Equita Final Expense Contracting

[magagent]

I am going to post this again last night I recieved another phone call from another agent, who is in the same boat that I am. Equita's final expense gets a lot of praise and hype on this board due to certain people on this board that "endorse" them. As good as Equita claims their program is we have one major flaw with that. Releasing an agent..

Guys and gals, look at the end of the day we are the only one's that are held responsible for our actions. If I have a ZERO debit balance, and I have not written any business, any agent you should be able to move their contracts to whereever he or she desires. It is not Equita's business If I chose to take a .55% contract.

Here is the point, call Equita up if you are interested in their program, and ask EFES before you sign anything if they will give a release, and you want this in writing. If they will not which they won't take your business elsewhere!! Lots of people on this board will give you a relase no question asked and if they will, do not do business with them either.

Rick, if you say Equita gave you a release no questions asked then I believe you. I know several who were told no way.. I like to do business and develop relationships the proper way, by forcing any agent to remain under your captivity is not doing business the proper way in my book.

So, agents do your homework before you sign on with anyone! Call Equita or anyone else up before you sign and say will you give me a release and just go ahead and fax that over to me in writing.. FMO's/NMO's/IMO's/GA's/Equita just do business to proper way and if someone wants to end "their relationship" with you and they do not have a balance just let them go and move on..

Have a good day.

 

[GreenSky]

Absolutely correct and as you posted, this applies to ALL marketers who want your business.

Perhaps I was lucky with Equita. I had spoken with Hoosier Daddy and he proved to be unreliable and impossible to reach. It was on that basis that I received a release from Equita. Keep in mind, I had not written any business with them.

Rick

 

[Newby]

I agree that if an agent is just after a contract he should be given an unconditional release anytime he wants. I've recruited many agents for companies and if any of them ever wants to switch, that's always fine.

But you don't sign on with Equita to just get a contract. You sign on to get training and learn a marketing system. I can understand why someone that trains you on thier system and their specific products wants exclusive loyalty from you for a period of time.

It's really not a big deal in final expense anyway. There are SO many great companies. If I was locked out of one for a period of time I would just choose from the dozens of others and keep right on selling. No one could ever hold you captive with final expense.

Rick in Hoosier Daddy's case, he has 100s of agents calling him. He gives structured training at schedualed times and has question and answer sessions with each one of them. Plus he sells in the field 3-days a week. You can't expect him to be available to keep taking personal calls with your questions outside of that structure. Especially when you have said yourself you never sold anything. People can't work for free forever.

I don't know all that much about Equita. But I highly recommend Hoosier Daddy for agents that are either new or underperforming with final expense sales.

But for agents that are total independents and can blaze their own trail successfully, it's not a good fit for them. You will get higher contracts and more freedom elsewhere.

 

[retread]

Last March, I got all pumped at the prospect of working with Hoosier Daddy and EFES. I called EFES and spoke with the guy in charge of the program and asked about a pre-nup release. He said "no problem".

I then bought a plane ticket to Indianapolis and prepared to go to the "Hoosier Daddy and Stratos" training program. In the meantime I read the contracts I was asked to sign and did not like what I saw. I tried to discuss this with them, but they didn't seem to have a grasp of what EFES had in their contracts. I assumed it was because they had their own previous personal contracts and just hadn't got around to reading the ones being asked of their recruits. In my discussion with Hoosier Daddy, he allowed that it was not that EFES would release me or not, it was that he would not, but "not to worry, I'll just place you under another one of my carriers (contracts)." It was his position that to get his (EFES) training I would be obligated to remain his downline, and that meant no release.

I again contacted EFES to revoke the papers that I had signed to start, and again asked about the release procedure, at which time I was told it was in the hands of their regional director, in my case Hoosier Daddy. That's a long way from "no problem".

When I opted out of the program (before I ever started), there was a lot of venom directed at me for some reason.... ostensibly out of fear I would make a deal out of this on this forum where they recruited.

It is amazing that tempers flare when an agent, especially one that is active on this forum, asks for a pre-release. I can only guess that it exposes a sore spot.

 

[magagent]

I have no doubts someone will be along shortly to tell me that "I am not a team player" or "I am a trouble maker"..

 

[Newby]

I guess I just don't get it. How does a final expense agent feel like he's trapped?

You have Settlers, Oxford, RNA, Monumental, UHL, Assurity, Baltimore Life, Lincoln Heritage, Mutual of Omaha, Forresters, Americo, Lafayette, and dozens more all wanting you to sell for them and offering great commissions.

No one can hold ANYONE captive in this business. Don't try to cling to one company or one brand. There is no company that has a huge advantage over any other.

 

[theinsuranceman]

Yea..Hoosierdaddy was getting everyone pumped up about joining him at equita a few months ago. I left him 3 voice mess. on his cell and sent him 2 emails..and never heard from him. I knew from this experience that the training, mentoring, and maybe leads would be a hoax.

If a mgr. has 100 agents and can't return calls, emails, etc. then either stop recruiting and help the 100 agents you have, or at least hire someone to help w/ your correspondence for new agents. I believe some would say that is called "management".

 

[retread]

I guess I just don't get it. How does a final expense agent feel like he's trapped?

You have Settlers, Oxford, RNA, Monumental, UHL, Assurity, Baltimore Life, Lincoln Heritage, Mutual of Omaha, Forresters, Americo, Lafayette, and dozens more all wanting you to sell for them and offering great commissions.

No one can hold ANYONE captive in this business. Don't try to cling to one company or one brand. There is no company that has a huge advantage over any other.

The point is, that if you leave an upline without a pre-nup release, he can prevent you from selling your preferred product, not to mention abandoning all future renewals you earned.

If you do well with one carrier, you will want to stay with them, but you can't do that if the contract you sign with an upline locks that up when you leave.

 

[magagent]

Newby, you are correct that an agent has so many choices when deciding whom to do business with. Companies offering final expense are on every corner these days.

My point is as an Independent Agent, I should have the Freedom! to move by contracts to wherever I chose. Specifically, not being able to write RNA is that preventing me from making a great income for my family.. NO it does not but I should not have to wait 6 months before I can establish another realtionship with RNA.

 

[jdeasy]

Yea..Hoosierdaddy was getting everyone pumped up about joining him at equita a few months ago. I left him 3 voice mess. on his cell and sent him 2 emails..and never heard from him. I knew from this experience that the training, mentoring, and maybe leads would be a hoax.

If a mgr. has 100 agents and can't return calls, emails, etc. then either stop recruiting and help the 100 agents you have, or at least hire someone to help w/ your correspondence for new agents. I believe some would say that is called "management".

Hoosierdaddy is a fine person and he is a great manager for an experienced agent. I don't know how he would be for a newbie.

I believe he did get over extended with agents and he has stopped taking new agents just as you suggested he should.

The EFES deal is not for everyone and everyone is not for EFES. It's unfortunate for you that you were not able to get in with Travis when it was available. If you had, I'm sure you find it worthwhile.

I believe that I could be released from my contracts with EFES based on my prior discussions and agreements. I have no reason to ask for a release, so, I can't say for sure. If, however, it was to be proven correct that I could not be, I would do just as Newby has said. I would write for other companies during whatever waiting period I had to endure.

I know of 2 people personally that were given releases from EFES. I see that Rick says he was released. I've have private conversations with magagent and he was not granted a release. I can only gather that releases are conditional.

I have one contract with Newby. I don't even know if the contract guarantees me a release if I ask for it or not. However, I am certain that he would release regardless of the contract.

We all need pre nups, I suppose, but, we all also need to have a basic trust with whom we do buiness with. Without that, the contract is worthless anyway.