Gifts for Referrals??

Discussion in 'Final Expense Forum' started by HoosierLife, Feb 17, 2013.

  1. HoosierLife
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    I have heard some of you guys offer gift cards or money for referrals. First off, is that ok? I thought I read somewhere that's like sharing commissions with an unlicensed person.

    Secondly, for those that do this, how much do you give away? And I assume its only for those that buy, not just a referral.
     
  2. jdeasy
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    I give $20 gift cards to ther favorite restaurant for referrals.
     
  3. TDFnCali
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    Check ya state for rules of what u can & cant do....usually its something pretty small, if anything!
     
  4. Newby
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    Up to $25 value is usually OK except for MAPD which have a $15 per year limit.

    It's important to give it for each referal NOT the sale. If you tie it to a sale you can't even give anything.

    I tell mine that it's for a referral to someone who wants to sit down with me and discuss insurance. If it's just names, that's not a referral. If they call them and get me an appointment, that's definitely a good referral.
     
  5. Rearden
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    What are y'alls thoughts on gift-giving in reference to the Free AD&D Program American-Amicable allows for its agents?
     
  6. HoosierLife
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    That's what I was going to do lol but I have that offer on the back of my business cards. Nobody's taken me up on that offer yet and I've handed out over 300 business cards in the last 6 weeks.
     
  7. TDFnCali
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    When I 1st started last yr, that was my plan....then after reading over the diff carrier's products, I saw no reason to use Am-Am, so I felt I better not hand that out unless Im giving biz to them. I ended up NEVER using them, and they let me go for LOP! Oh well!
     
  8. Todd King
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    1st off, it's a measly $1K coverage that only lasts one year. I've never had one agent telling me it actually worked.

    American Amicable was going to completely do away with it but then decided to allow certain IMO's to continue with it if they wanted to. The IMO's were to print the policy and everything. Not only that, but you couldn't continue to do it if you didn't sell so much Am Am products. That's very understandable.

    So, the way I've always looked at it is if American Amicable couldn't make it work, it probably wasn't going to work. So far, you can't prove it by me that it has.
     
  9. captain94
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    I used it or should I say tried using it. All I got was caught up into a bunch of prospects that had no money and they all wanted was "Free" insurance
    It was a waste
     
  10. Rearden
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    Well, Securus loves promoting the free insurance stuff through AmAm.

    I think you can have equivalent success simply asking after tsale and delivery of the policy.
     

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