Insurance Agent Forum

[ProsperSBC]

I am contimplating going independent from my captive company Guardian and was wondering what the immediate effects would be. Currently, I make 600 per month in renewals and 65 % on whole life products and 50 % on term products. Would I get to keep my renewals from my captive company if I continue to broker with them? Also what percentage of payouts can I expect to be independent with both product types. Will I get renewals in a brokerage agreement? Can I change the broker dealer on all my securities business and keep receiving the trails? Any other info you guys who have been through would greatly help.
Thanks in advance.

[Houston1969]

Where are you located?...I have access to many carriers and can offer you a good contract.

Take Care,

Brett Anderson
The Affordable Life and Health Insurance Company

[insuranceexec]

Originally Posted by ProsperSBC

I am contimplating going independent from my captive company Guardian and was wondering what the immediate effects would be. Currently, I make 600 per month in renewals and 65 % on whole life products and 50 % on term products. Would I get to keep my renewals from my captive company if I continue to broker with them? Also what percentage of payouts can I expect to be independent with both product types. Will I get renewals in a brokerage agreement? Can I change the broker dealer on all my securities business and keep receiving the trails? Any other info you guys who have been through would greatly help.
Thanks in advance.

Check your contract to see when your renewals are VESTED.

ON the independent side renewals are vested day one @ 100%. Providing that you remain in good standing with the company.

Depends on whether your broker dealer will allow you to keep and manage your aum. I doubt this considering you are currently with Guardian; but you never know. Give me a call if you would like and I can walk you through this.

[Frank Stastny]

Originally Posted by insuranceexec

Check your contract to see when your renewals are VESTED.

ON the independent side renewals are vested day one @ 100%. Providing that you remain in good standing with the company.

Depends on whether your broker dealer will allow you to keep and manage your aum. I doubt this considering you are currently with Guardian; but you never know. Give me a call if you would like and I can walk you through this.

That is good advice, however, he needs to ask those questions of his broker, not us. As we all know, they can pretty well do what ever they want whether or not it is in a contract. Contracts are written for "their" benefit, not the agents.

As you pointed out, unless it is clearly spelled out in his contract that he is fully vested after x number of years it is very doubtful that he will get to keep anything.

He should consider himself lucky if he gets out of there with his ass fully intact.

[gzpxyj]

Originally Posted by ProsperSBC

I am contimplating going independent from my captive company Guardian and was wondering what the immediate effects would be. Currently, I make 600 per month in renewals and 65 % on whole life products and 50 % on term products. Would I get to keep my renewals from my captive company if I continue to broker with them? Also what percentage of payouts can I expect to be independent with both product types. Will I get renewals in a brokerage agreement? Can I change the broker dealer on all my securities business and keep receiving the trails? Any other info you guys who have been through would greatly help.
Thanks in advance.

Most likely your broker will not allow you to bring your book of business with you. You will lose your renewal. Check out your contract which should spell out on this. Most captive agencies will have non-compete clause so you may not call your captive agency clients for 1 or 2 years unless your client calls you.
Depending on your negotiation with new broker and your previous production, you would be getting commisson most likely higher for the independent agency.

[insuranceexec]

Originally Posted by Frank Stastny

That is good advice, however, he needs to ask those questions of his broker, not us. As we all know, they can pretty well do what ever they want whether or not it is in a contract. Contracts are written for "their" benefit, not the agents.

As you pointed out, unless it is clearly spelled out in his contract that he is fully vested after x number of years it is very doubtful that he will get to keep anything.

He should consider himself lucky if he gets out of there with his ass fully intact.

I agree completely. Read, Read and then Read some more; the best advice I can give.

</IMG>

[IvyLane]

I am new to this forum and have this same question. I have recently signed up for prelicensing and am looking for a great place to hang my hat. Any suggestions? The current offer I have does not offer a lucrative commission plan so I want to weigh my options. Thanks

[firegirl]

I am also looking at possible leaving Guardian as a Field Rep...would love to visit with you.

[TRK3031962]

Originally Posted by IvyLane

I am new to this forum and have this same question. I have recently signed up for prelicensing and am looking for a great place to hang my hat. Any suggestions? The current offer I have does not offer a lucrative commission plan so I want to weigh my options. Thanks

Originally Posted by firegirl

I am also looking at possible leaving Guardian as a Field Rep...would love to visit with you.

Contact InsuranceExec. If he can't help you (which I'm sure he can) then he will point you in a good direction.