New Agent Traps- Howe/NAAish

[indiana260]

I have recently been contacted by a few agents asking advice about their current situation. In all cases these agents have been totally screwed so I wanted to put out a warning. I will say that I very seldom would consider adding agents to my down line so this is not an attempt to recruit. With that said here is my advice to avoid traps...

One of these cases the lady was recruited by a guy she recently met. He helped her get licensed then contracted her with 10 or more companies. She backed out of several after talking with me. Another case the guy contracted and is captive for at least 12 months with 70 and 80% contracts.

I have been offered 80 % with 5 Star fromHowe. That's cause I play along when I get recruited. That's crazy. I made 5Star convention and then get contacted by some Howe freak thinking I am some new agent and will bite. News for him I make more than he does.

Never sign an agreement with an IMO without reading it and asking exactly what each line means. Ex: An agent signed up with an IMO that required than to terminate all contracts and refrain from contracting with any other companies.

I have 4 IMO/FMO that I go through. I have never signed ANY agreement with any of them. They tell me what they will offer in comp (Usually 100-125%) and I agree or I don't. I have free release from any company except Trans and that was a fluke deal.

So why would anyone sign an IMO agreement? 2 possibilities. #1 agent training and #2 they buy your leads. These are the only 2 reasons and agent if it's agent training you should still start at 90-100%.

 

[bboman23]

I have recently been contacted by a few agents asking advice about their current situation. In all cases these agents have been totally screwed so I wanted to put out a warning. I will say that I very seldom would consider adding agents to my down line so this is not an attempt to recruit. With that said here is my advice to avoid traps...

One of these cases the lady was recruited by a guy she recently met. He helped her get licensed then contracted her with 10 or more companies. She backed out of several after talking with me. Another case the guy contracted and is captive for at least 12 months with 70 and 80% contracts.

I have been offered 80 % with 5 Star fromHowe. That's cause I play along when I get recruited. That's crazy. I made 5Star convention and then get contacted by some Howe freak thinking I am some new agent and will bite. News for him I make more than he does.

Never sign an agreement with an IMO without reading it and asking exactly what each line means. Ex: An agent signed up with an IMO that required than to terminate all contracts and refrain from contracting with any other companies.

I have 4 IMO/FMO that I go through. I have never signed ANY agreement with any of them. They tell me what they will offer in comp (Usually 100-125%) and I agree or I don't. I have free release from any company except Trans and that was a fluke deal.

So why would anyone sign an IMO agreement? 2 possibilities. #1 agent training and #2 they buy your leads. These are the only 2 reasons and agent if it's agent training you should still start at 90-100%.

Got to watch howe. You can't write any carrier you had with them for 1 year. And they will pursue it. Very shady people.

 

[indiana260]

Got to watch howe. You can't write any carrier you had with them for 1 year. And they will pursue it. Very shady people.

Do you are experienced with the Howe group. Let me ask, if an c agent had a couple contracts and chooses to leave, are they free to contractwith other companies. The way it sounded to me was they wouldn't allow you to contract with anyone or they could add sue you.

 

[bboman23]

Do you are experienced with the Howe group. Let me ask, if an c agent had a couple contracts and chooses to leave, are they free to contractwith other companies. The way it sounded to me was they wouldn't allow you to contract with anyone or they could add sue you.

Contract states you can't contract with any company they offer. Even if you didn't have that company with them. And they will sue. Scam artist if you ask me.

 

[Gooner]

Do you are experienced with the Howe group. Let me ask, if an c agent had a couple contracts and chooses to leave, are they free to contractwith other companies. The way it sounded to me was they wouldn't allow you to contract with anyone or they could add sue you.

Without looking at the contract and of course not being a lawyer...those types of contracts don't hold any water. They could hold up the contracts that they have with them, but not any others. They could also threaten litigation, but in any sane state it doesn't hold water...what Iran to say is that I'd really only be worried about it if I were in Commifornia.

----------

Contract states you can't contract with any company they offer. Even if you didn't have that company with them. And they will sue. Scam artist if you ask me.

Crossed paths in typing.

That contract would/should not hold up in any court.

----------

Regardless...there are plenty of carriers in the FE sea...shouldn't hurt someone to jump ship

 

[indiana260]

Contract states you can't contract with any company they offer. Even if you didn't have that company with them. And they will sue. Scam artist if you ask me.

Do if they don't offer, Gerber let's say, they are free to get contracted with Gerber?
Have you tested this?

Here is the agreement I received

Unaffiliated Insurance Companies. During the term of this Agreement, Agent shall not, either
directly or indirectly, maintain or secure an appointment, or otherwise be affiliated with any insurance company
or annuity company which sells, markets or underwrites Life Insurance Products that is not a HIS Carrier, without
HIS' prior written consent. Agent also agrees that if he/she/it is already contracted/appointed with a HIS Carrier
either directly or through an entity other than HIS, then Agent hereby requests and authorizes all HIS Carriers to
terminate Agent's direct contract/appointment or contract/appointment with such other entity and to
contract/appoint Agent only through HIS. The term "Life Insurance Products" is defined to include all insurance

 

[Jbelfort]

In most states, and I speak from experience, if they try to sue you, counter-sue them, but through your state's labor department. No entity can prevent you from earning a living, regardless of who they do business with. No superior court judge will override their states labor laws, as long as your contract is in your personal name, not a business name.

 

[eddie]

H.I.S. is just another one of those IMO's that make you pay full boat for the lead mail drop and cut your commission. They say the training is worth it. Ha! you can call the carriers up and get product training. If you need some beyond that then you come here and contract with the others on the forum that offer the real deal and no commission cuts.

 

[YouCanCallMeAl]

There are so many shady/crooked outfits like them. Since bad news travels fast, I'm surprised they can stay in business.

 

[HoosierDaddy]

There are so many shady/crooked outfits like them. Since bad news travels fast, I'm surprised they can stay in business.

They pray on people who are not in the business. They look for unsuspecting prospects and hold their hand through the licensing process. All while whispering in their ear how they are faith based organization.

I was recently at a convention and heard one of their agents explain that the selling strategy she was taught by this organization was based on the theory of reciprocity.

Essentially meaning you guilt someone into buying from you or even listening to you. You give them a meaningless unwanted gift (wheat penny) when you meet them and in return return you expect them to buy. This is the same way they recruit.

In my opinion it is weak and manipulative at the very least.