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

[Crabcake Johnny]

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

I have seen great improvements to the release situation and certainly this forum has been at least partially responsible. I advise all of my association members to get the terms of a release in writing. Disclosure is key.

If any FMO/IMO/MGA does not release under any circumstances, they have a right to conduct business that way however it should be made clear to all agents while contracting.

Something I'd like to accentuate is that if the terms are not in writing, verbal promises are worthless. Never accept "don't worry, you own your book with us" as sufficient. The terms should state "immediate vesting" or "no vesting period."

 

[Joe Moore]

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

Rick,

Gosh, all I can say is a big THANKS for your statement!

As you and I have discussed, I see both sides of the issue between agent and IMO. I feel I am first an active agent that has been fortunate enough to help grow our business enough to be able to obtain some of the top contracts, so we can pass top contracts along to other agents. We can now also offer bonuses to our top producers.

I was really not aware of the release problem until I got on this board. We had always tried to work with the agent wanting a release, as long as there was not a debit balance issue. Our new release forms still address debit balances, simply because we cannot afford to and do not intend to pay someone else's debts. It has taken a year, but I feel with yours and a few others help, the release problem may be a thing of the past.

I have been in this business 23 years, and love it. I love to sell, recruit good agents, and see our agents do as well or better than we do (and we do have agents that outsell us). I feel good agents earn their money and should have the highest contracts that can be allowed.

As you know, we do not operate a "hand-holding" operation. We do not have the mark-up or personnel to do a lot of help that the captive companies can give. But, that can also be the difference for the agent of a 60% contract and a 105%+ contract.

Thanks again Rick, and all others giving input into helping us form our release agreement, advance agreement and bonus agreement forms.

By the way, if anyone wants to be my friend, or my son Greg Moore's friend on Facebook, look us up.

Joe