Deciding on Being a Genworth LTC Specialist

[CALTCAgent]

It is my understanding that they will pay you $15,000 plus full commissions the first six months, you can have a 60/5 contract or a 80/1 contract, and you don't pay for leads the first 12 months. You must produce $50,000 AP, and 50% of that has to be agent generated business. The $15,000 is not a draw nor advance.

How many leads does an agent get?

If they are free, I'll bet you don't get many, if any.

The agent would have to pay for leads on their own to be "agent generated". So at least 50% of leads are out of pocket.

Sounds like the typical system of keeping renewals. 1% is pretty low.

They can play games with the leads, as most captive shops do.

 

[billberry12]

You could be right on all counts. I have no idea.

 

[caligirl]

Great Info! Thanks guys!
billberry12 you are right based upon what I was told on the first year bonus. The commission/residual ratio is chosen by me and I can change it once a year if I want. I would initially get leads and then eventually have to pay for them after the first year. I'm thinking the jumpstart on the bonus and leads helps set the ball in motion which we all know is often the hardest part or at least where alot of energy is spent.

 

[billberry12]

Is there a catch to the $15,000? (Read every word of the contract very carefully) How many leads are they promising you? (That number will not be in the contract, watch out!)

 

[CALTCAgent]

There will be a catch to the 15K, they won't give you something for nothing.

Find out how many leads and of what nature. You won't get any promises here.

Don't forget you must self generate at least 25K on your own. That means getting leads on your own for this part.

Do you know how to self generate?

If not you won't be on that program very long, I'm sure.

 

[caligirl]

Yes, I do know how to self-generate. 100 leads is what I was told so that's 100 more then I have now! Lol Thanks for all the heads up. I will double check everything.

 

[billberry12]

100 leads over what length of time??

 

[CALTCAgent]

Yes, I do know how to self-generate. 100 leads is what I was told so that's 100 more then I have now! Lol Thanks for all the heads up. I will double check everything.

I hope this doesn't sound wrong, trying to help here, but....

If you know how to self generate leads, why don't you have any? ("100 is more than you have now")

I noticed you were at Bankers Life & Casualty for 2 to 3 weeks.

100 leads is not much.

Who has access to them besides you?

How long to work them, etc

 

[b61mack]

I say go for it. The tranning alone is worth it.

 

[ltcadviser]

I say go for it, too. In CA, Genworth has the best current rates so you simply need to find people concerned about planning for LTC.