Equita: Help Navigating

[Agentguy5]

When I signed up under NEWBY and 360, they had no problem giving me a conditional release, before I even signed up... Some guys just have no problem with doing the right thing...

I guess that's why we have Heaven and Hell...lol

 

[Sam]

So if RNA wouldn't recontract a Top 10 agent because of an agreement with a 3rd party I would seriously have to reconsider if I wanted to contract with them.

No offense, but this really is pie in the sky. They have a contractual agreement with the FMO's. They may try to lean on an FMO to release someone, but they do not have the right to just go and reappoint someone in violation of their agreements, just because that person is a heavy hitter.

I have always agreed with Rick on this releases issue, I have no problem with someone who invests in an agent holding them captive or not giving releases. The wrong part of it is in not disclosing what they are doing very clearly to the agents who sign up.

 

[jdeasy]

No offense, but this really is pie in the sky. They have a contractual agreement with the FMO's. They may try to lean on an FMO to release someone, but they do not have the right to just go and reappoint someone in violation of their agreements, just because that person is a heavy hitter.

I have always agreed with Rick on this releases issue, I have no problem with someone who invests in an agent holding them captive or not giving releases. The wrong part of it is in not disclosing what they are doing very clearly to the agents who sign up.

It doesn't sem like you are in agrement with Rick on that.

The other side of that is the agent is not part of that contract agreement but the agent is the one penalized by it.

It probably is pie in the sky to expect companies and IMO's to be honorable.

 

[Norwayguy]

No offense, but this really is pie in the sky. They have a contractual agreement with the FMO's. They may try to lean on an FMO to release someone, but they do not have the right to just go and reappoint someone in violation of their agreements, just because that person is a heavy hitter.

I have always agreed with Rick on this releases issue, I have no problem with someone who invests in an agent holding them captive or not giving releases. The wrong part of it is in not disclosing what they are doing very clearly to the agents who sign up.

I have no problems with holding agents captive to a contract they sign. My issue is please point out the portion of the contract that says that.

 

[Newby]

I wonder how the insurance companies evolved to the current way where agents can contract with multiple FMOs on annuities, term life, etc. but only one for Med Sups and Final Expense.

I've never had a problem releasing any agent that wants one but I can see Equita's problem. They had at least one agent we all know of sign up with them, run up thousands of dollars in debt, walk away from them and start his own profitable business selling training through a website to agents using Equita's information.

I can see where they feel screwed.

 

[Norwayguy]

I wonder how the insurance companies evolved to the current way where agents can contract with multiple FMOs on annuities, term life, etc. but only one for Med Sups and Final Expense.

I've never had a problem releasing any agent that wants one but I can see Equita's problem. They had at least one agent we all know of sign up with them, run up thousands of dollars in debt, walk away from them and start his own profitable business selling training through a website to agents using Equita's information.

I can see where they feel screwed.

I don't know what you mean by multiple FMOs for annuities....I can get multiple writing numbers for life but typically with annuities its 1 writing number per carrier and the 6 month wait can really hurt as carrier turn on and off the faucet by lowing interest rates and caps to get less business and raising them to get business. You don't want to be sitting out 6 months with the most competitive annuity carriers all at once.

 

[Newby]

I don't know what you mean by multiple FMOs for annuities....I can get multiple writing numbers for life but typically with annuities its 1 writing number per carrier and the 6 month wait can really hurt as carrier turn on and off the faucet by lowing interest rates and caps to get less business and raising them to get business. You don't want to be sitting out 6 months with the most competitive annuity carriers all at once.

I could be wrong but I think I'm appointed with Great American through two different places.

 

[Dan3211980]

What are the main companies that Equita appoints agents with? I've noticed they have an office in my area now, and have been posting ads heavily to recruit. Have no desire to go to them I'm very happy with my IMO and being able to run my own business, just want to know any competition in the area.

 

[Norwayguy]

I could be wrong but I think I'm appointed with Great American through two different places.

So was I but the appointments were Great American and Annuity Investors Life two seperate companies under GAFRI...Actually I am in the same situation with MoO...I have an Appointment for Mutual of Omaha and a seperate one with a different upline for United of Omaha.

 

[jdeasy]

What are the main companies that Equita appoints agents with? I've noticed they have an office in my area now, and have been posting ads heavily to recruit. Have no desire to go to them I'm very happy with my IMO and being able to run my own business, just want to know any competition in the area.

EFES only has an office in Dallas. You may have an EFES agent in your area that's recruiting but unless you are in Dallas it's not an EFES office.

The EFES companies are Americo, AmAm, RNA, Oxford, Monumental, Foresters, Kemper, Liberty Bankers and some more thant I can't remember off the top of my head.