Great American Senior Benefits

[Newby]

As far as ASB, how does commission work when you leave if you're there for less than 2 years. I have an agent who left after 3 months and said she was not paid on pending business. Are they able to do that. I know you do not get residuals if you're not vested but are they able to keep your commission on pending business as well?

Most likely they would put it into an account that will be used to pay any chargebacks you get over the next 12 months. You"ll never see it because the new agents will rework your book and cause you to have chargebacks.

That's generally how most captive agencies work.

 

[KarenW]

Actually I just left there myself. The two year period is for vesting. After being with them for two years you are vested retroactively and have a two year year no compete. As far as holding commissions, per agent contract she signed and should have kept a copy for herself, they reserve the right withhold any pending commissions for a period of up to 60 days. RNA, Loyal American Med sups , GAFRI and Americo annuities are the only carriers they have that still pay direct, all others ASB recieves and pays the agent through what they call the ONECHECK system.

 

[Newby]

Actually I just left there myself. The two year period is for vesting. After being with them for two years you are vested retroactively and have a two year year no compete. As far as holding commissions, per agent contract she signed and should have kept a copy for herself, they reserve the right withhold any pending commissions for a period of up to 60 days. RNA, Loyal American Med sups , GAFRI and Americo annuities are the only carriers they have that still pay direct, all others ASB recieves and pays the agent through what they call the ONECHECK system.

What was your reason for leaving?

 

[KarenW]

Long story short version ..... contract changes from when it was GASB to ASB, not interested in assigning commissions nor being a captive agent (even though they call it a "hybrid" ... I figure if it walks like a duck and quacks like a duck its a duck), the haircut you take on commissions (went through 6 commission cuts in a matter of apprx 1 year in different carriers and products), little to no back office support, do you want me to go on?
Actually, for brand new agents its not too bad if you need to be taught. I would say even in that case after two years and you get vested I would begin to look at getting out ,just not really geared in my opinion for veteran agents that need to get it to the next level.

 

[Chazm]

Long story short version ..... contract changes from when it was GASB to ASB, not interested in assigning commissions nor being a captive agent (even though they call it a "hybrid" ... I figure if it walks like a duck and quacks like a duck its a duck), the haircut you take on commissions (went through 6 commission cuts in a matter of apprx 1 year in different carriers and products), little to no back office support, do you want me to go on?
Actually, for brand new agents its not too bad if you need to be taught. I would say even in that case after two years and you get vested I would begin to look at getting out ,just not really geared in my opinion for veteran agents that need to get it to the next level.

I worked for GASB from Jan 09 to March '10. Did they all change to just ASB?

BTW, I'm so glad I left there and went independent. Best move I ever made....and the 3 guys that left with me

 

[KarenW]

From the way I understand it ASB bought out a portion of GASBs book and spun it to ASB in an "effort to bring more carriers to the table so we wouldnt be pushed into offereing only Linder owned products" hence the "hybrid" , youre independant and can contract with whomever you chose however the catch is if they have that product line you have to put it with their endorsed carrier. But I think GASB is still around because on every release I am currently receiving GASBs on the heirarchy. I agree with you its only been since Dec.1 and it is the BEST move I could have ever made.

 

[inspro]

Unless you need training I would reccomend going straight independent which GASB and ASB are not. If you work for them you take a haircut on your commissions, and and your paycheck mostly goes through them which can put your commissions in jeopardy if you leave or are terminated. Also if you do go with them and leave them they do not have to give you releases which can put you out of business with carriers for 6 months to a year. If you need assistance in how to get contracted as an independent just ask here.

 

[Chazm]

^i don't ever really regret working for them. I just wished I left sooner. If I started directly independent, I might not still be in the business.

The guy who trained me, a guy named Bill a regular agent, was awesome. He really helped me out and when I left, I told him how much more money he can make and he left with me!

The training I received from GASB (really just Bill) was invaluable. And it's the reason I'm still in the business, and biz is booming

 

[KarenW]

Chasm I agree. I know inspro from the branch in Pompano Beach Fla and theres some serious sour grapes there. (InsPro you can PM me if youd like.) They really do offer a decent startup situation for new agents as my post stated previously. I just would not recommend staying long term unless you have a desire to become mgt and build the staff to train others and take their commissions.Their RSM package is pretty decent ( Pretty much the same level of comp as Im getting as INDE but like 3 bonuses for marketing/leads, office exp & and a 4% bonus thats just theirs) but like I said I have no interest in being a "hybrid" (captive). In return the agent force just dosent get any perks except for convention. I just found it wasnt in my best interest to stay.

 

[myway]

there now....do not see long term...what is rsm package?...do not like them trying to get me to run commissions through rsm llc?