Monumental Life

[JBusch]

Not to mention Larry Dickstein of Securus doesn't even return your calls..How about that??

I checked out Securus once about doing final expenxe with them. The guy I spoke with spent 30 minutes talking about himself and his own production, answered none of my questions, and kept trying to push me into moving contracts for other lines I didn't call about. Securus....no thanks!

 

[jacobtn]

Not to mention Larry Dickstein of Securus doesn't even return your calls..How about that??

and you don't even what to know what goes on in the "executive boardroom" when ol' mr dickstein's in town...

 

[Sandra Sells Ins]

I'm pretty new to selling FE after being a captive life agent for several years here in Orlando FL.

Does anyone know for a fact, if you can have 2 writing numbers with Monumental?

If what I'm told is true, let's assume that your first contract pay 100% and your 2nd number pays 115%.

I've heard that the 2nd number would only pay out at the comm rate of your 1st writing number, for 6 mos.

I sent in contracting paperwork almost a month ago thru a FMO and they dropped the ball on my contracting. They take 3 biz days to return a call and I don't want to work with them now.

I've got a better offer of 115% (and they actually pick up their phones, wow) but I'm sure what to do now.

Any experience, or comments to share ??
Thanks!

 

[jdeasy]

I'm pretty new to selling FE after being a captive life agent for several years here in Orlando FL.

Does anyone know for a fact, if you can have 2 writing numbers with Monumental?

If what I'm told is true, let's assume that your first contract pay 100% and your 2nd number pays 115%.

I've heard that the 2nd number would only pay out at the comm rate of your 1st writing number, for 6 mos.

I sent in contracting paperwork almost a month ago thru a FMO and they dropped the ball on my contracting. They take 3 biz days to return a call and I don't want to work with them now.

I've got a better offer of 115% (and they actually pick up their phones, wow) but I'm sure what to do now.

Any experience, or comments to share ??
Thanks!

You can have two different writing numbers thru the same FMO/IMO and they will pay different commissions on each number. For example with EFES you would have a retail number and a wholeale number. The wholesale number is a higher commission.

You cannot have two separate writing numbers with separate IMO's. If they won't release you then you just can't write Monumental for six months while waiting out the release.

I'm sure you never signed a contract that said you needed a release, but it's an unholy alliance between the companies and the IMO/FMO's.

 

[Rearden]

I wonder what's the legal basis for such a thing, especially without explicit agreements in writing.

You can have two different writing numbers thru the same FMO/IMO and they will pay different commissions on each number. For example with EFES you would have a retail number and a wholeale number. The wholesale number is a higher commission.

You cannot have two separate writing numbers with separate IMO's. If they won't release you then you just can't write Monumental for six months while waiting out the release.

I'm sure you never signed a contract that said you needed a release, but it's an unholy alliance between the companies and the IMO/FMO's.

 

[jdeasy]

I wonder what's the legal basis for such a thing, especially without explicit agreements in writing.

It's not legal. I'm sure it could be beaten in court. The problem is that no one has been willing to take it to court. First there is the expense of doing so and then there is the time thing. By the time it got through the courts 6 months would have passed and it's a non issue.

The companies and the FMO's know this. It would take a class action to stop it and there just has never been enough agents that were willing to take it up.

I asked an executive at a very large FMO why they wouldn't just grant releases and his answer was "because we don't have to".

 

[rousemark]

It's not legal. I'm sure it could be beaten in court. The problem is that no one has been willing to take it to court. First there is the expense of doing so and then there is the time thing. By the time it got through the courts 6 months would have passed and it's a non issue.

The companies and the FMO's know this. It would take a class action to stop it and there just has never been enough agents that were willing to take it up.

I asked an executive at a very large FMO why they wouldn't just grant releases and his answer was "because we don't have to".

Actually, I don't think it could be beaten court. Companies have the right to accept or reject a person for contracting

 

[xrac]

I think who you would have to beat in court is the FMO. It is probably all eooted in the contract language.

 

[rousemark]

I think who you would have to beat in court is the FMO. It is probably all eooted in the contract language.

I have never seen the issue of release addressed in a contract. termination of contract, yes, but not release. Once the contract is terminated, the FMO has no obligation to do anything for you expect honor your vesting.

Besides, it is not the FMO that is preventing you from getting a contract.. It is the company...

if they were preventing you from making a living there might be a legal case(this is the issue on which many non compete have been overturned) but they aren't doing that. They are not preventing you from selling business with another company.

 

[GreenSky]

Of course it could be beaten in court. Here are the problems:

1) Will take YEARS
2) Will cost a Fortune
3) Company won't re-appoint

The best we can do is point out those FMOs who won't release, like RBI (Bob Bever), AGA (Patrick Rodriguez), Aspect Management (Graham Miller), and others.

Rick