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 Posted: Thu Jan 22, 2009 3:11 pm Post subject: Does anyone know a insurace |
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| Does anyone know a insurace company that pays on approval or summit PLZ HELP |
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CodyNeville
New member
Joined: 22 Jan 2009
Posts: 1
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| Posted: Thu Jan 22, 2009 3:16 pm Post subject: |
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| Quote: | | Does anyone know a insurace company that pays on approval or summit PLZ HELP |
I would be more than happy to answer your question, but I just don't know what the question is.
Could you be a little more specific? |
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InsuranceMaze
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Joined: 16 Oct 2007
Posts: 589
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| Posted: Thu Jan 22, 2009 3:35 pm Post subject: Pay On Approval or summit |
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when you wright buisness and turn in the app the company will pay you when the policy is aproved. Not when the money is taken when it is approved or pays when you summit the app. These companys are hard to find i hope you can help
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Cody Neville123
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| Posted: Fri Jan 23, 2009 9:14 am Post subject: |
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Are we discussing about insurance here?
Cody, lemme ask you once more, do you like to know that whether the insurance would pay a claim just after you submit the application with them? If that is your query then the answer is NO. You have to wait till you get approved. And you are required to pay the premium upfront, i.e. after you fill the application and pay the premium the application will undergo the underwriting process. Within this period the insurer can issue you a binder which is a promise of undertaking the risk. If the binder is in place, then you may get the coverage from the insurer, otherwise, you have to wait till the policy get approved.
~Jeremy |
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JeremyHolter
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| Posted: Fri Jan 23, 2009 7:16 pm Post subject: |
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I think Cody is asking about agent commission paid for producing business and whether or not there are insurance companies that pay the commission upon an application being submitted rather than waiting for the policy to actually be issued.
I'm not aware...doesn't mean it doesn't exist...of any insurance company that pays commission simply because you submitted an application.
THAT being said there are large insurance agencies that do pay upon submission of new business. There is one in the Tampa Bay area that does this. This is a good way to get a brand new agent some confidence and a feeling of some success.
Of course they'll only let your debit balance carry forward for a limited amount of advanced commissions based on applications submitted before you'll be shown the door if no business actually gets issued.
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GarySpicuzza
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