STAY AWAY from Equitable!
They have the following clause in their contract "In the event the renewal-service commission compensation payable to General Agent falls below $300 for any six consecutive month period, it will be the option of the Company, in its sole discretion, to make renewal-service commission compensation NONPAYABLE to the General Agent”.
In other words, having 2-3 clients will not protect you. Not only will they terminate your contract (and I’ll understand it), they will also STEAL your commissions.
I was a victim of that rule. I think it is plainly illegal, but don’t have a time fight for it. To the best of my knowledge, Equitable is the ONLY company in the Medicare Supplement business who does it. Make your own conclusions…
They have the following clause in their contract "In the event the renewal-service commission compensation payable to General Agent falls below $300 for any six consecutive month period, it will be the option of the Company, in its sole discretion, to make renewal-service commission compensation NONPAYABLE to the General Agent”.
In other words, having 2-3 clients will not protect you. Not only will they terminate your contract (and I’ll understand it), they will also STEAL your commissions.
I was a victim of that rule. I think it is plainly illegal, but don’t have a time fight for it. To the best of my knowledge, Equitable is the ONLY company in the Medicare Supplement business who does it. Make your own conclusions…