California FE Agents

[GMDM100k]

I have all my eggs in one basket! For sure. I work with one IMO and one company. If something happened and I had to stop doing business my company I wouldnt be worried about needing a release. I would be sending my biz to someone else and would not need them anymore.

Now if I had to switch IMOs and still wanted to work with a company, and they wouldn't let me I would be angry.

As a agency owner its strange to me that this is a problem. I have had agents that left me for another IMO because they moved or wanted to work with a specific IMO. All I had to do was make a phone call to LH and tell them to put the agent with that IMO and that's it. I have never had to sign anything or wait a certain period of time.

I guess if I was angry with the person and didn't make the phone call it would hold things up a bit

 

[jdeasy]

There probably is no right answer for everyone. That's why I said it's bad advice. I meant in making a blanket statement.

So who is right? Probably no one. Different experiences with different people. Example, you and Travis may be able to walk away from EFES with full releases. Others have said they could not. Different experiences with the same organization. Today Todd can say he will release me, but gets pissed off at me tomorrow and then says he won't. I lose.

If I have contracts spread out over a couple of the best guys (in my opinion) how do I lose?
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So how have you been James? Give me a call sometime and we can catch up. Lee

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I have all my eggs in one basket! For sure. I work with one IMO and one company. If something happened and I had to stop doing business my company I wouldnt be worried about needing a release. I would be sending my biz to someone else and would not need them anymore.

Now if I had to switch IMOs and still wanted to work with a company, and they wouldn't let me I would be angry.

As a agency owner its strange to me that this is a problem. I have had agents that left me for another IMO because they moved or wanted to work with a specific IMO. All I had to do was make a phone call to LH and tell them to put the agent with that IMO and that's it. I have never had to sign anything or wait a certain period of time.

I guess if I was angry with the person and didn't make the phone call it would hold things up a bit

If you only have company then releases are not an issue at all. Who gives a damn if they can't write LH anymore?

When you have 8-10 companies under one IMO and can't get released then it is a big deal.

Most IMO's will not give releases. That's a dirty little secret agreement between the IMO's and the insurance company.

Agents have not signed on to that agreement. It's wrong as hell to not give releases but that's just how it is.

It's especailly bad when you are moving your MA contracts and can't get released. There are many life companies that the agent can write while waiting out their suspension but there are not many options on MA and many of those IMO's won't release for 12 months.

The companies are as much to blame as the IMO's. The deck is stacked against the agent.

 

[WinoBlues]

There probably is no right answer for everyone. That's why I said it's bad advice. I meant in making a blanket statement.


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Then wouldn't it be a bad blanket statement that it was bad advice? Maybe better that it was bad advice for some.

How about for some it would be ill advised to put all your top FE carriers under one IMO?

Edit: How about if I just say. In my experience I find I feel better protected knowing I have my contacts diversified?
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There probably is no right answer for everyone. That's why I said it's bad advice. I meant in making a blanket statement.


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If you only have company then releases are not an issue at all. Who gives a damn if they can't write LH anymore?

When you have 8-10 companies under one IMO and can't get released then it is a big deal.

Most IMO's will not give releases. That's a dirty little secret agreement between the IMO's and the insurance company.

Agents have not signed on to that agreement. It's wrong as hell to not give releases but that's just how it is.

It's especailly bad when you are moving your MA contracts and can't get released. There are many life companies that the agent can write while waiting out their suspension but there are not many options on MA and many of those IMO's won't release for 12 months.

The companies are as much to blame as the IMO's. The deck is stacked against the agent.

What he said.

>>>>>>>>>>>

 

[GMDM100k]

I don't think I would give a damn if I couldn't work with one particular company no matter who it was. I think its these companies that give a damn if I write with them. Any company would love to have my apps.

Its myself and my agents that write the apps not the company.


But if I couldn't work with ANY companies ... that would be a problem!!

 

[CALTCAgent]

And these transfer holds are all pretty understandable. Could you imagine the chaos if agents played FE musical chairs constantly? I was ready to transfer 2 weeks in after my useless bogus phone leads.

So you were promised bogus leads an you are worried about the chaos for others of switching FMO's?

Thats unbelievable to me. Its ok to lie to an agent, but we should worry about the chaos of us wanting to switch to run our business and support our family better.

This type of mentality is truly amazing. I guess we are a beaten bunch!

Maybe if more agents didn't accept this treatment things would be better for all.

 

[jdeasy]

So you were promised bogus leads an you are worried about the chaos for others of switching FMO's?

Thats unbelievable to me. Its ok to lie to an agent, but we should worry about the chaos of us wanting to switch to run our business and support our family better.

This type of mentality is truly amazing. I guess we are a beaten bunch!

Maybe if more agents didn't accept this treatment things would be better for all.

That's what it would take. A class action. That release deal is not enforcable in court since the agents never signed onto it. But for one agent to take them on it would be futile. You would win but it would take more than 6 months to win and then it wouldn't matter. You would be out $1000's of dollars and the result would be the same. You couldn't write that company for 6 months.

You think the IMO's and the companies are not aware of that dynamic?

 

[Todd King]

So who is right? Probably no one. Different experiences with different people. Example, you and Travis may be able to walk away from EFES with full releases. Others have said they could not. Different experiences with the same organization. Today Todd can say he will release me, but gets pissed off at me tomorrow and then says he won't. I lose.

If I have contracts spread out over a couple of the best guys (in my opinion) how do I lose?

If you want Todd to send you a pre-release agreement, he can, just ask him.

If I get pissed off at you or anybody, why would I want to continue to hold on to them? Not so much.

If you have an IMO that actually will release you, then your philosophy doesn't hold as much water. If you aren't with one that will release you, then you shouldn't be there anyway! Just my opinion.

I've had many agents come back to me when they found out the grass really wasn't greener on the other side, wherever that was. Do you think they would come back if I didn't give them a release? I wouldn't, that's for sure!

 

[WinoBlues]

You were probably the worst example I could have used for the reasons you posted. But I do not think you are the norm. (in more ways than one .) while you have stated many times that you freely release I think you have also mentioned others that won't honor even a reciprocal release.

Note that I have several contracts with Todd.

If you want Todd to send you a pre-release agreement, he can, just ask him.

If I get pissed off at you or anybody, why would I want to continue to hold on to them? Not so much.

If you have an IMO that actually will release you, then your philosophy doesn't hold as much water. If you aren't with one that will release you, then you shouldn't be there anyway! Just my opinion.

I've had many agents come back to me when they found out the grass really wasn't greener on the other side, wherever that was. Do you think they would come back if I didn't give them a release? I wouldn't, that's for sure!