Charging You to Contract

[tommyk]

I had a company wanting to contract me for the products. Major Medical, Medicare Supplement, MA, Life, FE, LTC, etc.
Then they wanted me to submit $275 with the application for contracting.
I had not heard of this, but others say it is becoming common.
Thoughts, suggestions?????????????

 

[Mr. Bill]

Many companies won't appoint you until you write the first piece of business. Perhaps they're just trying to cover their appointment costs. Sounds like a case of "next" to me.

 

[senior-advisor-indiana]

I'd pass. That is rediculous.

 

[GreenSky]

I'd pass. That is rediculous.

Please repost with correct spelling for ridiculous.
Rick

 

[Crabcake Johnny]

Pass! NEVER pay an agency any type of fee!!!

 

[senior-advisor-indiana]

I'd pass. That is ridiculous.

 

[Guest]

Pass! NEVER pay an agency any type of fee!!!

MoO has you pay $72 dollars for the state fee to register the appointment (to 3 companies.) You also have to buy biz cards and ONLY from them (compliance issues they say... not a big deal.) The education in life products, annuities, DI and how to prospect them and present them that I've received in the past two weeks of seemingly endless classroom presentations, conference calls, and web-based seminars is well worth the cost... so far! I'm working on a fairly complex buy-sell life and DI lump-sum buy-out I'd never get without the MoO (or some big) name and infrastructure behind me. Let's see if I'm "good enough" to bring it home! Nothing ventured, nothing gained!

Al
MoO

 

[Winter_123]

I'd pass. That is ridiculous.

Rediculous too.

Winter

 

[arnguy]

IMHO that is incredulous. One should not have to pay to get a job. However, the fee that MOO charges seems reasonable because the agent is getting something of value in return.

 

[tommyk]

They are saying there is a 4 hour web training and pass the modules and then one day of classroom training and then field training.