Someone told me GCU pulled the plug on fe sales

[theinsuranceman]

Evidently one thing it means is that they pull the product!

Then why do they say "the commission system collapses" rather than just say "they pulled the product"?

Maybe the commissions being paid out were too high with the underwriting risks being accepted with the lower premiums?

 

[rousemark]

I was thinking the very same thing.

Me too.. Never heard the phrase the commission system collapsed before. That sounds like commissions are no longer being paid but I don't think that is what they mean.

 

[Newby]

They were screwing up the commissions. Weren't paying correctly. It's good that they shut down to focus on getting the agents paid correctly without adding more to the problem.
Hopefully they will improve their systems and come back. If not, well no one wants to sell a product if they pay system is not reliable.

 

[theinsuranceman]

They were screwing up the commissions. Weren't paying correctly. It's good that they shut down to focus on getting the agents paid correctly without adding more to the problem.
Hopefully they will improve their systems and come back. If not, well no one wants to sell a product if they pay system is not reliable.

Seems like that would make agents always be suspicious when they receive their "difficult to read" monthly commission statements. Us agents are so sensitive when it comes to our $$$.

 

[Newby]

Seems like that would make agents always be suspicious when they receive their "difficult to read" monthly commission statements. Us agents are so sensitive when it comes to our $$$.

People are funny that way. They like to be paid. Lol
GCU wasn't cheating anyone. But their payouts were messy and you had to follow up with them. Their systems were lacking. I'm sure they are investing in a better accounting system or something to fix the issue.

 

[goillini52]

People are funny that way. They like to be paid. Lol
GCU wasn't cheating anyone. But their payouts were messy and you had to follow up with them. Their systems were lacking. I'm sure they are investing in a better accounting system or something to fix the issue.

And 4 1/2 months later, no progress. I picked them up right before this problem and haven't used them. Now, I don't think I'd feel comfortable using them even if they ever get it fixed..



Eternal Advantage Final Expense Commission Update
As we mentioned in the last communication, we are still dealing with the outstanding 27% of issues. Unfortunately, we continue to encounter more problems with this final segment than we anticipated originally. We will continue to keep you updated as we progress.

At this time, we do not have a date when we will be relaunching the Final Expense product. We will keep you posted.

Once again, thank you for your patience and understanding.

 

[Baseball7]

Least i'm getting paid again

 

[Allen Trent]

And 4 1/2 months later, no progress. I picked them up right before this problem and haven't used them. Now, I don't think I'd feel comfortable using them even if they ever get it fixed..


View attachment 7778
Eternal Advantage Final Expense Commission Update
As we mentioned in the last communication, we are still dealing with the outstanding 27% of issues. Unfortunately, we continue to encounter more problems with this final segment than we anticipated originally. We will continue to keep you updated as we progress.

At this time, we do not have a date when we will be relaunching the Final Expense product. We will keep you posted.

Once again, thank you for your patience and understanding.

Not so bad, only 27% issues. Focus on the positive 73%. LoL

 

[Life Hawk]

Not so bad, only 27% issues. Focus on the positive 73%. LoL

They are a joke!

 

[goillini52]

They are a joke!

Their roll out kind of reminds me of AFLAC's last foray in the Med Supp business...short lived and a f*cked up mess.