Currently a captive agent and was given a 2.5 million dollar BOB 3 years ago. At first I felt very lucky to be given such a large book and I didn't have to relocate, agency is in the town I grew up in and currently live in.
Here are the problems that I seem to be having....
As a new agent I am making roughly 66% on residuals of what the previous agent was being paid, and I understand that. However for the first 2 years we aren't allowed to qualify for any bonus money, leaving roughly 20-30k on the table.
Current carrier is really starting to monkey around with our compensation plan and I am extremely upset with the way they are going about it.
On top of this the older agents in my district have no sales requirements (or they aren't enforced). I was the second highest new business producer in my district last year yet in December my job was threatened because I hadn't sold enough life insurance, although I had sold more apps and premium than the bottom 8 in my district combined.
Now they are saying that I have to hire a producer and need to budget 1K a month plus 50% commission. I paid myself all of $2500 last month.
In the past month it feels like I went from a career to "this is a stepping stone".
So here is my dilemma. Do i stick it out? Seems like it would take forever to get to the same size agency that I currently have as an independent. If i do decide to go indy do I start a scratch agency? Do I go to work for another indy for awhile. Suggestions???
Here are the problems that I seem to be having....
As a new agent I am making roughly 66% on residuals of what the previous agent was being paid, and I understand that. However for the first 2 years we aren't allowed to qualify for any bonus money, leaving roughly 20-30k on the table.
Current carrier is really starting to monkey around with our compensation plan and I am extremely upset with the way they are going about it.
On top of this the older agents in my district have no sales requirements (or they aren't enforced). I was the second highest new business producer in my district last year yet in December my job was threatened because I hadn't sold enough life insurance, although I had sold more apps and premium than the bottom 8 in my district combined.
Now they are saying that I have to hire a producer and need to budget 1K a month plus 50% commission. I paid myself all of $2500 last month.
In the past month it feels like I went from a career to "this is a stepping stone".
So here is my dilemma. Do i stick it out? Seems like it would take forever to get to the same size agency that I currently have as an independent. If i do decide to go indy do I start a scratch agency? Do I go to work for another indy for awhile. Suggestions???