SIAA Alliance for Independent Insurance Agents

[HealthGuy]

People dont back out of SIAA contract because if you try to sell it or go direct you will owe SIAAs local master agency your two eldest children. Why do SIAAs master agencies hold so much power contracturally ? SIAAs contracts are ridiculously weighed towards favoring the master (local mothership) agency...once you are in with mother you never leave...you make the master agency millionaires and then you never leave !

 

[scooter33]

SIAA has been great for us BUT when realizing we can stand on our own we reviewed the contract to realize its disgustingly (and arguably highly unethical) with how strong armed we are. Very hard to grow without them...basically IMPOSSIBLE to ever get out. And NO...read the contract because when it comes down to selling or getting out YOU SURE AS HELL DON'T ***OWN*** it by any stretch of the word ---------- Patrick...could you elaborate on the how many people stay with SIAA vs leaving? I'm sure it's an extremely small number who ever actually leave.

Finally someone that speaks the truth... Thank you!

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People dont back out of SIAA contract because if you try to sell it or go direct you will owe SIAAs local master agency your two eldest children. Why do SIAAs master agencies hold so much power contracturally ? SIAAs contracts are ridiculously weighed towards favoring the master (local mothership) agency...once you are in with mother you never leave...you make the master agency millionaires and then you never leave !

I know a handful of agencies that have left SIAA... I will be next. Just making sure I have all my ducks in a row.

 

[termed]

I was terminated from a captive company and was desperate for appointments. This alliance worked very well for me and I have no problem with the upfront or monthly fees. It has been three years and I have grown substantially! (Yes, thanks to them).

But....now I would like more control of my own destiny and have been researching the termination clause. OUCH!!! (of course I didn't read it when I signed - we only talked entry fee and monthly fee!)

It is not very clear can someone help??? It sys the fee is 25% of last twelve months then in the next section the "formula shall be multiplied by 2!!!"

IS IT 50% TO GET OUT??? HELP!!!!

 

[HealthGuy]

and guys get on my case for doggin the siaa out clause ?! ha ha

 

[scooter33]

I was terminated from a captive company and was desperate for appointments. This alliance worked very well for me and I have no problem with the upfront or monthly fees. It has been three years and I have grown substantially! (Yes, thanks to them).

But....now I would like more control of my own destiny and have been researching the termination clause. OUCH!!! (of course I didn't read it when I signed - we only talked entry fee and monthly fee!)

It is not very clear can someone help??? It sys the fee is 25% of last twelve months then in the next section the "formula shall be multiplied by 2!!!"

IS IT 50% TO GET OUT??? HELP!!!!

Plus there is another section that talks about another 5% of annual commission. SIAA is complete BS. Get out while you can afford it now. SIAA is only about one thing and one thing only… getting SIAA and their master agencies rich off of our backs. STAY AWAY FROM SIAA.

 

[HealthGuy]

Scooter YOU said it not me...Where is that guy F150 ? hes gonna dog you LOL

 

[termed]

anyone want to answer my question? how much to get out early???

talk about an ambiguous contract!!!

 

[scooter33]

anyone want to answer my question? how much to get out early???

talk about an ambiguous contract!!!

Every contract is a little bit different so you will have to read the contract very carefully. Also, I would recommend you hire a good contract attorney, preferably someone with insurance industry knowledge. I have seen contracts that have a clause that tapers off and I have seen ones that are set. The 25% times two portion of the contract seems to be universal.
Their contracts are so one sided.. It’s almost laughable when you really understand it in depth.

SIAA = fee to get in, fees monthly, they take 50% of bonuses, early termination fee + fee to buyout and a fee when you sell. Sounds like a nightmare.

 

[HealthGuy]

NO Scooter every SIAA agent that signs their bad boy contract says the contract ROCKS LOLLL

 

[termed]

Why can't anyone answer me? Is is 25% to get out or 25% x 2????