HELP! I need info on starting my own biz.

[senior-advisor-indiana]

There is no magic lead place. I am using Netqotes right now. THis was suppose to be the best place for life leads from the guy I got a contract through. So far I haven't recieved a real lead. I am not out much at all so I don't really care. My best leads are old leads.

 

[TXINSURANCE]

This deal doesn't pass the smell test. Is it JOHN B. IN ILLINOIS?

For starters average commission is NOT $700 - that is BS unless you are selling large families of self employed and non competitive products. If you are selling to INTERNET LEADS you will find average monthly premium more in the $200 range (or less).

If UNICARE has a 20% contract at $200/mo the ANNUAL commission is $480, back out your lead cost and expense, 20-30 decline / cancel / closed for missing info , back out another 15-30% that cancel within 90 days and what are you left with?

This setup DOES NOT WORK and is even worse on carriers with 10 to 15% commission.

I hired a bunch of independent contractors to SPLIT commissions with the reality is they all went broke there is not enough money in REPUTABLE COMPANIES with INDIVIDUAL HEALTH. Maybe if I were selling MEGA or something with a 50% commission it might be possible - but problems with selling junk as well.

 

[HomeService]

yes, it is something you could do yourself, and here is how. Call your local insurance department and figure out how to become licensed. Have a company sponsor you, get a reputable GA , write Golden Rule or unicare or something as a broker, no advances.

Or, get with a captive like Physicians Mutual and have them train you, then see if you enjoy it, then venture out on your own.

Stay away from advanced commissions because as easily as the business goes on, it also comes off the books, and you owe it back as chargebacks. { and it does not "easily" go on the books -anyhow}

Anyway, you can work for an organization {like a captive company- or a good GA} from home and call it your own business. Calling it a business opportunity is just appealing to your sense of independence, you are an insurance agent or salesman, working from home.

Stay away from depending on leads. Most leads are just a name and a phone number and maybe an address. Get small business people interested, get referrals, network, do not depend upon leads only.