Just wondering about commission rates

Jun 6, 2019

  1. Travis Price
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    Travis Price Guru

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    Thanks for your insight. Currently, I run a Medicare Insurance website which the main source of leads for me. I'm thinking of doing a side project for an "in case of emergency, break glass" in case Medicare implodes (not likely, but who knows.)

    I definitely think I can get the traffic for leads, I'm more concerned if the value is there for me off of just term. I'd be focusing on higher risk hobbies.
     
  2. Tahoe Ray
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    Tahoe Ray Guru

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    There are ton of people that build websites and sell mainly term.

    Google any health condition and the word "life insurance" and the whole first page is going to be online insurance agencies.
     
  3. Travis Price
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    Travis Price Guru

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    Hey Ray, I didn't say that wasn't the case. I don't sell term, so I wanted to know more about the commission layout and such.

    However, thank you for your input.
     
  4. Life Hawk
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    Life Hawk Guru

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    You can run as much as 100+% on term... however most street level will be less than that.
     
  5. Tahoe Ray
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    Sure, but unless that company is Lincoln, you're probably not quoting the most competitive carriers if you're north of 100% on your term policies (or you're a large producer).
     
  6. Tahoe Ray
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    Tahoe Ray Guru

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    No worries.

    My point was that there are a lot of people making bank on term only based on this:

    The average term policy is something like 800/yr so 50 per month is very reasonable.
     
  7. billyb
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    billyb Guru

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    A local guy named Gary Paulzak in Ft. Walton Beach built an agency called TermProvider. They have about a dozen in house agents. I was once one and was an outside agent too when he allowed that. You might recognize his current ads using the character "Big Lou". They don't give a quote if the premium is less than $1000AP. I was in his office one day recently when one of his agents came in his office and asked him to make an exception on a smaller case and he said no. I have even tried to buy leads from the calls he turned away and he wasn't interested.
     
    billyb, Jun 7, 2019
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  8. Allen Trent
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    Travis. maybe try to partner up with a Traverse City area Farm Bureau insurance agent. While they are a captive agent & have lower base commission rates on life products, they many times will build bonus structures to pay their life sub agents much higher commissions because the agents PC renewals on their book of business get higher & higher the more life commissions & life policies they sell. Quality 5 year ART, 10/20/30 year term, term to 70, WL. Awesome SPWL & an IUL product. who knows, you may even bring them in leads for PC home/auto/farm/commercial & earns some money there. Maybe they would let you work their book for life insurance also to sell the Farm Bureau life products.

    they don't sell final expense type products, so there would likely be no conflict of interest in your current sales, etc
     
  9. Travis Price
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    Travis Price Guru

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    Hey Allen,

    Thanks for your input. I appreciate the suggestion. That's not really my marketing plan though.
     
  10. rousemark
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    rousemark Still Here!

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    Most term plans offer an opportunity for a second sell.. You make them a customer when you sell them the term and make them a client when you convert the term.. (for much more commission than you made on the term)
     
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