Senior Life Insurance Company Burns Louis Burns, Top Recruiter

[GMDM100k]

But these same guys drank the koolaide for 5 or more yrs . Now that they got nailed sl is suddenly trash .Price is on All the big Facebook groups and knows many Indy Fmo’s . It’s prosperous to think he didn’t know all the pitfalls with his contract . This is a lesson of being all in with one carrier . It’s no different than having all your money in one stock . Even an Independent agent should have his contracts with 2 Fmo’s . Business relationships are no different than marriages . Things can go bad

Yeah I bet it sucks for someone to have to put their foot in their mouth. Happens all the time. People love their companies and even imo then when something goes bad they hate them. I’m sure they will be fine. It only takes a couple of days to pick up a new carrier. David price posted on Facebook he already wrote more than 200k with his new carrier lineup.

I think going all in on one carrier is the same as someone going all in on any one job or business.

It’s only in the insurance business that people think diversifying in the same market will bring you higher job security.

We’re all just one department of insurance investigation or major lawsuit away from losing all of our company appointments regardless of how many carriers or imos we have.

Maybe even a bad bankruptcy or a political Facebook post going viral

 

[jdeasy]

Yeah I bet it sucks for someone to have to put their foot in their mouth. Happens all the time. People love their companies and even imo then when something goes bad they hate them. I’m sure they will be fine. It only takes a couple of days to pick up a new carrier. David price posted on Facebook he already wrote more than 200k with his new carrier lineup.

I think going all in on one carrier is the same as someone going all in on any one job or business.

It’s only in the insurance business that people think diversifying in the same market will bring you higher job security.

We’re all just one department of insurance investigation or major lawsuit away from losing all of our company appointments regardless of how many carriers or imos we have.

Maybe even a bad bankruptcy or a political Facebook post going viral

You can only trust others as much as you can be trusted. If you are the type that can't be counted on then you better watch your back. If you can be trusted then it will be returned to you.

I don't have a signed contract with FEX. Nor do I need one. And I couldn't disagree more with the tininking that an independent agent needs more than one IMO. In fact, the best agents are almost always with one IMO. Only caveat being that the IMO is one that releases.

I agree that things change. Change with them. As for the IMO, it's possible for a partner to leave or die and that would change the dynamic. Or bring on a new partner that shifts the focus. That's where releases are important.

Move on if it's not right. Nothing will ever work out with an angry soul.

 

[titeye]

Every contract I have ever seen has a way for you to forfeit your renewals. Some have a minimum persistency. Some have if you’re termed with cause. Some have if you roll business or recruit their agents. All of them have a pay pack period for debt.

The big problem with SL is that you have to pay back your debt in 90 days. Including advance debt. That’s hard for agents to do. Even harder for an agency owner to do. If they term all your agents you also have to pay back their advance debt too if they didn’t. All within 90 days. Most carriers give you a year.

I’m not saying its impossible but definitely not an easy check to stroke.

I’ve heard from Mr burns himself why he thought he was termed. He made derogatory statements about the owner Ron. Ron found out and told him he was going to lower his contract by 5 percent because of his statements. Burns threatened litigation and was termed immediately after.

He then received a letter that he had to pay back hundreds of thousands of dollars in 90 days or he forfeits his renewals. He posted the letter on Facebook.

Also Ron is refusing to buy back the stocks he bought in SL.

Another big hitter was termed that same weekend David Price. But he has not been too vocal about the situation besides saying they are keeping his money and that it was similar to being in a mafia family.

I (we) asked Greg (aka theinsuranceman) these exact questions, which he quickly flipped and tried to get me to believe I was asking why Lewis got termed.
When asked, he flat out denied that renewals were not forfeited in the event debt was not paid back within that period. No only did he deny it, he failed to elaborate and clarify any misunderstandings about it, yet continued his recruiting effort(s) instead.

For GMDM100k to respond to questions directed at Greg suggests that he has something to hide, or is ashamed to admit what has come to light.