Buh Bye Assurant - Up for Sale / Exiting Market
- Thread starter Yagents
- Start date
- 514
Let me see....
If I get 0 percent commission or even 2% I still have...
*Risk of E & O claim due to carrier default.. We still have to pay E & O premium
*Office ..travel..and advertising expenses paying out of pocket
* Still having to service the client remember the client always comes back to the person that sold them product
* Client gets mad and decides to blame the agent...risk of fines and audits to the agent...
Am I missing anything probably
If I get 0 percent commission or even 2% I still have...
*Risk of E & O claim due to carrier default.. We still have to pay E & O premium
*Office ..travel..and advertising expenses paying out of pocket
* Still having to service the client remember the client always comes back to the person that sold them product
* Client gets mad and decides to blame the agent...risk of fines and audits to the agent...
Am I missing anything probably
- 244
nope, sounds like you summed it up pretty well. Aint it grand?
like I said... dumb for an agent to sell a plan at zero comp... but some on here got bunch of smarts
Last edited:
- 5,058
99% of agents sell from home, so office/travel costs are null .....Client suing an agent? LOL .... U got ready made excuses in Obamacare already built in, aint no way unless you lie for a client on their application, you will be held liable under any E & O scenario.. Assurant folds? Not our problem
Who ever said this was a business model?
I wrote 3 policies on Assurant at 0% compensation for existing clients who decided to switch back because they were unhappy with their new plan choice (and lower premium).
With Assurant leaving the business permanently, I now get to rewrite each of Assurant cases (way over 100) with a new carrier during the next OEP and get a new FYC.
I already am almost fully booked for the next OEP with this alone and will generate far more commissions from this book with them leaving the business than if they stayed.
Some of you need to get a life...
- 15,319
That may well be true but I wouldn't spend all those commissions just yet. I wouldn't be surprised if the remaining carriers drop their commissions to what we have in CA.
Rick
- 5,058
What is your average commission in California?
- 15,319
Now that we don't get 1% from Assurant it's about 2.5-3%. Obviously it depends what plan works best in each county.
Anthem is $16 PMPM (maybe it's $18), Blue Shield is 3%, etc. I wrote exactly 1 plan since the start of OEP so I might be off.
Either way, it's really not worth the effort unless you expect to write hundreds, if not thousands of people.
Rick
- 514
Oops i did forget someting...we must pay
Tax on commish received
Tax on commish received
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