For New Final Expense Agents: 4 Final Expense Contract Scams To Avoid

[Todd King]

So you guys really think it's fair that if you take time, effort and training, (often hands on field training) and pour yourself into somebody that if they decide to leave you a year later for five more points they should be able to do that free and clear?

Devils advocate question

While it may not be a good feeling for the upline, yes I do. You don't own people!

 

[VolAgent]

So you guys really think it's fair that if you take time, effort and training, (often hands on field training) and pour yourself into somebody that if they decide to leave you a year later for five more points they should be able to do that free and clear?

Devils advocate question

No, but who says you really poured your time, effort and training into someone too?

 

[Todd King]

While I am not going to research it enough to say if it qualifies as fraudulent, I will definitely agree with you that it goes beyond the others. Since it is coming from the carrier, whether at the IMOs behest or not, it should be in the contract and the carrier is the guilty party.

That said, unless you somehow managed to contract for every company out there, it isn't the end of the world. Just write with another company for a while. I'm not aware of any company that refuses to move a contract indefinitely, typically just six months or so, with a few only starting the clock once asked.

I get that companies don't want agents bouncing from upline to upline all the time. However, really this is self-defeating. Smart agents just write with someone else and now the company is deprived of the premium.

Yeah, if they would just put it in the contracts I would be fine with it. Until they do it is a deceitful practice.

fraud
frôd/
noun

1. wrongful or criminal deception intended to result in financial or personal gain.
   "he was convicted of fraud"
   synonyms: fraudulence, cheating, swindling, embezzlement, deceit, deception, double-dealing, chicanery, sharp practice; More

 

[Rirwin]

The way to fix this is to not be "independent" with one IMO. Putting all of your contracts in one place makes you captive to an IMO and no real control. Even with an upfront release, agents should be very careful with some of the wording.

 

[Todd King]

The way to fix this is to not be "independent" with one IMO. Putting all of your contracts in one place makes you captive to an IMO and no real control. Even with an upfront release, agents should be very careful with some of the wording.

Not so. Agents with us are anything but captive. Even the ones that decided to put all of their contracts with us are not captive in any form or fashion.

 

[DayTimer]

Which IMO's here at the FE Forum would be considered captive?

 

[Thedude]

While it may not be a good feeling for the upline, yes I do. You don't own people!

Have you ever done that Todd? Ya know trained someone like that?

 

[Rirwin]

Not so. Agents with us are anything but captive. Even the ones that decided to put all of their contracts with us are not captive in any form or fashion.

So you release all agents at any time with no stipulations or strings attached? Do you have a copy of an upfront release you can post for others to see what it should look like?

 

[chasejordan1]

Which IMO's here at the FE Forum would be considered captive?

FEX. They say they are not but they act like it.

 

[chasejordan1]

Have you ever done that Todd? Ya know trained someone like that?

I don't think Todd or his son produce or train people they just farm contracts. Of course I could be wrong.