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Reply to Captive Agent  and Contract Issues     
Old 09-09-2017, 09:46 AM   #11
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Captive Agent  and Contract Issues Re: Captive Agent and Contract Issues
In my experience a Captive agent is a statutory employee relationship with an independent contractor agreement. This means you file a W-2 as Statutory. Usually a captive agent will have employee benefits like an employee (Health insurance, 401k, dental, vision and so on) and will receive the employer match of social security and medicare taxes. BUT as Statutory you may file a Schedule C Business Owner Tax return at the same time so you get to kind of "ride the fence" between employee and independent contractor.

THIS is why a Captive company needs you to produce - they are paying loads o money out on its agents in the form of Health care benefits, training, subsidized technology costs and so on.

One major league insurance company I worked for was captive and had $36,000 minimum Annualized First Year Commission requirements. Benefits were good.

The Fraternal I work for has minimum annualized commission requirements at about $18000 per year and the benefits are even better.
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Old 09-09-2017, 09:56 AM   #12
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adjusterjack on Captive Agent  and Contract Issues
 
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Captive Agent  and Contract Issues Re: Captive Agent and Contract Issues
Originally Posted by isitlife View Post

THIS is why a Captive company needs you to produce - they are paying loads o money out on its agents in the form of Health care benefits, training, subsidized technology costs and so on.
Apparently, in the OP's case, they aren't. And with the amount of control being exerted one might conclude that he is being illegally misclassified as an independent contractor.

However, I agree with the suggestions that he dump that carrier and move on.
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Old 09-09-2017, 11:02 AM   #13
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Captive Agent  and Contract Issues Re: Captive Agent and Contract Issues
Originally Posted by adjusterjack View Post
Apparently, in the OP's case, they aren't. And with the amount of control being exerted one might conclude that he is being illegally misclassified as an independent contractor.

However, I agree with the suggestions that he dump that carrier and move on.
Considering this was originally posted 7 years ago, I'm sure he has or has made peace with the situation.

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You can pay the premium or you can own the loss.
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Old 09-09-2017, 01:20 PM   #14
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Captive Agent  and Contract Issues Re: Captive Agent and Contract Issues
Volagent

There must be a contest going on for answering old threads on this board.

I am going to answer best polaroid camera for insurance agents thread next.
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Old 09-09-2017, 01:55 PM   #15
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Captive Agent  and Contract Issues Re: Captive Agent and Contract Issues
35mm film beats 70mm film every day of the week. lol
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