Social Security Billing Form

Speck

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Realized once again that the SS billing form can be a pain in the rear if the policy doesn't go through in time. Had a good size TA policy that ended up approving on the third Wednesday of this month which was also the SS draft date. Since it didn't go through a couple days before the SS draft date it's going to be next month before it pays commissions and I imagine before the client has coverage.:mad: Normally if it's within a week of the draft date I'll just hold the SS billing form back until it gets approved and then I'll submit the SS form to take effect the following month. Guess I'll be fairly bright one day if I keep on living and learning.:skeptical:
 
Realized once again that the SS billing form can be a pain in the rear if the policy doesn't go through in time. Had a good size TA policy that ended up approving on the third Wednesday of this month which was also the SS draft date. Since it didn't go through a couple days before the SS draft date it's going to be next month before it pays commissions and I imagine before the client has coverage.:mad: Normally if it's within a week of the draft date I'll just hold the SS billing form back until it gets approved and then I'll submit the SS form to take effect the following month. Guess I'll be fairly bright one day if I keep on living and learning.:skeptical:

Trans says they need 10 days to set up the SSB billing. No other company needs that much time but Trans does. In a case such as you described it will always be the next month. If you were to write a Trans today and the SSB date is the 1'st or 3rd then those won't happen till March. No way they can do the 1st or 3rd using the SSB form. If you don't use the SSB form then they can be drafted next week.

As for the person being covered, Trans says they are covered from approval and it even says so in the policy.

I was told by another agent that Trans reversed course on that when he had a person die after approval but before the first draft.

That's contrary to what it says in the policy but that's how he said it went down.
 
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Had this come up today on a TA Save Age and SSBO. Told the lady to save age using the live check, draft 2/1 and I'll put her on SSBO for March. :::crickets::: from her side of the convo
 
Had this come up today on a TA Save Age and SSBO. Told the lady to save age using the live check, draft 2/1 and I'll put her on SSBO for March. :::crickets::: from her side of the convo

That's one way around their 10 day rule. Now, will they follow through?
 
Have had success doing that as well. I don't normally tell TA that I'm sending the SS form later though....don't want them to get confused and just want to get the policy issued pronto. Once that happens I'll send the SS form.
 
Realized once again that the SS billing form can be a pain in the rear if the policy doesn't go through in time. Had a good size TA policy that ended up approving on the third Wednesday of this month which was also the SS draft date. Since it didn't go through a couple days before the SS draft date it's going to be next month before it pays commissions and I imagine before the client has coverage.:mad: Normally if it's within a week of the draft date I'll just hold the SS billing form back until it gets approved and then I'll submit the SS form to take effect the following month. Guess I'll be fairly bright one day if I keep on living and learning.:skeptical:

If it hurts to wait one month on the commissions from one case, you need to get to work and write more applications.. :yes:
 
Waiting such a length of time to get paid may not hurt but it sure frustrating wait by the end of the month you're looking at thousands of dollars of advanced commissions. Not to mention it is sure a lot easier to track when policies are Paid on issue and not 15 policies paid on the first draft.
 
Waiting such a length of time to get paid may not hurt but it sure frustrating wait by the end of the month you're looking at thousands of dollars of advanced commissions. Not to mention it is sure a lot easier to track when policies are Paid on issue and not 15 policies paid on the first draft.

You should try as earned with them. They only pay those once a month. I wrote one Nov 1 that was a DE payer for the 3rd. That means he didn't pay until Dec 3. I got my first as earned pay on it on Jan 7.

Settlers is the same way. They pay their as earned agents once a month. SNL now pays twice a month.
 
Trans says they need 10 days to set up the SSB billing. No other company needs that much time but Trans does. In a case such as you described it will always be the next month. If you were to write a Trans today and the SSB date is the 1'st or 3rd then those won't happen till March. No way they can do the 1st or 3rd using the SSB form. If you don't use the SSB form then they can be drafted next week.

As for the person being covered, Trans says they are covered from approval and it even says so in the policy.

I was told by another agent that Trans reversed course on that when he had a person die after approval but before the first draft.

That's contrary to what it says in the policy but that's how he said it went down.

Read the conditional receipt on TA's application. It does NOT say they are covered upon approval. It clearly states they are covered upon receiving the "first initial premium for that application has been received by the company or an agent acting on its behalf (the "effective date")"

To your own definition - you're a liar!
 
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