Commission Split for Calling P&C Customers T65

[yorkriver1]

Will be discussing commission split possibilities with large P&C agency for calling their clients about health insurance, primarily Medicare related. Will also include renewal split.

My question is a trade off of commission split for prospecting costs a good idea in other's experience. Any suggestions, experiences? Go to web sales for myself?

Have been getting a few leads from FMO, working 2 days in retail store is generating good leads, as well as pre set appointments from that insurance co.

My activities that I do for me, I want to continue. They would like to make me an independent contractor under their exclusive agency carrier designed contract. Best take a look at that. It's not as restrictive now as in the past, I am told.

 

[jwoo689]

It's illegal to split Medicare comp.

 

[goillini52]

It's illegal to split Medicare comp.

Then why is there a place for commission splits on all Medicare Supplement applications?

 

[bluediamond]

No jwoo it's not to split supplement's. I also don't know if it's illegal to split Med Adv, unless the person you are splitting with is also certified for the same company you are and writing it with then it's not illegal. What is illegal is to split any comp with out the other having a like license.

 

[jwoo689]

I meant advantage and part d sorry. It's in cms training when you certify. Don't sell many supps in South Florida

 

[benefits365]

I meant advantage and part d sorry. It's in cms training when you certify. Don't sell many supps in South Florida

It is illegal to split Medicare advantage and/or part d commissions unless the other party is licensed and certified for each product you intend to comp them on. It falls under the anti-kickback statute, I believe.

 

[yorkriver1]

The plan would be for them to get certified in the same carriers as I am, so that part would be OK. They are talking about the policies belonging to them, and it's kind of interesting, if I write the policies, is it like P&C, where the primary agent can own the renewals written by the licensed sub agents?

My question is about agent's experience with this sort of arrangement, as far as success, making good income, pitfalls to avoid, etc.