The Hard Truth About Captive Agents
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- čas přidán 20. 12. 2022
- **DISCLAIMER: THIS IS NOT LEGAL ADVICE. USE AT YOUR OWN RISK AND DISCRETION. THIS VIDEO INCLUDES CALIFORNIA INFORMATION ONLY.
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I'm experiencing it now and it does suck. With the big companies you will never own your book of business.
Great content Sir!
Just a quick question from someone who isn't in the industry. Why will a customer choose your company instead of working straight with the insurance company?
This is so true and you can't plan on the acquisition of an insurance carrier by something like a hedge fund and that hedge fund may decide it's time to milk an acquisition for everything it's worth. I'm an independent adjuster. I work for "the insurance companies" but as a contractor. No one carrier owns me. It's for the same reason. Better money and I can fire a carrier if I decide that I no longer want to work with them.
Another sad reality is the carriers trap captive agents into "loans" for setting up the office, so these captive agents are STUCK in that role until they pay off the loan. You're 2 levels of screwed.
@@floridadad2817 I never actually thought about that. Any debt you take on is a level of responsibility and layer of commitment. Definitely makes it harder to leave. Great insight man, thank you!
🤣🤣🤣🤣🤣🤣🤣🤣🤣 I LOVE HOW YOU BROKE THIS DOWN. YOU HIT EVERY PRESSURE POINT ON CAPTIVE AGENTS NERVES. ITS TRUE. GREAT VIDEO!!!!
😂 thank you!!
Thanks for the insight man. Looked for a video like this last year when I was looking for an insurance internship. I went with an Allstate and by the end of it, I realized that I need to be independent. Now I’m trying to figure out what products I want to sell.
Indie is awesome man. A lot more work to get it off the ground but once you do it feels great
Fully agree with your points. The tech agency i was with went back to office FARRR from where I live so I got P& C licensed this year. Im at my THIRD Agency now… Captive agencies do NOT seem to be professional in many ways and im HARDLY being trained. I would like to be independent in time.
I was captive with Farm Bureau for 12 years and can’t agree more.
I'm glad the title of "captive" agents is used more often than the synonymous title of "career" agent. The word "captive" is pretty self explanatory. Alrhough it may be the better route for specific individuals, there are strings and regulations attached. Thank you for this video, man
Of course. Just trying to put out raw info. Hopefully this helped 👍
@Chris The Insurance Guy it absolutely did help. Your channel is awesome
I've been thinking of going captive first since I don't have experience in insurance, maybe for a few months just to see and learn from the agents in the office, then I'll go independent.
Yeah that’s a good way to do it!
How’s it going
Captive is a good way to start and a horrible way to finish. If you don’t want to own your book, stay captive.
@@wesleylatham is captive the BETTER way to start though? Thx
Good luck!
Thanks, Chris
Brand new Life, Accident, & Sickness Agent --
think I may start as a captive Medicare agent - it is quite a tough situation if for 90 days I can't sell insurance for certain companies- but the definite monthly income makes sense - and being that I', brand new to the industry - it sounds more than fair
not to mention, If I quit health, I can go into life for those three months and sell without worry about being limited.
Currently stuck between staying in a captive agency for life insurance (I'm barely going through the training phase), or switching over to an independent one where I know I have way more flexibility. I just got licensed a month ago and it might be a good idea to stay with a captive agency for a while to learn as much as I can, but I think I'm just gonna go independent already.
If you feel ready to make the jump you should do it! I usually recommend minimum 6 months working at an agency to learn the ropes first
Any recommendations on great non captive fmos
Hi Chris, I'm an independent life and health agent who will be getting my P&C license soon. Can you recommend a good upline for contracting with P&C carriers?
We use SIAA and they’ve been great for us
What if I am selling ACA as an independent agent and get offered a salary captive position selling final expense can we do that?
Usually if you’re working any form of captive you can’t really do independent at the same time
. Peace Shalom Salam Namaste 🙏🏻 😊 🌈 ✌ ☮ ❤ 🕊
Captive agent is not free at all!