Vector

May 29, 2007

  1. joshril
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    joshril Guru

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    I am still wanting to get appointed with about 5 companies but I had a hypothetical question. Lets say I send some paperwork in and don't have any debit balances, but a policy lapses with a company I haven't written much business with... Of course I will either send more business through or take care of the debit balance, but would the appointment applications get rejected.

    The reason I ask is I have only 1 app currently on the books with a carrier and although I don't see the policy lapsing, I just wondered how this situation would play out if it happened or if anyone has had any experience with this?
     
    joshril, May 29, 2007
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  2. somarco
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    somarco That Medicare Expert Guy

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    Carriers usually give you several months to make up a debit balance before Vectoring you.
     
    somarco, May 29, 2007
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  3. STIBROKER
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    STIBROKER Like My post and enter the DRAWING,,,, Moderator

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    unless its the NIA.....
     
  4. joshril
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    joshril, May 29, 2007
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  5. STIBROKER
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    STIBROKER Like My post and enter the DRAWING,,,, Moderator

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    oh yea.....also a collection agency one year and a in house lawyer this year that is going to sue me....hahahahahahaha...btw....vector cleared me....
     
    Last edited: May 29, 2007
  6. salpro22
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    salpro22 Guru

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    Who and what is Vector?
     
    salpro22, May 29, 2007
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  7. somarco
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    somarco That Medicare Expert Guy

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    Recall the movie Airport . . .? The cockpit scene with Peter Graves & Lew Alcindor (or he could have been Kareem Abdul Jabar by then).

    Vector is a reporting agency used by carriers for agents who have debit balances. Kind of like a credit reporting agency, except for insurance. If you decide to skate with a debit balance some carriers & agencies will report you. That keeps you from getting advances from other agencies & carriers until the debit is cleared.

    Some are a bit more aggressive in reporting than others.
     
    somarco, May 29, 2007
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  8. STIBROKER
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    STIBROKER Like My post and enter the DRAWING,,,, Moderator

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    and some are wrong and can not prove you owe a dime......
     
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