As Earned or Advanced Commissions...Best Of Both Worlds?

Nov 22, 2018

  1. FinalExpenseDojo.com
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    FinalExpenseDojo.com Guru

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    Thumbs down... too complicated for me.

    If you want to avoid chargebacks, here's what you do.

    1. Too many independent agents like to taste the rainbow & use 20 different carriers from day 1. Bad decision. Choose 1 company as a "go to" and maybe 1-2 others for when they don't qualify for the "go to".

    This way if you get a chargeback, you have so many policies on the books that it'll come out of your future commissions.

    2. NEVER sell a policy "on a cancel". Meaning, if someone is on the fence, NEVER use the line "hey let's just apply and you can always cancel at any time". (They will cancel 99% of the time, mostly after you've been advanced).

    3. Don't start unless you're going to finish. As long as you keep writing business & never quit, you will get better with time & end up alright.
     
  2. myinsurebiz
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    myinsurebiz Guru

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    Who are your 2 or 3?

    Who is your "go-to"?
     
  3. Chazm
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    Chazm Guru

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    I would never use a “you can cancel” pitch but I have said, “let’s see if you can even get approved first”
     
    Chazm, Nov 28, 2018
    #13
  4. Newby
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    Newby Guru

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    My data on your #2 is way different. I have used versions of that hundreds of times over the past couple of decades and I don't think a single one of those ever canceled. I think a lot of it just depends on the agent's personality of how much success they have with different things like that. I was never a hard closer. My persistancy was always real high. But I probably didn't close some cases that a real aggressive agent might get.

    But the 30 day free look close is great for closing people that want to buy but just think they need to think about it first. By the time you get them approved, get their check, and wrap them up they are as solid as a rock. They don't go though with it unless they wanted it to start with. I could see that if an agent is more of an arm twister with it, there could be way different results.
     
    Newby, Nov 28, 2018
    #14
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