Does anyone Know of a Million Dollar Medicare Producer??

[Bevo]

Actually I redid some math and realized with the right team and campaigns in place 1M/year is actually a realistic goal in this market!

Now of course most agents will believe it's a delusional thought, But the reality is that it is doable!

Awesome! Now you're on the right track of thinking. It ALL starts with a thought that it's doable. I for one, know it is.

And NOT thinking like most agents is a GOOD thing. If you think like most people, you get the results that most people get. I personally don't want those results.

It is normal, or average? Nope. That's why most people say it can't be done. They're used to normal and average.

Would it require major sacrifice, time and effort? Yep.

Again I'm not saying everyone should strive for it. In fact in many of my posts I'm just saying "Have a goal to strive for in the first place."

Reaching goals is all about planning and execution.

But, if you say it can't be done, you're merely saying that YOU can't do it.

Now $2M? Not so much. Every man and woman needs to know their limitations.

Cheers!

 

[cjwestfall]

I nominate Bevo president of the senior insurance forum.

I second that nomination!

 

[jacobtn]

Therefore, if you write the same premium as you write in med supp, any income goal is more in reach with products other than Med Sup.

True but Med support premiums average much higher than fe or cancer plans, so the overall commission over 6 yrs would be higher I would say..

 

[rousemark]

True but Med support premiums average much higher than fe or cancer plans, so the overall commission over 6 yrs would be higher I would say..

If you are writing FE you would probably have to write twice as many policies... Cancer about the same. .. However, you have a much broader base for sales in either market... In the non FE life market, my average life premium has been about the same as med supp. The key on either is for an agent to work what they like... You will be more successful (not necessarily in terms of money) if you love getting up and going to work each morning.

 

[Bevo]

The key on either is for an agent to work what they like... You will be more successful (not necessarily in terms of money) if you love getting up and going to work each morning.

Agreed 100%!!!!!

 

[sshafran]

Along the same lines of being a "million dollar" medicare producer...

I've often wondered if the "P&C Model" would work if someone wanted to own a "small shop" with salaried agents writing policies for the agency.

I don't know too much about P&C, but from reading on their forum every once in a while it seems like a lot of agency owners will hire agents and pay them a salary of, let's say, $40,000 per year - with small commission incentives but it's more salary driven.

Just thinking out loud, if you had an office fully set up for production and you had enough room for a few agents - could you offer $40,000 per year for some new agents to come in and work your system? They would think of it similar to any other "inside sales" job out there...

Assuming you have a system to generate leads. If they are salary, you could even require a certain amount of cold-calling as well...

Another advantage is controlled training. If they are w2 employees, you have control.

If they closed 200/yr, the math works. Funding the salary up front is where it gets tougher to execute...


Anyway, just thinking out loud on a Saturday morning before I have my coffee. Feel free to call me out if the idea is crazy.

 

[Bevo]

Along the same lines of being a "million dollar" medicare producer...

I've often wondered if the "P&C Model" would work if someone wanted to own a "small shop" with salaried agents writing policies for the agency.

I don't know too much about P&C, but from reading on their forum every once in a while it seems like a lot of agency owners will hire agents and pay them a salary of, let's say, $40,000 per year - with small commission incentives but it's more salary driven.

Just thinking out loud, if you had an office fully set up for production and you had enough room for a few agents - could you offer $40,000 per year for some new agents to come in and work your system? They would think of it similar to any other "inside sales" job out there...

Assuming you have a system to generate leads. If they are salary, you could even require a certain amount of cold-calling as well...

Another advantage is controlled training. If they are w2 employees, you have control.

If they closed 200/yr, the math works. Funding the salary up front is where it gets tougher to execute...


Anyway, just thinking out loud on a Saturday morning before I have my coffee. Feel free to call me out if the idea is crazy.

If you mean a P&C model being adapted to Med supps, then yes it's not crazy in fact it's being done all around the country. I myself have three agents, though I compensate them extremely well (Better than anyone I know in this industry). Expectations however, are very high. But they all know if you want the big prize you need to put in the effort.

Most of the other agencies I know with the model you're describing have ridiculously high turn over and of course are always struggling to get leads. It has to be a fine-tuned, well oiled machine to work successfully, with several motivating factors that need to be identified of your people.

And you can't be greedy, like so many agency owners are out there. Most aren't "people" persons, they're strictly numbers/corporate types and that causes massive resentment in many cases. Hence, massive turnover.

 

[jacobtn]

If you mean a P&C model being adapted to Med supps, then yes it's not crazy in fact it's being done all around the country. I myself have three agents, though I compensate them extremely well (Better than anyone I know in this industry). Expectations however, are very high. But they all know if you want the big prize you need to put in the effort.

Most of the other agencies I know with the model you're describing have ridiculously high turn over and of course are always struggling to get leads. It has to be a fine-tuned, well oiled machine to work successfully, with several motivating factors that need to be identified of your people.

And you can't be greedy, like so many agency owners are out there. Most aren't "people" persons, they're strictly numbers/corporate types and that causes massive resentment in many cases. Hence, massive turnover.

The ones I know own pay a salary base plus bonus per app is that what you are doing as well?

 

[Glen Shelton]

The ones I know own pay a salary base plus bonus per app is that what you are doing as well?

I think this model really works best at a single location.

I have seen companies try to scale the "salary" model and it seems you attract the dead beat agents who stick around to collect a check every two weeks.

This was an agency that focuses exclusively on life which I think made it a little tougher as well.

 

[Key2Success]

The ones I know own pay a salary base plus bonus per app is that what you are doing as well?

probably WAMPUM, WHISKEY AND TRINKETS!