Social Security Debit Card

[NewInsuranceLady]

I'm not sure of the exact name, but basically its a debit card that is has social security benefits direct deposited. It has an account number and routing number. Do any Final Expense carriers accept this as a form of payment? If they do, do they advance or are commissions as earned?

 

[quackattack99]

Security National. I think commissions are advanced

 

[eddie]

Liberty Bankers Life. They also advance or you can choose as earned.

 

[Agentguy5]

I use SNL.. There is a small monthly fee for the use of a Credit Card or the SS Direct Deposit card.. about $4 for every $50 in monthly premium... As soon as the first month premium is drawn, they advance 9 months... This is not necessarily good since my experience is that when the client uses Direct Deposit, they tend to cancel due to affordability... I like em to have a checking account!

 

[HoosierLife]

Doesn't settlers life do it?

 

[jacobtn]

I thought it was a violation of Visa and MC merchant policy to charge a fee to accept their card? It is in their agreement the merchants sign to accept their cards.

I use SNL.. There is a small monthly fee for the use of a Credit Card or the SS Direct Deposit card.. about $4 for every $50 in monthly premium... As soon as the first month premium is drawn, they advance 9 months... This is not necessarily good since my experience is that when the client uses Direct Deposit, they tend to cancel due to affordability... I like em to have a checking account!

 

[HoosierLife]

I thought it was a violation of Visa and MC merchant policy to charge a fee to accept their card? It is in their agreement the merchants sign to accept their cards.

I used to sell c.c. Processing and that was true. I think it just changed though.

 

[Rearden]

Law just changed to allow it.

5Star will do it.

 

[rousemark]

Doesn't settlers life do it?

Don't think so .. .