Kick Backs and Indian Culture?

[DHK]

This article is from 1992: Big Insurers Accused of Trying to Suppress Discounting : Insurance: Prop. 103 freed brokers to rebate commissions, but few are doing so. - Los Angeles Times

I remember my licensing class (back in 2004) specifically stating that rebating commissions was illegal, not that I can find anything on the CA DOI website about it right now.

 

[harley53]

If it weren't for the no vulgarity rule this would be a great place for a link to Glengary Glen Ross.

Lol agree with you, I deal with them in furniture business. Give them something want more.

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I essentially did. I drove back over there that night because my wife said she wanted to have a drink together so I went there and bought a small bottle of
$18 crown royal. I then told him this... "I said if a 15 year old walked in here and asked to buy liquor would you sell it them?" He says "no" I said "why not?" He says " I could lose my liquor license." "I said so why did you ask me to do something that could make me lose my license?"
I then proceeded to tell him...I don't mind being your customer as shown here today by me buying this crown royal. I try to do business with those who do business with me and I want your business but I cannot and will not give you money from my commission to pay you to do business with me. I won't even do business with you an part of the agreement of you doing business with me BUT I will do business with you because I like doing business with clients of mine. I said I may throw a Christmas party for clients and need a whole bunch of wine or something like that and I can use you or any other liquor store for that sort of thing. I then said let me leave you with this..
Let's say you had brain cancer and you went to the surgeon and he said
I'm a pretty good surgeon and if you'll let me operate on you after you pay
me $100,000 I will give you back $20,000 and the other surgeon said I am the best surgeon around you will pay me $120,000 to operate on you and I can't give any of that back to you BUT I am going to do my very best to save your life. Then I asked him which surgeon he would choose. He said the one that would save my life. I said Well I am that surgeon. If you die I will personally bring a check to your wife for $1,000,000 not only that I will make sure that your wishes are followed to the best of my ability and try to assist in making your family survive in your absence -through proper planning and investing etc. So you think about that and let me know. He said well my other guy will do the same. I said your other guy will probably be out of the business with no license by the time you pass away. I am in the business for the long haul so you think about it...and I left...

I am new in this ins buss and don't know how long it took you to memorize thus but i will use it all the time .Thank you

 

[LGilmore]

This may make you feel better, but did it accomplish anything? In fact you paid him for a purchase. You would have been better served giving your speech and then deciding not to buy anything. That way he had to listen to you and not make a dime for it.

We will run into sh itty people of all different shapes, colors and religion in our business. Try not to spend a lot of time on them if you can. While making statements like you did might make you feel a bit better, it won't change anything. Not trying to be harsh on you, been there myself. That's how I learned I am just beating my gums at a certain point.

 

[VolAgent]

To pile on with Larry, I don't even get the point of the speech.

He didn't learn a darn thing, his eyes probably glazed over during it.

Short and sweet does it.

 

[bluemarlin08]

If he doesn't care it is illegal, he's a dumbass for settling on $500, I guarantee there are agents that would kick back half the commission. I once was asked by an attorney to split a 150.000 commission on one of his client's.

 

[Todd Preston]

What about this idea.

Throw it back at him.

"OK Mr.Indian, i will kick you back $500, but i need you to give me $500 in liquor. What do say?"

 

[yogooglethis]

What about this idea.

Throw it back at him.

"OK Mr.Indian, i will kick you back $500, but i need you to give me $500 in liquor. What do say?"

that you are Indian giver ?

 

[lifeinsuranceguytx]

If he doesn't care it is illegal, he's a dumbass for settling on $500, I guarantee there are agents that would kick back half the commission. I once was asked by an attorney to split a 150.000 commission on one of his client's.

So you made $75,000? Jk
If you did... I can see why that would be tempting. It just scared me.