I Think I Got Screwed by My Captive Agency-Advice Please!

[Norwayguy]

Let us not forget according to her post she just jumped from one Amerilife Fry pan into another. She should research her existing contract so she knows where she stands.

 

[texaslady]

Thanks for all the input and advice. I decided to go with a primarily P & C insurance agency, that is trying to expand and venture in the Life/Health/Senior market, so they have offered me an even split of 70% of whatever they get paid by the carrier across the board (to start). They work with many MGA's, so I will be able to sell most of the same products. They also have an established book of business, which will be my lead system, I will be calling on their existing clients (mostly commercial accounts, so business owners, etc.) and setting up meetings to sell them their health, life, annuities, LTC, and Medicare Supplements, MAPD if I have to (I hate the scope forms and all the nonsense).

Anyways, I have a good feeling, they have been up front and honest so wish me luck guys!

 

[arnguy]

Good luck!!!

 

[thall]

Keep in mind Texaslady, those scope forms are for advantage plans only. I cannot spell a state without a capital letter, impossible.

 

[texaslady]

Keep in mind Texaslady, those scope forms are for advantage plans only. I cannot spell a state without a capital letter, impossible.

Yes, I know. I also know (at least here in Texas) that zero premium Medicare Advantage Plans are slowly going away and becoming a concept of the past, and honestly, I personally just believe Medicare supplements (Plan F) offer such far superior coverage with no restrictions, so I really focus on getting clients into these, or converting over. I have found out that many seniors don't realize what they're getting into signing up with an MAPD, and what it doesn't cover (If you get cancer, you're basically screwed). They get sold on that zero premium, or just buy AARP Secure Horizons because it's been shoved down they're throats since they were fifty years old.

MAPD's are good for people on a budget, especially healthy people who want that buy down, for 2011 in Texas, Universal Healthcare is offering some plans with a $70 buy down. This can really help some seniors on a restricted budget. Some people though are just cheap and are not willing to pay a premium at all for a Plan F or Medicare Select plan, so I can offer an MAPD if need be, but those damn scope forms are such a pain in the ass!

 

[roccosoprano]

I hate to see agents get screwed but it happens more than I would like to admit. First of all where you appointed with the carriers.? I am sure you where and that means they have accepted your contract to sell the products. If there was an issue with your appointment the carrier would not have appointed you 9 times out 10. However Its a good thing this happened now and not months down the road. Forget your losses and move on.

www.trygohealth.com


Good Luck

I began working at the end of August for Amerilife, a captive agency new to Dallas. They sent me out to Tampa to train me on Medicare, Medicare Advantage Plans, and Medicare Supplements. I did all my appointments with the insurance carriers online, and began working. I sold three Medicare Supplement Plan F's and a final expense policy. I signed all the policies, collected voided checks and premiums, and they were sent off to corporate.

When I asked my boss on Friday about my paycheck, he said he hadn't received it and didn't know why. I had already been working close to one month. I then asked the office secretary, and she emailed the corporate office. They said that when I was originally hired, I didn't submit proper forms of identification, so I technically wasn't officially hired yet. I needed to be issued an Amerilife number before I could ever receive a paycheck. Well, initially I had submitted my passport and social security card, and that wasn't enough, so that same day I went down to the DMV and got a Texas state ID card made, and the secretary faxed that to corporate the same day.

Two days later, I inquired about my status, and my boss said that I didn't disclose a pending DWI that I have on my application, so that triggered an extensive background check, and it would take up to four weeks to clear. At this point I am getting very mad because I keep getting a different story as to why I won't get paid. Keep in mind, my boss keeps telling me my paycheck is coming, not to worry, just get out there and sell. I had the secretary pull my application, and it only asks about felonies, not misdemeanors, so I didn't lie on it like my boss had said. My boss informed me that if for some reason Amerilife decides not to issue me a number, he would sign my policies and take the commission, and pay me cash under the table. (yeah right).

At this point, I told him that I know longer want to commit any further with this company, and to please release me so that I become a general agent, and I would just cut my losses. He told me he had a busy schedule, so it may take two weeks for him to release me. I then called corporate, they put me on hold for literally two minutes, and released me to the general agent side of Amerilife, that's how long it took! My boss had told me that corporate would have to send him paperwork that he would have to sign off on, and when I spoke to corporate, they told me that they had no idea why he told me that.

Is this common in the insurance world? I guess I lost all my commissions, and right now I am going through the process of getting appointed with the insurance carriers as a general agent. I was working with some leads right about the time I decided to leave the captive agency, and my boss texted me this morning telling me I am not allowed to have any contact with any clients, even those I have been talking to and haven't actually sold anything to. This entire time I have been selling United of Omaha Med Supps as the least expensive Plan F in my area, my boss tells us this all the time. Well, come to find out, Sentinel is the least expensive, so I want to go back to those clients and sell them the Sentinel Plan F, but I'm not sure if I'm legally allowed to do this..... my old boss says no, but I take what he says with a grain of salt.

Thoughts? Advice? Did I make the right decision? Any input is appreciated....

 

[texaslady]

I hate to see agents get screwed but it happens more than I would like to admit. First of all where you appointed with the carriers.? I am sure you where and that means they have accepted your contract to sell the products. If there was an issue with your appointment the carrier would not have appointed you 9 times out 10. However Its a good thing this happened now and not months down the road. Forget your losses and move on.




Good Luck

No, that's the really messed up part.... I was never actually appointed with any carriers. I did all the appointment stuff online with all their different carriers, but when the General Agent side called United of Omaha, they had no record of me based on my SSN. Apparently all my appointments were put on hold and were in limbo until my stupid "Amerilife number" was issued, which never got issued because of my extensive background check, but they never told me any of this, I was out selling policies and signing them, turning them in, they were sent off, that's why I'm so confused. I am wondering what the people at United of Omaha are thinking, they are probably wondering who the hell I am. I wish Amerilife would've told me I wouldn't be receiving a paycheck and that I wasn't officially appointed instead of leading me to believe otherwise.....