Any Info on Freedom Equity Group?

Discussion in 'Getting Started Selling Insurance' started by wendyhosman, Jun 23, 2013.

  1. jsaltnes
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    jsaltnes Member

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    Stay away. They have tried to engineer a move to where agents assign 100% of carrier commissions to FEG!!! Claimed the insurance company requested it. Pure BS, as i checked with the carriers contracting office...and this came from my uplines as well as the CEO himself.
    When i requested to see the commission agreement for agents and the firm nothing but crickets!
    Run Forrest Run!
     
  2. charlieg50
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    charlieg50 New Member

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    I too have been bamboozled into working for them, but after not getting a lot of answers, and they want you to call family and friends, I will leavethis organization and start working for Farmers.
     
  3. ryeates1
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    ryeates1 Well-Known Member

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    so tell me about freedom equity group. please no hype
     
  4. jrayservices
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    jrayservices New Member

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    A guy on facebook reached out to me regarding an opportunity to work with his company, BeneShield Financial. I later discovered after watching their sales video that they are a part of FEG.

    BeneShield created a call center environment where they have people prospecting and whatnot over the phone (more or less) and when they get an interested client they send that lead over to the agent directly. The client doesn't pay for the lead. Instead they just call the lead or receive a call from the lead and potentially close it right over the phone in most cases.

    They start you at 70% comp level (they call it the RVP level) if you already have a license and have sold some insurance. They, however do a 90/10 split of the sale (in addition to starting you at 70%). There is also a $300/mo admin fee...my guess is it's for the CRM. They promise 30+ appointments or live transfers and require a minimum 10% closing ratio.

    Oh lastly, they are selling IUL and their model is to essentially replace policies of existing insurance clients from various sources, positioning IUL as a "better" alternative to what they may already have going. Their main IUL carrier is AIG, which is disappointing in my opinion.

    I don't think I will sign with them tho because for one I like North American and Allianz for IUL and for two they want you to write business ONLY through them. :mad:
     
  5. pfg1
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    pfg1 Well-Known Member

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    A couple years ago their main IUL carrier was F&G. Couple years before that it was LSW. They seem to always be switching up to promote some new, latest, greatest. I know folks that work with them... some like it, some don't.
     
  6. jrayservices
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    jrayservices New Member

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    Hmm...For the folks that like it, are they making great money?
    For the ones that don't like it, why not?

    I'd love to interview someone from both ends who have the industry experience and credibility: one person who loves it and the other who doesn't.

    Interesting point about how they change carriers to promote so often. They are promoting AIG because apparently AIG is offering no caps on select IUL products...
     
  7. DHK
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    DHK Well-Known Member

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    Always read the fine print. No caps may apply for a MULTI-YEAR strategy and NOT an annual point-to-point. When applying this to an IUL, this means that you'll have more costs of insurance hit the cash values before the interest is credited after 2, 3, or whatever years is chosen for that particular segment allocation.

    There ain't no such thing as a free lunch. If something sounds "too good to be true"... read the fine print and find out why.
     
  8. pfg1
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    pfg1 Well-Known Member

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    Most don't like the MLM style deal, and having to recruit agents to up your commission levels. If that floats your boat, go for it.
     

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