Fear of a suspended license

[Aleqsander]

Hey guys, I'm very new to the independent side but have been a captive agent for the last 2.5 years, I recently just left the "life insurance for unions" (Yeah I know) I just got fed up how my SGA was treating everyone. Well long story short two things:
1.So he's attempting to block/suspend my license.
I actually dont know how he can possibly do this but his receptionist is very close to me and she told me to watch put because he was very upset and wanted to get " revenge ". He has done this sort of things in the past to a whole team I use to to be under and they couldn't sell insurance for a year. So I'm afraid of what can happen when I have done nothing but protocol since ive been here. What do I do? Get an attorney? Anyway its frustrating.

2. Before I left the company I stumbled upon nasty dirt, his "top manger" has 47 different policies with 43 of them being lapsed only good for 4 months and rewritten up. The funny things was the client has the same last name and that manager. I could only assume he was writing his family over and over to take the commissions when he needed a "raise" and you get the rest.

What do I do? I'm trying to get appointment to carriers. Do I report this to the DOI? Like it just sucks I'm trying to leave to make up the lost time I've put in to there and try and actually make real money. Please help me, anyone. I cant even sleep because of the stress this is putting on me hence why this post is at 4am.

 

[Golfnut2112]

You are worrying for nothing, there is no way he can suspend your license. If you did something illegal or wrong he can report your activity to your states insurance commissioner if you didn’t do anything wrong don’t worry about it. If you signed a non compete agreement he can try to prevent you from working with in a certain radius however I golf with a few attorneys and they all said those are very hard to enforce in the insurance business. Just don’t replace their business and you will be fine, if he gives you problems get an attorney.

 

[Aleqsander]

It's not him that suspend the license, it's the company that he will go up to and he knows the president and the CEO. My buddy that was there two years ago so that they had to sell burial insurance for a year because he got them all suspended.

 

[Golfnut2112]

suspended from what? How was your buddy able to sell burial insurance with a suspended license? You may not be able to sell for a particular company but you should be able to sell other companies

 

[rousemark]

It's not him that suspend the license, it's the company that he will go up to and he knows the president and the CEO. My buddy that was there two years ago so that they had to sell burial insurance for a year because he got them all suspended.

A company can only suspend your ability to represent them. It does not affect your ability to get a license to represent other companies. And, what is so bad about selling burial insurance? There are guys on the forum that make $200K+++ selling nothing but final expense..

 

[Newby]

A company can only suspend your ability to represent them. It does not affect your ability to get a license to represent other companies. And, what is so bad about selling burial insurance? There are guys on the forum that make $200K+++ selling nothing but final expense..

Come on Rouse! Selling burial insurance is death sentence!

 

[WinoBlues]

It's not him that suspend the license, it's the company that he will go up to and he knows the president and the CEO. My buddy that was there two years ago so that they had to sell burial insurance for a year because he got them all suspended.

F um!

If they treat you like this you are well to be clear of them. You were just a meal ticket to them.

First go to your DOI website. Make sure your address is Your Address and not the agency. Primerica is good about doing that.

Can they block you from that company? They can not but if a big agency with them has more clout than you. Recently one of the guys on here went through something similar with a FE company he was a heavy hitter with. I do not know but would guess he is now a heavy hitter with a different company.

Never, ever, ever let anyone hold sway over your business and ability to earn again.

Now, Go forth and Prosper

 

[tikibarrister]

It's not him that suspend the license, it's the company that he will go up to and he knows the president and the CEO. My buddy that was there two years ago so that they had to sell burial insurance for a year because he got them all suspended.

Are you confusing license and contract? Your state DOi handles licensing - he can’t touch it. But if you’re contracted to various carriers and he doesn’t give you a release, then he could block access to those carriers for a period of time.