My own website/llc as an independent agent at a large company?

[Blake Baker]

Go Independent and get paid more to sell more competitive products.

Those are just words. I have no clue what steps to take and when i research it there are countless articles with conflicting information

 

[goillini52]

Those are just words. I have no clue what steps to take and when i research it there are countless articles with conflicting information

There are many FMO's that offer good contracts to Independent agents. The FMO's offer many different carriers and you can represent as many carriers as you want. The average commission is 115% for Final Expense insurance that's priced much lower than AIL.

There are several FMO's that are active on the Forum. You could talk to them and see what you think. Todd King and FexContracting are 2 that are honest and straight shooters.

https://insurance-forums.com/community/members/todd-king.3501/

https://insurance-forums.com/community/members/newby.432/

 

[Blake Baker]

There are many FMO that offer good contracts to Independent agents. The FMO's offer many different carriers and you can represent as many carriers as you want. The average commission is 115% for Final Expense insurance that's riced much lower than AIL.

There are several FMO's that are active on the Forum. You could talk to them and see what you think. Todd King and FexContracting are 2 that are honest and straight shooters.

https://insurance-forums.com/community/members/todd-king.3501/

I have never even heard the term FMO before so that is already a big help.

I agree about the commission rates though. I would love to make more for sure.

 

[goillini52]

I have never even heard the term FMO before so that is already a big help.

I agree about the commission rates though. I would love to make more for sure.

FMO stands for Field Marketing Organization. Some go by IMO = Independent Marketing Organization.

You not only make more in commissions and renewals, you'll also be able to place more policies because different carriers have different underwriting niches.

Good luck.

 

[Blake Baker]

FMO stands for Field Marketing Organization. Some go by IMO = Independent Marketing Organization.

You not only make more in commissions and renewals, you'll also be able to place more policies because different carriers have different underwriting niches.

Good luck.

Thanks!! I appreciate the help. I was always under the impression that you can make more in commision but that is usually offset by the cost of buying your own leads and stuff. I will have to look into it more and see if i can find a texas FMO to help me out

 

[Tahoe Ray]

Thanks!! I appreciate the help. I was always under the impression that you can make more in commision but that is usually offset by the cost of buying your own leads and stuff. I will have to look into it more and see if i can find a texas FMO to help me out

You're still thinking about a job vs. a business. You don't need someone local fwiw

You can go independent, get any carrier through an FMO/IMO (like GoIllini mentioned), source your own leads, and write your own business.

A lot of the people in insurance who make good money are either super captive (like NY Life) or own their own agency.

Your call on how to do it but those that are in the middle (like you, where your IMO-AIL-just takes most of your comp and gives you "free" leads) normally make the least.

Good luck and keep asking questions.

 

[goillini52]

Thanks!! I appreciate the help. I was always under the impression that you can make more in commision but that is usually offset by the cost of buying your own leads and stuff. I will have to look into it more and see if i can find a texas FMO to help me out

With today's technology, it's not necessary to have a local FMO. Most FMO's provide things like free FexQuotes, CSG, etc.

With the extra commission, it's cheaper to buy your own leads.

There are some FMO's that will provide you with leads for a lower commission rate. Both of these are represented on the Forum.

https://insurance-forums.com/community/members/hoosierlife.37122/

https://www.efesonline.com/ in Richardson, Texas

 

[marindependent]

The problem is that i am not certain if it is even legal for me to have a website under one name(not my name, a business name) and then sell insurance though another.

Is it legal? In my humble opinion its more of a contractual and DOI question then a question of legality.

What does your contract with your employer say?

As far as your insurance website is concerned, I would understand what your State DOI rules are concerning using business or fictious business names. If the website/business is providing 'insurance services' and you yourself have an insurance license, I would make sure that your license number is represented somewhere on the site.

 

[Markthebroker]

I work at American Income Life as a career agent

One of the things I am wanting to do is start my own website with my own name and social media pages so that i can advertise and generate my own leads.

The problem is that i am not certain if it is even legal for me to have a website under one name(not my name, a business name) and then sell insurance though another.

I know that I will have to put on the website and advertisements that insurance is sold through AIL but am uncertain of any other legalities involved.

I am trying to do this on my own because if i talked to my uplines about something like this they would likely say dont worry about it, just stick with the leads you have. but I want MORE.

Any advice would be greatly appreciated including the necessary steps to take if this is possible!! I already bought the domain name just in case this is viable.

It is probably forbidden by your e&o, which is one of the reasons your upline will say don't do it.

 

[Markthebroker]

I work at American Income Life as a career agent

One of the things I am wanting to do is start my own website with my own name and social media pages so that i can advertise and generate my own leads.

The problem is that i am not certain if it is even legal for me to have a website under one name(not my name, a business name) and then sell insurance though another.

I know that I will have to put on the website and advertisements that insurance is sold through AIL but am uncertain of any other legalities involved.

I am trying to do this on my own because if i talked to my uplines about something like this they would likely say dont worry about it, just stick with the leads you have. but I want MORE.

Any advice would be greatly appreciated including the necessary steps to take if this is possible!! I already bought the domain name just in case this is viable.

It sounds like you are willing to invest in paying for more leads.

How much have you invested in getting skilled at asking for referrals?