Life Commission Split with P&C Agency

[WinoBlues]

I have a question that spans Life, FE and P&C.

I have been asked to help an old and established non standard auto agency build a life book. Probably it will wind up with me working their book and having the CSRs sending me the leads.

I expect that this book will be a lot of SIWL and SITerm business. I do not plan on contracting him under me.

My question is what would be a fair split? Once I get the lead the agency is done with it. I will handle everything from underwriting to service down the road. I will encourage the clients to only call me for life service.

Also I consider any new business and referrals down the road as mine. What say you?

Thanks

Edit:New business = I need to clarify that I mean any outside that household. Such as a brother or adult child. As far as the written clients the split will be on the app so if he wants to service them he can. But a P&C agent won't.

 

[Insurance-Guy]

I am a P and C guy but I do most of my own life and individual health. You have already overcome the biggest hurdle which is finding a P and C agent that will trust you with his clients. I have just recently formed a relationship with a LTC specialist and I send him the leads and we split it 70/30 I get 30. Seems fair to me as he will take the lead and run with it. He sends me P and C and wants no parts of it. I will tell you it is going to be hard to motivate the staff of his office to promote life products unless you are offering something to the CSRs. (trust me) a great idea is a gift card for leads that you get a application out of to the CSR that reffered the business. Otherwise they will not ask about life insurance. It is hard to motivate p and c CSRs to get in the mindset of asking about life insurance. Good Luck with it sounds like a great arrangement.

 

[WinoBlues]

I am a P and C guy but I do most of my own life and individual health. You have already overcome the biggest hurdle which is finding a P and C agent that will trust you with his clients. I have just recently formed a relationship with a LTC specialist and I send him the leads and we split it 70/30 I get 30. Seems fair to me as he will take the lead and run with it. He sends me P and C and wants no parts of it. I will tell you it is going to be hard to motivate the staff of his office to promote life products unless you are offering something to the CSRs. (trust me) a great idea is a gift card for leads that you get a application out of to the CSR that reffered the business. Otherwise they will not ask about life insurance. It is hard to motivate p and c CSRs to get in the mindset of asking about life insurance. Good Luck with it sounds like a great arrangement.

Thanks for the reply. He called me. He was referred to me by a mutual P&C buddy. Yeah, I am big on incentives. I like the AMEX Gold Gift Cards they just look cool.


Thanks again, Lee