Wanting to Leave my Captive Company

[Bittersweet614]

I have been working for a captive company in Ohio for 3 years, and I want to get out of this structure. I feel very limited in my product offerings and I am growing tired of my Branch Manager taking 35% of my commissions, on top of the $250/mo "rent" for my office space.
I primarily work the senior market selling Med Supps, Life (mostly FE), LTCi, and Critical Illness. I would like to sell MA's but my only option is Humana and I don't like them.
I am gathering info about going completely independent or working for an IMO or SMO.
What IMO's or SMO's should I be looking at, which should I avoid, or how do I go Independent? What commissions should I expect? What questions should I be asking when I am talking to companies.

I know you folks get asked these questions all the time and I appreciate any feedback you can provide.

 

[lifeandhealth]

IMO, Independent is the way to go, which basically means you're running your own business. Good luck to you.

 

[Norwayguy]

Step one is review your current contract and understand what your obligations are once you leave. Realize you may have to go 6 months or longer not producing with your current carriers to move contracts so are there other competitive carriers in your market? You might need to stop producing with certain carriers now in preperation for the move.

 

[Gabe9175]

Norwayguy makes a really good point. While I agree that the independent agent rout is the place to be, there are pluses and minuses to every situation. I would do the ol line down the middle of the paper and do a pro's/con's list. I would also find out commission and expenses to go independent vs. your current situation.

 

[russelltw]

The other issue I would raise is your prospecting method. Do you have a system to generate leads on your own? If so good. Save some cash and get ready. If you rely on the "walk in" business or your current company's leads, you might need to rethink things until you can generate your own leads/prospects.