Pros and Cons of FMO's?
- Thread starter Asptins
- Start date
- 2,394
Worthless cog in the wheel of selling insurance.
Depends on your situation. Do you have direct appointments? Are you captive?
- Thread starter
- #4
Explain more in detail?
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Don't want to have production requirements and would like the services of an FMO but wanted to know what are some things FMOs don't do that would be more benifitial for agents
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Don't want to have production requirements and would like the services of an FMO but wanted to know what are some things FMOs don't do that would be more beneficial for us.
- 2,177
Last year a PDP carrier tagged me with a violation because they claimed I did an enrollment with a client in person on their consumer-facing website. They had surveyed enrollees who enrolled that way about whether the agent was present. Thinking they were referring to the med supp, which I did do in person, not the PDP, which was done by sending him a link by email, he told them I was there to help him. He misunderstood what they meant and months had passed.
I provided documentation to the carrier that I was in another state the day the enrollment was completed and gave them the copy of the email the client sent me letting me know he completed the enrollment from the link I sent him. They would not contact the member again to clarify. The violation stood and retraining was required.
I contacted my FMO with my proof and asked if there was any way I could get someone at the carrier to look at it. Their legal department got involved and within a few days I was informed the violation was removed.
All my experiences with my FMO have been great, but this one stood out. Senior Market Sales has nice incentive trips, too.
I provided documentation to the carrier that I was in another state the day the enrollment was completed and gave them the copy of the email the client sent me letting me know he completed the enrollment from the link I sent him. They would not contact the member again to clarify. The violation stood and retraining was required.
I contacted my FMO with my proof and asked if there was any way I could get someone at the carrier to look at it. Their legal department got involved and within a few days I was informed the violation was removed.
All my experiences with my FMO have been great, but this one stood out. Senior Market Sales has nice incentive trips, too.
My main FMO, premier senior marketing has some good benefits. They give you a free med supp and mapd quote in CSG. They give lead discounts on direct mail for med supps on every 5 and 10 pieces you write per month. They give trips out based on points on all the companies you write with them while at the same time you could qualify with each company. And you get to speak to someone in their office at any time during the day, no wait.
As far as I've seen, the commissions are all street as well.
As far as I've seen, the commissions are all street as well.
- 29,487
I still have my contracts scattered and some direct. I'm making Senior Market Design my main FMO. They have street contracts and they have a nice program where with every 12 issued policies through them(any combination of Med Supp/FE), you get a 1,000 piece DM drop. I've been home sick for the past week, but I just ordered my 1st batch and have had 38 comeback so far(25 with spouses). Can't wait to get out and start working them. I can see this being the only way I work from now on. Now that I'm moving my contracts to them I'll get those mail drops all the time.
They also answer the phone, have CSG for Med Supps for all states and show ALL companies so you can see what your competitions rates are. They had their own trip to Vegas last year...not sure if they've got one this year. They have a great line up of companies...a lot more than what show's on their website.
They also have an agent referral program they just started. If you mention me when you do any contracting with them, the 1st app you have issued through themI get $100 and you get $50. If you refer somebody, same thing You get $100 and they get $50. It's a one time thing with each new agent. I recommended them before they started the referral program.
Until recently I thought that FMO's were just to get a contract through and pretty much useless. Now I'm seeing how some of them can have value.
They also answer the phone, have CSG for Med Supps for all states and show ALL companies so you can see what your competitions rates are. They had their own trip to Vegas last year...not sure if they've got one this year. They have a great line up of companies...a lot more than what show's on their website.
They also have an agent referral program they just started. If you mention me when you do any contracting with them, the 1st app you have issued through themI get $100 and you get $50. If you refer somebody, same thing You get $100 and they get $50. It's a one time thing with each new agent. I recommended them before they started the referral program.
Until recently I thought that FMO's were just to get a contract through and pretty much useless. Now I'm seeing how some of them can have value.
There was a time when I would have given a glowing review of this same FMO. Unfortunately I can no longer do that. I have since moved all of my contracts away from them.
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- #9
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