Leaving Company

digfesales105 said:
That's if you leave after 2 years. Under 2 years you're not fully vested.

Good to know. I only briefly glanced over a Lincoln heritage contract once and the $250 per month thing put them significantly higher when compared to most carriers only requiring 300-400 per year.
 
Good to know. I only briefly glanced over a Lincoln heritage contract once and the $250 per month thing put them significantly higher when compared to most carriers only requiring 300-400 per year.


When I left them I had more than 2 years with them. They did not ask for any money back but they stopped paying me even on new business. They didn't pay me anything for about 6 months. I suppose that's how long it took for my pay through to settle out? I hadn't gotten leads from them in over 6 months when I left so there was no lead bill nor did I have a charback balance.

After about 6 months they started paying me my renewals and did so for about a year and a half. Once it fell below $250/mo they started keeping my renewals. That was 2 years ago. The lady at LH told me that they company keeps them. Greg says that they go to my upline manager. I don't know who gets them. I only know who doesn't.
 
It is a loose loose for the agent if you work for LH..

My advice is simple, (since I worked for them briefly), get the training and know how that you need from your manager and leave ASAP. That's if you have the right manager. I had a pot head manager, but he knew how to sell.

Once you know what it takes to be successful in FE, run away, don't bother with walking and wondering about renewals.:nah:
 
Feel free to call me. I was a top manager and can break it all down for you and what to expect. It would be way to long of a post to put it all on here. But, in a nutshell:

You will get a letter with a 30 day term and requesting all money's back. Lead charges, chargebacks and advances assuming you are leaving under 2 years? The letter will threaten you with Vector.

Next letter will come after 30 days. It will give you another 30 days and ask you set up a payment plan and the balance will now be a bit different. Higher or lower.

Next, they roll all you debt to your upline. Their biz model is set up expecting YOU won't pay it off. So the manager's paythru will and then will keep your earnings. THAT is how some veteran managers look like they're sooooo successful there. Then it will be up to the manager to come after you for the money which 99% of them don't.

As far as getting paid on biz...it just depends. If they know you're leaving(which you did post this in the open public????), then they will NOT pay you another dime. It's a simple phone call to the home office.

Feel free to contact me if you have any other questions.


Do you know what standard operating procedure is for a company on debt that rolls up to your upline as far as vector goes?

For example. If an agent has a $1000 charge back debt with an ins company, never pays it and it goes on vector, when that debt rolls up to the upline, does it still stay on vector for the original agent?
 
When I left them I had more than 2 years with them. They did not ask for any money back but they stopped paying me even on new business. They didn't pay me anything for about 6 months. I suppose that's how long it took for my pay through to settle out? I hadn't gotten leads from them in over 6 months when I left so there was no lead bill nor did I have a charback balance.

After about 6 months they started paying me my renewals and did so for about a year and a half. Once it fell below $250/mo they started keeping my renewals. That was 2 years ago. The lady at LH told me that they company keeps them. Greg says that they go to my upline manager. I don't know who gets them. I only know who doesn't.

Under 2 years not being vested, they ask for all money back. Over 2 years being vested, they will only ask for leads, chargebacks and negative debit balance back. "Most" agents over 2 years with them don't leave for the simple fact they can't afford two. But some do.
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Do you know what standard operating procedure is for a company on debt that rolls up to your upline as far as vector goes?

For example. If an agent has a $1000 charge back debt with an ins company, never pays it and it goes on vector, when that debt rolls up to the upline, does it still stay on vector for the original agent?
That's what stinks. They don't always put every agent in Vector. I still haven't figured out what propels them to do that. But, even if your debt rolls up and the manager pays it off, they can still charge you or put you into Vector. It's technically your debt even though the upline paid it off. As you pay it off in Vector, they will credit your upline. It's a lose, lose for you.
 
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