UPDATED EFES/Equita does NOT give releases (New agents please read)

[Who.but.me]

I'd appreciate any advice as to what my options are.

I contacted EFES last week and asked for a release. I was told by Chase who is the VP of sales (and the only person that I have ever dealt with over there) that he has to discuss it with his team. After not hearing anything back from him I followed up today and I was told that, 'they put too much time and energy into me and they were not going to release me at this time'.

After several minutes of me going back and forth with him trying to understand why they would not give me a release, he then requested that I send him a list of contract levels that were being offered to me by the IMO that I choose to go with. And after he and his team reviewed those levels they would CONSIDER giving me a release. I am new to final expense but is this a standard requirement?

Just a little background.
I contracted with EFES a little over 2 months ago. I contracted directly with them so I had no direct upline. I spent countless hours watching content from David Duford, Doug Massie, and listening to any insurance related podcast (including EFES's). I never had any ride alongs or field training so my first month was very frustrating. I didn't need/want a lot of hand holding but a LITTLE guidance would have really helped. I called Chase a few times but was mostly rushed of the phone or referred to their group chat.

I still managed to write 18k my first month and 16k my second, but since I was in a situation where I felt I wasn't getting any help anyway I decided to move to an IMO that at least offered me higher contracts and access to more carriers. I know that we are all independent agents but my experience with them was not at all what I expected it to be.

Well now I'm being told I will not be released. I don't owe any carriers, or any lead money. Is it standard practice for an IMO to not release an agent if they don't feel like it?

 

[Thad.Sipple]

I am confused you wrote 18K and then 16K on whose leads and you want to leave? Do you realize that 34K in premium is debt to the upline plus any lead financing or whatever leaD you used to write the 34K in 2 months. Dude try personal responsibility first. Us veterans on the forum realize there are 2 side to the story, what are you NOT telling us, cut 34K in 2 months is pretty good, so why leave?

 

[WinoBlues]

I'd appreciate any advice as to what my options are.

I contacted EFES last week and asked for a release. I was told by Chase who is the VP of sales (and the only person that I have ever dealt with over there) that he has to discuss it with his team. After not hearing anything back from him I followed up today and I was told that, 'they put too much time and energy into me and they were not going to release me at this time'.

After several minutes of me going back and forth with him trying to understand why they would not give me a release, he then requested that I send him a list of contract levels that were being offered to me by the IMO that I choose to go with. And after he and his team reviewed those levels they would CONSIDER giving me a release. I am new to final expense but is this a standard requirement?

Just a little background.
I contracted with EFES a little over 2 months ago. I contracted directly with them so I had no direct upline. I spent countless hours watching content from David Duford, Doug Massie, and listening to any insurance related podcast (including EFES's). I never had any ride alongs or field training so my first month was very frustrating. I didn't need/want a lot of hand holding but a LITTLE guidance would have really helped. I called Chase a few times but was mostly rushed of the phone or referred to their group chat.

I still managed to write 18k my first month and 16k my second, but since I was in a situation where I felt I wasn't getting any help anyway I decided to move to an IMO that at least offered me higher contracts and access to more carriers. I know that we are all independent agents but my experience with them was not at all what I expected it to be.

Well now I'm being told I will not be released. I don't owe any carriers, or any lead money. Is it standard practice for an IMO to not release an agent if they don't feel like it?

We alway hear one side of these stories to begin with. So taking this with a grain of salt.


Great months! Keep them going. You can start contracting with a new IMO and direct to companies today.

""I know that we are all independent agents........ ""

Sorry, but you are very fortunate to get this lesson earlier than later. _IF_ as you say, you wrote $34,000 in the last 60 days. You have some first year income already. Regardless how many companies you tied up with them you can continue to write business with other companies until they release you or the six months are over. _IF_ they are just being assholes, give them some grief. If you have some fault here, just jog left or right and keep on keeping on. This is just a frustrating bump in the road. They are not going to lose any sleep over you or your family don't let them affect you.

