Pinney Insurance review for agents: contracting, pay, release terms and leads

Payouts and overrides at Pinney are custom and shared during contracting. Vesting and book terms are not published, so get them in writing before you move business.

Pinney is open contracting. Agents and agencies sign up directly through the online system, and the chain is agent or agency, then Pinney, then the carrier.

Agencies can build a hierarchy, and Pinney advertises hierarchy overrides.

Pay path varies by carrier, and Pinney links each carrier's statement and payout system. Pinney does not state whether it holds each carrier contract directly with the carrier or through another marketing organization.

Pinney advertises hierarchy overrides and custom payouts, and it shares commission information during contracting. No line-by-line commission ranges, street-level definition, level increase rules or carrier bonus pass-through terms are published.

If you come to Pinney from another agency, carriers that allow only one appointment may need a release before you submit business. Pinney lists American General, Banner, Genworth for fixed life and annuity, John Hancock, Lincoln, MetLife, North American, Principal, Prudential, Transamerica and Voya as allowing dual life appointments. These are carrier rules.

Ask whether chargebacks are withheld from future pay and whether debt passes up the hierarchy.

Pinney covers life, annuities, disability, long-term care and final expense. Pinney says it has 60+ contracted carriers. Its final-expense quoter includes Guarantee Trust Life, Globe Life, Royal Neighbors, American General, Assurity and Mutual of Omaha.

Some carrier and state pairs need pre-appointment, such as Aetna in California, Florida, Georgia, New Jersey, Pennsylvania and Texas. Application fulfillment excludes some carriers and has premium thresholds.

Basic Insureio quoting, submission and case-status tools, application fulfillment and the final-expense quoter carry no direct fee with Pinney contracting. The lead program requires licenses in at least five states and at least 100 leads per month.

The lead offer page is marked Limited Time Only and carries a 2019 footer. Insureio marketing features come with a 30-day trial, and paid plan prices are not published.

Pinney runs a Direct Sales team and a consumer-facing call center. Agents can refer cases to that team for a 50% commission split.

Support includes advanced planning and case design, an in-house underwriter, a medical director, case management, mentoring, study groups and webinars.

You contract online with Pinney Insurance Center, Inc. Pinney says its team may take 1-5 days to submit a complete request with nothing missing and carriers may take 2-14 days after that. You need an active license copy, AML through LIMRA, a voided check and an E&O declaration page with at least $1 million per claim with a $1 million aggregate limit.

Pinney does not state who pays carrier or state appointment fees. It recommends E&O options but publishes no group E&O price or discount. Annuity sales may need state CE and carrier training.

Pinney is family-owned with no parent company named. It runs its own direct-sales team and call center that sell to consumers.

What is Pinney application fulfillment?

You make the sale and Pinney handles the application, case management and policy delivery. Pinney says you keep 100% of the regular commission.

How long does Pinney contracting take?

Pinney says its team may take 1-5 days to submit a complete request with nothing missing and carriers may take 2-14 days after that.

What E&O do I need to contract with Pinney?

An E&O declaration page with at least $1 million per claim with a $1 million aggregate limit, plus a license copy, LIMRA AML and a voided check.

Do I need a release to contract with Pinney?

Only for carriers that allow one appointment. Many life carriers, including John Hancock, Lincoln, Principal and Prudential, allow dual appointments.

Can Pinney sell my clients for me?

Yes. Its Direct Sales team can take a referred case through the sale for a 50% commission split.

Vendors change their pricing all the time and they don't email us when they do. So if you see a price on here that's gone up, a plan Pinney Insurance quit selling or a contract term that reads different now, let us know and send the link to the page where Pinney Insurance has it. Somebody here pulls up that page and checks it before we change anything on ours.