We know we are blessed to have over 30 carrier options we can contract with here at Family First Life. HOWEVER – the MAJORITY of our clients can be served with the following 7 carriers for approval. The rest vary on a case to case basis and are not written regularly. On top of that, it takes time, money, and paperwork to contract agents with certain carriers that they likely will not need to write very often, if ever.
Upon onboarding, agents working with Inspire Insurance Group will be contracted with these 7 main carriers*
Americo
Mutual of Omaha
Corebridge/AIG
Aetna
American Amicable
Transamerica
Ethos
Agents will be eligible to contract with additional carriers by meeting one of the following requirements**:
Issue paid volume is at least $10,000 of personal production in a month.
Proof of why a new carrier is needed prior to $10k in a month (ex. the best product/approval for a particular client is with an additional carrier product) and obtain approval for special circumstances from Marissa directly.
This policy has been put in force to help agents get started fast and keep the process simple, as well as protect our agency, Inspire Insurance Group, from liability and unnecessary work for our administrators***.
*If an agent’s upline does not have a particular carrier contract, new agents are not eligible to contract with that carrier unless specifically approved by TODO
**If an agent carries a debt balance of more than $5000 (across all carriers cumulatively), they will not be eligible for any additional carriers until debt is reduced.
***This policy is in effect for anybody who is direct to TODO (not under any other agency logo) AND anybody who uses TODO contracting director TODO. If your agency has its own contracting admin – this may not pertain to you and please reach out to your direct agency owner for clarification.
TODO agents are generally paid an advanced commission for their policies written in the “life” category of the business. Upon onboarding, agents are eligible to receive up to a 9 month advance on their life business.
This means that the insurance carrier will pay the agent 9 months of their commission up front assuming the policy will stay on the books for at least that long. IF the policy is canceled or lapsed before that period of time, the agent will have what is known as a chargeback. Chargebacks are money owed back to the carrier.
While most carriers allow the agent to continue writing business and use future commissions to pay the chargeback off, the agent must have an understanding that should they have one or more chargebacks and there is no effort to reduce the chargeback amount, the agent will have a debt balance that will remain their sole responsibility until it is paid back.
Agents will acknowledge, and agree to the following:
**This policy is by & for TODO. It is NOT representative of any of the insurance carriers, Family First Life, or Integrity Marketing Group.
**Agents will also need to meet requirements and follow all guidelines for each carrier contract & Family First Life.
TODO recognizes the importance of consistent production in a business with advanced commissions. Taking long breaks from production can harm an agent more than help them and cause more liability and struggle from chargebacks and unpaid debt.
Because of this, it is our policy that if an agent does not issue pay new business for a span of 3 months or more, their carrier contracts will be placed as earned. Should the agent come back and prove a more consistent production schedule, this may be reversed with approval from TODO.
Upon onboarding, agents working with TODO will be required to attend a mandatory 6 hour training (two 3 hour blocks unless otherwise arranged) on zoom. This training is interactive and agents will be required to have their camera on and be connected to audio for the entirety of the training to ensure engagement and productivity.
The training is to be completed before any business is written.
If the training is not completed within three weeks of contracting or at all, the agent will NOT be eligible for advanced commissions on their carrier contracts.
The TODO Administrative Team’s main focus is to help agents to the best of their ability. However, it is important to understand that agents and managers are not entitled to staff use. With this being said, active agents who are writing business and participating in agency events, meetings, etc. will be helped as a top priority. If an agent has been deemed inactive, or is not showing a clear effort to work, the team members retain the right to refuse service or place on a low priority status.
There may also be a point in time where TODO and/or the TODO administrative team suggests that you get your own staff. This decision will be made on the basis of the amount of requests coming in, size of the team, and whether or not the agent or manager is making a clear effort to work and grow their business. If this is suggested, TODO Administrative Team will help to train the new staff to the best of their ability, but the new staff may also be held responsible for learning some aspects of the business on their own or with the help of their hiring manager.
