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- #21
Thanks for the link.I don't think you need a sponsor to sit for the life license but of course I could be wrong. Producer Types and Requirements
As a suggestion it might be a better idea to combine the Life and Accident & Sickness rather than just take the life alone. as for the contract it's kind of hard to know what to look out for without knowing how the agent contract reads. Most everyone has access to the same carriers so the devil is in the details of the contract.
As you have signed some forms be careful what you post on an open forum because you may say something that is confidential company info. which you may not know about. As you have informed someone that you post on this board, someone is watching.
The contract is basically just for a background check and agreement to conduct myself in an ethical manner, like not selling anything until I get a license. It says I'm an agent that work for them, but nothing about having to work for them exclusively.
They don't know I post here and I never even mentioned this forum to them, so no worries there.
Non-competes are illegal. That is true.
What about a non-solicit agreement? It could be a radius from your home or a period of time or both? Check for that.
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Ask them if you can contract with any insurance company who isn't affiliated with AEGON.
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Their terminology is wacked. They don't get it. They say they're "non-captive" but that just means that you can work with many carriers represented through their broker dealer.
If there's a selling agreement, you can sell it.
If there ISN'T, you won't be able to sell it.
Check on that.
You're being very specific with them... and they have no idea about this kind of stuff.
The fact that they DON'T KNOW shows you the level of "professionalism" they have.
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Keep in mind that if you contracted outside the broker/dealer, then your upline won't get paid! Do you think they want to encourage that?
No non-solicitation or anything like that. It doesn't say about any other broker/dealer or even about other business in the same line of industry. Actually, I don't think it says anything about the products, only not to sell them without a license. No dates either, so I can pretty much put it off indefinitely. Everything else is verbal, like how the reimbursement is only if I finish the licensing test within 90 days. Heck, no comission rates either, only what they told me.
In retrospect, I probably should have scanned the contract. Even if there's not much, there could be a detail I might trip over.
I doubt my aunt would be bothered too much about not getting a cut of my commissions as my upline, as my two fellow "recruits" are my uncle-in-law who has no interest in this and my 6-year-old cousin. We count towards her qualifying for the next level though. She also has many prospects in mind.