I Need Advice About My FE Commission

[Agent Angie]

I have been selling FE now for about five months under an IMO.
He started out training me in Pre-need. I did well early on so I was trained in FE as well within a month and a half. In that time I have
sold over 100,00 in AP in four months. My commission is way below 80% not even 40% . I noticed here in the forum most of you said that 80% is about what an agent should be making. I feel like an *** now. I am new to this and I enjoy the business so far but I don't want to make less than what I should be making. I felt the IMO was helpful but now I feel like the village ***. I was a web designer before so Insurance is new to me, but I have been doing well and I like helping families.A friend of mine who has been in the Industry a long time is going to visit me Saturday to review the commission agreement that I signed. He said I might not be able to get out from under the IMO for a few months and sell somewhere else for a better commission. I am so lost now. Any suggestions? I am in Northern California near San Francisco.

 

[tins]

Call Todd King.
IF you really produced over 100K of FE production in 4 months, I'm sure you could easily get over 100% contracts. There are enough companies out there that it's not a big deal if you can't write a few of them.
Call Todd King.

 

[jacobtn]

Not doubting your word but that is an awful lot of production for anyone, esp a newb. Were they oroviding appts and/or leads?

I have been selling FE now for about five months under an IMO.
He started out training me in Pre-need. I did well early on so I was trained in FE as well within a month and a half. In that time I have
sold over 100,00 in AP in four months. My commission is way below 80% not even 40% . I noticed here in the forum most of you said that 80% is about what an agent should be making. I feel like an *** now. I am new to this and I enjoy the business so far but I don't want to make less than what I should be making. I felt the IMO was helpful but now I feel like the village ***. I was a web designer before so Insurance is new to me, but I have been doing well and I like helping families.A friend of mine who has been in the Industry a long time is going to visit me Saturday to review the commission agreement that I signed. He said I might not be able to get out from under the IMO for a few months and sell somewhere else for a better commission. I am so lost now. Any suggestions? I am in Northern California near San Francisco.

 

[Newby]

Not doubting your word but that is an awful lot of production for anyone, esp a newb. Were they oroviding appts and/or leads?

They are mixing Preneed and FE together. They are two different animals.

 

[unlimitedsigh]

I have been selling FE now for about five months under an IMO.
He started out training me in Pre-need. I did well early on so I was trained in FE as well within a month and a half. In that time I have
sold over 100,00 in AP in four months. My commission is way below 80% not even 40% . I noticed here in the forum most of you said that 80% is about what an agent should be making. I feel like an *** now. I am new to this and I enjoy the business so far but I don't want to make less than what I should be making. I felt the IMO was helpful but now I feel like the village ***. I was a web designer before so Insurance is new to me, but I have been doing well and I like helping families.A friend of mine who has been in the Industry a long time is going to visit me Saturday to review the commission agreement that I signed. He said I might not be able to get out from under the IMO for a few months and sell somewhere else for a better commission. I am so lost now. Any suggestions? I am in Northern California near San Francisco.

10k or 100k?

Going on the 0's, it would be 10k*




*added only for getting enough text in to post.

 

[WinoBlues]

You need to separate the Preneed from the FE. I _think_ preneed is paid on face amount not premium?
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10k or 100k?

Going on the 0's, it would be 10k*




*added only for getting enough text in to post.

That would make more sense. In that case she needs to step it up in production. Bay Area is going to have a higher average premium.

 

[Agent Angie]

You are right. I think it was too confusing to train me in Pre Need and then jump into FE. I am selling both for Forethought via leads from my IMO.The Pre need is based on Face. But no it is not a mistake. He ran my report and with pre need and Fe combined I sold 100,000 in face. Sorry if my terminology is off .I am fairly new . I got licensed at the end of February.
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Thanks Todd. It was a combination of Pre Need and FE sales.
I did the pre needs for the funeral home that the IMO trained me in at first. Those leads were very good. After doing both I like FE a lot better .
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So true Newby. I would rather just do FE and not Pre Need. FE seems more beneficial to the family in most cases.

 

[funeraldirector]

You are right. I think it was too confusing to train me in Pre Need and then jump into FE. I am selling both for Forethought via leads from my IMO.The Pre need is based on Face. But no it is not a mistake. He ran my report and with pre need and Fe combined I sold 100,000 in face. Sorry if my terminology is off .I am fairly new . I got licensed at the end of February.
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Thanks Todd. It was a combination of Pre Need and FE sales.
I did the pre needs for the funeral home that the IMO trained me in at first. Those leads were very good. After doing both I like FE a lot better .
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So true Newby. I would rather just do FE and not Pre Need. FE seems more beneficial to the family in most cases.

Okay, so you were paid on the face. That should be 12%. SCI just went to 4. Stonemor is at 6. FE is typically between 8 and 10. FE isn't necessarily better for the family, and if you're going to stay in the funeral biz, your FE company must be funeral home friendly.

 

[Josh]

You are right. I think it was too confusing to train me in Pre Need and then jump into FE. I am selling both for Forethought via leads from my IMO.The Pre need is based on Face. But no it is not a mistake. He ran my report and with pre need and Fe combined I sold 100,000 in face. Sorry if my terminology is off .I am fairly new . I got licensed at the end of February.

The 80% number you're referencing is based on the annual premium, so a $100/month policy is $1,200 in premium and that's what the 80%/100%/whatever commission level is based on. Through that lens, what commission rate are you at? You might not be in a bad spot.

 

[Agent Angie]

I am at almost 12% on Face. I get a little higher commission on the FE though. So I am so sorry to sound like such an *** . How are other agents getting 80%? Is that 80% of Face? They didn't go over any of this in my training sessions. Only thing covered was how to sell and how to pass the license test. Maybe spent 20 minutes tops on commissions and that left me dazed and confused.