Why it matters
Without one, a carrier may refuse to appoint the agent under a new hierarchy. Release policies differ: some are fast, some include conditions on unpaid chargebacks. Ask how releases work before joining. Also ask who keeps ongoing renewals after the move. Get any release terms in writing, and keep a copy for your records.
Source: naic.org
Read next, for agentsHow to join an IMO: the questions to ask before you signWhere we use this term
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- Life insurance chargebacks explained: how they work and how to protect your cash flow
- Switching IMOs: what experienced agents should know