Need Transfer Release. Waited 6 Moths

[livesales]

I have waited my 6 months of no business with carrier LSW(National Life Group) with Broker .
Now they will not release me even with it being 6 months of no business. I thought they had no power over me after 6 months.
The MGA or IMO ) whichever it is... is telling me "We don't have to sign anything"

Their excuse is training for the teacher market and I have already informed them I am using new training for a different market. I am not with a competitor for that market.

I'm annoyed that I am OWNED for life to these people when my new IMO/GMA is atleast giving me way better tools and a MUCH better staff for free. And not to mention when contractually able to they will give me street level eventually which i deserve right now. I have made 90k some years and I'm completely taken back and annoyed that I'm still under the old IMO/GMA's control with carrier LSW(National Life Group)

Keep in mind when going with as you will be associated apparently till the day you die if you value your LSW(National Life Goup) contract.

Help Ideas?????

 

[pcbinsurance]

I know it's the principle but why do you have to sell LSW when there are so many other great carriers out there?

 

[Newby]

I have waited my 6 months of no business with carrier LSW(National Life Group) with Broker Teachers Pensions. Now they will not release me even with it being 6 months of no business. I thought they had no power over me after 6 months. The MGA or IMO (Teachers Pensions) whichever it is... is telling me "We don't have to sign anything" Their excuse is training for the teacher market and I have already informed them I am using new training for a different market. I am not with a competitor for that market. I'm annoyed that I am OWNED for life to these people when my new IMO/GMA is atleast giving me way better tools and a MUCH better staff for free. And not to mention when contractually able to they will give me street level eventually which i deserve right now. I have made 90k some years and I'm completely taken back and annoyed that I'm still under the old IMO/GMA's control with carrier LSW(National Life Group) Keep in mind when going with Teachers Pensions as you will be associated apparently till the day you die if you value your LSW(National Life Goup) contract. Help Ideas?????

With many companies it's a six month wait after you have canceled your contract in writing. Some use the six month from last application rule. But others require the cancelation to start the clock.

 

[Tahoe Ray]

I know it's the principle but why do you have to sell LSW when there are so many other great carriers out there?

This was going to be my question as well.

 

[CALTCAgent]

The MGA or IMO (Teachers Pensions) whichever it is... is telling me "We don't have to sign anything"

I would suggest getting an up front release signed in the future so you never have to deal with this again.

Don't take their word that they will release you EVER. FMO's can lie to agents without any repercussion.

 

[Tahoe Ray]

I would suggest getting an up front release signed in the future so you never have to deal with this again.

Don't take their word that they will release you EVER. FMO's can lie to agents without any reprecussion.

With many of the major life carriers, one can dual-appoint so this isn't normally an issue.

 

[CALTCAgent]

With many of the major life carriers, one can dual-appoint so this isn't normally an issue.

That is a good thing.

 

[Glen Shelton]

I know it's the principle but why do you have to sell LSW when there are so many other great carriers out there?

There is a widely held belief that LSW is the "ONLY" company worth offering to the teacher market.

I looked into working with an IMO/FMO who used it as their only carrier. They focused on 403B roll overs, 403B flow deals, and IULs...

I am NOT a product expert, but I have found Allianz or ANICO to have similar products ...

I would recommend looking for another company to write and abandoning LSW.

That's my $0.02

 

[aclaro]

Just to echo...I run LSW in various scenarios and never end up going with them. I can't think of any situation when they've been a top carrier. Other company's policies are just better and more competitive. Why do you need to use LSW?

 

[livesales]

I use there annuities they have good bonus features that beat a lot of what they have already.
Most importantly commission is pretty ok compared to my shopping around. Though I need my release to get there. I did get my street com on other carriers that are harder to deal with though.

Also their IUL policies under 250k means simplified issue. (though of course higher than average cost for extra benefits) value is subjective if the client needs extras or not.

Oh Jesus I wish I knew about the official canceling of the contract.

If I do that I assume I don't receive the last 25% of my Life insurance commission as im on a 75% upfront schedule?

I'll look into Allianz though i know I've rolled a lot of them as they weren't as good for the most part.