I have a question in regards to getting terminated and the agency keeping all of your residuals.
I was notified a couple days ago that I was being terminated becasue of my lack of production, and my last residual check I will get for this month, then I won't be getting any more.
To give you a little more background so you can give me your opinions. I was hired by a independant agency. Before I got my P & C license I was doing 100% final expense life insurance the last year for the agency. The people at the office mentioned I should get my P & C license so you could cross sale into my life book of business, which made total sense to me.
So I went in got my P & C license and they helped me with my first 3 or so sales and the rest I did on my own. It's not like I have A huge book of business as I pobably only have 25K worth of Anual Premium, however my yearly commission on this is probably around 3K a year, "which is not much" I know, but just the thought of them keeping "everything" moving forward, just doesn't sit well with me, and some of these clients are my personel friends and also some of my neighbors as well.
Like I said 95% of my business or was-was with life insurance, as I still make around 20K in commission this year with the same agency so they are still benifitting financially from my life sales.
Being I was pretty much the ginnny pig with this agency for being the first P & C rep working under this agency, I never received or signed a contract to protect the Agency as well as for myself.
So my question for all of you out there is am I out of line for feeling I'm getting mistreated here or is this welcome to business? I would of thought they would of at least offered to buy out my very small book of business I had with them.
Looking forward to reading your responses.