Guess I'll Try My Question in the General Area...

[gmveesaert]

I got my insurance license & signed on with a company I thought would be good because they supposedly support my own personal goals; i.e. active in the community, customers first.

Unfortunately, I'm finding that my community activities are only valued if they're producing immediate leads, I'm being treated as an employee instead of a contractor & the company's P&C rates are so un-competitive in my market that there is no way I'm going to be able to sell enough of them to make quotas.

Now, it's not my selling, because I'm doing very well with two other companies in health, LTC, etc. So, I'm thinking I should've followed my original gut & started out IA, but since I didn't how do I go about getting out of the contract?

Thanks for your thoughts.

 

[joshril]

What type of contract did you sign? If the rates are not competitive with the carrier you are appointed with, I would suspect you could just walk away and find other appointments elsewhere.

I need more details about the contract to give you a solid answer.

I got my insurance license & signed on with a company I thought would be good because they supposedly support my own personal goals; i.e. active in the community, customers first.

Unfortunately, I'm finding that my community activities are only valued if they're producing immediate leads, I'm being treated as an employee instead of a contractor & the company's P&C rates are so un-competitive in my market that there is no way I'm going to be able to sell enough of them to make quotas.

Now, it's not my selling, because I'm doing very well with two other companies in health, LTC, etc. So, I'm thinking I should've followed my original gut & started out IA, but since I didn't how do I go about getting out of the contract?

Thanks for your thoughts.

 

[gmveesaert]

What type of contract did you sign? If the rates are not competitive with the carrier you are appointed with, I would suspect you could just walk away and find other appointments elsewhere.

I need more details about the contract to give you a solid answer.

I don't remember all the details, but will read it over again tomorrow and post the highlights here. Thank you much for your offer of help!!

 

[djs]

I don't know to many captive P&C agencies where it is that hard to get out of the contract, especially early on. If you have taken some of their money (such as subsidies or loans), they may want that back.

90% of the time, if you don't want them, they don't want you. It's not the same as some GA contracts that can be hard to get out of (mostly a health issue, GA's in P&C tend to let you go).

Dan

 

[gmveesaert]

I don't know to many captive P&C agencies where it is that hard to get out of the contract, especially early on. If you have taken some of their money (such as subsidies or loans), they may want that back.

90% of the time, if you don't want them, they don't want you. It's not the same as some GA contracts that can be hard to get out of (mostly a health issue, GA's in P&C tend to let you go).

Dan

That's good to know. I'm independent for health. It's just the P&C I've signed an agent agreement for. It's Farmers, so it's a DM instead of a GA.

 

[joshril]

That's good to know. I'm independent for health. It's just the P&C I've signed an agent agreement for. It's Farmers, so it's a DM instead of a GA.

I am pretty sure if it's Farmers, you are good to go. How long have you been with them? If they have invested in money in you, you might be on the hook for that, but I would think they will let you go pretty easily.

 

[xrac]

I am pretty sure if it's Farmers, you are good to go. How long have you been with them? If they have invested in money in you, you might be on the hook for that, but I would think they will let you go pretty easily.

Joshril is probably right. They burn through agents at a great clip and are use to releasing them.

 

[gmveesaert]

Joshril is probably right. They burn through agents at a great clip and are use to releasing them.

I noticed. All they have in me is a serious load of online training courses that were teh suckage. I wish someone would tell these training groups that not everyone is a visual learner. I don't need idiotic little fake people telling me things so slowly a kindergartner could understand. Just give me the book... I'm more than happy to RTFM.

I haven't careered, so I haven't taken any draws. 120 days was 7/21.

 

[joshril]

I noticed. All they have in me is a serious load of online training courses that were teh suckage. I wish someone would tell these training groups that not everyone is a visual learner. I don't need idiotic little fake people telling me things so slowly a kindergartner could understand. Just give me the book... I'm more than happy to RTFM.

I haven't careered, so I haven't taken any draws. 120 days was 7/21.

Sounds like you're in good shape.. especially since you haven't taken a draw. I would provide them a resignation letter and move on.

 

[gmveesaert]

Hallelujah! I was hoping that would be the case. I figured if the guy they were spending almost all of their time on because he was about to career could leave, I was probably safe.

Thanks, all!