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What company is this?
- Thread starter rousemark
- Start date
- 4,872
Their new policy will help protect the upline on advance debt roll up as well as improvement on persistency. Uplines should be glad.
- 26,136
Isn't part of their override supposed to be for roll ups?
And the IMO contracted the agent.
Yeah, that's what you have to use it for, but think about this; One bad agent can cost you more than 50 agents make you. Honestly, a single agent can roll up 50K or more if the situation is right. Of course, that's not most of what you see. However, on a daily basis we see agents owing $1K plus to companies. Do you realize how many policies need to be written just for us to make that $1K?
- 26,136
I honestly do not know. But don't the majority of agents pay that $1,000 off by writing new business.
Yet another reason I don't do Adult Daycare.
Yet another reason I don't do Adult Daycare.
- 26,136
And in this no advance with multiple policies on the same account? How often does that happen? They are not the only company doing that I know.
My first thought is that they are focusing in on FE when they are talking about doing this. So, they are basically taking away the possibility of getting multiple hits all at once.
Some do and some don't. As you know, they majority of agents don't make it in the business, so when they wash out they tend to forget all about anything they did write before and will end up ignoring the emails they get about owing money.
They don't even think twice about the fact that we are going to put them into collections.
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Some really BAD scammer agents that lose their license from ripping off companies and IMOs just relicense under their girlfriends info and pull the same scam over and over and collect a LOT of cash. The girlfriend will issue about 10 $25,000 policies with 2 or 3 companies before you know what hit you. And in reality the girl doesn't know a thing about it. And they all draft from the same account and they all get 30-day free looked.
By the grace of god I caught one right before it happened to me. It was a freak accident that I caught it. Many others aren't as lucky.
But that's definitely one good reason why they would do this. And as an agent I would file it under the "who cares" catagory. You made more than two sales. You are getting advances on two of them. The others are bonus and you get paid as earned. Who cares? Next.
By the grace of god I caught one right before it happened to me. It was a freak accident that I caught it. Many others aren't as lucky.
But that's definitely one good reason why they would do this. And as an agent I would file it under the "who cares" catagory. You made more than two sales. You are getting advances on two of them. The others are bonus and you get paid as earned. Who cares? Next.
- 26,136
Just for clarification - so if I write three cases in the house on the same day with the Americo as an example. I would get advanced for two? That's not so bad.
Most of this is mute for me as I rarely write everyone the same company. It would pretty rare that one company is the better option for all.
Just did a Sagicor on him, a MoO on her and three of the kids and a United Heritage on the 14 year old. The parents had SNL, AIG and Gerber.
