How Do I Stop My Appointment with an Insurance Co.?

[matilda654]

I signed up with AMBA and went to an intensive one week training course and on the second to last day of training found out the two companies they are appointing us with are going to charge 10% interest for the money they are advancing us. I do not want them to cancel my previous appointments, nor do I want to be appointed with them. My paper work was turned in the beginning of the week. How would I go about solving my problem. I was thinking I could call the bank and see if the checks have cleared and if not stop payment on them. If they have gone through, can I just call the two insurance companies by phone and ask them to cancel my appointments?. Not sure exactly how this works.

 

[Mark]

I would call the insurance company and ask them. Also send them something in writing.

 

[insuranceexec]

I would call the insurance company and ask them. Also send them something in writing.

To add to what Mark has said; I would also take detailed notes:

1. time and day
2. name of the person & direct number with whom you spoke
3. title of that person

I would also start the conversation by saying that you are taking detailed notes or that you are recording the conversation; this will make sure that they answer you knowledgeably as opposed to just trying to get you off the phone. Great question.

 

[stormtracker]

I am assuming from your post that you paid, in advance, for training (licensing?) and materials. I'd echo the other posts which recommended that you call the carriers to whom you are supposed to be appointing with and be frank with them-- I don't think you will get monies refunded, however your appointment paperwork does not obligate you to ever sell for them. Here in Texas, if a carrier appointment needs to be concluded, the DOI simply asks you to fax them that request. However, it is my understanding that your contract through the FMO is another matter entirely-- meaning that you cannot sell through that carrier somewhere else until the FMO releases you. It gets complicated sometimes, and speaks to the warnings in this forum about blindly signing up through FMO's before you check them out.

 

[TxJeffH]

Your contract probably has a 30-day notice of termination, read it. It works for either party, however most companies will terminate you upon written request. Don't do anything by phone. Email is adequate and is a good paper trail. Don't shoot yourself in the foot by being demanding or caustic, you may want to be reappointed with that company someday. Many companies will let you return (with reasonable commitment) after some specific period of time, like 6-12 months, without approval of the original marketing office (unless they're really big and are somewhat exclusively protected in their area by regional management.

 

[niceguy059]

are you paid for training?

 

[TxJeffH]

I'm AVP in Mktg at a Home Office of a small Life company operating is niche markets.
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Oops, I meant to say operating in niche markets. I've been a trainer and recruiter fo 30+ years.