theleadingagent
Guru
- 381
What is my ability is to get contracted with insurance companies that are not on my IMO/FMO company’s list of insurance carriers?
Contacts With Other Insurance Companies?
- Thread starter theleadingagent
- Start date
Nothing to keep you from contracting with whom you want unless you are captive and your present association would penalize you for contracting outside their operation..
- 25,002
Technically nothing. You are independent. Or supposed to be. Many people that are tied to certain IMOs say they are (I)ndependent but are more captive (i)ndependents. Their IMO wants all of the life business to go through them. They may allow you to date outside of the relationship but you may lose some benefits.
I am (I)ndependent. For example, Today I have spoken to MoO and TA who I have through Todd, I have spoken with SNL who I am direct with, I have spoken to United Heritage, again direct and Sagicor who I am through a different upline. None of it makes any difference to me. I usually deal with the companies if I need anything, However, If I need Todd for anything I call or text him.
So the answer is nothing unless your current IMO spanks you for looking for your sugar somewhere else.
- 4,036
If your IMO is paying for or subsidizing your leads, going outside is going to be frowned upon. Also, if you rewrite any of their cases, even lapsed business, with an outside carrier, you could have some problems. Best to ask the IMO what their policy is.
- 29,506
Didn't Newby say that Fexcontracting is captive?Technically nothing. You are independent. Or supposed to be. Many people that are tied to certain IMOs say they are (I)ndependent but are more captive (i)ndependents. Their IMO wants all of the life business to go through them. They may allow you to date outside of the relationship but you may lose some benefits.
I am (I)ndependent. For example, Today I have spoken to MoO and TA who I have through Todd, I have spoken with SNL who I am direct with, I have spoken to United Heritage, again direct and Sagicor who I am through a different upline. None of it makes any difference to me. I usually deal with the companies if I need anything, However, If I need Todd for anything I call or text him.
So the answer is nothing unless your current IMO spanks you for looking for your sugar somewhere else.
- 29,506
BEFORE you contract with them.
- Thread starter
- #7
theleadingagent
Guru
- 381
^true. If I were more educated about this topic at that time I would have asked then.
I have to pay for my own leads. A couple times when I was starting out with limited funds they gave me some leads (but I wrote multiple policies with those aged hard leads so I think I’ve paid my debt off for that)
Also I’m wondering if I get contracted with other companies is it necessary to tell my manager?
I have to pay for my own leads. A couple times when I was starting out with limited funds they gave me some leads (but I wrote multiple policies with those aged hard leads so I think I’ve paid my debt off for that)
Also I’m wondering if I get contracted with other companies is it necessary to tell my manager?
- 4,036
Not necessary, but if he/she is going to have a problem with it, it’s easy enough to discover your other company appointments. I’d still recommend having that conversation. If their policy is one you can’t live with, move on!
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