Questions About a Non-compete Clause...

[fdahl82]

Ok, so my rica's non-compete is REALLY confusing! I even tried reading it to a brokering agent, and she was confused as hell! Is there someone that would mind helping me with this PLEASE. PM me and I will type it out. I don't know if I am allowed to post it here. If I am let me know, and I will, that way I can get everyone's opinion on it.

Thanks!
Flora

 

[HarryRenard]

Ok, so my rica's non-compete is REALLY confusing! I even tried reading it to a brokering agent, and she was confused as hell! Is there someone that would mind helping me with this PLEASE. PM me and I will type it out. I don't know if I am allowed to post it here. If I am let me know, and I will, that way I can get everyone's opinion on it.

Thanks!
Flora

What exactly are you afraid of , have you written a lot of business there.

The only way they can find out if you were to replace something is if the person tells them.

I saw in another post that you were worried about replacing your policies, you have nothing to worry about, people cancel insurance policies everyday, and as long as you dont tell them you have nothing to worry about.

 

[fdahl82]

No I personally have not written any business. I am not licensed yet. However, my upline wrote my fil's policy, which I am NOT going to try to replace at this time, as he is ecstatic that he was approved. And he wrote my policy which has issued and I have not paid for yet.

I just want to make sure the non compete is not going to hinder me in my area, as it is a 2 year 50 mile radius non compete.

What exactly are you afraid of , have you written a lot of business there.

The only way they can find out if you were to replace something is if the person tells them.

I saw in another post that you were worried about replacing your policies, you have nothing to worry about, people cancel insurance policies everyday, and as long as you dont tell them you have nothing to worry about.

 

[HarryRenard]

They cant stop you from earning an income. That would be the last thing I would worry about.

 

[fdahl82]

um actually, that's kind of what a non-compete is...

They cant stop you from earning an income. That would be the last thing I would worry about.

 

[HarryRenard]

um actually, that's kind of what a non-compete is...

Then go work at Mcdonalds for two years or go outside the the 50 mile radius Or you can just not worry about it.

I have worked at captive shops and have never had a problem or seen anyone have a problem selling insurance after leaving a company. Most of those offices even knew I was writing business with other companies too.

If you are replacing that companies business that is a differrent story.

I will say it again they can not stop you from earning a living in this business, you have never even written anything there, they will forget about you five minutes after you walk out the door.

 

[Josh]

um actually, that's kind of what a non-compete is...

They're not legally enforceable if they cross certain lines. 2 year/50 mile radius is probably on the edge. There are a lot of things that would fact into this, but if someone hasn't invest a lot in you and you were just an agent then odds are you have absolutely nothing to worry about if you're not stealing old clients.

When you say rica, do you mean primerica? If so, just got for it! PM me with more details if you want more help.

 

[HarryRenard]

um actually, that's kind of what a non-compete is...

You getting a lot of snow up there?

Its been coming down here all day.

 

[fdahl82]

UGH! snow!! I'm sick of looking at the stuff!!!! yeah we have about 5 or 6 inches so far, we're suppose to have 2 ft. blech!

You getting a lot of snow up there?

Its been coming down here all day.

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yes primerica. i just wanted to be sure... although it basically says in their wording that for it to be enforceable, that i have to meet all 4 of their points and I don't. but i don't doubt that they are going to try and tell me that i signed it and that i can't do business. kwim?!

They're not legally enforceable if they cross certain lines. 2 year/50 mile radius is probably on the edge. There are a lot of things that would fact into this, but if someone hasn't invest a lot in you and you were just an agent then odds are you have absolutely nothing to worry about if you're not stealing old clients.

When you say rica, do you mean primerica? If so, just got for it! PM me with more details if you want more help.

 

[insuranceexec]

What were you given for exchange for the non-compete?

In most states a considerable sum of money or true Intellectual property must be given to enforce a non-compete.

Ask an attorney.