Beginner's Guide to Insurance MLM

Discussion in 'Getting Started Selling Insurance' started by wfs, Apr 22, 2009.

  1. anthonyxm
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    anthonyxm New Member

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    Good stuff Primerica has ruined lives in the northern VA area. A lot of agents were just used for signing up their friends and family, then they are discarded.
    Now there is Premier Financial in MD that holds recruiting seminars in which anyone off the street is hired as long as they have $150 bucks and promise to 3 sign up family members for their upline,then they are left with no support. Its really sad.
     
  2. susieQ
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    susieQ Super Genius

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    I believe UFirstAlliance is a new MLM. They are a spin off of the company that does the "Money Merge Account"
     
  3. wfs
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    wfs Guru

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    It is. I looked into that a while back until I realized not only was it an MLM, but they charge you (the client) thousands so that their "proprietary" software can calculate the best way to pay off debt. Totally ridiculous.

    Well, here is the simplest and one of the best methods for eliminating debts. The snowball method. You can give it to your clients for free.

    Free Debt Reduction Calculator for Excel
     
  4. somarco
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    somarco Guru

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  6. wfs
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    wfs Guru

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  7. DJM
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    DJM Super Genius

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    Tread carefully when considering joining this outfit.
    And remember, believe only 25% of what you hear, and 50% of what you see
     
  8. wfs
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    wfs Guru

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    Too bad I can't update my original post... :nah:
     
  9. DJM
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    DJM Super Genius

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    They got rid of the edit feature???
    Those bastards!!!
     
  10. wfs
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    wfs Guru

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    I just watched the videos for Independent Producers of America and UandI Win. It's the same old thing. Vision, Leadership, Changing Lives, the best thing since Vodka Martinis, etc...

    UandI Win said that network marketing is "the franchise of the people". Now I am not an attorney (but I do play one on TV, and a damn good one) however I do not that it is against the law (ala FTC, the agency that governs franchises) to liken MLM to a Franchise. It is deceptive and untrue.

    Why would an agent with any type of experience join MLM? The answer is simple - for a large residual income from other agents. But I think this can be done without MLM successfully.

    You can be wildly successful by building a high-producing agency, going direct to companies (with a production commitment of course) and then offering decent contracts with $0 in commitments to independent agents. What's wrong with that???

    I mean, if you're going to even bother building a "network" of agents, why not go direct to the company, give high contracts to all involved, forgo the entire churn-n-burn MLM thing, and not feel the need to recruit every friend, relative and client you lay your eyes on? An agency is going to be able to produce some great numbers without being MLM, and you will attract some of the best producers who would never consider MLM.

    I have seen many MLM insurance hierarchies collapse. They never really last. Not for most anyway. Just a house of cards waiting to collapse. You may get a few years out of it. Not the lifetime amazing Tommy Vu - Real Estate Millionaire video that you were promised.

    Now look at the MGAs and IMOs over the last 20 years. And look at your local insurance office that's been in business for 3 generations. Something has to be said for that.
     

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