Liberty National Life Insurance Company They will keep half the money you earn. Austin Texas

I worked there everyday for several months.  Don't try to tell me that I barely worked.  I went out to businesses every day.  Most of the time I went out with a senior person and whenever we made a conection, that senior person would take the case from me.  Even though I did all the leg work.  As far as the comission goes, they should tell you that up front instead of telling you that you get to keep it after you leave.  Three months after I left that job I finally got ahold of someone in the main office who explained to me what you said.  An agent doesn't get to keep their money from the commision account if they have been there less than a year.  So how come my manager or branch manager didn't tell me this when I started?  How come they didn't tell me this when I tried asking around about it?  Because they claim that they didn't know this.  Both of them told me that they were not aware of this fact.  How convient.

I have been an employee with the company for over six years, and it never ceases to amaze me that people will sign contracts that they do not read and then complain when things are different than they thought.  Liberty has an unpresidented compensation plan, that is way above industry standards.  And it is designed to allow a new agent to make a solid income.

That said to address your compliant.  Our contract, like many insurance companies explains how we are paid.  We are paid on an advance of what we would earn if a policy stays on the books for a full year.  This is funded by a no intrest loan from the company.  This is huge because 50 years ago it wasnt like that.  If you sold a $90 policy you would earn your commision on that months prem, so if you were paid 60% you would make $54.  And you would make $54 a month each month for a year. Try to make a living on adding up $54! It is why it used to be so hard to start in the industry.  So what Liberty (and many other companies ) do is they pay you an advance on the full years prem.  So instead of being paid on $90 you are paid on $1000.  This allows new agents the ability to start earning money fast.  Our contract clearly says that if you haven't worked over a year you do not get paid your left over commision account money.  Which makes sense.  Why would they pay you a whole years Salery on a sale when you were only there for 6 months?  You didn't earn it.  Plain and simple.  

The fact you said 50% went into your commision account tells me you barely worked.  Because it changes to 70% paid and 30% commission account after you close 2 cases.  Most agents close a case a week.  So you are complaining about not getting advanced money on future earnings on a sale that you probley were given in the first place.  They do not owe you $1700, the reality is they gave you more than you really earned on the sale in the first place.

This is is a quote from our contract.