- 2,758
Perhaps if the sale was large enough it would be advantageous to go by and pick up cash once a month. *
So the question is...how large is large enough? **
* ...for a year.
** Not to be answered by the dirty minded or any women.
Best Way and Company for Money Order Client.
- Thread starter case1
- Start date
Perhaps if the sale was large enough it would be advantageous to go by and pick up cash once a month. *
So the question is...how large is large enough? **
* ...for a year.
** Not to be answered by the dirty minded or any women.
- 8,707
I don't disagree with you my experience though his from primarily annuity carriers who have larger AML concerns.
I was speaking of making a trip back to pick up the initial premium. A lot of companies that will allow you to collect the initial premium in ca shh will not let you collect subsequent premiums (even though many agents do it)Perhaps if the sale was large enough it would be advantageous to go by and pick up cash once a month. *
So the question is...how large is large enough? **
* ...for a year.
** Not to be answered by the dirty minded or any women.
As far as "large enough", if a case is generating $100.00 commission each time you go by the during the first year, is that worth 10 minutes of your time?
A lot of agents are using Columbian MDO to build themselves a "debit" as an ordinary or independent agent. Columbian standard GA contract on MDO is 99% first year and 18% life time renewals. I know a guy that supposed has a $30K month MDO book with them. Most of it written on the old 21% renewal contact. That means his book generates over 6K per month and he has most of the clients mailing money orders into him so he does very little actual collection. Plus, his book is now his primary source of new business.. Only works a day or two per week, take lots of vacation time and does around 100K per year new business with no lead expenses.
It is all according to what makes you satisfied in this world.. Everybody doesn't have to skin that road-kill possum the same way to be able to put dinner on the table.
- 2,758
Like alot of the ol' farts here I used to run a debit, too. It wouldn't bother me much to pick up a few (for the 1st year, of course). Like I said...if they were big enough.
Well, for their sake, if you help them keep in-force eh first yer, you should feel obligated to help them keep in force in the following years. This system is nothing like the old debit because you have no one breathing down your neck that you haveto report to.. you run it the way you want to run it.. You can choose the clients you want to serve..Like alot of the ol' farts here I used to run a debit, too. It wouldn't bother me much to pick up a few (for the 1st year, of course). Like I said...if they were big enough.
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