Except i dont recruit here lol, he can contact spur if he feels the need to lose all respect for himself
Ugh I Got a Chargeback Now what ??
- Thread starter Cyborg7
- Start date
Except i dont recruit here lol, he can contact spur if he feels the need to lose all respect for himself
Go sell another policy, the comp will cover your chargeback. It is what it is, don't sweat it.
And just fyi, 600-700 policies a year .... there probably isn't an agent anywhere doing that kind of production. If there is, they are a super stud and likely have a massive support team and well oiled machine that is clicking on all cylinders.
And just fyi, 600-700 policies a year .... there probably isn't an agent anywhere doing that kind of production. If there is, they are a super stud and likely have a massive support team and well oiled machine that is clicking on all cylinders.
Haven't posted here in a while, but just can't resist putting in my $0.02 here. 200+ policies a year and this is your first chargeback? Hmmm...that is practically a statistical impossibility. They can't both be true. Methinks the way you are freakin out, it's the 200+/year production claim that is bogus. If it was true, you would be grossing north of $100k/year (since you have no other chargebacks). And this is a side gig?? AND you''re tweekin over one chargeback??
- 29,532
He's just joking. You have to remember...this guy goes out in an Easter Bunny suit(complete with floppy ears)selling FE door to door on Easter.
- Thread starter
- #15
Actuaries typically price between 15-25% first year on lapse rates, with a decline tapering down in the following years. So while it could happen, it would still remain a statistical abnormality. Average commissions are say 110% with 700 annualized premium which would make approximately $154,000 a year on 200 policies which in most cases would mean the $770 chargeback is minimal so just pay it or write another policy to pay it off so freaking out over it is overdramatic.
#reality
#facts
#takeaseatnexttoGTCyoumaylearnsomething
- Thread starter
- #17
- 5,264
I love dry comedy.
Especially when nearly everyone doesn't catch it.
Good to see some new material, Cyborg.
Especially when nearly everyone doesn't catch it.
Good to see some new material, Cyborg.
I recently got a letter from 5 Star dated 8/2015 that stated I owed over $1100. I only wrote 3 policies with them and they terminated me over 2 years ago. 1 of the policies lapsed and 1 was a first year death claim. Me or my IMO didn't know
anything about the debit balance. I was reported to Vector. They only take checks and it sure pissed me off to write one when I was not kept up to date.
anything about the debit balance. I was reported to Vector. They only take checks and it sure pissed me off to write one when I was not kept up to date.
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