Insurance Sales Network of America

[CaptiveBroke(r)]

Which would be the ethical thing to do. But "seems like they will realease you if you don't owe money" and them giving you an unconditional release letter prior to contract signing are two different things.

So...what are they going to do?

 

[rousemark]

Did they say a release is a non-issue or did they tell you they would give you an upfront release?

Mrs. Richardson said they had never refused to release an agent except when the agent had a debit balance. in that case, they would want the debt paid off before issuing a release.

 

[CaptiveBroke(r)]

The question was: Will they give you an unconditional release upfront providing you don't owe a balance?

 

[Biggin]

Did they say a release is a non-issue or did they tell you they would give you an upfront release?

Even if the IMO or agency or anyone else in your upline "guarantees" a release in writing or in blood, it doesn't really matter. It's ultimately up to the company. IMOs and their downline can request that the company not allow the release even though they have given the agent a "release guarantee". Or in the case of Foresters, the IMO can grant the release and Foresters says that they won't release until 6 months of no production. Personal experience here. My upline "guaranteed" a release and then when it came time to release they told ME "nooooo problem" and then sent an email to THEIR upline to make it look like my immediate upline was lilly white and that it was THEIR upline would not allow the release. I caught them in a lie and then my upline and their upline agreed to the release and then Foresters still wouldn't allow it. I suppose that if I had little to no production it could have gone easier. Actually, the only one in this sordid affair that was dirty was my immediate upline. They made "guarantees" that they knew they couldn't honor to get my business. Neat Mgmt. and Foresters never promised me anything they didn't deliver. Nothing but respect for Neat Mgmt., they actually got put in a bad situation by my immediate upline. Morons that had to use deception to cover for incompetence.

The point of this rant is, don't be fooled into thinking that anyone but the carrier can actually grant a release.

That being said, my ENTIRE portfolio of knowledge on the subject is based on one experience. In the words of "The Waterboy".....Now you know 'dat...

 

[CaptiveBroke(r)]

If the upline will release you, I have never had a problem with a carrier or FMO above.

The whole point Im making....it makes life easier knowing you can go elsewhere if there was a situation that made it necessary for you to find another IMO.

I don't believe agents should use the release for any reason except for something material but you never know when that will be. I still say if am IMO will not give you one if you ask prior to signing their contract, then move on.

 

[jdeasy]

Can you show me a contract you have ever signed with any FMO/IMO that said you need a release?

I have never seen the language anywhere. It's just a dirty little slavery agreement between the IMO/FMO's and the companies.

It could be beaten in court, but most agents do not have the resources to take it to court and by the time it's settled enough time has passed by that you could be released anyway.

A good reason to grant a release is if the agent wants one. There should be no other restrictions. If there is a debit then, of course, the debit has to settled.

yeah, maybe an agent is making the wrong move to leave. So what? People make mistakes all the time. If it was a mistake they will come back. I've never understood the forcing an agent to stay with you deal. If I'm with an FMO and want released and they refuse, how much good am I am going to be to that FMO going forward? I would just forge my own release by writing other companies.

The "we have always done right by our agents" is just frickin baloney!! Put it in writing that you will do the right thing. Or, better yet, put it in writing that you will force an unwritten rule upon your agents.

Barring that, shut the hell up about doing the right thing.

 

[GoCubsGo]

A good reason to grant a release is if the agent wants one. There should be no other restrictions. If there is a debit then, of course, the debit has to settled.

Exactly. Never had to deal with it until this week. Submitted to switch Americo. Had not written any business with them in over a year but they said I needed a release. Called the IMO and they said I didn't need a release as I haven't written any Americo business in last 6 months. Told them Americo wanted one anyway. They said they give it to me but they are dragging their feet. Not much I can do. Ridiculous.

 

[Todd King]

Can you show me a contract you have ever signed with any FMO/IMO that said you need a release?

I have never seen the language anywhere. It's just a dirty little slavery agreement between the IMO/FMO's and the companies.

It could be beaten in court, but most agents do not have the resources to take it to court and by the time it's settled enough time has passed by that you could be released anyway.

A good reason to grant a release is if the agent wants one. There should be no other restrictions. If there is a debit then, of course, the debit has to settled.

yeah, maybe an agent is making the wrong move to leave. So what? People make mistakes all the time. If it was a mistake they will come back. I've never understood the forcing an agent to stay with you deal. If I'm with an FMO and want released and they refuse, how much good am I am going to be to that FMO going forward? I would just forge my own release by writing other companies.

The "we have always done right by our agents" is just frickin baloney!! Put it in writing that you will do the right thing. Or, better yet, put it in writing that you will force an unwritten rule upon your agents.

Barring that, shut the hell up about doing the right thing.

Preach it brother!!

I whole-heartedly agree! It's never made sense to me why some won't grant you a release.

Different companies do have different rules. Some still want a release even after 6 months.

To clue you in on another thing, different IMO's/FMO's have different deals with the companies. If a company's SOP is to release after 6 months, many still make little side deals where no matter what the timeline is, they still need a release.

 

[Ron Van D]

Barring that, shut the hell up about doing the right thing.

Don't mind JD. He's been cranky ever since IU put a whoopin' on his Wildcats!!

 

[jdeasy]

Don't mind JD. He's been cranky ever since IU put a whoopin' on his Wildcats!!

Don't you make it personal now!!