Vector Leads to Back Commissions!

[onefastpony]

I had a vector from F&G from last year for $1500 that I recently paid off. It wasn't for lack of trying to pay it off earlier but with the low commission that I was on at EFES and the money left over was my overhead and running my household it took a while to pay the vector off.

I just checked my account as I do every morning and Lo $ Behold I just had a deposit for commissions from F&G for $1300!!!

So, if you have a vector with a company does that company hold your unearned commissions in an escrow account until you pay the vector off?

To say the least it was a nice little surprise this morning.

 

[John Galt]

I had a vector from F&G from last year for $1500 that I recently paid off. It wasn't for lack of trying to pay it off earlier but with the low commission that I was on at EFES and the money left over was my overhead and running my household it took a while to pay the vector off.

I just checked my account as I do every morning and Lo $ Behold I just had a deposit for commissions from F&G for $1300!!!

So, if you have a vector with a company does that company hold your unearned commissions in an escrow account until you pay the vector off?

To say the least it was a nice little surprise this morning.

Dude, thats awesome! Take that positiveness and go kill it this week.

 

[TwiLight]

Your debit balance was probably rolled to your upline and F&G screwed up and paid you instead of your upline.

Insurance companies screw up vector payoffs on a regular basis.

 

[GreenSky]

Having never been vectored I really don't quite understand.

F&G owed you $1,300 commission but didn't pay it until you cleared a $1,500 debt? Wouldn't it been easier to just ask you for $200?

Rick

 

[TwiLight]

Having never been vectored I really don't quite understand.

F&G owed you $1,300 commission but didn't pay it until you cleared a $1,500 debt? Wouldn't it been easier to just ask you for $200?

Rick

That is too simple for a life insurance company to understand.....

 

[GreenSky]

That is too simple for a life insurance company to understand.....

I used them many years ago for a $100K annuity. The former carrier needed the transfer re-sent. When I called F&G they hadn't a clue what I even was asking. The FMO was even less help.

I did use them about 5 years ago for a couple of ROP term plans for a couple that would have been rated elsewhere.

Real PITA carrier.

Rick

 

[jdeasy]

I had a vector from F&G from last year for $1500 that I recently paid off. It wasn't for lack of trying to pay it off earlier but with the low commission that I was on at EFES and the money left over was my overhead and running my household it took a while to pay the vector off.

I just checked my account as I do every morning and Lo $ Behold I just had a deposit for commissions from F&G for $1300!!!

So, if you have a vector with a company does that company hold your unearned commissions in an escrow account until you pay the vector off?

To say the least it was a nice little surprise this morning.

When did EFES ever have F&G?

 

[onefastpony]

When did EFES ever have F&G?

I didn't have my F&G with EFES. Before I started doing FE part time August of last year I was working with a P&C shop. I partnered with a P&C shop because he said that he would open his book to me and he would be my GA on the life products. I picked up F&G through him. Needless to say, after eight months partnering with him he never opened up his book for me to cross sell even though I was bringing in about fifteen leads a week for his P&C business. These leads were people that I would meet throughout the day from business owners to just auto. So I left in August.