HealthMarket

[Crabcake Johnny]

We can't answer that since everyone has different bills. As for me, as my income started to go up I did my job as the typical American and started spending more. My wife and I had a nice conversation and stopped that crap immediately. We're now a one car family and we have a 6 year old paid off Pontiac Grand Prix and next to no bills. That's the only way I can pull off paying my wife (which I do) and paying a marketer.

It takes a while to grow the business and "six figures" doesn't mean you have any money. Take $100,000 for the year. Now figure in fed, state and self-employment taxes and at least 35% is gone. That's $65,000 and take out expenses and you might be left with $40,000 or $50,000. That's $800 to $1,000 a week take home and this is why most agents go into financial ruin.

Years ago we had two car payments totalling almost a grand. Throw a mortgage on it and you can see that most three weeks of pay vaporizes and other bills haven't even been paid. That's $2,000 a week gross pay. We had to pay down the bills and boost the income. You're ahead of the game of you have a working spouse.

No one said this was an easy career to start.

 

[cadylou]

thanks for the input

I understand nothing is easy - and I've never had a working spouse, so it's always been all me. I have a mortgage to pay & some credit card bills (some of which were used to get started), but other than that no big bills.

Anyway, thanks for the input. I was just trying to get a feel for how "big" people were before hiring any help. There don't seem to be enough hours in the day . . . . :wink:

 

[insuremojo]

Yes, and you'll never be able to farm out stuff like that. My wife takes care of admin work which frees me up and I have a telemarketer. This way when I'm unable to make the calls myself at least I'm still getting leads.

If I had to do all my marketing, all my admin work, deal with renewals and deal with claims it would never happen. It's impossible.

I would have to say that hooking up with an agency has greatly helped me as far as my health sales go. I have support staff that helps out with customer service issues (or at least takes messages), mails out cards to my clients (birthdays, reminders, etc..), you know the administrative stuff. Free's up my time to be prospecting.

And since nobody else knows a lick about health insurance in the office I get all leads (internet, referrals, walkins, shows).

Granted it may not be for everybody...I'm doing this after being completely independent for about 6 months...man was that an eye opener! I didn't have enough support...couldn't get my wife to help out a couple hours a day...did not have a steady income although we were doing fine financially but there were times when just like john says I too was eating some ramen noodles LOL. I might technically be "captive" but I don't feel like it. I'm still 1099..set my own hours...and write who I want when it comes to Health...if P&C then Nationwide gets 1st right to deny then I can broker out.
It might not be for everybody but after I get about 3-5 years experience in the biz I might take another shot with going independent. Especially since I also have my Fire&Casualty license too.

**Disclaimer**
For those who don't know how it works the agency does get a cut of my commissions . I get raped for 2.5% I thought that was ok but once I post this I'm sure some of the senior agents will rip that to shreds but I also get a guarantee :wink:

 

[James]

Yes, and you'll never be able to farm out stuff like that. My wife takes care of admin work which frees me up and I have a telemarketer. This way when I'm unable to make the calls myself at least I'm still getting leads.

If I had to do all my marketing, all my admin work, deal with renewals and deal with claims it would never happen. It's impossible.

I would have to say that hooking up with an agency has greatly helped me as far as my health sales go. I have support staff that helps out with customer service issues (or at least takes messages), mails out cards to my clients (birthdays, reminders, etc..), you know the administrative stuff. Free's up my time to be prospecting.

And since nobody else knows a lick about health insurance in the office I get all leads (internet, referrals, walkins, shows).

Granted it may not be for everybody...I'm doing this after being completely independent for about 6 months...man was that an eye opener! I didn't have enough support...couldn't get my wife to help out a couple hours a day...did not have a steady income although we were doing fine financially but there were times when just like john says I too was eating some ramen noodles LOL. I might technically be "captive" but I don't feel like it. I'm still 1099..set my own hours...and write who I want when it comes to Health...if P&C then Nationwide gets 1st right to deny then I can broker out.
It might not be for everybody but after I get about 3-5 years experience in the biz I might take another shot with going independent. Especially since I also have my Fire&Casualty license too.

**Disclaimer**
For those who don't know how it works the agency does get a cut of my commissions . I get raped for 2.5% I thought that was ok but once I post this I'm sure some of the senior agents will rip that to shreds but I also get a guarantee :wink:

No one is going to rip on you and if they do disregard them, life is just too short. 2.5% aint bad if you get something in return, it does sound like you do.