GR 2011 Commission Schedule

[pahealthquotes]

IMHO over 60's can be the most profitable leads out there. What I encouter is a large percentage of the time you have either the husband or wife retiring and one already medicare eligible. I call this a 3 in 1 sale. You write the under 65 a health policy, the spouse a medigap policy then 2-3 years down the line whammo you cash in again when the u 65 becomes medicare eligible. Its almost like UHC knows this and wants the agent to turn away from the 60-64 crowd. Cant figure it out....

 

[dgoldenz]

I find very, very few people in their 60's who can qualify with GR, let alone qualify without 2 or 3 exclusion rider...

 

[pahealthquotes]

the ones with questionable health history.. I will advise them to apply with 2 co's simultaneously. Maybe BCBS/GR or BCBS/Coventry. If both deny coverage , I will recommend Guarantee Issue coverage. No commission but I gain thier trust for the medicare sale later on. still like the 60-64 bracket because it opens up so many windows.

Cheers,
Joe

 

[retread]

How 'bout them Assurant commissions? You get your letter today?

 

[Guest]

You did 50 plus last year? Nice!!

Thankfully I got 12% for my agents.

I got 12% Out of em....

 

[Crabcake Johnny]

GR agents writing 100+ is 14%.

 

[Guest]

I can see how many MGA's can be concerned or have to undercut commissions due to their overhead, thankfully my model is not like that, I structured my agency with health reform in mind and now it's paying off, my agents are not getting less than what they deserve.

If I recall correctly, you (John), like myself, had been discussing potential changes for a year or two, we both had mentioned at one time or another to keep doing biz as usual but prepare for the changes starting now, and now was in 2009.

GR agents writing 100+ is 14%.

 

[Crabcake Johnny]

Carriers had some very tough decisions to make - keep the MGA spread the same and pay very low street levels, or max out on the street levels and give their distribution levels very low overrides.

It was decided to max agents out on street. Why? Because it doesn't matter if some MGA gets an 8 point spread if the agent's at 8%.

There's fear though. The carrier distribution channels are major recruiting mills and provide the carriers with a significant amount of business. With far less of an override, this will be an experiment. Can MGAs really make it work? If not, the carriers will have to figure out how to get agents to go direct.

 

[Guest]

Well the MGA's who offered nothing to agents other than comp (and maybe advances) and encouraged their agents to flip their business every year to maintain higher comp levels are hopefully the ones who are in a precarious position these days.

Carriers had some very tough decisions to make - keep the MGA spread the same and pay very low street levels, or max out on the street levels and give their distribution levels very low overrides.

It was decided to max agents out on street. Why? Because it doesn't matter if some MGA gets an 8 point spread if the agent's at 8%.

There's fear though. The carrier distribution channels are major recruiting mills and provide the carriers with a significant amount of business. With far less of an override, this will be an experiment. Can MGAs really make it work? If not, the carriers will have to figure out how to get agents to go direct.

 

[Crabcake Johnny]

Certain MGAs encouraged their agents to flip business or flipped it themselves. They have either lost their contracts or have been put on notice.

There is no longer any wiggle room. Carriers have to be profitable and as we know, first year premiums are a loss for most carriers who count on subsequent years to turn a profit.

Persistency is going to be key and heavily monitored in 2011.