I'm fairly new to the FE business so I'm wondering if any of you more tenured agents have ever seen contract terms like this...
1.) 100% 6 month chargeback
According to the contract if a policy lapses within the 1st 6 months the company charges back the FULL commission that you were paid. Literally, a client could've paid 5 months worth of premium but the company will charge the agent back a full 6 months! The company charges agents back money that has already been paid by the client...is that even legal?
2.) Lost renewals for low persistency
If an agents persistence for any par
Source of insurance-forums.net
1.) 100% 6 month chargeback
According to the contract if a policy lapses within the 1st 6 months the company charges back the FULL commission that you were paid. Literally, a client could've paid 5 months worth of premium but the company will charge the agent back a full 6 months! The company charges agents back money that has already been paid by the client...is that even legal?
2.) Lost renewals for low persistency
If an agents persistence for any par
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