When Do I Get Paid on This Med Supp.....

[5pill]

and when is it issued? I wrote it on the 28th of Dec. and faxed on the 1st of Jan.? This is with MOO. She told me today, I could call back in a week or two and check the status. Permission to do that really set me at ease.

Who has the fastest turnaround time? The fastest issuance? The fastest pay? Maybe any company can beat that.


I'm used to selling FE and gettin' my check about 15 minutes after submitting the app. Of course, I 'm exaggerating, but not by much, compared to waiting for a MS deal.

 

[sman]

So are you at all concerned about providing the most competitive plan for the client?

All I hear in your post is "me, me, me".

You have to understand that most Med Supp carriers are overwhelmed right now. Especially the ones that have the lowest rates. MOO has underwriters from different departments (Disability, life, LTC) helping out right now. They are usually pretty quick in their turnaround. Although the usually only once a week so don't set your expectations too high on getting paid the same day.

I have been in this business over 20 years and the following motto has served me well:

Do what is in the best interest of the client and you will be taken care of.

I would recommend you apply this as well.

 

[Yoda]

Mutual computes the commission checks every Thursday. If you have direct deposit the money should be in your account by the following Friday afternoon. If they are paying you by check then you should get it Saturday or Monday. You will more then likely get paid next week but you might get lucky and get paid this week.

 

[5pill]

"Originally posted by Sman"

So are you at all concerned about providing the most competitive plan for the client?

All I hear in your post is "me, me, me."

What makes you think there is no concern for a competitive plan for this client? How do you think this deal got written?..Maybe their other plan was blown out of their dresser drawer? Thats pretty competitive, would'nt you think?.

All you hear is about me, me, me?

Where? When? What? I just asked if there is somebody that pays faster;....who really cares where all the UW's and their assistants come from, they're slow compared to FE.

 

[sman]

"All you hear is about me, me, me?

Where? When? What? I just asked if there is somebody that pays faster;....who really cares where all the UW's and their assistants come from, they're slow compared to FE.

Let's see -

"When do I get paid"

"Who has the fastest turnaround time? The fastest issuance? The fastest pay?" (I take that to mean if someone has a faster turnaround time and pays quicker than MOO, then you want to do business with them).

Why else would you want to know if someone paid faster? If MOO is the cheapest in your area, what does it matter how long it takes them to pay? I think you should be a little patient given the circumstances. I wouldn't wait two weeks to call them though.

I can tell you this, I personally haven't dealt with a company that is easier to work with than MOO. I realize different carriers are more competitive in certain states. Over the last few years in Georgia, it's been MOO, then Family Life, Lincoln Heritage and RNA, and now MOO again. Aetna also had certain cases where they were more competitive. And the AARP Med Supp needs to be in most everyone's quiver in Georgia just for the guarantee issue aspect. I have also done some with BCBSGA in the past. Of all those carriers, MOO has been the easiest to deal with. That may not be your experience, but it has been mine.

Lastly, I doubt very seriously that most FE carriers get 50,000 applications in one month. Once we get through this period, you can usually have a policy issued within a week. Within a day or two if it's guarantee issue.

 

[5pill]

"Originally posted by sman;; Let's see -

"When do I get paid""

Well, maybe you're right. Its awfully SELFISH of me to wonder how long its gonna take.. to get a check.

Your being in this business for 20 years, versus the little week and a half stint I have going on over here, can make for some lop sided discussion.

But, If the work load MOO has is 50,000 apps a month, they maybe ought to slow down some; would'nt you reckon?

Seriously though, if they get caught up, it will be nice. Sounds like they can issue quickly according to your assessment of the company.

Its just that when someone says; call a month after you submit your app, to check on the status; one might begin to wonder if he is aligned with the right bunch.

 

[sman]

I hear you. Never forget that the person on the other line at the company gets their paycheck every week or two regardless of whether or not that policy gets issued. I would call them every single day until it's issued. You can ask to speak to the underwriter handling the case as well.

I don't believe they get 50k apps per month. The last 6 weeks of the year are crazy because of the people deciding to cancel their MA plans and go back to a supp. I assure you they will get caught up and will issue your applications in a timely manner.

 

[VaDwayne]

and when is it issued? I wrote it on the 28th of Dec. and faxed on the 1st of Jan.? This is with MOO. She told me today, I could call back in a week or two and check the status. Permission to do that really set me at ease.

Who has the fastest turnaround time? The fastest issuance? The fastest pay? Maybe any company can beat that.


I'm used to selling FE and gettin' my check about 15 minutes after submitting the app. Of course, I 'm exaggerating, but not by much, compared to waiting for a MS deal.

It has been my experience that MOO is the slowest of the carriers I represent but still needed in the portfolio of products.

 

[Daytona_Guy]

I wrote it on the 28th of Dec. and faxed on the 1st of Jan.? This is with MOO. She told me today, I could call back in a week or two and check the status.

That is strange. We were seeing two to three weeks in December and I was told by Underwriting that they were still backed up 10,000 applications or so by December 31st.

This past week, though, I wrote two on Monday that were issued on Wednesday! Two days.. Now that's fast! These were E-apps.. but they're treated the same way once they land on an underwriter's desk as paper.

 

[MrMack]

and when is it issued? I wrote it on the 28th of Dec. and faxed on the 1st of Jan.? This is with MOO. She told me today, I could call back in a week or two and check the status.


I wrote a Gerber Life Med Sup in IL and it was received on Dec 22 and it is still pended 21 days. I sure hope that it get issued soon, they say that no one has even looked at it yet.