GR 2011 Commission Going Live Today

[ABC]

Sounds to me that we are seeing a trend with the carriers.

In the last year I have written a good amount of biz with GR.


How many individual health agents on this forum will be left?

 

[ins.dave]

Somarco: I do as well, but the superstar GR agents - most of them - are scumbags...They could give a s#@ about all the riders, and their victims are even lucky if they tell them the policies are issued with a rider. I know personally agents that tear off GR rider pages before they mail them to clients. Because GR issues policies the way they do, the rider pages can be pulled off and the public buying the GR policy may never know about the riders...IT HAPPENS ALL THE TIME. Its hard for me to write even 3 GR deals per month because of their retarded underwriting...Anybody doing mass volume, I tell you - 8 times out of 10 isn't mentioning the underwriting process or riders, they are just taking applications...Take this truth to the bank. So most of the agents going forward selling massive amounts of GR are going to be the same - bad health agents.

You guys talk like they will be the only company to pull this b.s. ... please ... they've lowered the bar now ALL will do the same in order to compete.
She's a done deal lads till 2012 and repeal.

 

[Crabcake Johnny]

If you're still around then you're not going anywhere at 10% to 15% comp.

The "I need my 20% weekly advance for gas in my car" agents bailed months ago.

 

[YouGotMyMoney]

Waiting to see it in writing - but 12/4 for 49-99 keeps independent agents in business. Pay cut? Sure. In business? Yes.

My last full year of indie sales was 720K. That would translate to 86K. That's obviously with no marketing.

If it cost $80 to gain a client and average premium was 3K that's 240 cases which is 20K in marketing costs. So my net would have been 66K.

Would I have worked for 66K at home, no boss? Better bet your a**. With some modest cross selling you can kick that up another 15K.

Sure, but one of my concerns is "cash flow".

Take GR for example, at 12% and a 6 month advance.

That's an advance of 72% of the monthly premium, take $300 mo x 72% = $216 advance.

Before they lowered advances, it was 20-22% and a 9 month advance, more like a $540 advance....

Internet leads are DOA.

 

[ABC]

I hope you are right about the web leads beign DOA!

 

[Crabcake Johnny]

It's great news for the players. It means a workable career for them and those with cash flow can still buy leads.

Keeps the "gas tank's on empty" agents on the side lines. Can't see a problem that. Only problem is if you're trying to recruit.

 

[CHUMPS FROM OXFORD]

GR will be ratcheting up their bonus program, which will help.
GR's rates aren't bad in some areas. The single family deductible on their HSA is also helpful in some situations.

 

[Crabcake Johnny]

New law on the books in MD as of last year; anyone coming to the table with creditable coverage cannot have pre-ex excluded, so GR now rates those policies instead of riders.

 

[dgoldenz]

If you're still around then you're not going anywhere at 10% to 15% comp.

The "I need my 20% weekly advance for gas in my car" agents bailed months ago.

At 10% comp on $300-400 average premium and the work that goes into most GR cases, dealing with riders, re-shopping when clients are unsatisfied with the offer, not worth the time and effort. Anthem has the easiest underwriting around, no riders ever, no 30-day wait, no immediate premium draft and pays me more than that. For less than what Anthem pays, I might as well sell something else. Single person policies with $100-200 premiums wouldn't be worth the time just to maybe make an actual full year commission of $100-250.

 

[bill3173]

If you're still around then you're not going anywhere at 10% to 15% comp.

Good one. If you're reading this, you're not going anywhere. Where? Med Supps? Then you can make 20% of $100 rather than 10% of a $1000.

My avg. health premium is $431.97/monthly, my avg Med Supp is ~$100 but will be a little higher next year.