Anyone familiar with this group?

Discussion in 'General Insurance Agent Discussions' started by Steve, Dec 4, 2006.

  1. Steve
    Offline

    Steve Super Genius

    Posts:
    135
    Likes Received:
    0
    Hello and thank-you to all -- I've benefitted in many ways over the past few months reading this (and the prior) forum(s).

    I am just becoming licensed in Life & Health. I have come across an ad from HealthChoice LTC Solutions, and am curious if any of you have knowledge of the group. Their website is www.healthchoice.com.

    They focus on the LTC and Medicare Advantage Plan market, along with Life and Annuity products. They claim comprehensive marketing support and training, and all leads are provided through their employer groups, affinity association and policy holder base.

    Any insight would be greatly appreciated.

    Steve
     
  2. Steve
    Offline

    Steve Super Genius

    Posts:
    135
    Likes Received:
    0
    Different Question

    How about any recommendation of specific questions to ask, or "red alerts" to listen for when interviewing with a company focused on LTC and MAP?

    Thank you!
     
  3. Crabcake Johnny
    Offline

    Crabcake Johnny Guru

    Posts:
    14,814
    Likes Received:
    9
    State:
    South Carolina
    General red alerts are:

    *Group interviews
    *Sales pitch instead of you actually being interviewed
    *Talks only about money instead of their products

    Questions to ask:

    *What's the average commission per sale?
    *How are advances and chargebacks handled?
    *How many leads can I expect to get per week and are they fresh and exclusive?
     
  4. MIBizInsurance
    Offline

    MIBizInsurance Guru

    Posts:
    279
    Likes Received:
    0
  5. Steve
    Offline

    Steve Super Genius

    Posts:
    135
    Likes Received:
    0
    Thank you very much, John.

    Along those items, why does the industry focus so heavily on what the advances are? It would seem that with people running between 5% and 40% chargebacks/cancels (or even 60% with NAA!,) "as earned" would be appealing to many. Any insight for me on this?
     
  6. Crabcake Johnny
    Offline

    Crabcake Johnny Guru

    Posts:
    14,814
    Likes Received:
    9
    State:
    South Carolina
    Just that most people don't have the savings needed to keep themselves afloat until as-earned income pays their bills.

    Use health insurance as an example: Say the average commission is 20% and your monthly nut is $4,000. Also assume you're writing $10,000 in premiums. In this scenario it's about 7 months before you're earning $4,000 a month. Not many people have that type of savings.

    And if your chargebacks are running 10% and you're getting advanced then simply save 10% of your commissions. If your chargebacks are running 40% you need to immediately stop what you're doing because something is drastically wrong.
     
  7. James
    Offline

    James Guru

    Posts:
    2,152
    Likes Received:
    0
    As earned is appealing to many, its just getting to the point of surviving on "As Earned". If you can figure out a way its the only way to go!

    Yet though, in the end one has to know what they want out of this field, such as what one wants to sell. This Company you have linked to seems to be about LTCi in no small way! While LTCi isn't the hardest sale in the field its without a doubt one of the hardest sale.

    I would concentrate on this with them, first is do they have a mentor that will lead you in prospecting and your first sales attempts and then to be a mentor for at least a years time. I wouldn't count on any lead program by the company nor would I concentrate heavily on charge backs, they suck and yes they do happen. If it happens you have to pay the money back if you recieved advance commissions, pretty damn clear isn't it?
     
  8. dvd493
    Offline

    dvd493 Super Genius

    Posts:
    214
    Likes Received:
    0
    Steve,

    Thats a great avatar!!!!!!!!!!!!!!!!!!!!!
     
Loading...

Share This Page