Lets Discuss what the Truth Behind a Release is Thats Been Talked About So Much

[yammy]

Yes many imo's will release you as they say but THATS CONTINGENT ON HAVING NO CURRENT DEBT WITH THAT IMO. You ask whats current debt? Well many imo's consider current debt on all that nice 9 month advancement you've received.Lets say you've piled up tons of advancement. That will take up to 9 months in many cases to clear out depending on the amount of renewals one has.So in reality an agent is still held hostage with his imo until his debt is paid off. Now are resident recruiter Newby can chime in on how fex handles releases.

 

[wingateexpress]

IMOs can transfer that liability to the new IMO.

 

[Thad.Sipple]

IMOs can transfer that liability to the new IMO.

True but certain insurance won't do that.

 

[wingateexpress]

True but certain insurance won't do that.

What kind of insurance won't do that?

 

[Newby]

Yes many imo's will release you as they say but THATS CONTINGENT ON HAVING NO CURRENT DEBT WITH THAT IMO. You ask whats current debt? Well many imo's consider current debt on all that nice 9 month advancement you've received.Lets say you've piled up tons of advancement. That will take up to 9 months in many cases to clear out depending on the amount of renewals one has.So in reality an agent is still held hostage with his imo until his debt is paid off. Now are resident recruiter Newby can chime in on how fex handles releases.

Yammy, whether or not you choose to release agents is up to you. But the ones who claim they do all do as far as my experience shows. They just sign a reciprocal release and the new IMO takes on all the debt risk.

There is only one company that will not release the 1st IMO from debt responsibility and that's Americo. So Americo releases would have to be delt with on a case by case basis. But I've never even had a problem with them.

I have never had any problem getting a prompt release from Todd or Brad and they have not had problems getting them from me. If you want to be added to that group, just make it known. If you don't, just keep hiding in the shadows and hope that your agents don't find this insurance forum.

Your sky is falling attitude is what is holding you back. Just give them competitive commissions, releases and you will sleep much better at night.

 

[Thad.Sipple]

What kind of insurance won't do that?

Haha insurance companies.

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Yammy, whether or not you choose to release agents is up to you. But the ones who claim they do all do as far as my experience shows. They just sign a reciprocal release and the new IMO takes on all the debt risk. There is only one company that will not release the 1st IMO from debt responsibility and that's Americo. So Americo releases would have to be delt with on a case by case basis. But I've never even had a problem with them. I have never had any problem getting a prompt release from Todd or Brad and they have not had problems getting them from me. If you want to be added to that group, just make it known. If you don't, just keep hiding in the shadows and hope that your agents don't find this insurance forum. Your sky is falling attitude is what is holding you back. Just give them competitive commissions, releases and you will sleep much better at night.

I agree with Newby on all point and can verify FEX will release agents also, without delays or issues.

 

[GreenSky]

I asked Scott if I contracted with him would he release me. He said he wouldn't even offer me a contract.

Problem solved.

Rick

 

[Gooner]

I asked Scott if I contracted with him would he release me. He said he wouldn't even offer me a contract.

Problem solved.

Rick

Damn, he's smarter than I gave him credit for

 

[jdeasy]

Yes many imo's will release you as they say but THATS CONTINGENT ON HAVING NO CURRENT DEBT WITH THAT IMO. You ask whats current debt? Well many imo's consider current debt on all that nice 9 month advancement you've received.Lets say you've piled up tons of advancement. That will take up to 9 months in many cases to clear out depending on the amount of renewals one has.So in reality an agent is still held hostage with his imo until his debt is paid off. Now are resident recruiter Newby can chime in on how fex handles releases.

I was released from all contracts when I left EFES. Including Americo. Of course if there is debt to the IMO it has to be settled.

But an IMO trying to keep from releasing will find all sorts of reasons to not release.

That's just the scum that they are.

 

[360]

Anyone who considers the 9 month advance a current debt is just another IMO that for the most part does not grant releases, it's just another way of saying it.