cyberskeet
New Member
- 7
I am in the mortgage business and always have been, I am thinking of getting out and into insurance sales or maybe investnebts somewhere like fidelity.
However I do know hundreds of loan officers and they could refer me a ton of business for Home Owners Insurance business and that opens the cross-selling floodgates. I think anyone in their right mind should at least have a term life policy covering the amount of the mortgage in case you die and leave your family with a bug mortgage payment.
So I am wondering, does anyone know what companies pay the most commission for HOI policies? What is the standard amout (precentage) roughly an agent can expect to get from a HOI policy?
Do any companies promote HOI policies more than other types of insurance and thereby incent the salesforce accordingly?
You may not be able to quote names of companies publicly so if you want to, PM me.
It might be hard to say which company pays more than another on that type of policy, heck it could be regulated for all I know. But at least answer me this, should I be looking at big firms like Allstate and Farmers or small brokerages locally (fort worth Texas) like Wortham Insurance?
In mortgages, the large companies have a lot more overhead and therefore they want to keep most of the profits to themselves, so loan officers make less money at larger banks in terms of how many basis points they get.
Any ideas?
However I do know hundreds of loan officers and they could refer me a ton of business for Home Owners Insurance business and that opens the cross-selling floodgates. I think anyone in their right mind should at least have a term life policy covering the amount of the mortgage in case you die and leave your family with a bug mortgage payment.
So I am wondering, does anyone know what companies pay the most commission for HOI policies? What is the standard amout (precentage) roughly an agent can expect to get from a HOI policy?
Do any companies promote HOI policies more than other types of insurance and thereby incent the salesforce accordingly?
You may not be able to quote names of companies publicly so if you want to, PM me.
It might be hard to say which company pays more than another on that type of policy, heck it could be regulated for all I know. But at least answer me this, should I be looking at big firms like Allstate and Farmers or small brokerages locally (fort worth Texas) like Wortham Insurance?
In mortgages, the large companies have a lot more overhead and therefore they want to keep most of the profits to themselves, so loan officers make less money at larger banks in terms of how many basis points they get.
Any ideas?
