Transamerica Issues

[DayTimer]

Watch your commission statements closely...

Something is no longer right with the way Trans is paying, imo ... problem is the way everything is now presented to me I can't figure out what is going on.

As I said, Trans is now on a "last chance" basis ... if I can get day one level coverage anywhere else, I will write anywhere else.

 

[noah]

Try this one :

Wrote a couple on DE cards. 1 preferrred,1 graded (I don't write DE cards unless it's SS billing) in March 2017. NSF Sept 2018. They begin to pay with a money order,are 1 month behind,cannot afford double draft to make both policies current. They text me every month to let me know they are sending in a money order,get both policy numbers to write on the money order.
Get a phone call from them saying Trans is returning money orders.They want to know what's going on. Turns out 1 of the policies has lapsed,is in ETI.
How come ?
After a very painful investigation,countless hours on the phone with customer service,it's learned that the billing department mistakenly applied 1 of the money orders to pay 2 premiums on 1 policy. They later admitted they made a mistake.After a delay on resolving the mistake they admitted they made,they offered to reinstate the lapsed policy on ETI without health questions,however,by now,the lapsed policy was past due 4 premiums ($200+) with a 5 premium due in a week.
Remember,Trans had been returning money orders......we know these people live day to day....that money is gone.
To add insult to injury,the graded policy needed 1 premium paid to reach full DB.
The clients completely lost it........can you blame them ?
They know it wasn't my fault,we're even considering taking out more coverage with me but now they won't even talk to me. I have other policies in the neighborhood with their friends in this very small rural community.
Definitely a hit to my reputation.
I did everything I could......spoke to supervisors...etc.
There is much more to say about the horrendous customer/agent service regarding this case that would make an agent/client's blood boil.
Not returning my phone calls as promised.Not furnishing anything in writing,only what's on agentnetinfo.....
Talk about getting it shoved straight up you know where !

Really gotta consider what we are doing here guys.

Tough to make it without them.

Is it worth your soul as an independent agent who's free to write with their carrier of choice most to place business with a company that's entirely "me first" ?

They are going from go to,to a case by case,last resort for me.

DE Cards
Social Security Billing
Tough Heart Meds
Diabetic Neuropathy
No Phone Interview Cases

Yeah I know,unfortunately for some of us,this can be %40+ or more of the business we write.

"It is what it is".

 

[bboman23]

Try this one :

Wrote a couple on DE cards. 1 preferrred,1 graded (I don't write DE cards unless it's SS billing) in March 2017. NSF Sept 2018. They begin to pay with a money order,are 1 month behind,cannot afford double draft to make both policies current. They text me every month to let me know they are sending in a money order,get both policy numbers to write on the money order.
Get a phone call from them saying Trans is returning money orders.They want to know what's going on. Turns out 1 of the policies has lapsed,is in ETI.
How come ?
After a very painful investigation,countless hours on the phone with customer service,it's learned that the billing department mistakenly applied 1 of the money orders to pay 2 premiums on 1 policy. They later admitted they made a mistake.After a delay on resolving the mistake they admitted they made,they offered to reinstate the lapsed policy on ETI without health questions,however,by now,the lapsed policy was past due 4 premiums ($200+) with a 5 premium due in a week.
Remember,Trans had been returning money orders......we know these people live day to day....that money is gone.
To add insult to injury,the graded policy needed 1 premium paid to reach full DB.
The clients completely lost it........can you blame them ?
They know it wasn't my fault,we're even considering taking out more coverage with me but now they won't even talk to me. I have other policies in the neighborhood with their friends in this very small rural community.
Definitely a hit to my reputation.
I did everything I could......spoke to supervisors...etc.
There is much more to say about the horrendous customer/agent service regarding this case that would make an agent/client's blood boil.
Not returning my phone calls as promised.Not furnishing anything in writing,only what's on agentnetinfo.....
Talk about getting it shoved straight up you know where !

Really gotta consider what we are doing here guys.

Tough to make it without them.

Is it worth your soul as an independent agent who's free to write with their carrier of choice most to place business with a company that's entirely "me first" ?

They are going from go to,to a case by case,last resort for me.

DE Cards
Social Security Billing
Tough Heart Meds
Diabetic Neuropathy
No Phone Interview Cases

Yeah I know,unfortunately for some of us,this can be %40+ or more of the business we write.

"It is what it is".

SS Billing can be sent to American Amicable
Tough Heart Meds can be sent to American Amicable, RNA (if no crazy combos)
Diabetic Neuropathy can be sent to RNA
No Phone Interview can be avoided by doing eApp with American Amicable, Prosperity, MOO, Americo, etc.

That will limit your exposure to Transamerica even more.

 

[DonP]

Yeah i had Trans screw up on 3rd wed ss direct express drafts in May with 5 clients . They never figured out what happened as it was their fault. They doubled drafted all the accounts to get them current.

 

[noah]

SS Billing can be sent to American Amicable
Tough Heart Meds can be sent to American Amicable, RNA (if no crazy combos)
Diabetic Neuropathy can be sent to RNA
No Phone Interview can be avoided by doing eApp with American Amicable, Prosperity, MOO, Americo, etc.

That will limit your exposure to Transamerica even more.

Moo is random phone interviews plus in my states they mail the policy to the agent with policy receipt required. PIA.

Just recently got contracted with them.

 

[Todd King]

If you stop writing business with Trans (meaning not submitting business for over a month), they will start taking your renewals to pay off the advance balance (or chargeback balance).

Once this happens, you will have to call them and get them to set you back up the way you originally were, or it will remain the way they changed it to. Of course, you'll need new business in there before they will do it.

 

[noah]

No intentions to stop writing them.

I don't hear anyone else on here that quit writing them ?

They are nearly always in the top 3 with most IMO's right ?

It's like any other relationship,it goes great for a while,then it goes on the rocks.

Things change once the agent starts to see 'NB Jet".....No pending requirements.

 

[Life Hawk]

No intentions to stop writing them.

I don't hear anyone else on here that quit writing them ?

They are nearly always in the top 3 with most IMO's right ?

It's like any other relationship,it goes great for a while,then it goes on the rocks.

Things change once the agent starts to see 'NB Jet".....No pending requirements.

Wise use of them is very much in order... it's like grabbing the tiger by the tail.

I must say that I have been so spoiled with a carrier I use who I have little to no major issues with. The issues I get are quickly resolved.

But on a business model, I would think Transamerica would want to correct what seems to be a deteriorating agent opinion.

 

[goillini52]

I must say that I have been so spoiled with a carrier I use who I have little to no major issues with. The issues I get are quickly resolved.

Who was that again...Fidelity?

 

[Life Hawk]

Who was that again...Fidelity?

Fed Life