How to Choose an IMO: Questions to Ask Before You Sign
To choose an IMO (independent marketing organization), ask every organization the same questions and compare the answers: who owns your book, how you get released, what you must pay, and who answers when you are stuck. For plain definitions of IMO, FMO and BGA see our glossary.
Who wrote this guide
Disclosure: Leaders Financial Group (LFG) is an IMO, and LFG wrote this guide. We wrote it to help you compare any organization, including us. We do not rank anyone here.
Any list of "the best IMOs" is an opinion. Check every list, including this one, against the answers you get.
Why does picking an IMO feel so hard?
If you are new, you may feel on your own, with no guidance. If you have been around, an upline may have stopped answering, or you may have found out late that you do not own your book. Nobody walked you through it. If that is you, you are not the first.
The way out is simple. Ask every organization the same questions, and get the answers in writing.
Do the labels IMO, FMO and BGA matter?
These are industry labels, not legal categories. Organizations use them loosely, so ask what a company actually does for you instead of going by its name. Some organizations are several of these at once. For plain definitions, see our glossary.
What should you ask any IMO before you sign?
Ask these in writing, of every organization, in the same words. A good organization expects the questions.
If an answer is vague, ask again. If you hear "we will cover that later," ask for it before you sign.
- Who owns my book? If I leave, who keeps the client and the renewals, and where does the contract say so?
- How do I get released? How long does it take, and will I see the release process in writing before I sign?
- Do I vest in renewals or trailing pay? On what schedule, and what do I lose if I leave early?
- If a policy lapses after an advance, who owes the carrier? Do I owe the organization? Can debt move up or down the line (a roll-up)?
- What must I pay to start and to stay? What is optional? Who covers what?
- Is recruiting required for pay, rank or support? What happens if I never recruit?
- Who answers my call when I am stuck, how fast, and do the leaders still sell?
- Which carriers and products can I reach? Can I see each carrier's full commission schedule, not one line of it?
- What does training cover, who teaches it, how often, and what does my first week look like?
- Does the carrier pay me directly, or does money pass through the organization? Which carriers advance commission and which pay as earned?
- Are leads promised? If I buy leads, who owns them, how old are they, are they exclusive, and what happens if they do not convert?
Which contract terms matter most?
Read the whole contract. For plain definitions of terms like vesting and roll-up, see our glossary. For legal questions, ask a lawyer who handles insurance agent contracts. For state rules, start with your state insurance department.
| Term | What it means in plain words | What to ask for |
|---|---|---|
| Book of business | The clients you write, and who keeps them if you leave. | The contract section that says who keeps clients and renewals. |
| Release | Written permission from the organization or carrier to move your contract. | The release process and timeline, in writing, before you sign. |
| Vesting | The point where you keep renewals or trailing pay even after you leave. | The vesting schedule, in writing. |
| Advance | Commission paid before the premium is fully earned. | Which carriers advance and which pay as earned. |
| Chargeback | Money taken back when a policy lapses or cancels early. | The carrier's chargeback period and how it applies to you. |
| Debit balance | What you owe on your account after chargebacks. | How it is tracked, and what happens if you leave owing. |
| Roll-up | Debt that can fall to the person above you if a producer under you does not repay it. | Whether any roll-up exists, in both directions. |
| Required costs | What you must pay to get started or stay. | A list that separates required from optional. |
Who LFG is not for
We are not a fit for everyone. If LFG is not a fit for you, we will say so.
LFG is probably not for you if you are:
- Looking for easy money or a guaranteed result. There is none here, and LFG does not promise income.
- Hoping someone will hand you leads. LFG does not promise leads.
- Wanting a captive, single-company role. LFG is independent.
How many new agents stay in the business?
About 14 to 16 percent of new agents are still under contract with the company that hired them four years later (LIMRA). That is why training, support and honest terms matter.
What we can tell you today, and what comes on the call
Here is what we can say today. For the rest, ask us the same questions on the group call.
For business you write at LFG, the writing agent keeps the client. What happens to clients from your current company is set by your current contract, so read it and ask a lawyer.
Two costs come from LFG's side: a required REV Agency Syndicate training membership and an optional CRM. LFG covers 25 to 50 percent of each. License, exam, appointment and E&O costs are separate.
Pay depends on the insurance company. Some advance commission and some pay as earned. LFG sets compensation levels, agrees them with you at onboarding and discloses them in full.
LFG does not promise leads. We teach you how to build your own lead sources and your own brand.
Recruiting is not required. You can stay a producer.
Our leaders have more than 20 years in insurance. You get coaching from leaders who still write business and a team you can ask.
Carrier access comes through our back-office partners.
Straight Answers
What is the best IMO for new life insurance agents?
There is no single best one. The best fit is the organization whose written terms and support match what you need. A new agent usually needs training and a person who answers more than a long list of carriers. Ask the checklist questions above of every organization, including LFG.
What is the best IMO for independent insurance agents?
Independent means you can work with several carriers and choose how you build your business. Look for written release terms, a clear list of required and optional costs, carrier access that fits what you sell, and a way to reach a real person.
What is the best life insurance agency to work for?
It depends on what you want. Some agencies hire employees and some contract independent producers, so ask which one it is. Then compare pay terms, costs you pay yourself, who owns your clients, and who trains you. Get every answer in writing.
How do I switch IMOs and get released?
Ask your current organization for its release process in writing. Carriers set their own rules, so check each carrier too, and do not assume timing. Ask a lawyer who handles insurance agent contracts to read yours. Your state insurance department can point you to your state's rules.
Do I have to pay to join an IMO?
Some organizations require paid training or tools, and some do not. Ask for a list that separates required costs from optional ones before you sign. Two costs come from LFG's side: a required REV Agency Syndicate training membership and an optional CRM. LFG covers 25 to 50 percent of each. License, exam, appointment and E&O costs are separate.
More Producer Guides
Sources
Still Asking: Which IMO Is Right for Me?
You asked how to pick an IMO without getting burned. Start by asking us the checklist questions. Join a group call, ask in the chat, and a leader will answer plainly. If it is not a fit, we will say so.