[LTPC-disc] (no subject)
Bob Hadidian
ltpc-disc@ltpcalums.com
Thu, 12 Jun 2003 08:00:24 -0700
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Greetings All
Well, some have taken my challenge as an uncaring position and an =
intolerance of expression. This is very untrue. I too invested my heart =
and soul into my career at LTPC and my clients. I too spent close to a =
year building a book of business (About $150,000) that I won't see a =
penny of renewals on. My email commended the efforts.
However, I signed the contract. I am responsible for the results. My =
position is the result of my decisions.
In regards to vesting. Form the contract Exhibit B:
"Commission rates for renewals will be base on the level of in force =
business as follows..."
In regards to the audits and corrections of commissions. We are paid on =
what LTPC receives and when they receive it. From the contract Article =
III Section D.:
"...LTPC may, in its sole discretion, advance money to SA in =
anticipation of earned commissions. In such event, all future earned =
commissions will be netted against the advanced money. In the case that =
the SA's employment is terminated, and advances are greater than =
commissions earned, SA shall repay the outstanding debit balance, in =
full, once final balance is determined."
In regards to adjusted renewals. From the contract Article III Section =
F:
"....Renewal commissions are only payable on the premium which LTPC =
actually receives a renewal commission payment."
Cendant has a fleet of lawyers on retainer and their whole goal is too =
squeeze every penny by exploiting every loophole. Yes, David can defeat =
Goliath, but it's going to be on LEGAL grounds not MORAL Obligation. =
Expecting anything else is counterproductive. The basis of my challenge =
was to focus on the things you can control.
I don't forget the past. And my memory is long.
But, it was due to the training I received from LTPC that put me in the =
position of accepting offers instead of applying for a job.
Now let me do a little advertising for Bankers Life.
a.. They are a separate legal entity from Conseco. California =
Partnership Company
b.. 45%-60% commissions=20
c.. Up to 30% bonus on top (Scale starts at $3000 quarterly earnings)
d.. Annualized commissions
e.. 50% of annualized commission is deposited in my bank account on =
submission of application
f.. Leads provided plus a 5%-10% lead generation allowance
g.. A strong retirement income on top of renewals
h.. TQ and NTQ LTC (Dual waiver included)
i.. E-Z issue short term care (180 days at $150 daily max plus =
inflation protection)
j.. Home Care Only policies available=20
k.. Consumer friendly annuities
l.. Med-Sups
m.. Senior Life
n.. Training
o.. 1099 income but some benefits are available.
God bless you all.
Bob Hadidian
----- Original Message -----=20
From: Kathy Burton=20
To: ltpc-disc@ltpcalums.com=20
Sent: Wednesday, June 11, 2003 10:25 PM
Subject: [LTPC-disc] (no subject)
Hi all,
I think there is a great resource here for most of us, though some may =
not be happy with the content recently. Most were responding directly =
to a request to voice their concerns, as I see it, and at least there is =
a place to do that. Some suggest moving on, which of course, we all =
have to do. However, I would guess that one's willingness to "move =
onnnn" may correlate directly to the amount of effort they have put into =
this, and how much they are losing. I find it difficult to walk away =
from over 100,000 in renewals without even trying to do anything about =
it.=20
SO, for those of you who are interested, the following is the result =
of my recent conversation with Danny Nelms in HR. and, yes, a complaint. =
All others may delete now!=20
There are legal issues, and per HR, the legal department has "gone =
over the contract with a fine tooth comb," i.e.. they found a way, =
(teeny tiny loophole), to eliminate paying on the renewal portion from =
the old contract because the renewal schedule was not listed on Exhibit =
A, which discussed the commission payment structure. ( You may recall, I =
was originally told we would be paid according to the old contract, up =
to the introduction of the new contract, because the new contract did =
not say it superceded all previous contracts.) The portion of the old =
contract that was in question was the commission structure, Exhibit A. =
Danny Nelms apologized for misleading me by saying we would be paid =
renewals on all business placed prior to the new contract, according to =
the old contract vesting schedule.=20
For those of us not vested, this means we won't see a penny of our =
renewals, where before we would at least have received some percentage =
on business placed. The question is - is this loophole valid?