 

[myinsurebiz]

How many carriers you contract through them? Who? They may be shit carriers anyway.

Check and see if any of those allow dual contracts.

Send in your Term Letter and write other carriers for 6 months and tell Chase to Phuck Off . . .

If you can find your present Clients a better deal from another Carrier - roll em over. Don't replace just based on your commission - make sure the new policy is indeed a better deal for the Client.

I'd appreciate any advice as to what my options are.

I contacted EFES last week and asked for a release. I was told by Chase who is the VP of sales (and the only person that I have ever dealt with over there) that he has to discuss it with his team. After not hearing anything back from him I followed up today and I was told that, 'they put too much time and energy into me and they were not going to release me at this time'.

After several minutes of me going back and forth with him trying to understand why they would not give me a release, he then requested that I send him a list of contract levels that were being offered to me by the IMO that I choose to go with. And after he and his team reviewed those levels they would CONSIDER giving me a release. I am new to final expense but is this a standard requirement?

Just a little background.
I contracted with EFES a little over 2 months ago. I contracted directly with them so I had no direct upline. I spent countless hours watching content from David Duford, Doug Massie, and listening to any insurance related podcast (including EFES's). I never had any ride alongs or field training so my first month was very frustrating. I didn't need/want a lot of hand holding but a LITTLE guidance would have really helped. I called Chase a few times but was mostly rushed of the phone or referred to their group chat.

I still managed to write 18k my first month and 16k my second, but since I was in a situation where I felt I wasn't getting any help anyway I decided to move to an IMO that at least offered me higher contracts and access to more carriers. I know that we are all independent agents but my experience with them was not at all what I expected it to be.

Well now I'm being told I will not be released. I don't owe any carriers, or any lead money. Is it standard practice for an IMO to not release an agent if they don't feel like it?

 

[goillini52]

We alway hear one side of these stories to begin with. So taking this with a grain of salt.


Great months! Keep them going. You can start contracting with a new IMO and direct to companies today.

""I know that we are all independent agents........ ""

Sorry, but you are very fortunate to get this lesson earlier than later. _IF_ as you say, you wrote $34,000 in the last 60 days. You have some first year income already. Regardless how many companies you tied up with them you can continue to write business with other companies until they release you or the six months are over. _IF_ they are just being assholes, give them some grief. If you have some fault here, just jog left or right and keep on keeping on. This is just a frustrating bump in the road. They are not going to lose any sleep over you or your family don't let them affect you.

I've always thought that EFES preached about open releases.

 

[suranceman]

If you can find your present Clients a better deal from another Carrier - roll em over. Don't replace just based on your commission - make sure the new policy is indeed a better deal for the Client.

Don't do this. Paying back roughly $30-$35k in advanced commission is probably not going to happen and then it's Vector time. Not to mention, it's stealing... With Vector hit, you won't be able to get new contracts with any carrier and some of your current carriers may even put you on as earned when they see the Vector hit.

 

[WinoBlues]

I've always thought that EFES preached about open releases.

Again, we do not know the details of any of this.

However,

They or any other IMO could send you a gold embossed "we will release" letter with contracting. If they just say "ah nah" at you leaving whatcha gone do? I would bet they have bigger lawyers than you.

 

[WinoBlues]

Don't do this. Paying back roughly $30-$35k in advanced commission is probably not going to happen and then it's Vector time. Not to mention, it's stealing... With Vector hit, you won't be able to get new contracts with any carrier and some of your current carriers may even put you on as earned when they see the Vector hit.

So what are you suggesting?

 

[goillini52]

Again, we do not know the details of any of this.

However,

They or any other IMO could send you a gold embossed "we will release" letter with contracting. If they just say "ah nah" at you leaving whatcha gone do? I would bet they have bigger lawyers than you.

Which is why I'd never put all my eggs in one basket.

 

[Rob Lion]

Lol