- 2,301
Then be a man and walk out. Don't use the position to screw your employer. There is no harm or shame in leaving the business or finding a different route.
Independent Agent vs Captive Agent
- Thread starter Whitney S
- Start date
Then be a man and walk out. Don't use the position to screw your employer. There is no harm or shame in leaving the business or finding a different route.
I can't get unemployment that way if i quit and I have a family to support. I want to make sure I have something solid to stand on before I just up and quit especially in this climate of Coronavirus. I just wanted to make sure that I wouldn't lose my license, if I never plan on being captive again it doesn't seem to be too bad of an impact to do what I intend on doing.
There's a difference between being captive with an agency and captive with an insurance company. Are you an employee of an agency or an insurance company? Just out of curiosity, how are you making any money with 0% commission? And WHY would you agree to 0% commission?
I'm an employee for a company that sells life insurance, I get a base hourly pay with commissions as a bonus monthly. However last year that all changed since the company wanted to save money so instead of at least giving a 30% commission on small production, now it is 0% with goals that are 200-300% higher than before. Imagine the quota being 6650 a month and then it jumps to 14,000-18,000 and if you don't hit 50% to goal you don't get 10% of what you wrote. They got greedy. Hence why I'm looking to leave and why I don't care if I'm hurting them by writing business as an independent outside of their business and then leaving.
- 30,581
Jordan might have to "cheat" on his/her ethics test.
- 2,301
You would be the first one to holler if the captive "cheated" you out of a portion of your paycheck or commission but you don't see any problem with your plan because you have justified your action. You are not cut out for this business which depends on honesty and integrity. I have left or been left by different carriers over the years which has put me out on my empty pocket butt. Put your energy into writing business for the independent carriers you are appointed with and the money will flow. Make sure you don't owe the captive any money because if you screw that agency they will definitely come after any money you owe and you NEVER want to have a Vector hit. Unemployment benefits can be denied if you are fired for cause and I had an agent put me through hell so he would not have to pay. He lost but it took 3 months and two administrative hearings to get the back benefit.
- 30,581
0%, how do you eat?
- 30,581
I hear that Amazon's hiring.
- 11,513
There's always more to the story. Of course, by quitting, you can't get unemployment. You have to be terminated or laid off.
HOWEVER, your compensation changed last year. We're into May already. How have you done during that time? Apparently you accepted these terms last year, so it's not all that sudden, right?
That's a strong statement to say. I've given so much to this company only to be taken advantage of while all of the people making 110% get free leads and are stealing my book of business without management caring. Ethics would be nice but they don't exist in this business as long as I take care of my clients and give them a good deal and don't lie to them, I will succeed. I've had agent coworkers coworkers say that I and other coworkers don't work here anymore while they proceed to steal our clients and they live 150 miles away from us. There's no honor in this business. I'm good on my chargebacks and I have money to pay the ones that come if they do. I'm not worried about that.
