A question about commission

[TampaHound]

Hey,

A few of you may remember me. Maybe not. Cranky middle age guy with lots of sales experience that got tired of sales.

Well I have a job that isn't sales paying well and I'm looking to supplement my insurance. A guy I know has a small operation selling MA and Supplement polices over the phone. He's willing to work with me so I can supplement my income on a part time basis.

Since I've always worked for an hourly rate + bonus I'm not sure what a standard commission would be in this case.

I'm just looking to supplement my regular pay and not go full time (maybe 5 - 10 hours total a week). So what would be the standard commission for a Med sup or MA plan?

 

[hockeyday]

What State

 

[Markthebroker]

What State

Seriously?

 

[TampaHound]

What State

When I left the business is Oct of last year (Happy New Year to all by the way), I was appointed in 38 states. It's been as high as 49 appointments.

I'm just kicking around the idea to see if it's really worth 5 - 10 hours of my time every week. I've been doing phone sales of one sort or another for 20 plus years. He'll pay to keep my appointments in tact if I go straight commish for him. I want to keep my license active just in case I end up going back.

Plus, let's be honest. the residuals are why we are in this business.

 

[hockeyday]

When I left the business is Oct of last year (Happy New Year to all by the way), I was appointed in 38 states. It's been as high as 49 appointments.

I'm just kicking around the idea to see if it's really worth 5 - 10 hours of my time every week. I've been doing phone sales of one sort or another for 20 plus years. He'll pay to keep my appointments in tact if I go straight commish for him. I want to keep my license active just in case I end up going back.

Plus, let's be honest. the residuals are why we are in this business.

Why did you leave, 5-10 hours per week may get you a sale here or there

 

[TampaHound]

Why did you leave, 5-10 hours per week may get you a sale here or there

There is a whole other thread about that LOL. I just got tired of phone sales and wanted something else to do for a bit. I'm now working about 35 hours a week with 401K, pension and good medical.

I don't have the stress and headaches I once had. Although it is a bit more "confined" than what I did before in Insurance. I just want to see if going back on the phone for 5 to 10 hours a week is worth it.

So, what's the average commission for an Medicare Advantage or Supplemental plan?

 

[ExProgrammer]

There is a whole other thread about that LOL. I just got tired of phone sales and wanted something else to do for a bit. I'm now working about 35 hours a week with 401K, pension and good medical.

I don't have the stress and headaches I once had. Although it is a bit more "confined" than what I did before in Insurance. I just want to see if going back on the phone for 5 to 10 hours a week is worth it.

So, what's the average commission for an Medicare Advantage or Supplemental plan?

For MA plans its $482 for the client's first enrollment in an MA plan in most states. A few states are higher. Renewals or enrollment of someone already in an MA plan are half of the commission for newbies. Renewals go on as long as the client is enrolled in an MA plan.

For PDPs it's $74 for new ones and $37 for renewals.

For med supps it should be 18 - 22 percent of the first year premium for the first year as well as renewals for a total of six years. Although GI rates may be small or even zilch.

 

[goillini52]

Hey,

A few of you may remember me. Maybe not. Cranky middle age guy with lots of sales experience that got tired of sales.

Well I have a job that isn't sales paying well and I'm looking to supplement my insurance. A guy I know has a small operation selling MA and Supplement polices over the phone. He's willing to work with me so I can supplement my income on a part time basis.

Since I've always worked for an hourly rate + bonus I'm not sure what a standard commission would be in this case.

I'm just looking to supplement my regular pay and not go full time (maybe 5 - 10 hours total a week). So what would be the standard commission for a Med sup or MA plan?

I remember you. You haven't been gone that long.

 

[Devin01]

There is a whole other thread about that LOL. I just got tired of phone sales and wanted something else to do for a bit. I'm now working about 35 hours a week with 401K, pension and good medical.

I don't have the stress and headaches I once had. Although it is a bit more "confined" than what I did before in Insurance. I just want to see if going back on the phone for 5 to 10 hours a week is worth it.

So, what's the average commission for an Medicare Advantage or Supplemental plan?

Are u calling from your house or are you going into an office. I would pay 50% and pay all leads and offer residual.

 

[TampaHound]

I remember you. You haven't been gone that long.

That's true, and technically I'm not back. I needed a break from selling life/Medicare insurance and had enough. I even left before AEP because I needed a break.

I decided not to take up my friends offer for 2 reasons. A) I really wanted to get away from 50 - 60 hour weeks and B) we could not come to a happy compromise on pay.

Funny thing is that I fell into a job where I've great benefits and don't have to sell. I may return to it soon but for now I'm happy.