Mortgage vs. Insurance?

[STIBROKER]

First, I'm going to work as a telemarketer for him for half of commision to check if he offers support or not while I study for my exam. But the problem is I'm moving to another state in four months and I'm not sure where to get my primary l&h insurance license.

man.....you can not sell insurance,talk about beanies or receive commissions with out a lic....they will fine you and your buddy......

 

[007]

No,

I'm not selling but generating applications for half of comm. instead of the hourly rate. If I go hourly, the base pay is 8dollars/hour if I genrate 1 app. in that hour. If I generate 2 apps. in that hour, I get paid 12dollars for that particular hour. If it's 3 apps. that hour, I receive 15dollars for that hour...........

 

[J.R.]

No,

I'm not selling but generating applications for half of comm. instead of the hourly rate. If I go hourly, the base pay is 8dollars/hour if I genrate 1 app. in that hour. If I generate 2 apps. in that hour, I get paid 12dollars for that particular hour. If it's 3 apps. that hour, I receive 15dollars for that hour...........

As Sti indicated it is illegal to generate applications and/or talk about any insurance plans without having a license. The pay structure sounds very familiar. I'd recommend you go with an agent who has higher morals and conducts his or her business in an ethical manner. A large red flag has already been raised in regards to splitting commissions with you prior to you obtaining a license.

Many of us on this forum started out selling insurance with green eyes so don't take this the wrong way. We need more people like you who actively search for information vs. looking at the surface.

 

[007]

Thanks ProSal,


I will not go that route for straight comm. because that was my proposal for the broker and not his. It was not his plan but mine and I will definitely start on an hourly rate before I recieve my license so I can do this the right way. Sal, do you have a copy of rebuttals for cold calling you want to share or do you just " wing it " like most guys do?

 

[BKrocko]

No,

I'm not selling but generating applications for half of comm. instead of the hourly rate. If I go hourly, the base pay is 8dollars/hour if I genrate 1 app. in that hour. If I generate 2 apps. in that hour, I get paid 12dollars for that particular hour. If it's 3 apps. that hour, I receive 15dollars for that hour...........

This sounds like a typical arrangement when we hire a telemarketer. When you refer to "applications", do you really mean "leads"? If the deal is to generate "leads" than there is no problem - 3 leads/hr means he is only paying $5/lead and that is a good deal for him, $15/hr is a good deal for you. If you do really mean "applications" - then these guys are right, there is a problem.
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[J.R.]

Thanks ProSal,


I will not go that route for straight comm. because that was my proposal for the broker and not his. It was not his plan but mine and I will definitely start on an hourly rate before I recieve my license so I can do this the right way. Sal, do you have a copy of rebuttals for cold calling you want to share or do you just " wing it " like most guys do?

I normally wing it and prefer to do business with people who value health insurance. If somebody isn't interested in saving money on their insurance costs, while still have a top notch plan and my services, then I do not want that person as a client.

Did you see my question regarding the inquiry I made about the prospective state you're moving to in 4 months?

 

[007]

Missouri, Texas, or maybe Salisbury because I have a long time friend girl in that state. PSal, how long you been in the health insurance business? I noticed you like real estate too and guessing maybe you were a loan officer too.

 

[007]

ok Bk,

yes I do mean leads and not application. So, is it the insurance or mortgage business to choose as a career?

 

[J.R.]

Missouri, Texas, or maybe Salisbury because I have a long time friend girl in that state. PSal, how long you been in the health insurance business? I noticed you like real estate too and guessing maybe you were a loan officer too.

Salisbury MD??? I specialize in selling health insurance 100% right now and have been in the field for almost 2 years. I will start my CLU and/or CHFC training in September, so I will add life and disability to my portfolio within the next year. The beautiful thing about this field is that you can go any direction you want!

I love real estate, but I don't sell loans. Some people I have talked to want to specialize as an insurance agent, mortgage broker, property manager, real estate investor and hold down a 9-5 job. That is a tough cookie to eat.

It is better to pick a few specialties to work in at first and become an expert in that field until you build up enough experience and know your products inside and out in your respective state. Spend 10-12 hours a day busting it out 5-6 days a week and you will do fine.

You're going down the right path by starting off as a telemarketer. If you can do that day in and day out learning the products will be a cake walk.

 

[007]

22Sal,

I've read in posts you generated your leads by doing your own cold calling first before you hired telemarketers. That had to be hard because you were manually dialing numbers and doing calls all alone.. Most people I know hate cold calling because of constant rejection and manually dialing the phone numbers.