Pros and cons of becoming a sub-agent?

Aug 10, 2008

  1. Rib217
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    Rib217 New Member

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    If an opportunity to become a sub agent were a possibility; what would be some of the most common pros and cons?

    The biggest pro i can think of is the possibility of gaining a good chunk of the agents book when he chooses to retire.

    What are the cons that i may not be experienced enough to know about?
     
    Rib217, Aug 10, 2008
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  2. somarco
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    somarco That Medicare Expert Guy

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    Generally, you give up control of your block. If you leave for another opportunity, there may be a non-compete. You may forfeit the right to ongoing commissions, including renewals, especially if you took advances and the earnings have not caught up with the advances. If you have a debit balance, your MGA may opt to come after you for the outstanding balance.

    The positive is, you might learn this business on someone else's dime and be a better agent because of that.
     
    somarco, Aug 10, 2008
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  3. AgentPitstop
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    AgentPitstop Expert

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    Pros- Spending some one elses money to make money.

    Cons - Giving up the higher contract levels that lead to really big checks for yourself.
     
  4. somarco
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    somarco That Medicare Expert Guy

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    Wow. Bringing back a thread from almost 5 years ago.
     
    somarco, Feb 1, 2013
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