Becoming an Independent Insurance Agent

[jody108]

This is all great information. Thanks!

How is your site working out for you this week?

 

[davidp711]

From someone just about to get their feet wet I say thanks this is really good adivce!

 

[motoxxx]

I just re read this entire thread and I must say, really good info on this one! Someone should make it a Sticky!

 

[TXPRODUCER]

When you contract with Assurant your per-commission cap can be between $500 to $2,000 max. This does not have to be explained to you or agreed upon by you. A RSD or GA has full power to control your cap.

If you really need money, write a nice $600 a month premium X 12 = $7,200 and you're at 20% you might be expecting and needing that $1,440 commish. If you have a cap of $1,000 then you only get $1,000 - the other $440 will be paid as-earned.

I'd actually recommend a $2,000 cap but very few GAs have that high of a cap themselves.

We give 12 months advance and in some cases give up to $2500 advance caps, but usually it's $1500 or $2,000.
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Any new/updated advice?

I got some good tips if you want them...
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I can point you in the right direction. Give me a call.

Must say love the software you offer, just so much $$$$

 

[Mark]

WHy not become an agent for the top ranking Insurance firms listed here

Is this spam??? Do you work with them or for them?

 

[jody108]

We give 12 months advance and in some cases give up to $2500 advance caps, but usually it's $1500 or $2,000.
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I got some good tips if you want them...
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Must say love the software you offer, just so much $$$$

12 month advance?

Man, you are setting agents up for a big surpise huh?

Their first 2 chargebacks could literally shut them down.

Not a good business model.

Also, I wouldn't be surpirsed if your company didn't shut down sooner than later. Can you imagine 100 agents on 12 months advance??? That could easily come back on you... I've heard of angencies getting 100k in chargebacks from several agents and they have to shut down their business because they just can't pay it back.

Wow! That is risky.

Anyway, maybe you guys can handle it but I know from experience, that most new agents can't handle it and I suggest agents be wise and go with a 6 month advance at the most -- go as earned if possible.

 

[jody108]

Not really. Searching the internet will often times confuse you.

Anyway, PowerPlayer... You crack me up... this is not a place to recruit for NAA... you'll just get trashed here.

But go ahead, the response is quite amusing.

 

[keeptruckin]

Hi I just signed up today and looking forward to reading thru the comments. I am a new agent and will be starting in the new year. I have no experience in selling insurance but have sold other things thru out my life (except me). smileys are cute by the way.
I am looking for advice on what to look forward to as far as the first month and how long a comission takes or works etc.
I am selling or my license is for Life , Health and Variable annuitys and am working for AFLAC. One thing I have been noticing is the possible oversaturation of agents in markets.
I am willing to work and have no dependents other than animals.
I am also willing to listen to what anyone says. I am sure there are opinions on AFLAC also ..I myself am excited about the new job and field and know I am a novice and have lots to learn ..I really do need to know how the commissions work etc I haven't signed the contract yet. but was told of my percentages general area. I have been living off of unemployment(not much) and what the good Lord helps me with so am looking forward to paying my bills.. thank you. Florida by the way SW area.

 

[CHUMPS FROM OXFORD]

Good luck. The Forum offers some great information for you.

 

[keeptruckin]

12 month advance?

Man, you are setting agents up for a big surpise huh?

Their first 2 chargebacks could literally shut them down.

Not a good business model.

Also, I wouldn't be surpirsed if your company didn't shut down sooner than later. Can you imagine 100 agents on 12 months advance??? That could easily come back on you... I've heard of angencies getting 100k in chargebacks from several agents and they have to shut down their business because they just can't pay it back.

Wow! That is risky.

Anyway, maybe you guys can handle it but I know from experience, that most new agents can't handle it and I suggest agents be wise and go with a 6 month advance at the most -- go as earned if possible.

Am very new at this and I am wondering about this problem where if the contract is cancelled etc that the agent would have to return all of commission or a percentage? When you mention only 6 months of the commiss that throws me.. I would think that any contract you would need a certain percentage up front especially if you are first starting otherwise how long should you wait for the money to be free and clear? The first month you have to make something especially if you are the head of the household .It seems you would have to wait forever for that..What percentage of a contract should one accept up front that would be fairly safe..Sorry if I sound clueless but I am somewhat.