New Give Me A Break issue- the recent charge-backs are partially the =
result of LTPC not keeping track of carrier receipts, which is an issue =
between LTPC and the carrier, not LTPC and the agent, yet they are =
taking $$$ out of our paychecks because of their oversight. We do not =
control the carrier payments, so LTPC should resolve this before =
charging agents back, then reconcile. I was charged back on premiums =
collected months ago, and was told Galic did not pay them correctly. =
Get the money from Galic, LTPC, don't take it out of my pocket. =
Everybody check your commission statements if you haven't already!
There are things worth fighting for and we can help each other. =
Whether it's about vesting, servicing policyholders, commissions, or =
employment opportunities, I hope everyone continues to speak up.=20
=20
Kathy
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<DIV><FONT face=3DArial>Greetings All</FONT></DIV>
<DIV><FONT face=3DArial>Well, some have taken my challenge as =
an uncaring=20
position and an intolerance of expression. This is very untrue. I =
too=20
invested my heart and soul into my career at LTPC and my clients. I too =
spent=20
close to a year building a book of business (About $150,000) that I =
won't see a=20
penny of renewals on. My email commended the efforts.</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>However, I signed the contract. I am responsible =
for the results. My position is the result of my =
decisions.</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>In regards to vesting. Form the contract Exhibit =
B:</FONT></DIV>
<DIV><FONT face=3DArial> <EM>"Commission rates for =
renewals will=20
be base on the level of <U>in force</U> business as=20
follows..."</EM></FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>In regards to the audits and corrections of =
commissions.=20
We are paid on what LTPC receives and when they receive it. From the =
contract=20
Article III Section D.:</FONT></DIV>
<DIV><FONT face=3DArial> <EM>"...LTPC may, in its sole =
discretion, advance money to SA in <U>anticipation</U> of earned =
commissions. In=20
such event, all future earned commissions will be netted against the =
advanced=20
money. In the case that the SA's employment is <U>terminated</U>, and =
advances=20
are greater than commissions earned, SA shall repay the outstanding =
debit=20
balance, in full, once final balance is determined."</EM></FONT></DIV>
<DIV><EM><FONT face=3DArial></FONT></EM> </DIV>
<DIV><FONT face=3DArial>In regards to adjusted renewals. From the =
contract Article=20
III Section F:</FONT></DIV>
<DIV><FONT face=3DArial><EM> "....Renewal commissions =
are only=20
payable on the premium which LTPC <U>actually </U>receives a renewal =
commission=20
payment."</EM></FONT></DIV>
<DIV><EM><FONT face=3DArial></FONT></EM> </DIV>
<DIV><FONT face=3DArial>Cendant has a fleet of lawyers on retainer and =
their whole=20
goal is too squeeze every penny by exploiting every loophole. Yes, David =
can=20
defeat Goliath, but it's going to be on LEGAL grounds not MORAL =
Obligation.=20
Expecting anything else is counterproductive. The basis of my challenge =
was to=20
focus on the things you can control.</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>I don't forget the past. And my memory is=20
long.</FONT></DIV>
<DIV><FONT face=3DArial>But, it was due to the training I received =
from LTPC=20
that put me in the position of accepting offers instead of applying =
for a=20
job.</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>Now let me do a little advertising for Bankers=20
Life.</FONT></DIV>
<UL>
<LI><FONT face=3DArial>They are a separate legal entity from Conseco. =
California=20
Partnership Company</FONT></LI>
<LI><FONT face=3DArial>45%-60% commissions </FONT></LI>
<LI><FONT face=3DArial>Up to 30% bonus on top (Scale starts at $3000 =
quarterly=20
earnings)</FONT></LI>
<LI><FONT face=3DArial>Annualized commissions</FONT></LI>
<LI><FONT face=3DArial>50% of annualized commission is deposited =
in my bank=20
account on submission of application</FONT></LI>
<LI><FONT face=3DArial>Leads provided plus a 5%-10% lead generation=20
allowance</FONT></LI>
