Capybara90
New Member
- 5
I just received my life and health insurance license and I was recruited by a small agency in my town. I really wanted to work for them, but the non compete agreement really scares me and it seems like I could be blocked from the insurance industry if things don't work out. It doesn't sound like it is enforceable since it is too broad, but I don't want any legal troubles regardless. I spoke to the owner about it and the only thing he would say is that he could add a clause to review the contract on an annual basis, but I'm not sure if that is a good idea either. I'm not sure if I am overreacting if this is a normal part of business or if the contract really is something I should avoid.
This is the verbiage from the contract. I just changed the names of the parties involved for privacy.
1. NON-COMPETE
Throughout the duration of this AGREEMENT the RECIPIENT shall not, in any manner,
represent, provide services or engage in any aspects of business that would be deemed similar in nature to the business of Insurance Company specifically with respect to its business expertise for system improvements, modifications without mutual agreement including contacts, without the written consent of the Insurance Company.
The RECIPIENT warrants and guarantees that through the duration of this AGREEMENT and
for a period of five (5) years following the culmination, completion or termination of
this AGREEMENT, that RECIPIENT shall not directly or indirectly engage in any business
that would be considered similar in nature to the business engaged in by Insurance Company, its subsidiaries, and any current or former clients and/or customers, including books written, marketing
specifics, or key business affiliations.
This is the verbiage from the contract. I just changed the names of the parties involved for privacy.
1. NON-COMPETE
Throughout the duration of this AGREEMENT the RECIPIENT shall not, in any manner,
represent, provide services or engage in any aspects of business that would be deemed similar in nature to the business of Insurance Company specifically with respect to its business expertise for system improvements, modifications without mutual agreement including contacts, without the written consent of the Insurance Company.
The RECIPIENT warrants and guarantees that through the duration of this AGREEMENT and
for a period of five (5) years following the culmination, completion or termination of
this AGREEMENT, that RECIPIENT shall not directly or indirectly engage in any business
that would be considered similar in nature to the business engaged in by Insurance Company, its subsidiaries, and any current or former clients and/or customers, including books written, marketing
specifics, or key business affiliations.