ISO Sage Advice Changing IMO's

[Loving Life]

Hello Forum Members! I am plotting a move from my current IMO (rookie mistake) and hope you all might offer some insight. My current writing agreement states:

"In accordance with the Policies and Procedures, Agent agrees that during the period while Agent is serving with (X), and for six months following resignation, non-renewal, or termination of Agent’s business, Agent agrees to refrain from selling competing products. This covenant shall survive the expiration or termination of Agent’s authorization and contract with (X)."

Not really clear on what is meant by "competing products". I understand that I will not be able to contract with my current carriers for 6 months, but there are plenty of other carriers out there. Will I run into trouble getting appointed with other carriers, and are there any other issues I might expect while making this change?

Also, it is clear who I would like as my FE IMO, but are there any suggestions as to whom is a good IMO for my other life and annuity business?

TIA

 

[Todd King]

That's sort of normal about not writing for 6 months in order to move your contracts. However, them saying that you can't sell ANY competing products limits your right to work. In most states that is not binding.

I would just write with other companies, wait out the 6 months, then change those contracts to the new IMO.

As far an IMO, you can look at us if you like. Contact info is below in my signature.

 

[Loving Life]

Thank you. Did some research and don't see any problems with starting over elsewhere. Will also look at that IMO you recommended!