Moving and Going Independent. Please Help!

I have been with a captive agency (Bankers Life) working with MA, Medigap, LTC, Life and fixed annuities. I've done well, but am tired of being beat out by others who simply have better products in my area. I'm relocating for non-work related reasons to Pennsylvania and considering going independent. I have an established broker/financial planner who wants me to expand/take over the insurance branch of his business. He is recommending TNBC as the MGA for Life, LTC, & Disability. I am primarily interested in Health though. I have lots of questions.

Is this a good idea?
Are there MGA's/FMO's I can contract with to do health or do I have to contract directly with the companies?
Is it possible to contract directly with the major health ins providers, UHC/BC/Aetna/Humana?
If there are MGA's that do health, which one's are good?
I know I want to concentrate on a few products, but is it possible to contract with multipule MGA's?
If so, what happens if both represent the same company?
If I leave an MGA/FMO, I've heard there is a waiting period imposed by certain companies before I can sell their products through a different MGA/FMO. How does that work?

Any advice/answers would be greatly appreciated! Thanks in advance!
 
I have been with a captive agency (Bankers Life) working with MA, Medigap, LTC, Life and fixed annuities. I've done well, but am tired of being beat out by others who simply have better products in my area. I'm relocating for non-work related reasons to Pennsylvania and considering going independent. I have an established broker/financial planner who wants me to expand/take over the insurance branch of his business. He is recommending TNBC as the MGA for Life, LTC, & Disability. I am primarily interested in Health though. I have lots of questions.

Is this a good idea?
Are there MGA's/FMO's I can contract with to do health or do I have to contract directly with the companies?
Is it possible to contract directly with the major health ins providers, UHC/BC/Aetna/Humana?
If there are MGA's that do health, which one's are good?
I know I want to concentrate on a few products, but is it possible to contract with multipule MGA's?
If so, what happens if both represent the same company?
If I leave an MGA/FMO, I've heard there is a waiting period imposed by certain companies before I can sell their products through a different MGA/FMO. How does that work?

Any advice/answers would be greatly appreciated! Thanks in advance!

I use to work with Bankers Life. Proceed with caution!!!!!

I too was a big producer for them and there a great deal of problems when tyring to leave this company.

First things first; When was the last time you signed one of their nomoreforms contracts?

Secondly; How long have you worked at your current office?
 
I use to work with Bankers Life. Proceed with caution!!!!!

I too was a big producer for them and there a great deal of problems when tyring to leave this company.

First things first; When was the last time you signed one of their nomoreforms contracts?

Secondly; How long have you worked at your current office?
William,

It hasn't been that long ago, but I worked for Bankers in FL. I've never written business for them in PA. The FL Dpt of Ins, told me once I move my resident license to PA my relationship with them is terminated, I'm assuming the non-compete won't be a problem because I'll be in a new area with all new clients. Reasons for being worried about the transition from Bankers though? I've also tossed around staying with them and since I'm at an easy breaking point anyway, I'm trying to learn all I can
 
William,

It hasn't been that long ago, but I worked for Bankers in FL. I've never written business for them in PA. The FL Dpt of Ins, told me once I move my resident license to PA my relationship with them is terminated, I'm assuming the non-compete won't be a problem because I'll be in a new area with all new clients. Reasons for being worried about the transition from Bankers though? I've also tossed around staying with them and since I'm at an easy breaking point anyway, I'm trying to learn all I can


I was a PHC elite member with Bankers Life. With that being said I had to make at least 150,000 APC's or $250,000 in comm to reach that point. when I left or, emanciapated myself, I too thought it would be a clean break, Boy, was I wrong.

So that I may be thorough in the info I give I need to ask a couple of questions:

1. How long exactly were you at bankers?

2. Who is your BSM?
 
William,

I've been w/Bankers about a year. Because I'm still in the process I'd prefer not to give too many details on the office I'm coming from unless necessary. Not trying to be difficult, but not sure if that would be wise to post on a public forum.
 
William,

I've been w/Bankers about a year. Because I'm still in the process I'd prefer not to give too many details on the office I'm coming from unless necessary. Not trying to be difficult, but not sure if that would be wise to post on a public forum.


I do not think that most Bankers Scum bags are intelligent enough to log into a computer; much less register with a forum of this magnitude and understand how to type.

With that being said make sure that you have not signed any nomoreforms contracts. I would also suggest typing up some type of exit contract stating that you have left everything with them and that they are not seeking anything else from you. I would suggest trying to get this signed by your BSM, or at the very least your USM.

When I left they stated that I took their software programs, and leads and that they were seeking an injunction against me to get these things back.

Any person who has left Bankers knows that their software and the ability to run their illustrations leaves a great deal to be desired. In the end it cost me almost 10K in attorney fees and two trips to Chicago to sort this whole thing out.

Bankers Life is the only semi-legal ponzi scheme I have ever found.
 
William,

I appreciate your input. I will take the precautions you suggest as I make my transition. In the meantime, I joined the forum in hopes that experienced agents might provide valuable insight into how to accomplish my goals. If possible, I would appreciate information that might allow me to move forward, instead of further criticism of a company I am trying to leave. Thanks in advance
 
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William,

I appreciate your input. I will take the precautions you suggest as I make my transition. In the meantime, I joined the forum in hopes that experienced agents might provide valuable insight into how to accomplish my goals. If possible, I would appreciate information that might allow me to move forward, instead of further criticism of a company I am trying to leave. Thanks in advance


What part of Pennsylvania? I know some good people in the business in Philadelphia, that I have known for awhile.

what are you looking for:

Office?

Back office support?

Leads?

Captive/Indy?

Let me know if you want their phone numbers.
 
William,

I appreciate your input. I will take the precautions you suggest as I make my transition. In the meantime, I joined the forum in hopes that experienced agents might provide valuable insight into how to accomplish my goals. If possible, I would appreciate information that might allow me to move forward, instead of further criticism of a company I am trying to leave. Thanks in advance


I don't have a dog in this fight, but in fairness to the gentleman who gave you advice about Bankers, I think he was very much giving you information "that might allow you to move forward." This isnt to say that your point isnt valid too.

Winter
 
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