Humana commissions

[Crabcake Johnny]

The GA is bringing the advance, and possibly leads. Also, their insight and support. The dialogue can be more liberal about processess: taking apps, pitch, closing, etc. vs. working directly with the company.

Then there's the retention factor:

If I spend my time training and developing an agent, I don't need Crabcake and cohorts recommending my agent to transfer to another agency.

I take my sub agent's calls for advice or help day after day. I spend hrs and hrs with these guys. You're GD right I want to keep them. I do the REAL work and the other agency just snipes my agent away? Not on my shift. That agent will definitely sit out for 6 months before I sign a release.

This has only happened twice, however it was ALWAYS due to greed -to make a slightly higher commission. Loyalty is in the toilet these days so I'll do what I have to do to protect my investment.

Crabcake's over there sayin "hey guys, sick of putting a few extra points in your GA's pocket after they taught you all you know? F your GA. He should give you more $. C'mon over to ________ company and get this %"

This is why I rip on Mr. Crabcake. He's an overly liberal moron and not a businessman. He doesn't even sell insurance. He's busy teaching agents the kind of information that is EARNED over time. You think his "students" are gonna stick around giving him $20 a month for long? They're gone in 3 months tops. He'll lose money running this operation vs. selling insurance! His highest level of education is a HS diploma and it shows.

Are my posts angry? Yes, when my livelihood may be threatened.

It is not my intention for you to work hard, train agents and have them blow out for higher commish.

It's my goal that over time you lose the ability to recruit so you never get new agents in the first place.

You think I'm going under in a few months? That wouldn't be my bet.

Also, my membership fee is yearly - not monthly. Members can pay $199 upfront for the year. If they choose recurring, it's recurring for 12 months - auto-draft.

 

[somarco]

GA's & IMO's are a dying breed. Not just here, but almost any industry that uses 1099 salesmen (and women).

You are constantly recruiting. Looking for fresh meat. Most of the rookies flame out after a few months. Once you do find someone who is able to make it they are on to the next deal with higher commissions.

Trying to lock them in with non-compete wording or refusing to give them a release is just stoking the fire. They will find a way to beat you at your own game.

I know, because that is what I did with every GA that tried to handcuff me.

The agency system has all but died out over the years. A few carriers still make a go of it, but not many and most no longer hold the "captive" sword over the heads of their agents.

The distribution system from carrier to client (life & health) is so streamlined there are few, if any, economies of scale to appoint a "super GA" and pay out a higher commission than there is to have a bunch of agents direct.

And most carriers have all but eliminated regional field offices.

The only main carrier I run thru an IMO is KP. At the time I was appointed with KP they did not contract agents direct. I assume (but have no way of verifying) the GA is still getting overrides on my KP biz, even though I submit direct to KP and handle my own service issues.

I have relationships with all my carriers and can get much more done, and done quicker, by going direct vs. going thru some IMO that is more interested in playing golf than helping me write or retain my business.

 

[insureagent]

you guys sound like a bunch of old maids, man where is the attitude. If half of you represent most of the competition out there than no wonder this business is soooo easy. I joined this forum expecting to listen to a bunch of winners and what I got are a bunch of whinners. Give it up or move on.

 

[Crabcake Johnny]

Well said and I'm guilty - back to positive productive posts.

 

[theinuranceguy]

Although I am not on sell Individual Health, I do sell Insurance, and also, very openly a recruiter, All my agents come in as a GA... Very Few FMO's would do that, All my agents get a release at any time..... Very Few FMO's would do that...

And guess what, I have never had somone ask me for a release, NEVER. Even if someone got a higher deal somewhere else, they wouldnt leave, because as their upline, I treat them as a client, I fight for their business, I send out birthday cards, I take care of them, answer their phone calls, follow up with them, order supplies if they dont know how, help answer questions if they dont know the answer, and let them "lease" my telemarketers at the same it cost me to pay her... and the funny things is that almost 100% of my downline is contracted with more than one of my carriers, and when they want a new company they call me to ask if I got it.

Any IMO/FMO that does not release at anytime is not worth contracting with....

All this, and I still make time to go out in the field to sell insurance...

What John is doing is a very honorable thing, I wish he had some senior training so I could refer my newbies to him, and many People dont like what he is doing because he exposes the rip offs out there in insurance....

