Check Your "Vested Contracts"

[Norwayguy]

I see this in my contracts, too. Most of them say $50/month.... but this is still stealing.

I agree its legal stealing...I had a contract that stated they would continue to pay commissions as long as it exceeded $300 annually....No problem I thought I had just under $600 annually in renewals....guess what I know all of you out there can guess what happens....they deffer payment until the commission exceeds $300 dollars and then pay me since the second half never reached $300 because they started over every year they kept a little less than half my renewals.

 

[WinoBlues]

You guys are probably better people than I am.
They steal from me and I churn the book, As long as I do not hurt the client.

 

[Newby]

Must be LH. That $250 is hidden somewhere in the contract, but, it's in there. I have a little over $200/mo. in renewals from LH. Since it's not $250, they keep it. They don't roll it to the next month to get you over $250, they just keep it. I don't write for them anymore, so it can't grow.

Legal stealing.

JD couldn't you write a $55 per month policy on yourself or someone and go as earned? For a $55 investment you would get a $250 return. Not bad!

 

[jdeasy]

JD couldn't you write a $55 per month policy on yourself or someone and go as earned? For a $55 investment you would get a $250 return. Not bad!

No, I can't write for them anymore. They gave me an ultimatum about a year and a half ago, terminate all my other FE contracts or terminate with them. Pretty easy choice.

 

[WinoBlues]

Again, you guys are probably better guys than I am.

However, if one of my RNA/Foresters/Oxford/Assurity/whoever buddies happened to call on them.........

Again as long as I did not hurt ~my~ client.

Have had the same issues with Sentinal Security. Then again, LH could beat their price. And they do not have customer service.

 

[Joe Moore]

Joe I have my Americo contract under you. I never sold much with them. I just went on their website and I am locked out.
I assume this is the company in question?

Scott,
Did you ever find where you had been terminated?
Joe

 

[Newby]

Scott,
Did you ever find where you had been terminated?
Joe

I had to tag along with my wife to a CPA convention this week. I played two solid days of Black Jack and left slightly better off than I arrived with.

Americo has been the furthest thing from my mind this week.