Can Someone Tell Me if I'm Being Lied to

ImJustWondering

New Member
3
This post might be a little out of left field in relation to the norm on here but I've been searching the net for like 45 mins trying to get some answers until I came across this forum.
One of my good friends from college has been after me about selling insurance with him or something which isnt a crime but I currently work in advertising sales print/digital and I do well for *myself*. I did about 56 last year which was my first year with this particular publishing company Now he talks about how many polices he writes and it all sounds awesome but i know from being in sales for so long that no company will eat your non payment clients for you.. that will come out of your pay.. i have no idea how insurance does it but I'm pretty sure there is something similar.. ever since college the guy has been kind of flashy and likes to show off but he tells me that I work way harder than him but then says that on a slow weak he makes 3 or 4K .. now 3 or 4K is a slow month to me but a slow week?! Now Im not trying to come off condescending or jerkish but he tells me that he DOESNT prospect and his company or ehatever sends him the information of people who want insurance and also his average is between 6500 and 7 or so..so I'm thinking to myself ..is this guy really telling me he's making over 20,000 dollars a month
I mean is this type of income possible or even heard of. If this is true how much of that could he truly be taking home. .. I love my career I really do but I have no problem with making that move towards insurance if these results are possible
I am in no way trolling. .Im just somewhat skeptical but very intrigued. .hopefully noone takes offense to my post

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Also hoping that he isn't on this website lol
 
and what is the name of the company............
I asked him whohe works for. . Like new york life or something similar and he says that he doesnt work for any one company but he somehow can sell all for all of them..which is weird because my company wouldn't let me sell advertising for the guys across the street.. lol
 
This post might be a little out of left field in relation to the norm on here but I've been searching the net for like 45 mins trying to get some answers until I came across this forum.
One of my good friends from college has been after me about selling insurance with him or something which isnt a crime but I currently work in advertising sales print/digital and I do well for *myself*. I did about 56 last year which was my first year with this particular publishing company Now he talks about how many polices he writes and it all sounds awesome but i know from being in sales for so long that no company will eat your non payment clients for you.. that will come out of your pay.. i have no idea how insurance does it but I'm pretty sure there is something similar.. ever since college the guy has been kind of flashy and likes to show off but he tells me that I work way harder than him but then says that on a slow weak he makes 3 or 4K .. now 3 or 4K is a slow month to me but a slow week?! Now Im not trying to come off condescending or jerkish but he tells me that he DOESNT prospect and his company or ehatever sends him the information of people who want insurance and also his average is between 6500 and 7 or so..so I'm thinking to myself ..is this guy really telling me he's making over 20,000 dollars a month

I mean is this type of income possible or even heard of. If this is true how much of that could he truly be taking home. .. I love my career I really do but I have no problem with making that move towards insurance if these results are possible

I am in no way trolling. .Im just somewhat skeptical but very intrigued. .hopefully noone takes offense to my post

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Also hoping that he isn't on this website lol

https://www.youtube.com/watch?v=F15dgBzwOrc

Current requirements to join the MDRT are here: https://www.mdrt.org/bcms-media/Files/Download?id=b3555e16-98b4-4379-b3a2-a46d00a8cd36

In short, a basic MDRT member has to earn $92,000 in a year.

A Court of the Table MDRT member has to earn 3x that... or $276,000 in a year.

A Top of the Table MDRT member has to earn 6x the basic member... or $552,000 in a year. I think the current stats is that there are about 1800+ members of the TOT nationwide?

Only a small percentage of total agents ever make these kinds of numbers... but yes, they are possible to those who study their craft and make this their profession.


As for prospecting, either he has his own marketing system... or he's part of a lead buying program.

OR... he's a part of an MLM-type financial services company and he's recruited a bunch of agents to sell their family and friends and he's earning substantial overrides on that business. I don't approve of this business model, but it's out there.

Based on your last post... I suspect he's in an MLM venture... trying to recruit you. The last time I talked to someone like this... he said that "Met Life works for us" - LOL! He had no idea how stupid that sounded.

You can look up Primerica and World Financial Group (WFG) on this forum and come to your own conclusions about how they do business.

Other than that, it is also possible that he is an independent agent contracted with multiple companies. Most of us on this forum are independent and contracted with many companies.
 
