Information About Releases

[SalesPro2000]

Hi everyone! I haven't seen any threads on releases and thought it might answer a lot of questions that have been talked around. Does anyone have any information on what agency releases look like and what they need on them. E.G. UHC, Foresters etc. I was told a release from an agency consisted of a signed piece of paper with a one sentence structure stating so and so is okay to be released as of so and so date. Is this correct? Does this agency release also release them from their FMO etc.? What is the process of all this? Thanks!!

 

[magagent]

Yes, a release should only be a couple of sentences not a 40 page documentary.. You ALWAYS get a release in writing before signing any contract. However this works both ways, do not expect a release if you have a debit balance... nor should you be granted one in that situation.

Hi everyone! I haven't seen any threads on releases and thought it might answer a lot of questions that have been talked around. Does anyone have any information on what agency releases look like and what they need on them. E.G. UHC, Foresters etc. I was told a release from an agency consisted of a signed piece of paper with a one sentence structure stating so and so is okay to be released as of so and so date. Is this correct? Does this agency release also release them from their FMO etc.? What is the process of all this? Thanks!!

 

[Todd King]

A release could either be a short sentence or several. Reciprocal releases are usually more than just a couple of sentences though and they are designed to protect the agent just in case they are jumping into the fire, so-to-speak.

You can get and agreement to release when you contract, but that is just what it is, an agreement to release. It's not the release itself. Sort of like a pre-agreement to release, I suppose.

 

[retread]

A release could either be a short sentence or several. Reciprocal releases are usually more than just a couple of sentences though and they are designed to protect the agent just in case they are jumping into the fire, so-to-speak.

You can get and agreement to release when you contract, but that is just what it is, an agreement to release. It's not the release itself. Sort of like a pre-agreement to release, I suppose.

Let me describe why: When I first started in 2007, I was snookered into a contract agreement with a carrier through an FMO I later wanted to dump. I was told all I needed was a statement of release and the upline signatures. I got the GA to sign off on it, but the FMO countered with an offer of better commission if I would stay. I really wanted out bad and turned down the offer, to which the FMO retaliated by sitting on the paperwork. It took 6 months of letters, phone calls, and intervention by some other FMOs to get this guy to sign the letter of release. By this time, the carrier said I had completed the required "no-sales" period and was allowed to re-contract, which I did direct.

The point being that if you don't get that letter upfront, any attempt at a release later is subject to the ethics of the FMO who holds the contract.