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Insurers Administrative Corporation...anyone used or dealt with???
- Thread starter nc health agent
- Start date
So the consensus is gimmick plan? I've seen they are the underwriter for Independent Producers of America (IPA). They market it through an association and charge $50-$70 per month for the association benefits (CI and Accident).
I do know that some former very high ranking Health Markets people are involved in this company. That doesn't bother me terribly, but offering a crappy policy does!-----------Does anybody really know the deal and if this contract is good and whether or not the company will pay?
I do know that some former very high ranking Health Markets people are involved in this company. That doesn't bother me terribly, but offering a crappy policy does!-----------Does anybody really know the deal and if this contract is good and whether or not the company will pay?
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Damit... I am a vet (16 years of only indy health) and I shared wisdom... what else you want?
GEEZ!!!!!!!
Wow! If that's the case, and your making 20% commission, isn't it really equal to more like 8% commission? (not taking into account any "business" deduction)
Wow! If that's the case, and your making 20% commission, isn't it really equal to more like 8% commission? (not taking into account any "business" deduction)
Nope, doesn't work that way...
20% comm is on premium amount.
e.g. 500 mo premium, 6K av = 1200 comm.
If all paid as advance, and prolly isn't, you would be paying 12% interest, declining balance, since each and every month the earned comm's are offsetting the advanced comm's.
Bottom line (12% int on 1100 advance, which declines 100 ea month) is your interest for the year might be 50 or 60 bucks, max. Of course the actual advance will likely be 75% of comm, which makes the amount accumulating at interest less than the 1100 bucks advance, as illustrated above.
Class dismissed
I offer that product the daily deductible is what its called on a 12 month advannce, six on submit and six on issue. Plus you can rewrite the product the next year and get 1st year comm agian.
IAC is great to deal with. Clients love the daily deductible once they understand it but you have to break it down more to the them then you would with another product.
Sam
[email protected]
IAC is great to deal with. Clients love the daily deductible once they understand it but you have to break it down more to the them then you would with another product.
Sam
[email protected]
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