Senior Life Services: Cancelations Letters Requirement

[benefitsagent]

Agents, this is written to warn you of the contract requirements which is part if SLS requirements prior to actual getting appointed with them. They require that you sign an electronic cancelation letters that terminate your appointment with all carriers you are appointed with IMMEDIATELY. The cancelation is with each carrier and with each Department of Insurance for non residential states as well. This requirement by SLS will effect any business you may have pending with those carriers or relationship. These Cancelations are required by SLS before you fully appointed by them whereas the region manager may tell you that he/she has to see if you would be a good fit with SLS, after you have complete a 1-2 day nine hours virtual "Ride Along" assignment. Agents, please be VERY careful with these requirements and make sure to ask plenty of questions before signing all the contracts & paperwork.

 

[titeye]

There is a difference between Senior Life Services and Senior Life Insurance Company. That sounds about right for SLS. Did you not know they were captive before you applied?

 

[jdeasy]

Agents, this is written to warn you of the contract requirements which is part if SLS requirements prior to actual getting appointed with them. They require that you sign an electronic cancelation letters that terminate your appointment with all carriers you are appointed with IMMEDIATELY. The cancelation is with each carrier and with each Department of Insurance for non residential states as well. This requirement by SLS will effect any business you may have pending with those carriers or relationship. These Cancelations are required by SLS before you fully appointed by them whereas the region manager may tell you that he/she has to see if you would be a good fit with SLS, after you have complete a 1-2 day nine hours virtual "Ride Along" assignment. Agents, please be VERY careful with these requirements and make sure to ask plenty of questions before signing all the contracts & paperwork.

It's called being captive.

 

[Baseball7]

I don’t know why this is a surprise they run a captive organization providing free leads….

 

[myinsurebiz]

Agents, this is written to warn you of the contract requirements which is part if SLS requirements prior to actual getting appointed with them. They require that you sign an electronic cancelation letters that terminate your appointment with all carriers you are appointed with IMMEDIATELY. The cancelation is with each carrier and with each Department of Insurance for non residential states as well. This requirement by SLS will effect any business you may have pending with those carriers or relationship. These Cancelations are required by SLS before you fully appointed by them whereas the region manager may tell you that he/she has to see if you would be a good fit with SLS, after you have complete a 1-2 day nine hours virtual "Ride Along" assignment. Agents, please be VERY careful with these requirements and make sure to ask plenty of questions before signing all the contracts & paperwork.

If I were providing Free Leads - I would require the same.

We require any Writing Agent that we send our Referral business to - to also do the same. Cancel all appointments with all Carriers and go LOA with us via our Carriers.

You have to,

 

[WinoBlues]

Agents, this is written to warn you of the contract requirements which is part if SLS requirements prior to actual getting appointed with them.

These Cancelations are required by SLS before you fully appointed by them whereas the region manager may tell you that he/she has to see if you would be a good fit with SLS, after you have complete a 1-2 day nine hours virtual "Ride Along" assignment.

Agents, please be VERY careful with these requirements and make sure to ask plenty of questions before signing all the contracts & paperwork.

First, I personally would never sign something like that. Or even verbally be captive or semi captive with anyone. I can not think of a single reason I would need to.

However, you must have thought it was beneficial to you when you read the contract, asked questions and signed the contract.
What changed?

 

[DonP]

The failure in the industry is so high because agents in these chop shop mlm outfits making 70-80% and buying there own leads never had a prayer to succeed. I’m of the believe for most agents to “net “ $150 k they most be at a minimum 120% comp. A Hell of a lot of difference in grossing $150k or netting $150 k in your bank account at yr end

 

[jdeasy]

The failure in the industry is so high because agents in these chop shop mlm outfits making 70-80% and buying there own leads never had a prayer to suceed . I’m of the believe for most agents to “net “ $150 k they most be at a minimum 120% comp. A Hell of a lot of difference in grossing $150k or netting $150 k in your bank account at yr end

Less than 1% of FE agents netting $150K

 

[myinsurebiz]

The failure in the industry is so high because agents in these chop shop mlm outfits making 70-80% and buying there own leads never had a prayer to succeed. I’m of the believe for most agents to “net “ $150 k they most be at a minimum 120% comp. A Hell of a lot of difference in grossing $150k or netting $150 k in your bank account at yr end

Depends.


We pay our "Writing Agents" 40% to 50% of the AP. They just have to answer the phone -or- call a Phone # that knows why they are calling.

 

[myinsurebiz]

I’m of the believe for most agents to “net “ $150 k they most be at a minimum 120% comp. A Hell of a lot of difference in grossing $150k or netting $150 k in your bank account at yr end

We just started our new Insurance MLM.

We have 2 Writing Agents [ WA ] and 17 Referral Agents [ RA ] presently.

March we had 80 Policy's Issued & Paid.

WA #1 - wrote 55 of the 80.

WA #2 - wrote 25 of the 80.

They each earned 40% of the AP. 1st Year Advanced [ 6 months ] + the potential PayThru months 7 - 12.

The average Monthly Premium was in the $75 range.

WA #1 was Advanced almost $10k for the month.

$150k a year net can be achieved with hot contacts.

That is just the Individual potential income. Doesn't count the MLM over-rides . . .