Below Street, No Release, and Assignment of commission for an Independent agent is 9 times out of 10 a Rip OFF

 

[InsuranceBenefitsGroup]

I have 6 agents that have been with me for 5 + yrs. Do you understand the value of these agents? Yes there is attrition, and yes you keep recruiting. It's the price of doing business, big business.

Ramiz, you da man however people may not like how he might dilute the value of a GA with his "factoids". This might make a GA seem a bit concerned, at times a bit hostile. Those GA's might think it's interesting how the president of an insurance agent assn, that was never a GA, might know anything. See where I'm going? LACK of credibility, COMPLETELY.

I'm with Ramiz. I don't have agents asking for releases. If you take care of your agents, they'll stick with you.

Insureagent, keep listening with caution. There's a lot of righteous idiots here spewing BS. They busted out of where they started 2 yrs ago, now they know it all. They'll have you filing bk after you blow all your money on doorhangers.

 

[theinuranceguy]

I have 6 agents that have been with me for 5 + yrs. Do you understand the value of these agents? Yes there is attrition, and yes you keep recruiting. It's the price of doing business, big business.

Insureagent, keep listening with caution. There's a lot of righteous idiots here spewing BS. They busted out of where they started 2 yrs ago, now they know it all. They'll have you filing bk after you blow all your money on doorhangers.

I dont know if this was directed toward me or not or if I am one of the "righteous idiots" "spewing BS" but Ill Bite...

From Marketer to Marketer I totally understand where your coming from, to build a big business recruiting helps, trust me I know, I recruit more than I sell...

But this is where our paths split...

Agents need to have a release at any time... not because they will screw you, but because it allows them to trust you, you work for their business... a release is there to protect the agent, but what is there to protect if your a good Marketer, trust me I mess up, alot, sometimes Im spread so thin I dont have time to follow up with agents, but IM honest, tell them I also sell, tell them Im sorry, and we move on... People dont want a release because you dont return phone calls or because someone is paying higher, people want a release if your a total Jackass, not saying you are, but I am not....

I also give out GA levels to agents with NO production requirments because it costs me nothing but a difference in override when it comes to my downline... sure it costs me time, sure I get frustrated, but so what, thats business, Im a one man show and have a pretty decent downline, Never had someone ask me for a release....

I love what I do, I can go to almost any major city and buy lunch for an agent of mine, there is a mutual respect...

If a Marketer is making someone wait 6 months with no business writter, nobody benefits and it only gives the Marketer a bad name, Just let them go...

I got nothing to hide, Everyone knows my name, office address, phone number, and email.... I dont have anything to prove here, and I am not Marketing myself as an expert,

I can tell you that Independent agents dont want much from a Marketer...

They want High Commissions, Release at anytime, and paid directly by a carrier, thats what I got... nothing else is promised, maybe thats why Im successful, I dont promise the mountains a deliver an ant hill... I promise the simple and follow through...

Anytime an agent calls me for status of an application I tell them to call the carrier, when they call and ask about commissions I tell them to call the carrier,

I dont do much other than feild questions and direct agents in the right direction... Life is great...

Dont take this as challenging you, I frankly dont care how you run your business, Im sharing with new and seasoned agents how I run mine, and I think mine is the best that I know of.... thats it.


****EDIT****
As soon As I read InsuranceBenefitsGroup's initial post I replied, he has since changed his post, so if some parts dont make sense that is why, and I dont feel like changing it...

And InsuranceBenefitsGroup you are incorrect.... YOU DA MAN!

haha, take care

 

[Crabcake Johnny]

I have 6 agents that have been with me for 5 + yrs. Do you understand the value of these agents? Yes there is attrition, and yes you keep recruiting. It's the price of doing business, big business.

Ramiz, you da man however people may not like how he might dilute the value of a GA with his "factoids". This might make a GA seem a bit concerned, at times a bit hostile. Those GA's might think it's interesting how the president of an insurance agent assn, that was never a GA, might know anything. See where I'm going? LACK of credibility, COMPLETELY.

I'm with Ramiz. I don't have agents asking for releases. If you take care of your agents, they'll stick with you.

Insureagent, keep listening with caution. There's a lot of righteous idiots here spewing BS. They busted out of where they started 2 yrs ago, now they know it all. They'll have you filing bk after you blow all your money on doorhangers.

I'm not a GA? Could have fooled me. I don't put members under me since that's a conflict of interest. Doorhangers? Members are buying leads - but they're buying exclusive. Others are using a dialer. I'm not sure anyone is using doorhangers. Just where are you getting your info from?