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As previously mentioned, BSM= Branch Sales Manager. USM= Unit Sales Manager. I'm choosing as of now not to disclose what state I'm in (for obvious legal reasons). I stayed with them for 4 years as I was a rookie in insurance when I started with them, and they taught me what I know. Actually I learned what I now know by looking elsewhere for solid products for my clients.
As for the lawsuits, I will gladly speak about them when they are done. I think it's going to be a slam dunk win for the plaintiff.
I've been with that office long enough to see at least a hundred new agents be picked up, chewed up, and spit out; only to have a "special few" agents go replace their policies to earn new commissions. How they do that is, the life and health departments don't know what is going on between each other. When an agent quits or is terminated, certain agents will go talk their clients into canceling the policy they bought only to sell them a policy from the other dept. Ex.. Cancel life = sell health/ cancel health= sell life. They earn new commission/APC's, while the agent who left has to pay for the chargebacks.
I'm glad this site is available, as during my transition I've learned quite a bit while browsing
I was with the company 4 years, and when I resigned, got 0% of my renewal base. Yes, they keep that too. I have been threatened by "friends" that if I violate their "non compete agreement" I'll be sued. That's okay though, I built a good book with sub-par product; I know I can do it again 10 fold with better carriers.
The do not compete will not hold water if you have charge back(wink wink) you can most definitely talk to your clients. hint hint
Whether it will hold water or not doesn't prevent it from costing you thousands of dollars to defend yourself should they sue. You can win and still be on the hook for thousands.
Whether it will hold water or not doesn't prevent it from costing you thousands of dollars to defend yourself should they sue. You can win and still be on the hook for thousands.
I know an Ex BLC agent that is being sued right now for rolling her business after leaving BLC. I've heard that they are sick of this happening and are making examples of many ex agents. I don't think it would be a bad idea to keep in contact with your clients and maybe you can help them move from those junk policies 25 months from now. When you first start in the indy world the first two years is going to FLY by anyway. My guess is that you will be able to conserve around 30-40% minimum if you stay in contact.[/quote]
I would guess that would be at a minimum.
If the premiums are anything close to the Missouri premiums, could be much much higher as long as another agent hasn't beaten you to it.
Thanks for posting this OP. When I was searching for a captive to start with, my family suggested Bankers as it seems they have ads for openings at all times. Big eye opener here.