IMO Vs FMO Vs MGA Vs GA

Discussion in 'Getting Started Selling Insurance' started by lleaoclark, Nov 29, 2010.

  1. Agatella
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    Agatella New Member

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    You are so right. They would not release my contract from UHC and when I started making a stink no one would take my call. My only other option was not to sell any products for UHC for 6 months, not an easy feat since AARP is a major player here in western NY with absolutely no competition on their medicare supplement rates!
     
  2. Daytona_Guy
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    Daytona_Guy Guru

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    Last edited by a moderator: Oct 8, 2017
  3. johnanbdholly
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    johnanbdholly New Member

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    Is there a place on the web where a person can find a list of all the IMOs/FMOs/GMAs in the industry?
     
  4. salesgirl
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    salesgirl Expert

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    In my experience, every single carrier defines those acronyms differently. Every agency also has their own definitions. As I've come across, IMO/FMO is usually the same, MGA is usually higher than GA, but those are often used interchangeably too. Just like "broker" and "agent" are now used interchangeably, even though they used to mean two different things. (Broker used to mean an agent who worked with different carriers, agent used to mean a captive sales agent.)
     
  5. BobBarker
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    BobBarker New Member

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    Great question! I too have been wondering this.
     
  6. Todd King
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    Todd King Guru

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    An IMO and FMO are mostly the same. IMO is usually the term when referring to life and FMO is generally used when referring to health. Both would usually recruit nationwide. Most are non-captive. Hence the "Independent" part in the name IMO.

    A GA and MGA is usually interchangeable. A GA or MGA will usually have agents that are more localized and may have more hands on contact, training, and/or programs with the agents.
     
  7. crs6633
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    crs6633 New Member

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    I bet you get a lot of that on Let's Make a Deal.
     
  8. jc_does_ins
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    jc_does_ins New Member

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    Thanks for the clarification on these terms, it is of great help and at the same time now I have more questions :err:

    I signed up with a small independent agent some time ago, barely started working in life ins. again so now what I'm wondering is this:
    How exactly do I find out how they are set up with the carriers?

    My only experience with something similar before was with a local broker years ago. We were appointed directly with the carriers so I thought that's how it worked in general before joining this forum.

    Thought that I was appointed with them and they would get me signed up with the carriers. But now I'm confused knowing that there is a chance that they themselves are signed up with another Agency.

    I will try to find the paperwork I signed with them.
     

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