Fidelity Life and another "problem" FMO

[TXINSURANCE]

Yes I submitted paperwork, agreed to NOTHING - saw their system and realized it was JUNK.

I never signed up, never did anything but make the mistake of submitting the FDL paperwork.

I need to start a thread on Sure Quote - talk about the scam of the year...

5 years in I make one mistake... I guess I am entitled to one every 5 years or it wouldn't be fun...

 

[Crabcake Johnny]

Someone needs to put together a "so you just got licensed" seminar for new agents. I can get a list in MD of newly licensed agents.

Charge 'em $99, plan their ass in a seat and give 'em all "what the hell to stay away from 101."

 

[TXINSURANCE]

1. What new agent has $99?

2. The book would make a phone book looks small

 

[Crabcake Johnny]

1. What new agent has $99?

They have the money after they get the refund for the Carlton Sheets course they returned.

 

[Guest]

After all this time I'm still confused on the difference between a GA and an FMO.

I put my life cases through Brokers Alliance. I have no idea if they would release me or not... although I only write West Coast Life and Fidelity and Assurity. I don't know if they are an FMO, an IMO, a GA or what. All I know is that they do their job.

Rick have you gone to a lawyer and had them write a letter to the FMO saying "release or we sue?" Or better yet, file the case per se (in small claims.)

Or maybe see if people here will contribute to a legal "offense" fund to get this 'fixed.'

Of course if you really want to cause a stir, find a law firm who will do a class action on this... find all the agents who think they were screwed by a marketing company... and take it to the mat!

Just bitchin', moanin' and complainin' about it (here or elsewhere) is getting you nowhere. You're not poor. Hire a lawyer and sue their ass if you feel strongly about it. That's what I would do.

Rick, if you were a 27 year old kid who didn't know what he didn't know I could see it. But you're a knowledgeable and intelligent man who has been in this industry longer than some of the people here have been on the planet... and you know what has to be done. So do it!

Al

 

[GreenSky]

=Just bitchin', moanin' and complainin' about it (here or elsewhere) is getting you nowhere. You're not poor. Hire a lawyer and sue their ass if you feel strongly about it. That's what I would do.l

Sue their ass for what? I always have the option to continue to write business where I am contracted. There is little financial loss. The only loss might be the difference in commission between what one FMO and another would offer.

Also, I would have to sue the insurance company. The company has a right to cancel my contract for ANY reason. Filing suit against a company would certainly cancel my appointment as being detrimental to the insurance carrier.

I do more than bitch and moan and I have certainly done better than "getting nowhere". There is not one contract I now have that does not include an up front release. And I will not sign with another marketing organization without this letter.

I tell others about this and probably have been successful in having other agents require a pre-nup. Perhaps my warnings and the experience of other agents will help agents have some rights eventually.

Just an FYI, you can write West Coast and most other life companies anywhere you want. You don't need a release. It's primarily in the health and annuity market where this problem exists. Should you really be curious, why don't you just ask the GA where you write your business? Sounds like an easy question to get an answer.

Rick

 

[James]

Problem with sueing Insurance Companies and established GA's is that these contracts are basically greek to Judges. The Judge will usually if not always defer to the Insurance Company as the true experts behind insurance contracts. Case Closed.

 

[Guest]

Sue their ass for what?

Because it is Tuesday. Or because the moon is in Jupiter. Or because you just feel like it. You don't NEED a reason. It's not like this is ever going to go to court or anything. I think that if you make them aware of your displeasure enough such that you have some skin in the game that they will settle this out and you will get what you want (a release).

I always have the option to continue to write business where I am contracted. There is little financial loss. The only loss might be the difference in commission between what one FMO and another would offer.

Well there you go. You have a loss. The size is not of consequence. Let the lawyer determine how much "pain and suffering" you have endured!

Also, I would have to sue the insurance company.

Why is that? The FMO can (if they want) give you a release without the permission or knowledge of the carrier. They just don't want to. I see no reason why you would have to sue the carrier... not that it would hurt you.

The company has a right to cancel my contract for ANY reason. Filing suit against a company would certainly cancel my appointment as being detrimental to the insurance carrier.

Yes they can... but do you really think they will? And just because the contract says they can, doesn't mean they REALLY can. There are "whistle blower" laws, interference with making a living laws, coercion laws, etc. In the hands of a good attorney an appointment revocation for a non-criminal, non-fraudulent reason would be a "gift." Hell, the huge media barrage you could bring down on the carrier might alone prevent them from pulling your ticket. You are not as powerless as you seem to think you are.

I tell others about this and probably have been successful in having other agents require a pre-nup. Perhaps my warnings and the experience of other agents will help agents have some rights eventually.

Yes. I agree. Good point. From your postings on the subject I felt that YOU were still angry and upset over the issue... because it was still a problem for you. I did not know that you have mitigated it for yourself. I didn't mean to minimize or trivialize your efforts to bring this to the attention of people here. It's a good service you are providing. I'm glad you have it fixed for yourself. I thought that if it was NOT fixed, that it was time for you to go and fix it. Looks like you already have done that.

Al