Advisors with an inactive contract can still access the system to view their clients, placed policies, and commissions, but they will not be able to quote or submit new business under their advisor code.
Advisors with an inactive contract will continue receiving compensation for the business portfolio placed when their contract was active.
You can request the reactivation of your contract if it was deactivated due to lack of production or sales. To do this, you need to submit a new Insurance Application to Olé through your Advisor or Senior Agency.
Your Advisor or Senior Agency must notify contracts@olelife.com about the submission of the Insurance Application and specify that it is for reactivating a contract.
A contract can only be reactivated up to 2 times.
Once the Insurance Application is received:
- Your Advisor contract will be reactivated.
- Your access credentials will be enabled.
- The policy will be transferred to the reactivated Advisor contract code.
It’s important to consider that, starting from the deactivation date of the Advisor contract, all reactivations will only be possible under the same structure, hierarchy, and commission level.
For cases involving a change of hierarchy, the following requirements must be met:
- Only if there is no business portfolio or sub-advisors, a contract can be reactivated under a different hierarchy after 120 days from the contract deactivation date. (Subject to Olé’s review and approval).
- If there is a business portfolio and/or sub-advisors, a release form must be sent to contracts@olelife.com. This form must specify whether the business portfolio and/or sub-advisors are being released.
- In both cases a new Application must be submitted under the new Master agency and Olé must be informed that it is to reactivate a contract.