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

[moneycage 2018]

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?

I haven't contracted yet, Have spoken to many though. I have been told YES they do have a right to not grant you a release, many of them put that in the fine print of the Contact. In order to be guarenteed a release you actually need a contract between you and them saying that they will grant you one when you want a release.

I was told most of the time the "HOLDS" that you will be put on with carriers is 6 months. Sounds long but it isnt. If I were you I would just get a job bartending for that time and consider it a paid vacation.

 

[WinoBlues]

This is why I always say get an up front signed open release letter. Even with someone that states publicly that they release. You will probably get your release by posting here but they want to hassle you and the next agent sees this they will give up. This FMO should go off the recommended list until they release and apologize.

How are you going to inforce it?

Someone posted in another thread how they would back the recruiter over an agent.

 

[WinoBlues]

Also thanks for all the encouragement that was given to me both publicly and privately (through DM and email). Those words really meant a lot.

Seems that these guys have burned a lot of other people over the years.

At this point I'm just going to approach it like they're not going to release my contracts. Luckily I only contracted with the companies that they include in their rate quoter... UHL, lifeshield, MOO, Trans, LBL, Americo, RN, prosperity, AMAM, Balt Life, AIG, Gerber, GW (they have foresters and Aetna but I never contracted with them).
I'll miss a few of them but I'm confident that I'll still be able to write a good amount of business with other carriers.

This whole situation has definitely been eye opening for me. I felt like I was dealing with a child rather than a leader in a mutli-million dollar organization.

Better keep an eye on lapses and replacements.

Get in touch with your clients. Let them know _You_ are their agent.

 

[Baseball7]

Again airing your dirty laundry like your on Maury isn't a professional way to handle your concerns.

 

[DayTimer]

Again airing your dirty laundry like your on Maury isn't a professional way to handle your concerns.

To be fair, it's not his dirty laundry though ...

 

[WinoBlues]

Since the majority of agents do not know this forum exist I imagine there are a lot of guys not getting timely fair releases.

 

[myinsurebiz]

Get Ben or Eric to over-ride Chase - he is just a minnow in the pond of big fish . . .

 

[DayTimer]

Since the majority of agents do not know this forum exist I imagine there are a lot of guys not getting timely fair releases.

Sounds like we need a Facebook group for FE Agents wanting to get releases but not getting released ...

 

[Baseball7]

To be fair, it's not his dirty laundry though ...

It's just not how I'd chose to or had chosen to address issues.

 

[WinoBlues]

It's just not how I'd chose to or had chosen to address issues.

What may have been a more productive way?