I asked him whohe works for. . Like new york life or something similar and he says that he doesnt work for any one company but he somehow can sell all for all of them..which is weird because my company wouldn't let me sell advertising for the guys across the street.. lol


sounds like a naa deal........
 
There are several agents on this forum who make $20,000 monthly net. Most are independent and purchase their own leads. Street level contracts pay 100% plus. If your friend is getting free leads then he has a much lower contract to compensate for the lead cost. Most contracts that come with free leads are 55% to 60%. I doubt your friend is netting $20,000 monthly because he would have to be producing twice that amount in AP. I don't think he is producing $40,000AP.

Most of those so called people who want insurance don't. Out of 20 leads you will usually sit down with 10 and sell maybe 5. If he is closing over 25% of the leads then he is better than average.
 
Street level contracts pay 100% plus.

For FE they do. But for traditional life insurance they pay anywhere from 70% to 100% for street. Of course the average traditional policy usually has a much higher premium than the average FE policy.
 
As for prospecting, either he has his own marketing system... or he's part of a lead buying program.

OR... he's a part of an MLM-type financial services company and he's recruited a bunch of agents to sell their family and friends and he's earning substantial overrides on that business. I don't approve of this business model, but it's out there.

Based on your last post... I suspect he's in an MLM venture... trying to recruit you. The last time I talked to someone like this... he said that "Met Life works for us" - LOL! He had no idea how stupid that sounded.

Funny thing is I asked him about that build a team bs.. like 5linx and primerica and he says he doesnt do that.. no conference calls and all that. . (So why is he talking to me)
Another thing that turned me off a bit is he talked about paying i think 3 or 400 dollars just to get these people to give their information to whoever gives it to him... it was all kind of a blur. . It seemed inconsistent to me. Im paid a flat rate commission in advertising.. either 15 or 18% hes told me that multiple companies pays him different rates of commission. .the results sounded awesome but its just that murky stuff in the middle that kind of pute off
 
This post might be a little out of left field in relation to the norm on here but I've been searching the net for like 45 mins trying to get some answers until I came across this forum.
One of my good friends from college has been after me about selling insurance with him or something which isnt a crime but I currently work in advertising sales print/digital and I do well for *myself*. I did about 56 last year which was my first year with this particular publishing company Now he talks about how many polices he writes and it all sounds awesome but i know from being in sales for so long that no company will eat your non payment clients for you.. that will come out of your pay.. i have no idea how insurance does it but I'm pretty sure there is something similar.. ever since college the guy has been kind of flashy and likes to show off but he tells me that I work way harder than him but then says that on a slow weak he makes 3 or 4K .. now 3 or 4K is a slow month to me but a slow week?! Now Im not trying to come off condescending or jerkish but he tells me that he DOESNT prospect and his company or ehatever sends him the information of people who want insurance and also his average is between 6500 and 7 or so..so I'm thinking to myself ..is this guy really telling me he's making over 20,000 dollars a month
I mean is this type of income possible or even heard of. If this is true how much of that could he truly be taking home. .. I love my career I really do but I have no problem with making that move towards insurance if these results are possible
I am in no way trolling. .Im just somewhat skeptical but very intrigued. .hopefully noone takes offense to my post

----------

Also hoping that he isn't on this website lol

If you went to UGA in Athens i know who you are and i know your friend, and he is telling you the truth, he consistently sells $17k to $20k month, im more along the $15k month area. If u didnt attend UGA ignore this post lol
 
There are several agents on this forum who make $20,000 monthly net. Most are independent and purchase their own leads. Street level contracts pay 100% plus. If your friend is getting free leads then he has a much lower contract to compensate for the lead cost. Most contracts that come with free leads are 55% to 60%. I doubt your friend is netting $20,000 monthly because he would have to be producing twice that amount in AP. I don't think he is producing $40,000AP.

Most of those so called people who want insurance don't. Out of 20 leads you will usually sit down with 10 and sell maybe 5. If he is closing over 25% of the leads then he is better than average.

Without knowing the person, product or companies involved how can any of these assumptions be made.. It sounds like you are assuming the fiedl is FE. In the ordinary life world there are agents writing 20K plus per month wiht no lead expense..
 
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