Monumental Life

[TDFnCali]

I'm very much a beginner and I decided to go independent and have mostly 115 contracts with one 120 and one 110... Promises to go up to 120 depending on production.
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I was also offered 55 at securus before I knew any better, and 70 at efes. They sounded like really good offers until i found this message board lol

Wow, 115 & 120, pretty good....thats better then me of course being with EFES. How are u getting consistent lead flow? Are u happy with ya decision?

I dont make those type of commissions, but my wholesale biz isnt far off....Im happy with my decision as a beginner! Commish isnt everything...I can see looking into other options once I get at least 6-12mos under my belt. But without consistent lead flow, even if the leads are good but inconsistent is a career killer!

 

[ruin007]

When I say I'm new I mean haven't written a contract yet new. I just signed

 

[tins]

When I say I'm new I mean haven't written a contract yet new. I just signed

White an app on yourself. It'll get the jitters out.

 

[ruin007]

When I say I'm new I mean haven't written a policy yet new. I just signed the contracts this past week, and just send out my first mailers. Im happy so far because ive gotten some great help from some very friendly people. I may end up regretting it, and I lost a lot of sleep deciding against efes. I just decided I wanted to either make a career of this or find out quickly that it's not for me. If you are still hearing from me in 3 months on this board it means I'm happy with my decision... If not I should've went with efes lol.

 

[tins]

When I say I'm new I mean haven't written a policy yet new. I just signed the contracts this past week, and just send out my first mailers. Im happy so far because ive gotten some great help from some very friendly people. I may end up regretting it, and I lost a lot of sleep deciding against efes. I just decided I wanted to either make a career of this or find out quickly that it's not for me. If you are still hearing from me in 3 months on this board it means I'm happy with my decision... If not I should've went with efes lol.

Nothing wrong with giving up commission when learning the biz.
When I started out, I was captive, with my top life contract at 45% (had another @ 35%). We did mostly Med Supps and MA. But I was able to learn what I was doing and had an easy transition when I decided to go indy after a year.

 

[jdeasy]

What could a personal producer like u get going 100% independent JD? Im curious cause I believe you're at 100/120 with EFES? And what could a beg get going 100% independent? Of course its on avg, cause some carriers will give u slightly more/less...but Im curious.

I have some 120% with a few companies outside of EFES. I'm sure I could get 125% with most a 130% maybe with a few? That's a bout as high as an individual can get.

I am 100% independent now. I just partner with EFES for leads.

I've done the numbers before and I've done my own mailers, dialers, internet leads, you name it, etc. and I made less money than I do now.

I've figured the mailers before if I wanted to just do that on my own and I would have to spend around $50,000/yr to get the same number of leads that I get now. I spent less than $9000 last year on leads. Then, doing it on my own I would not get the leads in the same county on the same day every week. So, not only would I have to make $40,000 more in commissions just to be even, I wouldn't be nearly as efficient or effective or have the same amount of my own time.

That is exactly how every agent has to look at it before they partner with anyone. What's the best deal for the agent?

I know Tim W spent over $50,000 in leads the year before he got with EFES. His first year at EFES he spent $12000. Travis used to spend around $50,000 per year on leads before he got with EFES. I don't know what he spends now, but it's less than that or he wouldn't stay.

I was recently terminated from a company that I had 115% with. Why? Lack of production. I didn't get leads for that company, so I didn't have anyone to sell to. What difference does it make what kind of contract you have if you have no one to sell to? 125% of nothing is always nothing.

 

[Rearden]

(200,000 x 125% x 80%) - (900 x 48) = 156,800 @ ~9%-11% 2-10

@ 5 = $60k?

(200,000 x 100% x 80%) - (165 x 48) = 152,080 @ ~5% 2-10

@ 5 = $30k?

(150,000 x 125% x 80%) - (900 x 48) = 106,800 @ ^^

@ 5 = $40k?

(150,000 x 100% x 80%) x (165 x 48) = 112,080 @ ^^

@ 5 = $20k?

 

[rousemark]

I have found that agents that seem to be always searching for the "top" commission contract end up out of business because they are never satisfied and they are so worried that somebody might be making a buck or two off what they sell.

As JD points out there are many reason to take a lesser contract. Especially if you are a new agent and could benefit from an upline to mentor you.

I am amazed at the folks that post on here that they are new to the business, where can they get top commission contracts and then start asking the most elementary of questions. They should be asking who will give me the best training, not the best commission rate.

 

[sellingdog]

I think this is harsh. There is no one that is getting 50% commission.

You are right, no one is getting a 50% commission.

I had a Securus manager that I met with offer me a 55% contract. Unique Underwriters offers agents at a 55% level. Both managers talked nothing about personal production but recruiting, recruiting, and recruiting.

Drink the koolaid and dance to the raw raw parties. Won't do you a whole lot of good for the pocket book once the lead balances and chargebacks start hitting.

Ron, you may be right, I am not a KA Drinker and have a very good contract. My point was what does it take to become a good producer? Can giving up some % be worth it in the long run? I guess each of us must figure that out.

Also, if the managers are not talking about personal production (with any IMO) I would run... If you can't do it, how can you teach others to be successful.

 

[ruin007]

I think a lot of veteran agents forget what it's like starting out. Everyone is trying to get over on you. Before I discovered this board, I was offered 70 percent at EFES and I was thrilled, becaues I was offered 55 percent at Securus. I would've flamed out for sure. These companies work very well for lots of people, but they are not here to help agents; they are here to make money. Helping agents is just sometimes a byproduct.