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Which IMO? As I understand, if you want training, for the most part you need to go captive first? I would like to know which IMO has good training?
Asurea
- Thread starter John365
- Start date
And which IMOs allow 'all of what I mentioned' -- salary, gas allowance, health insurance, 401k, etc? (or did I read your post wrong Mattschmidt?)
- 1,011
Your salary is most likely a draw on commissions-
If it was the ideal situation everybody would be doing it- and they're not, because really, you're doing the hard leg work and lining the pockets of your up line-
You can do the math yourself-
MP x 12 x CR x .75=
MP - Monthly premiums
CR - Commision rate
I can guarantee you without a doubt- my 10th, 11 and 12th month as earned that I receive every week from past issued policies is far more than enough for me to purchase Health Ins, Gas, Leads and invest-
Fair enough... but I'm well aware that I'm giving away part of a commission in exchange for learning the industry with a company that has a local office, exclusive leads, admin support, and all the other stuff already mentioned. Could I go totally indy and make more? Sure. But just two months into a new career when I'm learning the very basics, and not even knowing how well I'd do until the past month... I see nothing wrong with a safety net IF one is properly motivated to succeed (not just used as a crutch, like some people can do).
"If it was the ideal situation everybody would be doing it" -- not everyone's 'ideal situation' is the same. It's EXACTLY the ideal situation for some, while many experienced reps would prefer to be totally on their own, no one to answer to except clients and the carriers.
And I'm well aware of how a salary and a draw differ. It were a 'draw against commissions', I would've said I get a draw. It's a actual salary, paid bi-monthly with taxes taken out, along with my gas allowance added in. My commission check is separate, monthly, and deducts my lead expenses before payout.
LonghornMark
Expert
- 47
Norton, work your butt off and learn as much as you can as fast as you can. Get to the wholesale side ASAP. I didn't make it thru pre-production and had to go wholesale. It was the best thing that could have happened for me. 100% plus on the wholesale side vs salary + 25%-60% commission max group side. Not even close.
I wanna get paid on everything I write. Not a portion and have to worry if it is gonna go placed within time so I meet a certain production requirement to earn commissions for the month.
Buy your own DM leads from them or work their telemarketed leads. They both work if you can sell which you can since you made it thru pre-production. And trust me, you still get a ton of support on the wholesale side. My $.02.
I wanna get paid on everything I write. Not a portion and have to worry if it is gonna go placed within time so I meet a certain production requirement to earn commissions for the month.
Buy your own DM leads from them or work their telemarketed leads. They both work if you can sell which you can since you made it thru pre-production. And trust me, you still get a ton of support on the wholesale side. My $.02.
Thanks for the feedback -- I do relate to the 'hitting a monthly goal' frustration, although I kinda like the pressure from it, too. I'll likely go 1099 or look into a producer/manager role for a submarket I tend to work in my area, once I learn more. If you max out as W2 you're actually at 70%, but I did hit 60% in April, so definitely doing well there. Heading to Top Gun training soon and looking forward to meeting the top brass.
LonghornMark
Expert
- 47
Very cool. Congrats. Everyone I've ever met or worked with there at Asurea has been outstanding.
willimatic
New Member
- 5
Norton - So you feel ASUREA's what you can expect to make a year is realistic? It seems like a good route for an entry into the Insurance realm if you don't want to go independent.
It sounds like you're doing FE, how do the agents in your local ASUREA group seem to be doing who are on the MP leads?
It sounds like you're doing FE, how do the agents in your local ASUREA group seem to be doing who are on the MP leads?
I'm writing whatever product suits my clients, which often means the older folks will end up getting FE whole life (like RNA's SIWL) instead of your typical mortgage protection term, but I only get MP leads -- that's really the 'bread and butter' of the lead program, although I think FE leads are also available in certain areas.
As far as 'what you can expect' for Asurea -- when I interviewed, my manager told me somewhere around $60-70k is a very reasonable goal, and I'd have to agree. Look at it this way: With a tiered commission strategy, you'll make in the low $50s with $8k/mo paid annual premium, and the upper $60s if you average $10k paid annual premium. Average $13k and you're close to $90k, and with an average of $15k you're in the $115k range. Now that's going W2 and giving a bunch of your commission split away, of course... but it sounds like you're new and looking for some hand-holding at first. You can always go 1099 and get higher splits once you figure it all out. (Oh, and worst case scenario: average only $5,000/mo paid annual premium and you're under $30k. But you're not making your minimum goals and won't last a whole year, anyway.)
- 3,165
That doesnt sound too bad for a new FE agent....I mightve done if I had known about it! In hindsight, Im glad I didnt, but thats hindsight....as long as u can go 1099 whenever u are ready & get a much higher commish, why not start like that?
Mah?? You listening? LoL
