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Re: CAptive Agent

Try the search function. This topic has been discussed numerous times. I hope this helps.......
 
Re: CAptive Agent

It is according to your needs. If you are 'green', then you might want to start captive. If you have experience, then independent is the only way to fly!
 
Re: CAptive Agent

It is according to your needs. If you are 'green', then you might want to start captive. If you have experience, then independent is the only way to fly!

Can you explain further? How do renewals work on whole life when you are independent also, do any companies offer a defined benefit pension to independent reps for the business they submit? If so I would jump the captive ship in a heartbeat. Also what would happen if I became captive to all my business I have written thus far? Would I still get the renewals on it?
 
Re: CAptive Agent

Can you explain further? How do renewals work on whole life when you are independent also, do any companies offer a defined benefit pension to independent reps for the business they submit? If so I would jump the captive ship in a heartbeat. Also what would happen if I became captive to all my business I have written thus far? Would I still get the renewals on it?

Calculate all the freebies your captive agency offers, add that to your FYC and compare to brokerage FYC. Captive may come out ahead if you are a new agent (viz new agent financing) or big time producer (big time agent allowance and bonus). If you are neither brokerage will pay more. I'm neither but still like to hang out at my captive office to crack jokes with others. You can use a mirror for that if you're independent.
 
Re: CAptive Agent

Can you explain further? How do renewals work on whole life when you are independent also, do any companies offer a defined benefit pension to independent reps for the business they submit? If so I would jump the captive ship in a heartbeat. Also what would happen if I became captive to all my business I have written thus far? Would I still get the renewals on it?

Isn't a defined benefit pension just an annuity?

You simply take the extra money you get as an independent and sell yourself an annuity.

I agree with everyone else. Independent is the only way to be once you have some experience but you might want to stay captive a year or two to get trained.
 
Re: CAptive Agent

Isn't a defined benefit pension just an annuity?

You simply take the extra money you get as an independent and sell yourself an annuity.

I agree with everyone else. Independent is the only way to be once you have some experience but you might want to stay captive a year or two to get trained.


Can be if it is fully insured 412i it can be funded with whole life as well. If I buy an annuity I have to fund it. A defined benefit I don't. Same plans gov. employees have. My last statement said if I work for my company for another 27 years. The value will be 1.3 million.
 
Re: CAptive Agent

Can be if it is fully insured 412i it can be funded with whole life as well. If I buy an annuity I have to fund it. A defined benefit I don't. Same plans gov. employees have. My last statement said if I work for my company for another 27 years. The value will be 1.3 million.

I am sure you realize that with the time value of money factored into inflation; that $1.3 million will not be a lot of money in 27 years. Like it has been mentioned here on this thread; you can take the additional money you make, being independent, and invest it yourself (SEP or Roth).

This is the same concept that the Gov't is proposing in privatizing Social "Insecurity". If a SEP is funded correctly, and if the agent has good saving habits; I will take my SEP over any type of DBP offered by a company.

Many of the companies will reward you with Deferred compensation of some sort. I know in the last 5 years or so I have accumulated about 110K with Lincoln; and I just received something in the mail from Aviva stating that because of last years personal production with them I was eligible for an additional 19K in compensation over the next 5 years. Some of the companies that I deal with offer this on top of the compensation that you receive. I hope this helps.

 
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