Transfer to new IMO/FMO/MA

[JoKat]

I am with FEG and want to move. I am contracted with a few providers through FEG and have no sales for a long time. Been doing other things. I am wondering if I move to another IMO/FMO/MA and today I sell a policy with FEG for a provider that FEG and the new middleman have, example AIG or F&G, how will that effect my sales with the old provider and the transfer to a new middleman's same provider? Or should I wait to sell the product FEG has and when I am contracted with another middleman start selling?

 

[Baseball7]

You get a release/transfer

 

[Newby]

I am with FEG and want to move. I am contracted with a few providers through FEG and have no sales for a long time. Been doing other things. I am wondering if I move to another IMO/FMO/MA and today I sell a policy with FEG for a provider that FEG and the new middleman have, example AIG or F&G, how will that effect my sales with the old provider and the transfer to a new middleman's same provider? Or should I wait to sell the product FEG has and when I am contracted with another middleman start selling?

You have a 6-month waiting period of no sales in order to move to a different Upline. For instance if you haven’t sold RNA for over 6-months and you want to move to a different agency just re-contract RNA at the new one no sweat. BUT if you write one last case with RNA under your old agency and then want to move, nope. You have to sit it out for 6-months.
If the older agency will sign off on a release then you can move it without going 6=months with no sale. But most agencies will not release you. So don’t do that. Just re-contracted anything else it until six months has gone by.

 

[JoKat]

Thank you and I do understand that. My question is about the carriers. If I am with FEG (Non-Captive) and I want to sell a product such as AIG that I am currently contracted with at FEG can I work with another IMO/FMO/MA and contract with AIG through them. Maybe I would have 2 writing IDs

 

[TexasLifeAgent]

Thank you and I do understand that. My question is about the carriers. If I am with FEG (Non-Captive) and I want to sell a product such as AIG that I am currently contracted with at FEG can I work with another IMO/FMO/MA and contract with AIG through them. Maybe I would have 2 writing IDs

I just asked this same question today with a phone call to AIG. They said that if I want to move IMOs, I will have to ask a release from the old IMO, and then reapply with AIG again, through the new IMO, as they only issue one active writing number per agent. So the policies we have sold while with the old IMO, we can still earn renewals from, but the new policies through the new IMO would be a new AIG writing number. AIG also said that "provided that the new agent leaving the old IMO has no debts left, or has not been terminated by the old IMO"). I think it would be best to call all the carriers that we are contracted with to know for sure what we can expect if we decide to move IMOs, and if we can still have the ability to service our clients if we move IMOs. =)

 

[goillini52]

I just asked this same question today with a phone call to AIG. They said that if I want to move IMOs, I will have to ask a release from the old IMO, and then reapply with AIG again, through the new IMO, as they only issue one active writing number per agent. So the policies we have sold while with the old IMO, we can still earn renewals from, but the new policies through the new IMO would be a new AIG writing number. AIG also said that "provided that the new agent leaving the old IMO has no debts left, or has not been terminated by the old IMO"). I think it would be best to call all the carriers that we are contracted with to know for sure what we can expect if we decide to move IMOs, and if we can still have the ability to service our clients if we move IMOs. =)

With some carriers you have to terminate you contract and THEN wait 6 months before you can recontract if the old FMO won't give you a release.

 

[TexasLifeAgent]

With some carriers you have to terminate you recontract and THEN wait 6 months before you can recontract if the old FMO won't give you a release.

Thank you. That was why I was going to call the other carriers too, because I also learned that from the very helpful posts that Members here share =) I am weighing some pros and cons of moving IMOs, or if I can just wait it out 6 months.

 

[JoKat]

Thank you for the answers. Years ago I did transfer to a MSA and had no issues.I will just wait to sell until I transfer

 

[TexasLifeAgent]

Thank you for the answers. Years ago I did transfer to a MSA and had no issues.I will just wait to sell until I transfer

You're welcome and good luck! =)

 

[JoKat]

I have a lot of potential appts set up for annuities and life and wondering if I should sell them through FEG, but I have had it with them, or wait until I have transferred to a new IMO/FMO/MA.