Are any of y'all buying this LOA stuff?

[TripleH]

LOA has it's place. No different than being an agent for NYL or State Farm.

TAG has a nice Direct Mail Lead program for their LOA agents.

TAG gives 60% to 75% of AP and advances 12 months.

TAG has nice spreads on Medicare Advantage too with volume.

TAG has Benefits for those wanting to build an Agency and be a W2 employee -or- peeps can stay 1099.

TAG does 60%-75% contract levels with a 12-month advance upfront?
Do they pall the full amount on MAPD or lower due to LOA?

Thanks for the response!

 

[myinsurebiz]

TAG does 60%-75% contract levels with a 12-month advance upfront?
Do they pall the full amount on MAPD or lower due to LOA?

Thanks for the response!

Takes a bunch of AP to get to 75% - but, possible.

Advance is 12 months.

MA's are on a grid based on hierarchy level and volume.

 

[TripleH]

Takes a bunch of AP to get to 75% - but, possible.

Advance is 12 months.

MA's are on a grid based on hierarchy level and volume.

What does an agent producing 15k a month in AP and 5 MAPDs a month usually get paid (sorry I do not have the grid) - can you please attach?

 

[Newby]

For the newer people to the industry or to this thread, an LOA is a Licensed Only Agent, this means a couple different things. They do NOT own their book of business nor their renewals and sometimes have to wait a vesting period before they even get renewals. Also have to sign a lengthy contract with a non-compete clause.

Seldom do LOA IMOs release, but I have seen it done before as long as you uphold your end of the contract and do NOT contact your clients, that you spent money on leads to acquire (either through lower comp, which means you are still paying for the leads, you just don't see it) or by physically paying yourself. You can get a release if you do not pay all your debt, but it is subjective to the IMO and the upline above you.

You do NOT own your book of business and if you leave to find a better opportunity, all the years of hard work and sweat equity you put into your business, is gone and you lose it. They own your book, you do not own your book of business or the right to contact those clients if you leave. Due to the IMO taking more risk on chargebacks, lead financing and debt roll-ups from downline agents, they will inherently pay lower comp or hold you hostage. I did see a post above by Newby that I liked, if places like this didn't exist and agents didn't get burned they would appreciate where the grass is truly greener on our side of the road.

If every IMO offered exactly the same thing then agents would just go with the one that was the prettiest.

 

[goillini52]

If every IMO offered exactly the same thing then agents would just go with the one that was the prettiest.

Do you think you're prettier than Todd?

 

[Newby]

Do you think you're prettier than Todd?

Well I wasn't going to name any names. But if this was a pretty face contest most of these guys would be better off to just shave their azz and walk backwards.

 

[WinoBlues]

For the newer people to the industry or to this thread, an LOA is a Licensed Only Agent, this means a couple different things. They do NOT own their book of business nor their renewals and sometimes have to wait a vesting period before they even get renewals. Also have to sign a lengthy contract with a non-compete clause.

Seldom do LOA IMOs release, but I have seen it done before as long as you uphold your end of the contract and do NOT contact your clients, that you spent money on leads to acquire (either through lower comp, which means you are still paying for the leads, you just don't see it) or by physically paying yourself. You can get a release if you do not pay all your debt, but it is subjective to the IMO and the upline above you.

You do NOT own your book of business and if you leave to find a better opportunity, all the years of hard work and sweat equity you put into your business, is gone and you lose it. They own your book, you do not own your book of business or the right to contact those clients if you leave. Due to the IMO taking more risk on chargebacks, lead financing and debt roll-ups from downline agents, they will inherently pay lower comp or hold you hostage. I did see a post above by Newby that I liked, if places like this didn't exist and agents didn't get burned they would appreciate where the grass is truly greener on our side of the road.

Wow!

The agent does the marketing. Does the work. Gives their money to the Pimp, err, I mean manager. Then they have to endure whatever the 'manager' does to them and can not leave and continue their trade with the same companies. I wonder if they have to get a company tattoo?

Wow!

 

[tribetime32]

Wow!

The agent does the marketing. Does the work. Gives their money to the Pimp, err, I mean manager. Then they have to endure whatever the 'manager' does to them and can not leave and continue their trade with the same companies. I wonder if they have to get a company tattoo?

Wow!

Well, they are being branded like cattle for sure! Whether or not they asked for it remains to be seen!

 

[Allen Trent]

I learned last night that even some of the most evil people in history still had admirable traits according to Bernie Sanders.

So, I think you must not be looking hard enough at this LOA IMO to find what they are good at. maybe they help rescue dogs or promote elimination of childhood obesity.

I think Bernie said Castro promoted Child literacy & he will likely soon talk of Hitlers great skills at improving the German economy, being a dog lover.

 

[theinsuranceman]

Do you think you're prettier than Todd?

Now that's just plain funny!