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There are many FE companies that approve applications quickly and pay quickly. You should talk with Scott at fexcontracting.com.
Lincoln Heritage 100% Contracts
- Thread starter Teej
- Start date
There are many FE companies that approve applications quickly and pay quickly. You should talk with Scott at fexcontracting.com.
- 19,666
That is definitely true. LH does pay fast, but with reduced lead costs will come with lower commissions, potential chargebacks, as well as a 2 year vesting in most cases.
But, remember that every agency, agent, upline and downline are all dropping mail to these people in the FE market, unlike your overpriced Primerica clients who usually purchase via warm market intros. These seniors are looking for better deals and with them receiving at least 2-3 cards per month (at least my 76 year old mother does) they are bound to check on the lower rates and wham you will be replaced.
I say all this because on one hand I believe that LH has the best agent support service at the home office compared to other companies (except GPM Life, and Settlers they are equals) but when the smoke clears the room you may not receive the reward you are looking for by going doing it as a captive agent in the FE market.
I would at least call EFES and check on their retail programs, along with Securus. At least you would have enough info to make an informed decision.[/quote]
There no problem being released from EFES. You will have to wait out 6 months to be released from any companies you contract with under thru EFES. But if you think you can be released from LH then you better think again.
I disagree with EFES's release policy from companies but it's not an issue. There are too many fE companies out there to write to be concerned with releases.
- 15,319
Isn't the inability to be released without waiting the 6 months the definition of NO RELEASE?
Is this clause in the contract that an agent signs?
Rick
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You know it's not in the contract. I was responding to his statement about being released from EFES. There is nothing to be released from at EFES. The release is needed from the company. He was referring to EFES as an insurance company like LH instead of an IMO.
I think EFES's release policy, or non release policy, is wrong. As it is with every company that won't grant releases.
My point is that it's non issue really with FE. There are too many companies to write while waiting out a 6 month release.
It's a huge issue in the MA and med sup market. There may be less than a handful of competitive companies and being tied to an unscrupulous IMO or waiting out a release can be devastating to your business.
- 15,319
I was commenting on you saying that there is no problem being released. There absolutely is a problem in that they won't release.
Since it's not in the contract, they're clearly not an honest marketer.
I understand if you are getting leads and training (although it still should be in writing) but for an agent simply getting contracts I would stay away.
Get contracts through Todd King instead. Probably will be a higher commission level and he is honest enough to release.
Rick
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Again, I was saying there is no problem being released from EFES because there is not. The problem is being released from companies under EFES not from EFES. You don't even need a release from EFES, you could just walk away and go to any other IMO.
- 15,319
Of course. And this is true of all non-captive situations. But you can't write the carriers you contracted using EFES without waiting 6 months.
So the release is a non-issue because EFES does not release and does not inform the agent of this up front.
So they're as dishonest about it as Parker, Bob Bever, and all the other FMOs we should stay away from.
I'm surprised you are discounting this issue. Because of this non-release, clearly EFES should be avoided. Why would an agent want to work with a dishonest marketer?
Rick
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No dog in this, However, If I was with XYZ agency and had been selling RNA because I believed they were the best value for my clients and XYZ prevented me from doing that I would be pissed. I would also be forced to sell new clients second or third tier products. Another reason I am independent and do not have the majority of my contracts with any one upline.
Also I as far as life products go releases are very important with "FE" type products. Not so much with traditional products because we can duel contract. Example is I have four AIG contracts. As many Genworth.
Just my two cent
Also I as far as life products go releases are very important with "FE" type products. Not so much with traditional products because we can duel contract. Example is I have four AIG contracts. As many Genworth.
Just my two cent
- 687
This is the response I got from my manager when I requested a release: "You can call the carriers and try and work something out, but I do not release people who I have trained." EFES may say they will give a release, but...
- 15,041
Cut him a check for the training then. Training isn't "free". Pay with money or pay with production.
