MA opportunity, good deal or not?

[honestagent]

Yet another email:

[FONT=Verdana, Helvetica, Arial]I checked with Zahrinsurancemarketing, we are paying $200 for an enrollment[/FONT]
[FONT=Verdana, Helvetica, Arial]With 80% advanced. It seems the Medicare Advantage market is very slow in paying up to four or more months from submission to pay. We are paying weekly, the balance of the 20% withheld is paid when the agency is paid. They are premium financing involving an interest cost.[/FONT]

[FONT=Verdana, Helvetica, Arial]So $200 is the commission and the appointment/lead cost is $17.50 with a 35% appt to enrollment ratio.[/FONT]

[FONT=Verdana, Helvetica, Arial]We would love to have you in our sales organization.[/FONT]

[FONT=Verdana, Helvetica, Arial]I'm still interested in doing this, IF I can determine if it's a fair deal. Thoughts on new info? Thanks![/FONT]

Read my post above: bottom line is marketing. Do you have the $$$ and an outstanding resource or resources to book your own and pay yourself top commissions? If so, pay yourself higher; otherwise, try them out. It's about how to 'find' these qualified people while minimizing your expenses.

 

[sman]

Yet another email:

[FONT=Verdana, Helvetica, Arial] I checked with Zahrinsurancemarketing, we are paying $200 for an enrollment
With 80% advanced. It seems the Medicare Advantage market is very slow in paying up to four or more months from submission to pay. We are paying weekly, the balance of the 20% withheld is paid when the agency is paid. They are premium financing involving an interest cost.

So $200 is the commission and the appointment/lead cost is $17.50 with a 35% appt to enrollment ratio.

We would love to have you in our sales organization.

[/FONT][FONT=Verdana, Helvetica, Arial]I'm still interested in doing this, IF I can determine if it's a fair deal. Thoughts on new info? Thanks![/FONT][FONT=Verdana, Helvetica, Arial]
[/FONT]

Hogwash!!! I submit an application with Today's Options, I'm paid within 5 days directly from Pyramid Life. I submit an application with Coventry, I'm usually paid within a week to 10 days. Again, directly from Coventry. Pyramid just changed their amount during the LOEP to 9 months advance ($247.50) instead of the full $330, but Coventry is still paying $330.

There are carriers that pay the following month, but it's not the timeframe which this guy is telling you (4 months). For example, you submit an app with Care Improvement for a 07/01/07 effective date. You'll get paid mid August.

It also sounds like they make you assign commissions to them and they pay you. Something I wouldn't recommend. At the very least, I would get in writing that they will release you at anytime upon your request (meaning you can go to another marketing organization with the same carrier). It sounds as if you've made your mind up and just want to someone to tell you to go ahead. We've posted all the warning signs. Why would you pay for the lead and get a reduced commission? It just makes no sense. It seems to me that if you are paying for the lead, you should get full commissions. Otherwise, tell them to provide the lead to you at no cost and you'll take a lower commission.

 

[Juddzilla]

Actually I am far from having made up my mind, which is why I have been adding each new piece of information as it comes in. I'm sure that there are many on the forum (like myself) with no MA experience that are learning from each response from the seasoned agents here. Thanks to all for your help.