<LI><FONT face=3DArial>A strong retirement income on top of =
renewals</FONT></LI>
<LI><FONT face=3DArial>TQ and NTQ LTC (Dual waiver =
included)</FONT></LI>
<LI><FONT face=3DArial>E-Z issue short term care (180 days at $150 =
daily max=20
plus inflation protection)</FONT></LI>
<LI><FONT face=3DArial>Home Care Only policies =
available </FONT></LI>
<LI><FONT face=3DArial>Consumer friendly annuities</FONT></LI>
<LI><FONT face=3DArial>Med-Sups</FONT></LI>
<LI><FONT face=3DArial>Senior Life</FONT></LI>
<LI><FONT face=3DArial>Training</FONT></LI>
<LI><FONT face=3DArial>1099 income but some benefits are=20
available.</FONT></LI></UL>
<DIV><FONT face=3DArial>God bless you all.</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>Bob Hadidian</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Dburtonk34@msn.com href=3D"mailto:burtonk34@msn.com">Kathy =
Burton</A>=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dltpc-disc@ltpcalums.com=20
href=3D"mailto:ltpc-disc@ltpcalums.com">ltpc-disc@ltpcalums.com</A> =
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Wednesday, June 11, 2003 =
10:25=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [LTPC-disc] (no =
subject)</DIV>
<DIV><BR></DIV>
<DIV>Hi all,</DIV>
<DIV> </DIV>
<DIV>I think there is a great resource here for most of us, though =
some may=20
not be happy with the content recently. Most were =
responding=20
directly to a request to voice their concerns, as I see it, and at =
least there=20
is a place to do that. Some suggest moving on, which of course, =
we all=20
have to do. However, I would guess that one's willingness to "move =
onnnn" may=20
correlate directly to the amount of effort they have =
put into=20
this, and how much they are losing. I find it difficult to =
walk away=20
from over 100,000 in renewals without even trying to do =
anything about it. </DIV>
<DIV>SO, <STRONG>for those of you who are interested</STRONG>, the =
following=20
is the result of my recent conversation with Danny Nelms in =
HR. and, yes,=20
a complaint. <STRONG>All others may delete =
now! </STRONG></DIV>
<DIV> </DIV>
<DIV>There are legal issues, and per HR, the legal department has =
"gone over=20
the contract with a fine tooth comb," i.e.. they found a way, =
(teeny tiny=20
loophole), to eliminate paying on the renewal portion from =
the old=20
contract because the <STRONG>renewal schedule</STRONG> was not =
listed on=20
Exhibit A, which discussed the commission payment structure. ( =
You may=20
recall, I was originally told we would be paid according to the old =
contract,=20
up to the introduction of the new contract, because the new contract =
did not=20
say it superceded all previous contracts.) The portion of =
the old=20
contract that was in question was the commission structure, Exhibit =
A. =20
Danny Nelms apologized for misleading me by saying we would be paid =
renewals=20
on all business placed prior to the new contract, according to the old =
contract vesting schedule. </DIV>
<DIV> For those of us not vested, this means we won't see a penny =
of our=20
renewals, where before we would at least have received some =
percentage on=20
business placed. The question is - is this loophole =
valid?</DIV>
<DIV> </DIV>
<DIV> New Give Me A Break issue- the recent charge-backs are =
partially the result of LTPC not keeping track of carrier =
receipts, which=20
is an issue between LTPC and the carrier, not LTPC and the agent, yet =
they are=20
taking $$$ out of our paychecks because of their oversight. We =
do not=20
control the carrier payments, so LTPC should resolve this before =
charging=20
agents back, then reconcile. I was charged back on premiums =
collected=20
months ago, and was told Galic did not pay them correctly. Get =
the money=20
from Galic, LTPC, don't take it out of my pocket. Everybody =
check=20
your commission statements if you haven't already!</DIV>
<DIV> </DIV>
<DIV>There are things worth fighting for and we can help each other. =
Whether=20
it's about vesting, servicing policyholders, commissions, or =
employment=20
opportunities, I hope everyone continues to speak =
up. </DIV>
<DIV> </DIV>
<DIV>Kathy</DIV>
<DIV> </DIV></BLOCKQUOTE></BODY></HTML>
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