"No Hassle Release Form", Bonuses,Top Commissions, Discount Leads

[Joe Moore]

Having noticed that releases are sometimes a contentious point between IMOs and Agents. We are putting in writing our policies of a release that should be fair to us and the agent. We will be glad to email a copy of this potential release to any agent. This "No Hassle Release Agreement" has been reviewed by some key people in the insurance industry from the agent side and none have found any major problems. Our release provides that an agent can continue writing with us for 90 days, and then the release will be immediate to the new IMO (unless we are blocked by the insurance company or any upline we may have).

We have developed a Life Insurance bonus program for monthly, quarterly and yearly top producers. Not being the best company to come to for "Hand-Holding" and a lot of training, we feel it is only fair that seasoned agents receive bonuses for knowing what they are doing and not requiring a lot of guidance. Potential bonuses will be escrowed for potential payout to agents.

As most of you probably know, we specialize in the Senior Market, but also have available large policies. So, this plan can also be good for large life producers.

With sufficient production, we can supply exclusive mailed Medicare and Final Expense Discounted Leads for $299/1000 (maximum 2000 initial order).

If direct company recruiters in our markets are reading this and can provide us with top truly vested (no gotchas) company direct IMO and agent contracts, and pay agents directly, we would consider adding any viable product to our portfolio.

Our goal is to make our agents the happiest and best paid group of agents in the industry. Suggestions are welcomed to try to help us achieve this goal. We are large enough to attract some of the top company contracts, but small enough to be able to immediately move on a good idea.

I am inviting you to join us to build the most fair and smooth IMO operation available. Talk to me or my son, Greg Moore. See our website to see some of our available companies.

 

[Crabcake Johnny]

Re: "No Hassle Release Form", Bonuses,Top Commissions, Discount L

On an aside and just some constructive criticism, I'd really look into paying for a professional website.

 

[Newby]

Re: "No Hassle Release Form", Bonuses,Top Commissions, Discount L

I have done business with Joe and Greg Moore and have found them to be great to work with.
That is a pretty low price for FE mailers.

 

[Joe Moore]

Re: "No Hassle Release Form", Bonuses,Top Commissions, Discount L

On an aside and just some constructive criticism, I'd really look into paying for a professional website.

You are 100% correct. That is one of the first things on our agenda.
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I have done business with Joe and Greg Moore and have found them to be great to work with.
That is a pretty low price for FE mailers.

Thanks Scott, we try our best.

 

[G.Gordon]

Re: "No Hassle Release Form", Bonuses,Top Commissions, Discount L

Punt to offers, please.

What a piece of work.

 

[Tampa Teddy]

Re: "No Hassle Release Form", Bonuses,Top Commissions, Discount L

I'm not trying to be difficult, but personally, some of the wording that you use would concern me. Maybe you can elaborate further?

For example: "Potential bonuses will be escrowed for potential payout to agents." and " release will be immediate to the new IMO (unless we are blocked by the insurance company or any upline we may have)"

I would assume that bonuses are not escrowed until earned, so why would it be a potential payout? Also, are your releases provided upfront? If so, under what circumstances would an upline or carrier be able to block it?

Your mailer pricing is very attractive, but it comes with the disclaimer of "With sufficient production." What is concidered sufficient production and what is the quality of the mailer and list?

Bonuses are always nice, but you know as well as I do that bonuses are nothing more than your own commissions, that are made more difficult to obtain. Are you paying top commisions plus bonus or a lower commission plus bonus?

 

[moonlightandmargaritas]

Re: "No Hassle Release Form", Bonuses,Top Commissions, Discount L

I have done business with Joe and Greg Moore and have found them to be great to work with.

Punt to offers, please.

Others may disagree, but Joe's info/posts have always struck me as "straight-up" - without pretense and undue noisy promotion. If I worked that market, I would consider him without question.

I also agree that it should have been posted in the offers section.

 

[Joe Moore]

Re: "No Hassle Release Form", Bonuses,Top Commissions, Discount L

"Potential bonuses will be escrowed for potential payout to agents."

