Am I Getting Screwed Through Commission?

[LifeWorth]

life worth how are you going to get leads to write Obama care during open enrollment?also what medicare piece does your agency manager use for medicare mailouts to get you leads.also during open enrollment with medicare how are you getting leads?

I generate my own leads by prospecting. I've made some health sales by leads generated by my agency, but most of them are self generated. I have no beef with the commission schedule for health.

 

[Mattschmidt]

Like so many people have told you, talk with an IMO about getting dual contracted, and write these case somewhere else.

That way, the insurance company will pay you directly, and your current agency won't be able to get their grubby mits on the commission.

Alot of good advice has been given to you. It's up to you to follow it.

 

[term1]

so what type of prospecting will you do to take advantage of open enrollment with obama care?will you cold call lower income people from list all day?does your ga have health co's you write with?

 

[Norwayguy]

Considering your thread over on TPGs I am suprised you don't give Life Solutions a call...I know ANICO does dual contracting but not sure if it has to be with different markets such as the federal market and general markets.

 

[VolAgent]

Just a different take.

Would you like to stay in this guy's office? If so, I would recommend writing outside of his established IMO for life insurance. Whether or not he should receive half of your life commissions, you are headed for trouble if you do this AND want to stay in his office. As soon as he finds out, you can expect to get the boot and you'll be looking to do health elsewhere. Also, you almost certainly will not get a release to recontract with Humana elsewhere.

Don't half-a** this. Either go all the way or nothing. Leave him completely and go out on your own or stay the course. Writing away on your life insurance business will just cause other problems.

 

[WinoBlues]

I agree with VolAgent, all in or all out. You made the agreement. If you go behind their back they are open stick it to you.

I am Independent and have many of my live contracts doubled or tripled.

 

[Norwayguy]

I suggest some souls searching. You mentioned the health season is coming up again. I would really look back at my numbers and be honest where are those sales coming from because if I am reading this right and your thread on TGPs your not making a living on these life sales.

 

[scagnt83]

The first thing you need to do is review your current contract. It might not say in the contract that you are required to run all of your business through this guy.... if not, then just get your own E&O and contract through an IMO.

But if you are required to run it all through the agency, then you need to decide on what direction is best...
1. Indy Agent paying for all overhead (office, supplies, E&O, etc.), but getting full comp on life sales
2. Health Agent who is captive under your current agencies arrangement, who does some life on the side.


Or, go out and find a new agency in your town to work under who has a better comp setup.


You say that you generate your own leads. If you are generating 90% or more of your own leads then the only real advantage to your current setup is him covering overhead. (unless he is giving you training/mentorship)

Also, I find it hard to believe that he is that competitive on HI comp if he is taking that large of a cut on LI.

 

[thomasm]

Can't you just wait 6 months with Humana or a UHC contract like you can with life contract if your GA doesn't give a release?

 

[Newby]

Can't you just wait 6 months with Humana or a UHC contract like you can with life contract if your GA doesn't give a release?

I don't know specifically on those two but never assume with any company that you can move contracts after 6-months of no sales. Many companies require you to CANCEL your contract and then wait six months. If you fail to cancel you can never move it without a release with those companies.

Common mistake.