Say what? Most companies only charge back the unearned commission on lapses/.. If you are advanced 9 month and it pays five months, you are only charged back the 4 months you didn't earn.
Assurance/Lumico Experience?
- Thread starter karen rowland
- Start date
garzawin
Expert
- 40
i think you're on the hook only for 4 months instead of 9 months like others. so you're exposed less. right? that's pretty good.
Yep, less exposure, less money, less chance of survival in this game. In this case, less definitely is not more!
- 25,058
"" i think you're on the hook only for 4 months instead of 9 months like others. so you're exposed less. right? that's pretty good.""
No.
Patrick would be -$1,100.00
Wino would be +$2,000.00
Which one would you choose?
No.
Patrick would be -$1,100.00
Wino would be +$2,000.00
Which one would you choose?
Oh! OH! OH! Me, me, me! I wanna be a Wino!
- 25,058
garzawin
Expert
- 40
Not really. $100 monthly prem
$100 x 225% (1 month prem) = $225. After 5 months zero charge back
$100 x 100% (9 months advanced) = $900. After 5 months still owe $400. Right?
$100 x 225% (1 month prem) = $225. After 5 months zero charge back
$100 x 100% (9 months advanced) = $900. After 5 months still owe $400. Right?
- 25,058
No.
You are changing the example to 5 months but let's go with that.
First, is it zero after the 4 months? I may have missed that.
Now it is 225% not 220%?
In your example - yes, you would keep your $225.
I would keep my $500.00 and if I reinstated or rewrote it I would keep my $1,200.00. But yes you keep your $225.
Wino Wisdom!
garzawin
Expert
- 40
haha. i guess. but if they lapsed once they may lapse again.
- 25,058
Just curious, How long have you been in the business?
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