Get appointed with IMO or directly w/ carriers?


New Member
I left my captive position and am now going independant. I'm trying to make the next move and get appointed with companies. Should I go through IMO or just get appointed directly with each carriers? What are the pros and cons? Is it alot more convenient to go through IMO? I'm confused. I've looked at Financial Brokerage and Best already. Have any one has experience with them they would like to share? Any advice for a newly independant agent?
I think it depends on what products you're looking for.

I'm not familiar with the ones you listed, but I've gotten all of my Final Expense Life contracts through an IMO and have been very successful with getting good contracts without any serious production requirements.
Thats exactly what I was saying. If you do in fact use an imo, you can get good contracts, with many carriers. If you go it alone, and produce enough, you can get higher contracts, but you will have less flexibility because you need to hit your quota.
Those imo's are for standard brokerage life fare, not final expense.
Thanks for the links melmunch3. I will look into them soon. Today, I've contacted Financial Brokerage for info. Their first year comm. is normal (70-100% depending on plan), but their renewals seems unreasonable IMO. NO renewals for any term plans, and the UL's are 2.5%. Is that normal? I was getting 6-8% renewals at my last agency for both term and perm. Also, does life renewals generally ends after a certain period or is it lifetime? Thanks...
Life renewls are always low, if they exist at all, with brokered carriers. If you are captive with met or nyl, or one of the mutuals, you will get very low first year comp, and decent renewals. With brokerage carriers, they give you a big bump on first year, and take it away from the later years. 70% seems low, even for a 10 year term, but you wouldn't do much better renewalwise even if you went direct to the company.
Just to add to what Mel mentioned- companies know that many policies lapse.

As such giving you the low first year comp and higher renewal comp it serves for following points -

The company earn mores premium if the policy does lapse.

Two, it makes the sales person stay on the policy holder to keep policy inforce.

Keeps agent captive as once you build a large book it makes walking away that much tuffer.

Not like P&C where you can just ask client to move biz. Clients may not want to go through or simply can't pass underwriting at same rate/table down the line.

I started a thread on the agent forum asking for agents to post their IMO as to develop a list with reviews to assist new folks or captive agents like our selves. I presently work for a captive commercial P&C company and ramping up to go indy after first of year.

The two that Mel listed have good reps and presently looking into both.

Capitas has a GA here in MI not far from me, going to stop in chat in the next week or so. I'll post back on how it go's.

Good luck and let us know how it turns out.
Just spoke to a GA from Capitas. Everything sounds good, but what I am not excited about is that I would not be able to generate quotes myself. They provide no quoting software and can't quote online. So if i need a quote for a prospect, I must call in their office which to me sounds inconvenient. Too much back and forth steps to simply get a quote IMO. That would make me feel too much like a middleman rather than an agent. What if I need a quote after hours? I am gonna speak to LifePro later and see how it goes...Hopefully I can find my home soon.
Hmmm, have to look into that. I just assumed that those features would be in place. Again they have a GA in my area so was just going to stop by for a tour and a meet/greet session.

LifePro looks good to and waiting on call back with answers to a few questions.
Hello i am a new life and health agent. I have worked for a company for two months. It was a medicare advantage plan. I had problems with this company the short time i was there. Well i am trying to figure out what company would be a good fit. Not sure if i want to go captive, independent, or what. I have been thinking about doing telesales, MGA. I do not know what to do i just need help. The last company i was with took advantage of the fact that i was new. I do not want that to happen again. If anyone can give some advice that would be great. Thanks