Contracting with an IMO?

[Mark]

As a follow-up question. So if IMO 1&2 both o ffer say Fidelity can you still contract with both, but then only be appointed through IMO 1 or how does that work? Also, I've heard that some companies impose a waiting period on selling their products if you switch IMO's. True? If so, how does that work? Thanks in advance.

Most Life Companies do not allow Duel contracting.
If you wish to switch IMO you must either get a release from them, or wait at least 6 months without writing business to switch. Some companies make you wait a full year.

Some IMO give out releases and some don't.

 

[somarco]

Most Life Companies do not allow Duel contracting.

OK then. How about a fight to the finish?

 

[JMiller]

I work with an IMO and was wondering what everyone likes and doesn't like when working with an IMO. And do you like working more with a larger Carrier owned organization or an Independent organization?

 

[Robert Tuggle]

Most Life Companies do not allow Duel contracting.
If you wish to switch IMO you must either get a release from them, or wait at least 6 months without writing business to switch. Some companies make you wait a full year.

Some IMO give out releases and some don't.

This is what my wife and I are going through. We were "released" from the first IMO and started working with the second IMO. Today we find out that MOO will let you ride as dual contracted, but that your commissions are paid through the first IMO until that six month window that was mentioned has lapsed. We are working now to get the transfer of our appointments/contracts to the second IMO so that we don't have to sit things out for six months because MOO is one of the better carriers that we work with. We are also looking forward to going through this with at least half a dozen other carriers. Will update when we get more solid info on our transfers.

 

[WinoBlues]

Today we find out that MOO will let you ride as dual contracted, but that your commissions are paid through the first IMO until that six month window that was mentioned has lapsed.

Not sure if that is true.

I have one number with MoO, however, When I submit business I need to remember to list TRK and not Crump or 360 or the case goes through that upline. Not a bad thing if it is 360 however Crump is a lot less comp.

So the number is the same. It is whoever you put as the marketing organization. In my case anyway.

 

[Tahoe Ray]

Not sure if that is true.

I have one number with MoO, however, When I submit business I need to remember to list TRK and not Crump or 360 or the case goes through that upline. Not a bad thing if it is 360 however Crump is a lot less comp.

So the number is the same. It is whoever you put as the marketing organization. In my case anyway.

Commissions aren't normally paid through the other IMO but they may have to keep the comp schedule the same as it was previously (for a set period of time). I know that Lincoln does that when you get a second writing number.

 

[Todd King]

Commissions aren't normally paid through the other IMO but they may have to keep the comp schedule the same as it was previously (for a set period of time). I know that Lincoln does that when you get a second writing number.

Yeah, they won't increase the comp on most products for 6 months. It's hard to keep up with them. Some products you can dual contract on, others you can't, etc.

 

[Ellenwood]

I am looking for an IMO that supports the Liberty Bankers Life products. Any suggestions?

 

[Todd King]

I am looking for an IMO that supports the Liberty Bankers Life products. Any suggestions?

We have them. Please give us a call.

 

[goillini52]

I am looking for an IMO that supports the Liberty Bankers Life products. Any suggestions?

Todd King.