Companies That Advance 1st Yr Commissions

[bluebunnyins]

I've been in the insurance field for a little over a year now. I started out working for a captive company selling life, ltc, med sups, and annuities. I then moved to a captive health insurance company, but only worked there for a few months. I've since been an independent going through a brokerage. I've been use to commission advances but now I find that many non-captive companies don't advance.

My main focus is still health insurance which brings me to my question. Are there any descent health insurance companies that advance full year commissions? I'm sure I could write for Cinergy but I'd rather go broke.

 

[bluemarlin08]

Be very carefull regarding advances. I do about half my business with advances, the balance as earned. You will have some chargebacks, make sure you have planned for this. My system works for me but I am leaning to do more as earned.

 

[djs]

If you go advanced, make sure you set aside money in reserve for chargebacks when they occur.

In California, carriers with health insurance advances are pretty slim. I have no idea about other states.

 

[TheSalesWolf]

You would need to go through a General Agent to get advances with most carriers. If you already have direct appointments then sometimes it is tough to move your appointments.

There's several to choose from. HealthChoiceONe is good and AHCP.
HealthGeneralAgent.com as well.
We offer advances with most of the major carriers.
We pay out commissions at or above street level.
We offer extensive 1 on 1 training along with daily webinars (free of charge, unlike some of these other Rock Stars and Associations)

 

[moonlightandmargaritas]

We offer extensive 1 on 1 training along with daily webinars (free of charge, unlike some of these other Rock Stars and Associations)

I get the impression that you're not too high on Liano and Petrowski?

 

[bluebunnyins]

Thanks for the info. I'll look into every option.

 

[jbage007]

You'd be better off going back and selling used cars.

 

[MOHEALTH]

Be very carefull regarding advances. I do about half my business with advances, the balance as earned. You will have some chargebacks, make sure you have planned for this. My system works for me but I am leaning to do more as earned.

If I were starting over from scratch I would take this appoach from the beginning. unfortunately I got some bad advise from a self proclaimed "Expert" on this forum who said I would be crazy to not take advances. WRONG!! This goes totally against the point of being in insurance.

I would say do a 60/40 split to start. 60 as earned & 40 advanced with the goal of being 100% as earned after your first year. You'll save yourself a million headaches. Dont fall for the all advanced bs. Its a losing business model in the long term.

 

[bluebunnyins]

I'm looking into all options and, hopefully, I'll know my discission at the end of this week. What questions should I be asking these brokerages? I would like to eventually go direct.

 

[eza4short]

Can an agent set split commission up with the a General Agent? Or is that all up to the GA? I know a GA who has Advances through Golden Rule but all the commission is paid though the agency so in that situation is it possible to do split commission?