Transamerica Issues

[Life Hawk]

They've been reading your forum posts!

That and some heated, but professional, conversations on the phone. Had to write them again this week. I'll let you...

If I get a pending ap for a missing e again...... I will loose all my warm and fuzzy!!!

 

[bigfrie]

That and some heated, but professional, conversations on the phone. Had to write them again this week. I'll let you...

If I get a pending ap for a missing e again...... I will loose all my warm and fuzzy!!!

Tell me about it. They had pended one of my apps because they said "the beneficiary's last name appeared misspelled."

 

[Life Hawk]

Questions regarding how they (Trans) deal with commissions. If you rewrite a policy with in a period of time, they will reduce commission. What if you rewrite for more coverage, do they also reduce commission the additional premium?

If so... I think I will blow a gasket and start a new thread. These guys are on my list and they just keep finding ways to stay there.

 

[bboman23]

I think they just subtract the chargeback from you. So if the original agent would have received a $500 chargeback, they subtract $500 from your commission. So the additional amount won't be hit, but the total amount will be hit by the amount the previous agent will get hit for.

 

[Life Hawk]

I think they just subtract the chargeback from you. So if the original agent would have received a $500 chargeback, they subtract $500 from your commission. So the additional amount won't be hit, but the total amount will be hit by the amount the previous agent will get hit for.

I was the original agent... and from what I can see, they commissioned me on the additional premium dollars the same as the original premium with the added reduction in commission.

 

[noah]

I think they just subtract the chargeback from you. So if the original agent would have received a $500 chargeback, they subtract $500 from your commission. So the additional amount won't be hit, but the total amount will be hit by the amount the previous agent will get hit for.

Just had this happen,policy issued today.
A policy that lapsed after 3 months,DE card.
They reduced the commish on the new policy (DE card)to 31%.
Lapsed policy $1449 AP
New policy $533 AP
Do you know how that works since it's as earned ?
Haven't dug into it,wanted to make sure the 1st DE card payment didn't get reversed.

 

[DayTimer]

The past six months I never know if I'm getting a check or not from Trans - and no one there has yet explained clearly why it is sometimes the pay though check comes through and other times it does not.

More than the hoops they make agents jump through with respect to the application process what I can't stand is not knowing how I am to be paid (or whether I will be paid at all). Trans is the only carrier where my comp remains a mystery to me.

 

[Life Hawk]

The past six months I never know if I'm getting a check or not from Trans - and no one there has yet explained clearly why it is sometimes the pay though check comes through and other times it does not.

More than the hoops they make agents jump through with respect to the application process what I can't stand is not knowing how I am to be paid (or whether I will be paid at all). Trans is the only carrier where my comp remains a mystery to me.

That is the biggest red flag. When I asked the commission folks this they said they would have to have another group of people respond with an e-mail. When I ask if I could just talk with them direct... I got shot down with a direct "NO".

 

[Baseball7]

The last two months they have really changed the earned deposit. They explained some convoluted reason why it is what it is and all I understand is I'm getting far less than I was on a consistent basis for years.

 

[DayTimer]

That is the biggest red flag. When I asked the commission folks this they said they would have to have another group of people respond with an e-mail. When I ask if I could just talk with them direct... I got shot down with a direct "NO".

Seven months ago I was sending them quite a bit of bus and considered using them as my go - to ... now they are a carrier of last resort.