AARP "GI" Underwritten by NYL

[jacobtn]

sounds like a bad deal to me. I wouldn't assign commissions to anyone. they own the clients, not you.

This is the deal, I'm contracted with a financial agency, and I do the insurance through them. Without going into too many details, it's a good deal for both of us, even though I'm 'captive', I'm the only agent in the office who sells for them, I get referrals from them with their clients who need insurance, and I can then send referrals to them for financial planning. I have to contract through her and she goes through an FMO (don't know who, but it's who we have our foresters through) . The commish goes to her, and she takes her cut and I get the rest. I get to use the office, the phone, copier, fax, etc etc....without having to rent it. For me, it's a great deal. It's a win-win, but it's also a learning curve for both of us, since she only has contracts with Foresters and NGL (for financial planning purposes) and they've never had an in-office insurance person before......

Anyhow, we have been looking for several FE companies to contract with, and don't know much about any of them. It's interesting that you can't get contracted unless you already have an app......our FMO didn't mention this, will have to send that piece of info up.

Also, as far as commissions go, for GI, I'd rather get it 'as earned'...makes much more sense to me!


In other news, I called the lady today and she JUST got out of the hospital again. She told me to call her back next week. She sounded pretty rough.....

 

[windi]

sounds like a bad deal to me. I wouldn't assign commissions to anyone. they own the clients, not you.

I understand that going truly independent is always the best way to go, but since I don't have the experience or the money to invest in my own business right now, this works well for me. I got good training, access to an office and their resources, and the freedom to expand what I offer as far as insurance goes. I think its a nice compromise between being independent and being fully captive (like to one company/product).