SSI Billing

[shonceman]

Why can't the agent pay the $25 bank fee for Ms Jones? After all he is replacing to get a new advance on her. Maybe the agent is broke? Calling the bank is more fool proof than calling the carrier.

I don't replace policies so maybe I'm missing something here.

Not sure the state doi would look favorably on an agent paying a bank fee when replacing.

 

[theinsuranceman]

Not sure the state doi would look favorably on an agent paying a bank fee when replacing.

I would have no idea on that one. The DOI handles policy holder complaints. I highly doubt Ms. Jones will call the DOI complaining about this, wouldn't you agree?

 

[shonceman]

I would have no idea on that one. The DOI handles policy holder complaints. I highly doubt Ms. Jones will call the DOI complaining about this, wouldn't you agree?

From your state's DOI:

N.C. Gen. Stat. § 58-33-85 provides an absolute bar to any service or any thing of
value wherein those services or goods are neither (a) referenced specifically or
generally in the contract of insurance, nor (b) are advertising in nature.

https://www.ncdoi.gov/documents/agent-services/anti-rebating-statute-information/open

 

[theinsuranceman]

From your state's DOI:

N.C. Gen. Stat. § 58-33-85 provides an absolute bar to any service or any thing of
value wherein those services or goods are neither (a) referenced specifically or
generally in the contract of insurance, nor (b) are advertising in nature.

https://www.ncdoi.gov/documents/agent-services/anti-rebating-statute-information/open

Makes sense.

 

[DonP]

I've rarely seen an insurance carrier that hasn't stoped a draft from the client calling if you call within 48 hrs of the draft . I've even seen many that if you call the day before thats enough time to pull it off draft

 

[goillini52]

Why can't the agent pay the $25 bank fee for Ms Jones? After all he is replacing to get a new advance on her. Maybe the agent is broke? Calling the bank is more fool proof than calling the carrier.

I don't replace policies so maybe I'm missing something here.

Sounds like rebating...illegal.

 

[jdeasy]

You don't seem to realize stopping the draft does not mean cancel the policy. Me thinks you are the one that is clueless.

I fully realize that. But a responsible agent would never stop a draft or advise to stop a draft before being approved by the proposed company.

You simply do not know what you are doing.

You can pimp. But you are not an agent.

 

[jdeasy]

Why can't the agent pay the $25 bank fee for Ms Jones? After all he is replacing to get a new advance on her. Maybe the agent is broke? Calling the bank is more fool proof than calling the carrier.

I don't replace policies so maybe I'm missing something here.

That has to be the most stupid thing you have ever posted here. And that's a tall hill to climb.

 

[jdeasy]

I would have no idea on that one. The DOI handles policy holder complaints. I highly doubt Ms. Jones will call the DOI complaining about this, wouldn't you agree?

So, it's ok to be illegal as long as no one complains?

 

[jdeasy]

I agree that the agent should give as much service as possible. But what do you do about carriers who won't talk to an agent even if the client gives permission? I don't know whether this is true, but I've even heard that at least one carrier won't even talk to the client if they think a competing agent is present.

Columbian Life will not talk to the agent even with the person's permission. They will just hang up. Same for LifeShield.

SL will not stop by phone.

In those cases you fax the stop draft.

I'll use TurboFax and send to SL right on the spot.

Most agents just fax all the time. I prefer to call because it gets stopped right away.

Companies seem to "lose" faxes regularly.

If it's a known offender taking 2 weeks to stop a draft by fax I will just make sure the new policy doesn't start until after that time.

I did have an interesting discussion with a Western and Southern CSR on Thursday. He said, "I'll stop the draft right now. But I'm going to mail the surrender form by snail mail. I'm not going to make it easy for you to replace us".

I told him "don't worry about it, I have your surrender forms already"