Having an Agent under you?

[gradyinsurance]

Okay, at my church, everyone knows that I sell insurance. We're a small church, and the pastor has another job in addition to his church duties. That having been said, he also was an insurance agent a few years ago, but he let his license lapse. He said that he was considering getting back his license, but wanted someone to work under. He asked me did I have any GA contracts (which I do), and if he gets back his license, can he contract through me?

What do you guys think? I've never done this sort of thing, although my father was a MGA, with around 40 agents in his hierarchy, but that was over 10 years ago. What is an acceptable commission to pay someone under you, in a scenario like this. I'm not really looking to have another agent under me, but the pastor is my friend, and if I could help him out, and him help me out, I don't see anything wrong with it.

Ideas appreciated,

Dave

 

[Crabcake Johnny]

What you'd really be discussing with him would be his goals and marketing. If he really just wants to pick up the occasional deal off friends and referrals doesn't sound like an issue. If he wants to make steady part-time income leads or marketing would have to be discussed.

 

[ryan07]

Well yea it will be a perfect idea and by doing this our work load will be reduced , thanx buddy make the job more easy....

 

[David C]

Give him an as earned contract, no advances.

 

[CHUMPS FROM OXFORD]

A pastor with two additional side jobs...I'm sorry, but I would rather get my coverage elsewhere.

Although, I'm sure his sermons are nice.

 

[STIBROKER]

are we discussing have a pastor under you.....I did not know they had catholic pastors.....

 

[Brad Howard]

HealthAgent is right, if it's just the occasional sale and general assistance set him 10 pts lower. If he, case management assistance, case design help and/or promotional assistance then it'll have to be much lower. Set the agreement that if he does "x" you can certainly pay out more.

I've found it interesting how many folks from the church HAVE to work additional jobs to make ends meet or to plan for their own retirement. Given the huge hours they put in, I don't see how they do it. CFO raises a good point, but then you will be the the servicing agent if/when he leaves.

Bet he just wants the few sales per month....

 

[warrenins]

What type of insurance does he want to sell. Just health/life or p&c, or both? I think splits depend on the type of business he wants to sell. P&C generally requires more service, therefore the commission is lower. Is he going to service his own book, or do they call the office. Will it be taking time away from your ability to sell. Those are questions I would ask myself when talking about splits. Another thought is, what about errors and ommissions insurance. Life and health is generally less expensive

 

[gradyinsurance]

He would only be selling Life and Health, and he would probably doing under 5 sales per month, mostly final expense.Dave

 

[Jenananda]

I think it's best not to have him under you. REason is, he's probably not committed to focusing on 5 or more sales a month and the time you spend working with him will cost you more than you realize. Help him in other ways, or let him help you by soliciting clients??? (cold calling?) I have some other ideas to and would be happy to discuss with you. A minister here has his wife selling insurance full time.

Jennifer