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Is this considered internal replacing? Will agent get paid? Is agent allowed to do this?
Replacing Heartland National Medsupps W/ Equitable Life & Casualty?
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Well, Heartlands apps are administered by Equitable. That would qualify as an internal replacement. You would likely get paid but it will be half or less than if it wasn't an internal replacement. Look at your appointment contract it should tell you what the com. guidelines are in your state.
EL&C administer the Heartland product but that aren't the underwriter. They are two different companies so I don't know how they could call it an internal replacement. They could adopt a rule that they would not accept Heartland replacements. They haven't addressed replacing Heartland one way or another. Perhaps we should ask the agency dept. what EL&C stand on this is.
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When I write a Heartland Medsupp it says E L&C right on the Heartland website in pending business. Yes, its a seperate company. Just like Gerber being administered by MoO. They treat them as separate entities. I haven't honestly replaced one for the other in that situation, so I can't say 100%. However that is the understanding that was passed down to me. You ever wrote a replacement like that?
Not with Med Sup but when I was with AGLA we used to replace American General (Houston) polices and we received full commission. I would say that has come to a halt now that the two companies have actually been merged into one company even though each operates as a "division" of the company.
It will be interesting to hear what the EL&C HO has to say.
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