier to let an account go. It doesn't cost you anything other than future commissions you would earn. But, in olden days if a debit agent lapsed a case, he was charged for it. With some companies it cost the agent the same amount as he would earn with a new sale of the same premium. That made it a lot harder just to write a case off.
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Been there and done that! I still have nightmares about my time at United and Reliable. Often out late evenings chasing people down. Full chargeback (from my reserve account) no matter who wrote it or how old the policy was. Independent Life wasn't as bad, but still full chargeback if the policy was less than 5 years old. At least with AGLA, if the policy was past 13 months it only hit your growth bonus, not FYC.

Still, even though it was harder to stay ahead under those contracts, production was always the answer. If you had a $30 case coming off the book it hurt for sure. But getting out there and writing $100 made it hurt a lot less. On the debit it's all about premium growth, no matter what kind of contract you're working with.
 
shonceman said:
Been there and done that! I still have nightmares about my time at United and Reliable. Often out late evenings chasing people down. Full chargeback (from my reserve account) no matter who wrote it or how old the policy was. Independent Life wasn't as bad, but still full chargeback if the policy was less than 5 years old. At least with AGLA, if the policy was past 13 months it only hit your growth bonus, not FYC.

Still, even though it was harder to stay ahead under those contracts, production was always the answer. If you had a $30 case coming off the book it hurt for sure. But getting out there and writing $100 made it hurt a lot less. On the debit it's all about premium growth, no matter what kind of contract you're working with.
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I made out GREAT on one years growth bonus! I had almost 20K in cash money! Sadly, I got hit the next 2 years with lapse after lapse.
Shoot cookies! We used to joke about buying a defiblator to keep clients alive.
 
I started with Liberty National on 10/3/1977 and quit 14 years later on 10/3/1991. Made about $20,000 my first year as an agent in Crestview, FL and when I left I was making around $70,000 as a sales manager in Jackson, MS. When I started receiving SS benefits at age 62 I got a letter informing me that I was due a pension from Liberty National. News to me so I called them and was told that at age 65 I would receive $352 monthly or could get a lump sum of approximately $75,000. I was there twice as long as you and my check will be half as much. Something ain't right.
 
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