Recertifying PFFS could mean staying married to FMO

Jun 23, 2007

  1. honestagent
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    honestagent Guru

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    That's right folks. Read your contracts.

    Let me give you a class act example. Susie abstains from writing Humana for over 6 months (on the assumption that with this fmo, it's 6 not 12 months to get control again) thinking she's in the clear now and can park her contract soon in a different lot to do business. Meanwhile, she's having to write other companies so she can get her Humana contract back but then ugh oh... she has to recertify. :err:


    Now,... Susie wants to be compliant so she does... but ugh oh... the recertification just ACTIVATED A NEW BEGINNING to the marriage all over agian, while she thought she would be eligible for a final divorce come fall or just a bit sooner than fall because she's waiting out her period of 6 months!!!

    Bottom Line: Read your contracts; just b/c you wait your time does not mean you're single again and ready to play the field. :no:
     
    Last edited: Jun 23, 2007
  2. Guest
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    Guest Guest

    You know what all of this means? It means that the FMOs are a lot smarter than we are. We bring them the dollars but they have US by the balls.

    Maybe if enough of us said "%$#@ you guys. I'm not going to sell your product unless I can be direct to you. I have a licence and that means I have choices... life, health, DI, annuities, mortgage, final need, settlements, reverse, workplace supplements... and just how hard would it be for me to get a P&C ticket?" You want me to sell YOUR products, put money in YOUR pocket, but you want to hamstring me into a no-cut contract? $#@! that $#@#!

    I don't know about the rest of you, but I cannot see any reason to sell any carrier that makes you go through an FMO. If I want to sell MA, I can sell the Blue Cross Freedom. If I want to sell M-supps, I can sell Blue Shield. When do we start doing what is in OUR best interest? Just how often do we have to be %$#@ in the #@[email protected]!?

    What we agents need is an organization that represents OUR interests. If there is one out there, I sure as %$#@ have not seen it.

    YMMV.

    Al
     
    Guest, Jun 23, 2007
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  3. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    Why would you get recertified before your release date if you do not plan on selling the product? That doesn't make any sense to me:goofy:
     
  4. BKrocko
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    BKrocko Guru

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    Perhaps that is what NAPA had in mind when it started. Each state DOI could also help, but they make strange bedfellows with agents. Where is Jimmy Hoffa when you need him?
     
    Last edited: Jun 23, 2007
    BKrocko, Jun 23, 2007
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  5. Bob_The_Insurance_Guy
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    Bob_The_Insurance_Guy Guru

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    I've learned my lesson. I'm direct with Humana and BX. Come November, guess what I'm selling.

    It's not that I dislike my FMO, but I'm tired of all the stories I keep getting about where my "hold back" money is. I'm done.

    I'm direct with Coventry for the Group and Individual major med. I'm going to call them to see if I can go direct with the MA as well.
     
  6. Guest
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    Guest Guest

    Is BenefitMall considered an FMO? If I put a BC group through them do I first have to have my direct appointment changed with BC such that BM 'owns' me?

    Thanks,
    Al
     
    Guest, Jun 23, 2007
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  7. GreenSky
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    GreenSky Guru

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    BenefitMall is a General Agency. They have no ownership of you nor your policyholder.

    I use Word and Brown as my primary group GA. I also can go directly with the carrier. No conflict.

    Rick
     
    GreenSky, Jun 23, 2007
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  8. Guest
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    Guest Guest

    How do you define a general agency as opposed to an FMO/IMO?
    Al
     
    Guest, Jun 23, 2007
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  9. GreenSky
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    A General Agency receives an override for helping you place insurance. You have no obligations to a GA.

    An FMO actually OWNS you.

    If you are concerned as to which position the marketing company assumes, ask them.

    In California, it is rare that you need to go through an FMO for anything other than MA products and an occasional supplement.

    Rick
     
    GreenSky, Jun 23, 2007
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  10. Guest
    Online

    Guest Guest

    Thanks for the info. (Note, I've spoken to Rick on the phone in the past and they guy knows EVERYTHING about insurnace in CA!)

    It seems that you need to go through an FMO to sell most annuities and LTC. Not sure about life. Am I right or wrong on this?

    It looks like the FMO thing is how carriers want to go these days... and we agents are like sheep and just seem to follow along... no matter how badly we get screwed.

    Al
     
    Guest, Jun 23, 2007
    #10
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