All this is trying to say is that is if there is a potential liability due an agent and the agent is on track to earn the bonus, we would put the money in escrow until it was decided if the agent made the goal.
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Also, are your releases provided upfront? If so, under what circumstances would an upline or carrier be able to block it?

Conditions of Release are provided Up-Front, in a written agreement. I have put the verbiage of an upline or carrier being able to block it, because some companies have iron-clad rules, which we may not be able to over-rule.
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Your mailer pricing is very attractive, but it comes with the disclaimer of "With sufficient production." What is concidered sufficient production and what is the quality of the mailer and list?

"With sufficient production" means we are not going to supply leads at this price (yes, it is below our cost) and get little or no production. We have tried to avoid putting exact perimeters on this, due to the fact of varying circumstances for different areas, luck of the draw, etc. In my estimation, a rough approximation of "acceptable" would be (with 2000 mailed), a return of around 30-40 leads (possibly a few more with Medicare Leads). Selling 1 of 5 should give approximately 6 sales, at a minimum.

The quality of the leads of course varies, but is the window envelope with a return card, mailed to normally ages 55-80. Only the ordering agent receives the leads. They are exclusive to only the ordering agent.
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Bonuses are always nice, but you know as well as I do that bonuses are nothing more than your own commissions, that are made more difficult to obtain. Are you paying top commisions plus bonus or a lower commission plus bonus?

What you are saying is sometimes true, sometimes not. We are talking top commissions plus bonuses. Bonuses will not be paid until some minimum production figures are attained (this way we pick up a few dollars with no bonuses paid).
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Others may disagree, but Joe's info/posts have always struck me as "straight-up" - without pretense and undue noisy promotion. If I worked that market, I would consider him without question.

Thanks for the statement of "straight-up". This is the way it is intended. We don't want there to be surprises and want a "front-end" understanding. Our cost of operations is not normally as high as some of the other IMOs. We are debt free, not high-flying spenders, feel we can share our normal overrides, and still make a profit because mainly of increased volume. Our Net Goal in this new way with bonuses is to pay out 40-50% of our overrides to deserving producing agents.

If we get deep into it, and see it cannot be done, agents will have a signed up-front release if we have to change our program too much. Hopefully we will not have to change anything too much.
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As much discussion as I have seen about "Up-Front" releases on this forum, this is our attempt to help solve this problem, and still give the IMO and agent a fair way of doing business, with the agent having a way out if needed.

I can smell some areas of doubt, but our attempt to help solve this problem, is strictly what we have said on the surface. I think you will find any agents dealing with us will tell you we will do what we say.

 

[Joe Moore]

Re: "No Hassle Release Form", Bonuses,Top Commissions, Discount L

Thanks to all who have PMed me for a copy of our new forms, and contracting.

We need email addresses to send attachments to you. The system will not allow attachments. So, we must have the email to attach anything.

Thanks
Joe
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Thanks to everyone who reviewed our forms to try to help us make a better program. This program is truly a program "designed for agents, by agents".

We have made two changes to our original idea:
1. Making sure the renewals are property of the agent, as long as there are no debit balance issues. Thanks RT for the idea.
2. In case of release, we are not going to force the agent to get a reciprocal agreement (this is now optional). This was originally designed to protect an agent to give a place to go if a bad deal was made, but we have had 2 reviewers respond to make it optional. Thanks GS and GM.

Agents thinking they may need a release in the future, want bonuses, etc. now have a place to go.

 

[GreenSky]

Re: "No Hassle Release Form", Bonuses,Top Commissions, Discount L

I'm very happy that Joe has taken it upon himself to spell out how releases will be granted. My objection is that the subject of releases in not part of the contract we sign and is one of the most dishonest parts of this industry.

Joe and I had some discussions both publicly and privately about this in the past and we were on different sides of this issue. But it seems that both of us see that the agent and the marketer needs protection. Joe is clearly one of the (unfortunately few) honest people in this industry and deserves our support.

What Joe has done should be applauded and copied by all marketers. We need transparency in health care and we certainly need transparency in our dealings with marketers.

Joe has shown that he is clearly one of the good guys in the industry. I believe we should support him. Maybe he'll change the entire way we do business.

Rick