It looks like Equita is in the Mortgage protection business as well as fe.

[cityseal]

Sounds interesting...

 

[TopCat]

Was discussing Mag's post with my friend thinking about contracting options, etc. and I failed to remember one HUGE issue with Equita. I would first like to apologize for missing this in my initial post in which I said they "fall short in a couple of areas."

It's not quite as simple as that. They do fall short in to me what is the biggest of issues which is also a HOT topic on this board...releases and/or lack there of. Being contracted with Equita means that you are married to Americo via Equita. You may have one way out and that would be to pay in cash for all of the money you were advanced and then you might get a release. That in and of itself is not that far from the norm on a product with the amount of fallout as a MP product however the next fact blew my mind when I saw it happen.

Equita has the ability to and will exercise at their discretion the option of blocking and/or reversing contracting with carriers that the agent did not have prior to contracting with Equita. This is due to what I would call side agreements between IMO's to expressly not allow the contracting of their agents and/or to reverse such contacts if they are then found out.

I know some will say that can't happen. I can only say yes they can, have and will.

Again, not meant to be a bash of any type, just the facts.

Hi WIN,

I read your post on your friend with the MP experience. I also don't have enough posts yet to PM you. Can you please email me any info. on his program and his contact info. Thanks for your help.

Tony
[email protected]

 

[retread]

Was discussing Mag's post with my friend thinking about contracting options, etc. and I failed to remember one HUGE issue with Equita. I would first like to apologize for missing this in my initial post in which I said they "fall short in a couple of areas."

It's not quite as simple as that. They do fall short in to me what is the biggest of issues which is also a HOT topic on this board...releases and/or lack there of. Being contracted with Equita means that you are married to Americo via Equita. You may have one way out and that would be to pay in cash for all of the money you were advanced and then you might get a release. That in and of itself is not that far from the norm on a product with the amount of fallout as a MP product however the next fact blew my mind when I saw it happen.

Equita has the ability to and will exercise at their discretion the option of blocking and/or reversing contracting with carriers that the agent did not have prior to contracting with Equita. This is due to what I would call side agreements between IMO's to expressly not allow the contracting of their agents and/or to reverse such contacts if they are then found out.

I know some will say that can't happen. I can only say yes they can, have and will.

Again, not meant to be a bash of any type, just the facts.

Note... DID NOT HAVE means you picked up this contract from Equita.

I just came across this thread, so my comments are a little late on the subject, but suffice it to say that this appears to be common practice in both Life products/and IMOs as well as Health products/and FMOs. They have a "gentlemen's agreement" to not raid one another's heirarchy. I don't blame them. If you are concerned, just don't sign the request for advances on commissions and take them "as earned" and you can get your walking papers easier.

My strategy is to not put all my eggs in one basket. As an independent, I put some contracts here and some there. That way, if push comes to shove, any problem with my upline will not put me at such a disadvantage that I would have to choose between going without any sales (and starving) in order to close a contract, or caving in to them (being enslaved) with continued dissatisfaction.

I have been ensured verbally by Equita that they would have no problem with a release should I ask for one, but words come easy. Trust, but verify... (RR)

The big problem is chargebacks from advanced commissions, followed closely by chargebacks from cancelled policies. You can understand they are not going to subsidize your costs if you leave them. If your hierarcy is not a good fit, settle up your financial obligations and move on. Just don't wait until that moment to have a plan in place if you meet resistance.

 

[nka245]

maybe they are going to be the new naa... naa won an injunction against them yesterday and it looks like they are both shady but NAA is way worse. You all need to read the affidavit of Mr. Montebon. I will post in 6 more posts when they will let me. I forgot my stupid login and had to create a new account...

 

[360]

I have been ensured verbally by Equita that they would have no problem with a release should I ask for one, but words come easy. Trust, but verify... (RR)

Exactly...last time I checked a verbal release and $1.99 does still get you a cup of coffee!

 

[retread]

Exactly...last time I checked a verbal release and $1.99 does still get you a cup of coffee!

Yep, already got a reversal of his position in an email today.

I am pressing for a written agreement. I am spending an inordinate amount of time getting this resolved. The thought comes to me, that if it is this hard to nail down now, it will be more difficult if at all possible when needed.

As this thread develops, I may find that it will be necessary to let this "opportunity" pass.
- - - - - - - - - - - - - - - - - -

maybe they are going to be the new naa... naa won an injunction against them yesterday and it looks like they are both shady but NAA is way worse. You all need to read the affidavit of Mr. Montebon. I will post in 6 more posts when they will let me. I forgot my stupid login and had to create a new account...

If you can PM, please send this info to me.

 

[nka245]

www.ncbusinesscourt.net/TCDDotNetPublic/default.aspx?CID=3&caseNumber=08CVS003764

there is the link for everyone... public info. Please share it with whomever you think will be interested.
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here is your new marketing director for Equita... look familiar? Have fun!

 

[retread]

there is the link for everyone... public info. Please share it with whomever you think will be interested.
- - - - - - - - - - - - - - - - - -
here is your new marketing director for Equita... look familiar? Have fun!

The legal hassle appears to be NAA fighting EMG over recruiting NAA agents. I am not sure many of us would care about this.

What is the point you are trying to make about the lady in the You Tube pitch? Was she formerly with NAA or something? Don't assume all of us in the forum are intimately familiar with NAA figureheads.

 

[360]

The legal hassle appears to be NAA fighting EMG over recruiting NAA agents. I am not sure many of us would care about this.

What is the point you are trying to make about the lady in the You Tube pitch? Was she formerly with NAA or something? Don't assume all of us in the forum are intimately familiar with NAA figureheads.

I think nka245's post was spot on.

The title of the post is "It looks like Equita is in the Mortgage Protection Business". The lady in the video is Christine Butcher, Field Marketing Director or Equita Mortgage Group.

 

[nka245]

The legal hassle appears to be NAA fighting EMG over recruiting NAA agents. I am not sure many of us would care about this.

What is the point you are trying to make about the lady in the You Tube pitch? Was she formerly with NAA or something? Don't assume all of us in the forum are intimately familiar with NAA figureheads.

My point was, because this was a post about Equita,
that I think Equita has a lot in common with NAA. From the post at the top of this forum about the NAA convention I would have to argue with you the importance of what I posted but thank you for your opinion.