Liberty National

[floridaagent]

I would caution anyone thinking of working with Liberty National...

I understand experiences differ and all that, but in this economy, when your clients decide to eventually cancel their policies because they need to save money or business slows down...

...guess what? You are on the hook for it...

...meaning, when you quit or are terminated, you will owe Liberty National all of the money from the cancellations...

I worked my a$$ off and traveled all over the country selling Liberty National for 1 year, because of my extensive contacts and my office had big accounts...

Trust me, DON'T WORK FOR LN!

p.s. I stopped working there at the beginning of 2010. This week I receive "the letter" stating that I owe $4,700...

If they think they are going to see a penny of that, they are nuts.
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...one more thing, if anyone can lend me advice on how to proceed with these asshats, please do so...

thx in advance.

 

[Norwayguy]

I would caution anyone thinking of working with Liberty National...

I understand experiences differ and all that, but in this economy, when your clients decide to eventually cancel their policies because they need to save money or business slows down...

...guess what? You are on the hook for it...

...meaning, when you quit or are terminated, you will owe Liberty National all of the money from the cancellations...

I worked my a$$ off and traveled all over the country selling Liberty National for 1 year, because of my extensive contacts and my office had big accounts...

Trust me, DON'T WORK FOR LN!

p.s. I stopped working there at the beginning of 2010. This week I receive "the letter" stating that I owe $4,700...

If they think they are going to see a penny of that, they are nuts.
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...one more thing, if anyone can lend me advice on how to proceed with these asshats, please do so...

thx in advance.

Does your contract give up renewals? If so it sounds like your stuck...If you don't pay them back they will put a vector on you which will make it more difficult to become contracted with some companies and also more difficult to get advances in the future....I would ask for some sort of documentation and not just a letter that saws you owe x...and say you pay it all off now...if you just recently quit it means they could come back later so you want to make sure there is no additional amount down the road.

 

[floridaagent]

Does your contract give up renewals?

I am sure that is the case yes.

If so it sounds like your stuck...If you don't pay them back they will put a vector on you which will make it more difficult to become contracted with some companies and also more difficult to get advances in the future....

I don't think I'll be returning to life insurance, ever.

I would ask for some sort of documentation and not just a letter that saws you owe x...

Good suggestion, Thank you.

and say you pay it all off now...

$4,700? I just got married last Nov, not happening.

if you just recently quit it means they could come back later so you want to make sure there is no additional amount down the road.

I quit in January, is that "recent" in your opinion?

I have an uncle that also works for the company. He and I both brought in several big companies that did business with Liberty National. If I have any leverage with this, I am thinking it would be that they don't want to damage their business relationships here.

 

[HomeService]

Yes, January is recent. I quit UA in like 2005 and I still hear that I owe some money. But I only hear that if I talk to LibNat about working there.

 

[Norwayguy]

I am sure that is the case yes.


I don't think I'll be returning to life insurance, ever.



Good suggestion, Thank you.

$4,700? I just got married last Nov, not happening.


I quit in January, is that "recent" in your opinion?

I have an uncle that also works for the company. He and I both brought in several big companies that did business with Liberty National. If I have any leverage with this, I am thinking it would be that they don't want to damage their business relationships here.

Definatly get out the contract and reread it. I would not be too hasty about never coming back to the Life Insurance business, why burn a bridge if you don't have to...ie in my state the only requirement to keep my Life & Health License is 24 continuing credit hours every other year which costs me about $40 every 2 years. I can imagine that you are not in a position to stroke a check but do realize this is in your contract about repayment of money and some carriers do more than vector you some do collections it might be in your interest to discuss a payment plan for repaying...The thing I wanted you to be aware of is if you where advanced 9 months or a year of commission and just left in January of this year you are only 3-4 months into the advance cycle and it is possible that the debt could actaully grow....that being said what where your commission statements like before you quit....where you showing no lapsed policies etc


I'll tell you I loath companies that come after you for commission advances when they keep any renewal commissions that are not applied in most cases they do not support the orphaned policyholder and are a big part of the reason for the lapsed policy and most contracts restrict you from even contacting these people for a period of time after you leave...Also sometimes they reassign orphans to a new servicing agent whos job is to possibly sell the client something in addition to your business but sometimes they rewrite your business....(hey mr policy holder you have our older policy without these provisions the new policy would only cost x more per month) they rewrite the policy and now you have a lapsed case commission chargeback to deal with.

