Requesting Help on fair Life ins. split ind. agent with est. agency.

[scagnt83]

It is the life side of the arrangement as I now believe there is only one carrier that they specialize in life. I am starting over and they have been the best agency that I have researched in the last 12 months in my area. The arrangement would require me to only write with the one carrier. Not a fan but they are offering the best deal as I do need the commercial PC.

I understand, you need what you need for the PC side. Not ideal at all for the life insurance side though ... I wonder why you are required to write traditional through them but can use your own IMO for FE?? That is odd.

Hopefully its a strong carrier they chose. Let us know and we can give you more insight and tell you what street is for that carrier.

 

[Allen Trent]

What is the carrier? Only a handful of life carriers have direct contracting. Just to warn you, Ive heard P&C agencies claim to have "direct relationships" with the life carrier when they are really just going through an upline, either IMO or FMO. Sometimes I think its just differences in terminology between the sides of the biz. Because the GA still deals directly with the carrier even when going through a FMO.

If they are directly contracted with the carrier, then you should get street comp for what you described.

could be some commercial carriers that have life products & the commercial PC products get discounts for having life and/or agent gets better renewals on PC if certain life thresholds are hit with same carrier such as Auto Owners, Cincinnatti, or Frankenmuth to name a few. That could explain the agency loyalty to such a carrier, especially if they dont enjoy life sales, etc

 

[scagnt83]

could be some commercial carriers that have life products & the commercial PC products get discounts for having life and/or agent gets better renewals on PC if certain life thresholds are hit with same carrier such as Auto Owners, Cincinnatti, or Frankenmuth to name a few. That could explain the agency loyalty to such a carrier, especially if they dont enjoy life sales, etc

Cincinnati would be a good choice to be tied to out of those types of carriers. Nationwide wouldnt be bad either.