Newish Top Captive Agent / Wrong Setup?

[erict58]

I am a top producer in my "agency". I am in a captive environment where I am licensed through my company with several key carriers. I have been in this business now for one year now and I have always been near the top of the production charts. We were trained to sell Medicare Supplements, Medicare Advantage, Life, Health and Supplemental benefits. My biggest concern is that my company maintains an escrow account which gets more and more negative because of lead costs and apparent non payment from the carriers to my company. I get a small advance on each application that I write and that also contributes to my negative balance. It is an awful situation. I have received awards from certain carriers yet I have a negative balance that is being hung over my head. It feels like they are telling me that they have not been paid so that my balance stays negative. I found out that they have been paid by one of the companies I received the award from. I want to get away from these people so I tried to resign so that I can get paid directly from the carrier. I was informed that I owe the company money so they will not release me and they will make my career advacement difficult to say the least. What a nightmare! I am a top producer that is stuck. I got into this expecting something much different. I know that I should be paid very handsomely for my production. What can I do? I want to go somewhere I will be paid more than the captive advance situation where I have no idea when and how much I will be paid. Can this company stop me from working somewhere else and what is to come of this "negative balance" which should actually be even or positive? The word CAPTIVE sure seems to describe my situation. Any advice is greatly appreciated.

 

[Todd King]

Unfortunately I hear this same story almost everyday. There is a much better solution for you and that is to go independent and either generate or buy your own leads. You'll come out better. I would imagine they have you on what I would consider low contracts.
You can give me a call and we'll see what we can do to help you out. I'm sure your situation is not hopeless at all.

 

[erict58]

I just may do that. Thanks. What are low contracts? I have a feeling that it is this MAPD thing that is reaally screwing everyone up.

 

[Todd King]

By low contracts I'll give an example of life. 70-80% I would consider low. Some give you even lower than that if they think they can get away with it. You should have no contracts under 100% at the lowest.

 

[Mark]

I am a top producer in my "agency". I am in a captive environment where I am licensed through my company with several key carriers. I have been in this business now for one year now and I have always been near the top of the production charts. We were trained to sell Medicare Supplements, Medicare Advantage, Life, Health and Supplemental benefits. My biggest concern is that my company maintains an escrow account which gets more and more negative because of lead costs and apparent non payment from the carriers to my company. I get a small advance on each application that I write and that also contributes to my negative balance. It is an awful situation. I have received awards from certain carriers yet I have a negative balance that is being hung over my head. It feels like they are telling me that they have not been paid so that my balance stays negative. I found out that they have been paid by one of the companies I received the award from. I want to get away from these people so I tried to resign so that I can get paid directly from the carrier. I was informed that I owe the company money so they will not release me and they will make my career advacement difficult to say the least. What a nightmare! I am a top producer that is stuck. I got into this expecting something much different. I know that I should be paid very handsomely for my production. What can I do? I want to go somewhere I will be paid more than the captive advance situation where I have no idea when and how much I will be paid. Can this company stop me from working somewhere else and what is to come of this "negative balance" which should actually be even or positive? The word CAPTIVE sure seems to describe my situation. Any advice is greatly appreciated.

I hear this all the time. Ask them will your earning pay off your debit. Is it a secure or unsecure debit?

I know what you mean. I was stuck in a contract with Protection One Alarms. They auto renewed my contract each year in small print and I had only 2 week to cancel it each year. I decided after 8 years to cancel it, and they did everything in their power to hassel me. They threaten to come rip it out off the walls, which I thought I owed it and even wanted to charge me an arm and leg for early termination. But I was so mad, I just said screw it, and paid the fee to just get away from them. I did a google and heard of tons of other people going through the same thing. The point of this story is that sometimes you just got to say screw it and leave. Wash your hands of them and find another answer.

 

[SKQuinn]

I am a top producer in my "agency". I am in a captive environment where I am licensed through my company with several key carriers. I have been in this business now for one year now and I have always been near the top of the production charts. We were trained to sell Medicare Supplements, Medicare Advantage, Life, Health and Supplemental benefits. My biggest concern is that my company maintains an escrow account which gets more and more negative because of lead costs and apparent non payment from the carriers to my company. I get a small advance on each application that I write and that also contributes to my negative balance. It is an awful situation. I have received awards from certain carriers yet I have a negative balance that is being hung over my head. It feels like they are telling me that they have not been paid so that my balance stays negative. I found out that they have been paid by one of the companies I received the award from. I want to get away from these people so I tried to resign so that I can get paid directly from the carrier. I was informed that I owe the company money so they will not release me and they will make my career advacement difficult to say the least. What a nightmare! I am a top producer that is stuck. I got into this expecting something much different. I know that I should be paid very handsomely for my production. What can I do? I want to go somewhere I will be paid more than the captive advance situation where I have no idea when and how much I will be paid. Can this company stop me from working somewhere else and what is to come of this "negative balance" which should actually be even or positive? The word CAPTIVE sure seems to describe my situation. Any advice is greatly appreciated.

Eric,

I need to know the company you are with. I am interviewing as a captive tomorrow, but may decide to go with their broker division, instead. If you don't want to say it here then please email me here. Thanks!

Sandi
~~~~~~~~~~~~~~~~~~~~~

Excellence is not a skill, it is an attitude!

 

[CHUMPS FROM OXFORD]

Well...it could be a case of discrimination. It's a shame that after all of these years, that some people still have a strong anti-semitic bias. The contribution of your people to society has been phenomenal, and it's a shame that more people don't appreciate it.

Oh. You said "Newish"? Never mind.

 

[annuityseller]

you won't go wrong hooking up with the Todd man!!!

 

[Cenla Agent]

Well...it could be a case of discrimination. It's a shame that after all of these years, that some people still have a strong anti-semitic bias. The contribution of your people to society has been phenomenal, and it's a shame that more people don't appreciate it.

Oh. You said "Newish"? Never mind.