Is an IMO common practice terminating carrier contracts to keep residual income

If you did not assign your commissions then you don’t have anything to worry about. If the insurance company pays you directly they’re gonna keep paying you everything they owe you.

Yes that’s a fairly common practice though but only for agents that have assigned their commissions to the up line and are paid from the up line. That’s the number one reason why some IMOs want you to assign the commissions. So they have complete control over you and anytime they have a problem with you they can take everything you can’t do anything about it.


It’s funny you say that . Your telling me if Lincoln Heritage is pissed at me and terms me for cause it’s reported to the insurance dept ? I think that’s false 100% . Unless the company turns me in for fraud and the ins dept investigates and determines I did and sanctions me . When a company asks that questions when you contract and you say no the company has no way to know .Any bs company could term you for cause right be vindictive. I think terming for cause is an internal company affair . If I’m incorrect please refer me to a case I can see.
 
It’s funny you say that . Your telling me if Lincoln Heritage is pissed at me and terms me for cause it’s reported to the insurance dept ? I think that’s false 100% . Unless the company turns me in for fraud and the ins dept investigates and determines I did and sanctions me . When a company asks that questions when you contract and you say no the company has no way to know .Any bs company could term you for cause right be vindictive. I think terming for cause is an internal company affair . If I’m incorrect please refer me to a case I can see.
I don’t know all the answers to your questions. But you are asked on every company you contract with if you have ever been termed for cause. So your solution is to just lie about that and it solves the problem?

I would get an attorney. I would fight it.
 
It’s funny you say that . Your telling me if Lincoln Heritage is pissed at me and terms me for cause it’s reported to the insurance dept ? I think that’s false 100% . Unless the company turns me in for fraud and the ins dept investigates and determines I did and sanctions me . When a company asks that questions when you contract and you say no the company has no way to know .Any bs company could term you for cause right be vindictive. I think terming for cause is an internal company affair . If I’m incorrect please refer me to a case I can see.


Wow

Dont you sell tons of MA?

I would be sure you were familiar

I mean there are 100'sof times it comes up in annual trainings Both Ahip and each individual company

all the rules for everything from customer contact. ,misrepresentation event rules

Term for cause would have to do with some actual cause and yes it would be the carriers responsibility to contact CMS and sate and vice versa

For cause would have to be one of these things not being late or poor production

And yes you will be asked on every application for carrier and some will do annual reviews UHC does
 
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Wow

Dont you sell tons of MA?

I would be sure you were familiar

I mean there are 100'sof times it comes up in annual trainings Both Ahip and each individual company

all the rules for everything from customer contact. ,misrepresentation event rules

Term for cause would have to do with some actual cause and yes it would be the carriers responsibility to contact CMS and sate and vice versa

For cause would have to be one of these things not being late or poor production

And yes you will be asked on every application for carrier and some will do annual reviews UHC does


I’m not talking about being termed for doing something bad like theft . You don’t think Lincoln or senior life has termed many an agent for cause due to being vindictive? For instance when agents try to leave I’ve heard they term them for cause owing debt . That debt is bogus as it’s advanced and not yet recouped or lead debt . So hell yes I’d put not on a contract for that .
 
I’m not talking about being termed for doing something bad like theft . You don’t think Lincoln or senior life has termed many an agent for cause due to being vindictive? For instance when agents try to leave I’ve heard they term them for cause owing debt . That debt is bogus as it’s advanced and not yet recouped or lead debt . So hell yes I’d put not on a contract for that .
A they have to do is claim you attempted to get another agent leave with and that would be for cause.
 
It’s funny you say that . Your telling me if Lincoln Heritage is pissed at me and terms me for cause it’s reported to the insurance dept ? I think that’s false 100% . Unless the company turns me in for fraud and the ins dept investigates and determines I did and sanctions me . When a company asks that questions when you contract and you say no the company has no way to know .Any bs company could term you for cause right be vindictive. I think terming for cause is an internal company affair . If I’m incorrect please refer me to a case I can see.

I agree with you 100%. A buddy of mine worked at a large insurer and was merely accused by his closet case Director of accepting leads from a relative who worked in another department and was terminated For Cause. He was not reported to his State and went on to work for other companies.
 
I agree with you 100%. A buddy of mine worked at a large insurer and was merely accused by his closet case Director of accepting leads from a relative who worked in another department and was terminated For Cause. He was not reported to his State and went on to work for other companies.


I think there is a term for cause meaning a violation with medicare rules

which is different then an internal term for a cause that is just within that buis
 
A couple of thoughts on this:
  • In my experience, the writing Agent retains renewals in spite of the contract termination as long as they had a direct pay contract with the carrier, were not terminated for cause, and - if an MA carrier - they recontract and continue to certify
  • Terminations for cause are RARE, and usually there has to be an investigation that includes the carrier speaking to the agent, asking for a written statement from them, etc. I have not seen carrier terminate an Agent for cause simply on the request or allegation of a distributor.
 
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