Hey everyone ... looking for some feedback. I'm newer to insurance ... licensed in Ca. last year (L&H, P&C). Initially the plan was to go independent and I signed up with two IMO's and was appointed with some carriers. Some delays in my life occurred and I never got off the ground. This year I'm ready to go and have now decided to go captive with a State Farm office so that I can get some experience behind me before I consider having a go at going independent.
One of the IMO's I was with released/terminated me with the carrier right away ... within one day.
The other IMO still has not released me a week later. I spoke with someone in that office today to see if I could get a timeframe of when I would be released as I can't start with State Farm or get appointed with them until I'm released with all other carriers and I wanted to be able to provide State Farm with a timeframe. I was advised that they are very backlogged and he couldn't give me a timeframe of when I would be released. He said that their business has "exploded" and that they are very backlogged and he didn't want to give me a timeframe because he didn't know how long it would be. In a previous email, I was told that they have to confirm that I have a zero debt balance with them and then they would send me an email with the release paperwork and instructions ... he confirmed this is the process and he said it usually only takes about 2-3 days but because they're backlogged it's taking much longer. I advised him that I've never written any business with them/carriers or purchased any leads with them and so I should not have any kind of debt balance. He said that doesn't mean that I don't owe money. He said that some carriers don't appoint you until you actually write business and some have appointment fees and take it out of your first commission, so I might have fees from the carrier(s). I was not aware this could be the case. I asked him if I could call the carriers myself to ask if I owed them any fees. He replied I could but that they would still have to confirm it themselves ... which, I understand ... at this point I just want to know and can find out faster myself.
When I asked if we're talking about weeks or days before they get to releasing me (it's already been a week) ... he still didn't say other than to say they're very backlogged. He also added that once they finally confirm if I have a balance or not and send me the email with the release paperwork and instructions that it would still take about a week after I complete that. I asked about contacting the carriers directly myself to get my appointments released/terminated. He said I could but advised against it. He said that if I do that, it could hurt me with those carriers if I decided to go independent in the future ... I'm not sure how it would hurt me though?? He said that their (IMO's) contracts have certain protections written in to protect me and again advised me against going directly to the carriers to get my appointments released/terminated.
So, how would this hurt me if I went directly to each carrier to get my appointments released/terminated? In your experience, what could the IMO be protecting me from if I were to go directly to the carriers to terminate my appointments? This doesn't make sense to me and I'm trying to understand.
Also, he said that I'm appointed with five carriers with them. I told him that when I check on the Ca. Dept. of Insurance website that it only shows two carriers. He advised me that it's because some carriers appoint you when you write your first policy with them but that I still have contracts with them, the IMO. So, am I actually appointed with these carriers or am I only appointed with the carriers that appear on the Ca. DOI website?
Thank you for any feedback/help you can offer.
One of the IMO's I was with released/terminated me with the carrier right away ... within one day.
The other IMO still has not released me a week later. I spoke with someone in that office today to see if I could get a timeframe of when I would be released as I can't start with State Farm or get appointed with them until I'm released with all other carriers and I wanted to be able to provide State Farm with a timeframe. I was advised that they are very backlogged and he couldn't give me a timeframe of when I would be released. He said that their business has "exploded" and that they are very backlogged and he didn't want to give me a timeframe because he didn't know how long it would be. In a previous email, I was told that they have to confirm that I have a zero debt balance with them and then they would send me an email with the release paperwork and instructions ... he confirmed this is the process and he said it usually only takes about 2-3 days but because they're backlogged it's taking much longer. I advised him that I've never written any business with them/carriers or purchased any leads with them and so I should not have any kind of debt balance. He said that doesn't mean that I don't owe money. He said that some carriers don't appoint you until you actually write business and some have appointment fees and take it out of your first commission, so I might have fees from the carrier(s). I was not aware this could be the case. I asked him if I could call the carriers myself to ask if I owed them any fees. He replied I could but that they would still have to confirm it themselves ... which, I understand ... at this point I just want to know and can find out faster myself.
When I asked if we're talking about weeks or days before they get to releasing me (it's already been a week) ... he still didn't say other than to say they're very backlogged. He also added that once they finally confirm if I have a balance or not and send me the email with the release paperwork and instructions that it would still take about a week after I complete that. I asked about contacting the carriers directly myself to get my appointments released/terminated. He said I could but advised against it. He said that if I do that, it could hurt me with those carriers if I decided to go independent in the future ... I'm not sure how it would hurt me though?? He said that their (IMO's) contracts have certain protections written in to protect me and again advised me against going directly to the carriers to get my appointments released/terminated.
So, how would this hurt me if I went directly to each carrier to get my appointments released/terminated? In your experience, what could the IMO be protecting me from if I were to go directly to the carriers to terminate my appointments? This doesn't make sense to me and I'm trying to understand.
Also, he said that I'm appointed with five carriers with them. I told him that when I check on the Ca. Dept. of Insurance website that it only shows two carriers. He advised me that it's because some carriers appoint you when you write your first policy with them but that I still have contracts with them, the IMO. So, am I actually appointed with these carriers or am I only appointed with the carriers that appear on the Ca. DOI website?
Thank you for any feedback/help you can offer.
. I'm aware of all the issues here in Cali right now but I feel this might be the best route to go for now so that I can get some experience behind me. I'll be able to get some exposure and use my L&H and P&C license with them ... as an independent I was only looking to write life insurance. I'm just looking to gain some experience at the moment. Not sure if I'm making the right decision or not ... only time will tell. But I can change paths any time I choose as well, if this doesn't work in my favor or benefit me. I'll also be able to write in Oregon and Arizona as well, as this office is licensed in those states and I'll get a non-residence license for those two states.
