Equis Contract Termination

[MikeCLT89]

Hello all,

I need your help!! I'm new to the industry and I recently began contracting with Equis but decided to work for another company (not an IMO), selling insurance (mostly health/medicare). However, I got the appointment process started with Equis and their carriers.

Equis is telling me they can terminate my contract with them but not with the carriers. I'm a little confused because they're saying it will typically take 6 months to be able to re-contract. Is that just with those specific carriers?

In other words can I start my new job without any worries (granted we don't use those carriers) or am I literally not allowed to sell insurance at all based on those individual contracts with the carriers?

Any help is much appreciated!!

 

[rousemark]

Hello all,

I need your help!! I'm new to the industry and I recently began contracting with Equis but decided to work for another company (not an IMO), selling insurance (mostly health/medicare). However, I got the appointment process started with Equis and their carriers.

Equis is telling me they can terminate my contract with them but not with the carriers. I'm a little confused because they're saying it will typically take 6 months to be able to re-contract. Is that just with those specific carriers?

In other words can I start my new job without any worries (granted we don't use those carriers) or am I literally not allowed to sell insurance at all based on those individual contracts with the carriers?

Any help is much appreciated!!

First of all, Equis is blowing smoke as far as most carriers go. If the release you with the carrier, that would effectively cancel the contract with the carrier as far as they are concerned. They just want to try to hang you out to dry for 6 months. You are not prevented from contracting with other carriers. You just won't be able to contract with those with which they had you contracted and refuse to release.

 

[MikeCLT89]

First of all, Equis is blowing smoke as far as most carriers go. If the release you with the carrier, that would effectively cancel the contract with the carrier as far as they are concerned. They just want to try to hang you out to dry for 6 months. You are not prevented from contracting with other carriers. You just won't be able to contract with those with which they had you contracted and refuse to release.

Thank you so much for the response.

I'm new to all of this and was worried that there was some sort of rule that would prevent me from selling insurance altogether. The company I've chosen to work with is very different in that I wouldn't be an independent contractor and I believe the the carriers they use are different than the 4 I began contracts with at Equis. So even if I wasn't able to sell with those 4 carriers for 6 months I don't think it would affect me. I was just worried there was some legal issue that would prevent me from working with my new company or selling insurance in general. Thanks again!

 

[PTTPFEF]

Make sure you get a copy of the contract you signed and look over it really well because they have sued a lot of agents and they will hold you to everything in the contract for two years.
I'm sure you have figured it out by now, but if not let me know I can help.

 

[billyb]

You stated that you started the process with Equis? If your appointments with carriers has not been approved they or even you can stop it by making a few phone calls.

 

[salestough212]

Equis and NAA seem to have a 6 month release both also have lifetime renewals only if you stay with them if you leave they capture your renewals , this is what I understand. So if you ever use there lead platform and leave the renewals stay with them unless you never work Insurance (retire)

 

[goillini52]

So even if I wasn't able to sell with those 4 carriers for 6 months I don't think it would affect me.

Even without those 4 companies, there are 60 more in N.C. you can use.

 

[Tahoe Ray]

Even without those 4 companies, there are 60 more in N.C. you can use.

Were all 64 of those carriers available 9 months ago?

 

[goillini52]

Were all 64 of those carriers available 9 months ago?

Good catch. No, 9 months ago there were only 60...the same # of states.

 

[Keyfin]

I recently left Equis to go with a different Company. Forester and Americo both transferred my appointment to the new company. 1 carrier stated I had to wait 6 months.
Like the other person stated, there are over 60 different companies to choose from.