Going through a rough patch

[ABC]

I have seen a few of these plan designs and they have limited coverage at best. So it does not surprise me that they are giving advances on sales.

 

[taterpeeler]

not all of them... the point was the advancing marketing agencies.... there are a host of them out there where the owner sets up funding and advances the commish himself via assignment of commissions....then he has you by the balls. yes, mega and ua are limited policies but there are advance deals on aetna, humana and fidelity security and the like where the agencey is fronting the advance. they prey upon the dumb or desperate people in our industry

 

[moonlightandmargaritas]

Instead of taking advances, I play No Limit Hold 'Em tournaments.

Cashed for $402 last Thursday night. 3rd in a 78 player, $45 buy-in.

Amazing performance as I went to the final table as the short stack, and survived three all-in's...

Sat and watched folks beat themselves.

 

[Crabcake Johnny]

If you really want to secret to making some money while getting started you need to look into processing loans from home or assembling jewelry. Both pay great.

 

[taterpeeler]

So do I moon... played professional as u know for a short time.... however with the climate of the underground rooms here in dallas... the roberys and police raids(little traffic ticket, they just want the cash) my wife was growing very tired of that...i got a run of cards when i was playing in a tourny in Europe and just flat retired after the score. The trade off with her was we join a golf club if I would retire.... so, now, every day at 430 I am at the club(most days) They do have a poker game every two weeks but I won the first 2 I played in and I no longer get to play there....

 

[MOHEALTH]

Amazing, I make one little comment about being happy that I’m as earned and the board exploded about the pros and cons of advanced vs. as earned so I feel compelled to comment and share my thoughts.

Getting an advance from the carrier vs advanced from some MGA is a mighty big difference, as I will attempt to explain.

In my view advanced agents thru MGA’S make decisions that protect their pocket books and what is in the agents best interest, not the clients best interest. This is not all the times, but most times… Here’s why. When the MGA or marketing agency is advancing the money you are completely in bed with that company and the carriers he reps. If he only has companies like World, Fidelity Security and lets say Assurant and he provides leads you have only one choice but to only write his products. The client in this case doesn’t get the option to see the other carriers like Aetna, UHC or Unicare just to name a few. Most times the advancing agency “leans” on the agent via threatening to terminate leads if he writs for other carriers under the MGA’S nose. These advancing agencies most times offer trips as incentives to these “captive” agents. In the event, for whatever reason you choose to leave the agency you also have just left your block of business in his file cabinet for him to hand off to another agent in his pond and “boom” debit balance created and vector hit a commin’. That is not your business… period… I don’t care what you say or think… it happens, advancing MGA’S are all crooks thieves and liars.

Since the above referenced agent is most times living pay check to pay check he falls into desperation mode and runs out when he leaves and flips the client even when it is not in the clients best interest. This agent is in a pickle when rate increases happen cause most times the agency wont pay new commissions and will terminate the contract if the agent rolls the biz when the client needs to be rolled.
So…. Bottom line, getting advanced via advancing agencies like UBA, NASE, UA, Medical Benefit Group and others is just flat wrong and can be painful to your future.
Also don’t forget the assignment of commissions feature that so many advancing agencies require… that is the total kiss of death. And the massive interest that the agencies charge.

OK… now, the 2nd route, Advanced by the carrier…. First off if they charge interest, forget about it… Also, can you control having a client cancel? Loosing their company, taking a job somewhere, getting pissed off at the world…. Wife getting a job and going on that coverage, resencion of policy for fraud cause a client lied on the app… heck, just make up any number of stories…. You have a chance of loosing the client and it just ain’t worth the risk.

Ok, why now in my view do people endorse advancing…. Well, your new and have no other choice… I understand, I was there at one time… but when I broke out it was bye-bye advances….. I busted out at about 8500 bucks a month and now sit on about twice that, my income is predicted and I don’t have to worry, client wants to cancel, fine, I will just write 2 to replace it.

Another reason that people on this board support advancing and push it harder than Bush pushed the war in Iraq is because they have a vested interest in getting non self supporting agents. They sell training to the agents in an effort to pad their pocket books. Without the new struggling agents they could not market their self declared wisdom. Nothing wrong with that I just don’t like it…. Doesn’t mean I don’t like the people as individuals, I do, I just have a different approach and feel I have every right to call them out much in the same right as they have to promote their services.
Boys, you MUST go earned and if you can’t do it right NOW, then you need a plan in place to get there within 2 years. This is the only way to achieve financial freedom and truly protect you clients best interest… when you do that, you will rarely have a client leave you.

FANTASTIC POST!!! I COULDNT AGREE MORE!! WELL DONE PEELER

 

[moonlightandmargaritas]

If you really want to secret to making some money while getting started you need to look into processing loans from home or assembling jewelry. Both pay great.

Like this?

Beaded handmade jewelry - assembly work at home with Artisan

 

[Crabcake Johnny]

Lol.

There's a lot of theory on this board sometimes - not too much in the way of reality.

Reality is if you're in your 40's or 50's, finding some kind of part-time job is not as easy as simply making some post on a board:

"....just go get a part-time job."

Employers are not stupid and they know when you're over-qualified. Go to McDonalds as a 46 year old out-of-work former corporate manager and see if you get hired.

Employers are not going to waste their time hiring and training someone they know is going to blow out the 1st second their "real" job comes through.

Any part-time position where the employer basically doesn't care is typically low paying - $6 to $8 range - work even 20 hours a week and likely you haven't made a dent in the bills you need covered.

Print out some frick'n flyers and hit the streets. Go BtoB for 3, 4, 5 hours a day if necessary, write a lot of business then go buy leads.

This "get a part-time" job concept is so insanely stupid it's almost not worth discussing.

 

[Guest]

I have to say it:

Many people on this forum are exactly like the old guys in the balcony on The Muppet show!! Just putting everything down.

 

[OBI Texas]

I look forward to the time when I can only do "as earned", that's just not now. I recall when I was with MEGA/NASE and would have a slow week, the regional manager would push me to turn in anything whether I thought it would make it through underwriting or not. This because they advanced upon app submission. Glad that era of my life is over!