Are you actually appointed with any companies?
Bad experience so far, Medicareagenttraining.com
- Thread starter Davidthebroker
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FMO is just a marketing organization. They offer contracts. You don't HAVE to use them, but you generally don't get more money for not using one...
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- #23
Davidthebroker
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No. I've paid for all my training out of pocket.
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You already have a license... have you ever sold any insurance products?
How did you get to this point, deciding you want to sell medicare plans? It sounds like you have a lot of learning ahead.
Many insurance carriers dont necessarily offer direct contracts, but they sort of outsource it to an FMO, these intermediaries will help you get contracts, and some training, and other tools such as CSG.
You mentioned needing help with a scope of appointment... are you already contracted with an insurance company, to present and sell their products? It sounds like you likely are, if you are needing an SOA, but if not, then you may need to tackle that soon.
If you have that contract to sell a companies plan, where did you get it from, and have they offered any guidance or training?
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- #25
Davidthebroker
New Member
- 11
You already have a license... have you ever sold any insurance products?
No.
How did you get to this point, deciding you want to sell medicare plans? It sounds like you have a lot of learning ahead.
Mainly my mom turning 65 soon.
Many insurance carriers dont necessarily offer direct contracts, but they sort of outsource it to an FMO, these intermediaries will help you get contracts, and some training, and other tools such as CSG.
You mentioned needing help with a scope of appointment... are you already contracted with an insurance company, to present and sell their products? It sounds like you likely are, if you are needing an SOA, but if not, then you may need to tackle that soon.
No.
If you have that contract to sell a companies plan, where did you get it from, and have they offered any guidance or training?
I do not have any contracts, I am completely new and only licensed.
L&H Licensed since 2008. Nice!
No.
How did you get to this point, deciding you want to sell medicare plans? It sounds like you have a lot of learning ahead.
Mainly my mom turning 65 soon.
Many insurance carriers dont necessarily offer direct contracts, but they sort of outsource it to an FMO, these intermediaries will help you get contracts, and some training, and other tools such as CSG.
You mentioned needing help with a scope of appointment... are you already contracted with an insurance company, to present and sell their products? It sounds like you likely are, if you are needing an SOA, but if not, then you may need to tackle that soon.
No.
If you have that contract to sell a companies plan, where did you get it from, and have they offered any guidance or training?
I do not have any contracts, I am completely new and only licensed.
L&H Licensed since 2008. Nice!
ok, so FMOs are these organizations (some may call them agencies), that are created to create layers in between the selling agent and the insurance carrier for two main reasons:
1) to separate the agent and carrier for liability reasons
2) so the carrier doesn't have to deal with training, and some of the contracting work
That being said, the carriers still do a fair amount of training, and contracting work, so it may make one wonder why even bother with FMOs?..
Regardless, its the way the insurance industry is set up.
Most carriers will want you to contract through an FMO. Some will allow direct contracting.
There are several FMOs on this website. I get some of my contracts through @Todd King
I'm not sure I would recommend contracting directly through him, as it seems like you would benefit from some hands on training and/or ride alongs. But I know he has several agencies under him, maybe he might have one in Texas that can assist you?
A few things to keep in mind when choosing an FMO to work with:
Do not ever, for any reason, assign your commissions!
Your commissions are your lively-hood. They can become your biggest asset. And if you give up control of them, you give up your business.
You're not getting married here. If you decide you don't like your FMO, then move your contract.
Do not assign commissions.
Its ok to have more than one FMO. I do.
Do not assign commissions.
You do not need to every single company, and every single product immediately. In fact, I would recommend starting out with 2 or 3 of the most popular companies in your area, and take time to learn what makes them different, and their products. and then organically grow from there.
Also, do not assign your commissions.
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CW...
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- 29,489
Thank you everybody for your comments.
Are you related to Markthebroker?
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Which part of Texas do you work?
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Having local "upline" support has worked well for me. Them knowing the local area helps and you will also meet other agents at area meetings sponsored by the upline, aka: FMO.
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