Need to Be More Smarter, Calling Bu&);#it

[Damnaged]

So my former employer, American Income Life, has sent out letters to a few of us who recently left saying if we didn't pay them back the chargebacks they would revoke our insurance licenses.

Now, from what I recall in licensing, that isn't ground for revocation. But just I case, I figured I'd ask. Is there any precedent for that happening? I can I just draw of a bunch of dicks on the letter and send it back to them?

 

[sman]

So my former employer, American Income Life, has sent out letters to a few of us who recently left saying if we didn't pay them back the chargebacks they would revoke our insurance licenses. Now, from what I recall in licensing, that isn't ground for revocation. But just I case, I figured I'd ask. Is there any precedent for that happening? I can I just draw of a bunch of dicks on the letter and send it back to them?

I don't believe they have the power to revoke your license. However, they can report you to Vector One and make it hard to get appointed with other carriers. You can also forget about advances on commissions.

If you owe them money then pay it back and move on.

 

[goillini52]

So my former employer, American Income Life, has sent out letters to a few of us who recently left saying if we didn't pay them back the chargebacks they would revoke our insurance licenses.

Now, from what I recall in licensing, that isn't ground for revocation. But just I case, I figured I'd ask. Is there any precedent for that happening? I can I just draw of a bunch of dicks on the letter and send it back to them?

What sman said. Wanting you to pay back charge backs is to be expected, unlike LH wanting you to pay back advances. You need to be more smarter than that.

 

[WMG]

So my former employer, American Income Life, has sent out letters to a few of us who recently left saying if we didn't pay them back the chargebacks they would revoke our insurance licenses.

Now, from what I recall in licensing, that isn't ground for revocation. But just I case, I figured I'd ask. Is there any precedent for that happening? I can I just draw of a bunch of dicks on the letter and send it back to them?

I don't know what agreement you had with them -- contract, contracting agreements, etc. Regardless, a carrier does not have the right to "revoke" your license (which has been issued by the Insurance Dept. of your respective state). However, I am sure they can "report" you, file a complaint, report incidents, status, and so forth. This can be a hurdle and/or make it difficult to get appointed with other carriers. It may also be an issue with a B-D.

 

[Josh]

Just to underscore what sman said, if you get Vector hits (which they can definitely do), it almost won't matter that you're licensed because getting an appointment with a carrier won't just be difficult, it will be nearly impossible.

 

[AllenChicago]

Just to underscore what sman said, if you get Vector hits (which they can definitely do), it almost won't matter that you're licensed because getting an appointment with a carrier won't just be difficult, it will be nearly impossible.

Also, I think E&O applications ask if you have ongoing debt collections with an insurer, or anything else.

Pay the debt, or work out an arrangement if it's too much for a lump sum. Keep your nose clean.