New Agent Confused about the “chain of command”

[Leslie Carter]

I am a new agent, got my license at the start of the year, did my AHIP ...lots of other certifications and training events...working towards the end goal of assisting with Medicare options. I am also interested in helping my community with their health insurance needs. So I finally started researching as I am reading the language on carrier contracts. It turns out I am an LOA which means my FSP will own my book of business unless we have a formal contract written up. We have an IMO that the FMO is attached too which means unless I become an FSP with the IMO I have no ties with the FMO if I was to ever part ways from my current company. This all seems very confusing and it seems like I might be ending up on the short end of the stick. Any opinions or advice? I am an educated, motivated, extroverted young woman who is really looking to build a solid career for herself.

 

[Todd King]

You should look at moving the contract to an FMO that does not ask you to assign commissions.

 

[Chazm]

I’m assuming you haven’t written anything yet so it’s easy. Move your contracts

 

[Leslie Carter]

Any preferred FMO’s? I’ve only found one local in the Kentucky area.

 

[goillini52]

Any preferred FMO’s? I’ve only found one local in the Kentucky area.

https://insurance-forums.com/community/members/todd-king.3501

Todd has a Kentucky accent.

 

[Todd King]

https://insurance-forums.com/community/members/todd-king.3501

Todd has a Kentucky accent.

Thanks for the shout out!

 

[bill3173]

The Chain of Command is straightforward..Todd King and then down from there. It's in his name.

 

[Drew InsURe GuRU]

The Chain of Command is straightforward..Todd King and then down from there. It's in his name.

Lmao I’m pretty sure Todd Is really is the insurd god and is on my home page zip recruiter, he everywhere

 

[InsuranceGuy29]

Any opinions or advice?

Booze....lots of booze. Trust me on this one. You'll see why, soon. Welcome to the insurance field!

 

[Newby]

I am a new agent, got my license at the start of the year, did my AHIP ...lots of other certifications and training events...working towards the end goal of assisting with Medicare options. I am also interested in helping my community with their health insurance needs. So I finally started researching as I am reading the language on carrier contracts. It turns out I am an LOA which means my FSP will own my book of business unless we have a formal contract written up. We have an IMO that the FMO is attached too which means unless I become an FSP with the IMO I have no ties with the FMO if I was to ever part ways from my current company. This all seems very confusing and it seems like I might be ending up on the short end of the stick. Any opinions or advice? I am an educated, motivated, extroverted young woman who is really looking to build a solid career for herself.

Your instincts are correct. You definitely do NOT want to build your Medicare book under an agency that has you working as a LOA (License Only Agent). That would be the #1 best way to get screwed.

There are too many good agencies that won’t do that too you. Todd King that posted in this thread is a good one. You don’t need one in KY. You just need an honest one.