Insphere Insurance Solutions. Any Info About Career ?

Discussion in 'Health Insurance and Ancillary Benefits' started by Philly, Jan 8, 2010.

  1. Thane
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    Thane Active Member

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    Re: Any Info About Insphere Insurance Solutions Career?

    The Welcome link you listed did not work; I am in VA. You mentioned HCO as a viable option over Insphere but is this also true for a greenie looking to break into the business?
     
  2. dgoldenz
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    dgoldenz Moderator Moderator

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    Re: Any Info About Insphere Insurance Solutions Career?

    10.5%? Wow...
     
  3. gboylan21
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    gboylan21 Well-Known Member

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    Re: Any Info About Insphere Insurance Solutions Career?

    10.5 is ridiculous. if you agree to go with them they are going to train you to sell the limited benefit plans because you ll make higher comm. always be careful when signing up for companies that on their personal websites, they leave off outlines of coverage so potential clients cant get on and review the outline of a policy. all your respectable insurance carriers will allow you to see their plans just by going on to their website. with plans from health markets you have to contact an agent and have them come meet with you.
     
  4. truthbetold
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    truthbetold Member

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    Re: Any Info About Insphere Insurance Solutions Career?

    They are paying 15-18% depending on experience on all health and ancillary products. The health can be health markets, aetna, or united health one. The ancillaries are health markets.

    They pay a bonus based on % that ancillaries make up of total health sales. This can go up to 5%. They pay a bonus based on total production up to another 7.5%. So an experienced agent can make up to 30.5% on sales

    They do marketing credits and matching as well. They do give stock as well.

    The downside is you assign all commissions permanently and irrevoccably so in essence you do not own your own business or your book of clients. You also will drop to lower commissions should you leave and may find it difficult to get a release to continue to sell for some carriers.

    Remember there is never a free lunch.
     
    Last edited: Jan 24, 2010
  5. Paradigm
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    Paradigm Well-Known Member

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    Re: Any Info About Insphere Insurance Solutions Career?

    The overall problem with any captive agency is you are building their business not your own book of business.
     
  6. Crabcake Johnny
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    Crabcake Johnny Well-Known Member

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    Re: Any Info About Insphere Insurance Solutions Career?

    ...and their sales training will always include ramming ancillary products - competitive or not - down your client's throats.

    Most often in order to maximize commissions that entails giving your client a more lacking plan so you have room in the premium for the other bag off goodies you're trying to hawk.

    You don't make real money in outfits like InShpere by selling a family HSA 100. You make the real dough by selling Copay Saver loaded with dental/vision, critical illness, accident protection, etc...
     
  7. Paradigm
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    Paradigm Well-Known Member

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    Re: Any Info About Insphere Insurance Solutions Career?

    Yes I would agree if you sacrifice major medical coverage for the ancillary sale. But in general the sale of ancillaries (critical illness, dental, vision, and accident) as well as life insurance is a great value added for creating greater consumer loyalty with the health insurance client and putting more commission dollars in the pocket of the agent. Upselling sadly is a lost art in this era of price competitiveness.
     
  8. ins.dave
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    ins.dave Well-Known Member

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    Re: Any Info About Insphere Insurance Solutions Career?

    Mmmmmmmmm, me not agree.
    In time they realize said ancillaries were unnecessary and a waste of money.
    "Who sold them to me again?"
    Renewal time ... new agent time.
    "Up sell" yourself right out of a client.
     
  9. Paradigm
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    Paradigm Well-Known Member

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    Re: Any Info About Insphere Insurance Solutions Career?

    Ancillaries become very useful if you ever get cancer, have a heart attack or have an accident. They will pay above and beyond your major medical or HSA. In many cases either paying your out of pocket and/or living expenses. $50,000 in the event of cancer can definitely be a blessing. Its like life insurance you dont see it as valuable until you need it.
     
  10. ins.dave
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    ins.dave Well-Known Member

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    Re: Any Info About Insphere Insurance Solutions Career?

    Perhaps critical, but you lose me at dental / vision plans.
    Repeatedly we have had clients ask us to remove dental from their health policy because "it doesn't pay for anything." Even though we "involved" them into understanding that it wasn't worth the money in the first place ... I don't have a dental / vision plan. As they are now; I can't see recommending one.

    P.S.
    Who do you use for C. Illness? Stand alone?
     
    Last edited: Jan 25, 2010

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