Captive Agent Dilema. Need Advice!

[azmedsupagent]

Ok, so this board has helped since day one when I was just starting out as an agent. I now come to you all with a bit of a dilema. I am currently working as a captive agent Arizona for a health and life company and I have been working primarily in the medsupp market. I have done very well in the 8 months I have been doing this and have already one several awards and been in the top 3 agents just about every month. I created my own website that generates plenty of leads for me and there is rarely a day when I actually need to cold call people. My problem is that the company that I am captive with is a bit overpriced. They are on average about 20-40 dollars over the competition and I am getting more and more not taken policies due to loosing out on price. I can usually close about 70-80% of my appointments but that doesnt matter when you are loosing 3 a month to price.Here is my dilema, right now I have about 60 policies on the books at a renewal for years 2-6 of about $20 per policy. I get 9 month advances, and production bonuses(8 apps =$800, 10=$1000, 15=1500) and my commission on med supp is 27% 1st year and 13.5 yrs 2-6. I also have a 5 year vesting schedule. I need the bonuses and the advances to live on untill my renewals start rolling in. I am thinking about cutting my losses and jumping ship before it's to late and my golden handcuffs become to heavy for me to move. I am looking at selling for mutual of omaha and have no idea about what thier advances, commissions, and production bonus structure is like. Does anyone know what MOO pays in arizona for medicare supplements?I could really use some advice as to what my next move should be here. Thanks everyone!

 

[Todd King]

1st off, the only one of the Mutual companies that sell med supps in AZ is United World. Secondly, you would cry if you knew what the commission is, but I promise you, it's no where near 27%, but the good news is, it is above the 13%!
Now, another thing is that more than likely, because you are getting a very high first year commission that is the reason why the subsequent years are lower. With most companies it is level for the 1st 6 years then it either drops way down or off the books. Most companies do not give you the production bonus like they do with captives, but then again, they don't tell you who you have to sell for either.
Most of the companies pay you anywhere between 20-23% on average and that's level for 6 years. So you can easily see where by the 2nd year, you're ahead of the game.
There could be more to this story. Who is your med supp company now?
If you need or want further info, I might can help. You can call me any time if you want.

 

[captain94]

AZmedsupagent, you said you have a website and have leads coming in off it. im looking at starting a website and any advice you can give me is appreciated. how do you drive traffic to it and who set it up for you? im in ohio so we are not running against each other. Thanks in advance.