I'm not sure how much leverage you would have in these large cases..you mentioned your uncle brought them in with you and is still with the company...might make it uncomfortable for him...Plus I bet if you read your contract you might not even legally have the right to contact these people. Before you do anything read and reread your contract you might even want to discuss it with an attorney...tip in my state the bar association has a referral line, you call the line discuss what you need to speak to an attorney for and they refer you to an attorney for $25 that money covers the first 30 minutes of a meeting with him...I did that on one of my last contracts and new everything I needed to know about the ambiguity in my contract so I knew where I stood (by the way my mistake is not knowing where I stood before signing the contract) but like most people I wasn't worried about 8 years down the road back then.

 

[floridaagent]

It's absurd that I get penalized because I've left a company and clients have canceled their policies. I paid $500 - $1,000 in many cases just to travel to various States to write many of these policies. That was all out of pocket for me...

Evidently my uncle was put in a similar situation and asked the manager to take care of it, and he did...I'm hoping I get the same treatment on Monday.

At the end of the day, I gave life insurance an honest whack, and I am of the opinion that during a lagging economic period, life insurance is too much brain damage.
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The other ridiculous side to the story is that I'm talking about a company that had quiet literally no clue how to organize a team of agents to travel to another state to write business for a very sizable "business."

All the way down to delivering the policy, nobody knew what they were doing..

It's laughable how the corporate side acted like they always had all the answers, when we agents aren't even aloud to contact them... The managers on the other hand didn't know anything...and how could they? They weren't legitimate white-collar professionals most of them, and were too new to know what they were doing in the first place..

But here's the kicker Norway. Ready for this? The manager that hired me and the rest of the guys I worked with, who did know what was going on and did have some real business acumen to speak of, he left our office 3 months after I was hired and the agents I had worked with all became managers.

When that transition happened, everything went to sh*t. I should have walked away then.

I was also told that many of his dealings were unethical (the manager that knew what he was doing) and that he quiet literally managed to steal money somehow by putting business under him that wasn't his. This is coming from a managers mouth.

 

[HomeService]

LibNat has a habit of managers leaving after a few months. We have had tons of those managers come here to TX from like FLa. and Alabama- and they last maybe a year or less, maybe a few months-and they are gone. If no agents are left over or if they are not ready to manage- the office just closes. That's how it has been in TX.

 

[HomeService]

So, here it is two years later. I noticed our friends at LNL are now making some nice videos on youtube. I do not recall running into thiese agents running around Texas , flew in from Gainesville, but , maybe they are and I just did not run into them!! Well, anyway, go to youtube and serach liberty national. The manager guy in the vid is named something like Tim Aderholt or something. The vid is nicely done. Their have always been certain areas of the country where Libnat is better, seems like the southeast is better. Seems like they have trouble getting TX off the ground.

 

[magagent]

Yes, Tim Aderholdt out of Gainesville, GA. Nice guy I had a chance to meet him once at an insurance convention. LNL only does payroll deduction now, they are still huge in MS,LA,Bama, GA,FL.. Some offices in ARK, very few in Texas.

So, here it is two years later. I noticed our friends at LNL are now making some nice videos on youtube. I do not recall running into thiese agents running around Texas , flew in from Gainesville, but , maybe they are and I just did not run into them!! Well, anyway, go to youtube and serach liberty national. The manager guy in the vid is named something like Tim Aderholt or something. The vid is nicely done. Their have always been certain areas of the country where Libnat is better, seems like the southeast is better. Seems like they have trouble getting TX off the ground.

 

[HomeService]

Yes, Tim Aderholdt out of Gainesville, GA. Nice guy I had a chance to meet him once at an insurance convention. LNL only does payroll deduction now, they are still huge in MS,LA,Bama, GA,FL.. Some offices in ARK, very few in Texas.

That vid makes it look like they only concentrate on payroll deduction. I guess they think they are all of a sudden Colonial or Aflac?