| Do not believe for a second that life insurance | | | | reminded of your lengthy contract you have not |
| companies have a halo above. To the contrary life | | | | read in years, if ever. The life Insurance |
| insurance companies deprive an agent of income | | | | companies contracts with you state that renewals |
| earned. Discover the 4 ways insurance agent | | | | terminate if you leave the insuer. Your former life |
| income is fleeced by the companies. Do you | | | | company grins and takes every dime of your |
| honestly believe that you represent only one of | | | | renewals you were counting on for income. |
| the best insurance companies in the United | | | | The New Rate Plot |
| States? Then you have not witnessed how agent | | | | This rate (or rat) plot had to have been designed |
| income disappears. | | | | by a master of illusions, or a team of them. |
| The United States is the land of opportunity. This | | | | Purposely cruel to agents it happens when ABC |
| is especially true for annuity, health, and life | | | | insurance company, buys out all current business |
| insurance companies. You have heard lots about | | | | of DEF insurance company. ABC insurance has |
| petroleum companies draining their customers' | | | | two intentions in mind. One is to start the |
| wallets at the gas pump. Life insurance Companies | | | | stoppage of paying agents their renewal |
| leave the source of pumping customers alone. | | | | premiums, and the other is to raise rates on |
| Instead, their dirty deeds done dirt-cheap are | | | | people having coverage. Agents are notified that |
| reserved for their own insurance agent | | | | the new company is cancelling their insurance |
| representatives who are finding more and more | | | | representative contract and not writing this kind |
| new customers for them. | | | | of insurance anymore. |
| Some insurance company plots are very well | | | | Imagine if this insurer accounted for 80% of your |
| know . Yet some are planned out to happen at | | | | income. Overnight you would have to start Plan B. |
| lightning speed so that you do not know what hit | | | | However, you never had a Plan B. You have been |
| you. This article exposes some common | | | | poisoned by the new company rats. |
| misdeeds along with ones so rotten they make | | | | The Guillotine Plot |
| dirty diapers smell like they came from heaven. | | | | Agent marketing recruiters spend years and vast |
| The Premium Plot | | | | amounts of money finding other agents to at |
| Hundreds of thousands of new insurance trainees | | | | least occasionally sell their company products. The |
| will be hired this year. Sure, life insurance | | | | recruiter commonly has a contract entitled MGA, |
| companies appear initially glad to have you aboard. | | | | Managing General Agent. He provides the |
| They will help train you. Training (in reality) means | | | | insurance writing agent with a GA, general agent, |
| assisting in milking as many of your family | | | | or broker contract. The insurance company may |
| members, relatives, neighbors, friends, and casual | | | | pay the MGA 95% commission on the policy |
| contacts until this source dries up. At every | | | | money collected. In turn, he might pay a GA 75% |
| meeting, you will be asked how much new money | | | | on the policy money the general agent collects. |
| you just collected. You quickly realize that selling | | | | The broker could be paid 65%. |
| relatives can be high pressure. Finding a new | | | | The marketing MGA makes his money on |
| prospect is about as difficult as sitting in the | | | | overrides. He is rewarded 20% of a general agent |
| dentist chair, as your dentist whistles while drilling | | | | and 30% on a broker. If there are enough |
| your teeth. | | | | producers writing business for him. The MGA has |
| Well over 250,000 newer insurance trainees that | | | | the opportunity to build a very respectable |
| fall by the wayside this year will fall into the | | | | income from his recruiting. This lures too many |
| insurance agent income premium plot. The minute | | | | new MGA's to try it. That is why at any time |
| they leave, the life insurance companies lay claim | | | | there is an over abundance over 15,000 recruiters |
| to all policy owners,. They directly collect their first | | | | of insurance product marketers of all types in the |
| year premiums and all the money each year they | | | | United States. |
| renew. This could be called reverse lottery | | | | The life insurance companies decide to get richer |
| profitable. If the agency has only 10 dropouts that | | | | off all the hundreds of thousands of insurance |
| could mean an easy profit of $500,000 over the | | | | policies payments to producers the easiest and |
| next few years. You went into reverse, because | | | | nastiest way possible. The guillotine plot is put into |
| you had to borrow money to pay expenses the | | | | action. The Managing General Agents, and General |
| company never reimbursed you for. | | | | Agents are all sent the same head chopping letter. |
| The Handcuff Plot | | | | The insurance company has "decided" to have |
| Numerous career life insurance companies have | | | | one contract level only, that of a broker. This is |
| money fleecing contracts, like yours may have. | | | | not redistribution of wealth. It is talking all the |
| Their contract contains a hidden pitch fork | | | | excess wealth and distributing it directly back to |
| awaiting you. Over a course of several years, if | | | | the already wealthy life insurer. |
| you have written a fair amount of policies, you will | | | | These are just four of the plots, that are used. |
| be collecting renewal money. These agent money | | | | Myself, I have been victimized by every single |
| renewals start after the insurance policy | | | | one of them and more. The only prevention pill is |
| payments begin a new year. The amount of | | | | to have company number 2 already set up at |
| renewals could accumulate over time to be in the | | | | slow cruise. This way Plan B could kick into action |
| thousands. So this provision does not sound like | | | | before the lack of insurance agent income knocks |
| the work of the devil. | | | | you out of your career. |
| However suddenly you see a much more | | | | The life insurance companies have plenty of |
| lucrative opportunity that matches your abilities. | | | | anti-agent rotten time-bomb eggs at their disposal. |
| As soon as you make the switch over, the | | | | To many of them it is all about money, your |
| pitchfork jabs you in the pocketbook. It is a | | | | insurance agent income. |
| bloody, unfair, and one-sided mess. You are then | | | | |