- 3,764
are you referring to writing life insurance on yourself, or an immediate family member?
Controlled
- Thread starter Mattschmidt
- Start date
Controlled business is usually for business written on yourself or immediate household members or family. Basically, the companies and DOI don't want you to be doing all of your business just with close people to you but to all people looking for insurance.
Life companies are usually fine but won't give an advance.
Life companies are usually fine but won't give an advance.
Writing members of your church? Yes.
And I'm not guru. That's just my little title thing on here.
- 24,978
One thing to consider some churches and or pastors like to "control" the business of members.
- 11,280
I can't remember if it was company contracts or the DOI rules, but I remember seeing somewhere that only 25% of your book can be controlled business. I would look it up to see how accurate that is but I don't really care as long as I keep 3 clients on the books to make up for my g ma.
- 255
I thought DOI rules stated 15%. But carriers could be different.
- 11,280
You could be right. It's been a while since I seen it. I better add a couple more clients to my book then .
- 15,319
Let me help you out. Take an application and forward it to me. I'll add my agent information (or you can just do that yourself if it's easier). The business certainly wouldn't be controlled. One of us can forward the application to the company.
Yes, I'm a giver and you're welcome.
Rick
Yes, I'm a giver and you're welcome.
Rick
- 11,280
so if i wanted to only do biz. through referrals thats not legal?
Absolutely correct! You can however forward your referrals to an agent in another state and they can write the business. I 'll send you mine after you send me yours...
- 15,041
Absolutely correct! You can however forward your referrals to an agent in another state and they can write the business. I 'll send you mine after you send me yours...
I thought one of the conditions of your release is you are no longer allowed to use that line?
