How Do You Handle these Draft Date Problems?

[term1]

Lets say its aug 20 and you take an app. Client wants the 25th draft date but wants sept.Many people who give you a void check don't want to pay till the policy comes back or even when the next check comes next month. So we know if you write it on the 20-23rd the issue date will probably be the 28th. Fine but many co's won't take a draft date further out than 30 days so how do you handle that if its written aug 20th and they want sept 25th as there draft date? Same thing if you write an app on aug 25th and they get paid on sept 3rd.My question is how do clients react if you draft there accounts before they get the policy back? The reason I ask that is so many fe sales people say"hey we need no money today but lets get the program started and see if you qualify.The client is iffy about taking out the policy but many times when you come back with it they take it. But what happens if that iffy person gets there account drafted before you return with the policy?

 

[jdeasy]

Use a company that lets you go more than 30 days out.

 

[term1]

who does that? Aetna,rna? any more. Also what if a company like snl fits there needs with direct express you have few choices.

 

[jdeasy]

who does that? Aetna,rna? any more. Also what if a company like snl fits there needs with direct express you have few choices.

Americo, Trinity, AmCon. Just to name a few Most of the other decent FE companies will work with you on it. I know RNA will and has.

I headrd today that Oxford did for an agent. I was scocked at that because they are so rigid.

Who is your upline? Why are they not heing you with this stuff?

 

[indiana260]

Lets say its aug 20 and you take an app. Client wants the 25th draft date but wants sept.Many people who give you a void check don't want to pay till the policy comes back or even when the next check comes next month. So we know if you write it on the 20-23rd the issue date will probably be the 28th. Fine but many co's won't take a draft date further out than 30 days so how do you handle that if its written aug 20th and they want sept 25th as there draft date? Same thing if you write an app on aug 25th and they get paid on sept 3rd.My question is how do clients react if you draft there accounts before they get the policy back? The reason I ask that is so many fe sales people say"hey we need no money today but lets get the program started and see if you qualify.The client is iffy about taking out the policy but many times when you come back with it they take it. But what happens if that iffy person gets there account drafted before you return with the policy?

I don't run into people wanting to see their policy before their first payment. You may have trust issues or you are over thinking things.

I tell everyone their coverage begins when their first payment is made. I then tell them they will get their policy in a few weeks. No questions ever asked.

The company brochures outline the coverage so that plus my word ifs what they have. If they act suspicious you can show, then the free look provision but I very seldom do that.

 

[Rearden]

Lets say its aug 20 and you take an app. Client wants the 25th draft date but wants sept.Many people who give you a void check don't want to pay till the policy comes back or even when the next check comes next month. So we know if you write it on the 20-23rd the issue date will probably be the 28th. Fine but many co's won't take a draft date further out than 30 days so how do you handle that if its written aug 20th and they want sept 25th as there draft date? Same thing if you write an app on aug 25th and they get paid on sept 3rd.My question is how do clients react if you draft there accounts before they get the policy back? The reason I ask that is so many fe sales people say"hey we need no money today but lets get the program started and see if you qualify.The client is iffy about taking out the policy but many times when you come back with it they take it. But what happens if that iffy person gets there account drafted before you return with the policy?

Like JD said, pick a company that allows for some wiggle-room regarding the 1st draft.

United Heritage allows 40 days from the date the application was signed to draft the first premium, which helps when you're at the end of the month and the prospect is hesitant about a payment coming out so early.