New Member from South Orange County

Mar 6, 2016

  1. oldroyd
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    oldroyd

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    Hi Everyone,

    my name is Terry, I just found this wonderful forum. What a great source of information you have here.

    I am researching the insurance field as my wife and I currently have a small Real Estate brokerage. Its not always good to have all your eggs in one basket.

    This forum looks to be the go to place for information. I look forward to spending time here researching the basics of how the industry operates compared to ours.
     
    oldroyd, Mar 6, 2016
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  2. The Gimp
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    The Gimp Guru

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    Hi Terry. Welcome to the forum. You definitely found a wealth of information to do research from. The search function will pull up just about anything you might have a question about.

    Feel free to post anything that comes to mind and we look forward to assisting you.
     
  3. oldroyd
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    oldroyd

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    Thank you so much, greatly appreciated!

    I do have a quick question and perhaps I should not ask it here. All the information seems very available here....but I want to, of course find out about how carriers pay...is it commission, a percentage is there an industry standard, tiered on production revenue?

    We would be interested in the independent L&H type research initially.
    Could anyone direct me to an area in the forum or other direction on Independent agents compensation?...In Real Estate it's pretty straight forward but and I'm having a bit of a more difficult time nailing it down in insurance.

    Thank you again!
     
    oldroyd, Mar 6, 2016
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  4. goillini52
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    goillini52 MAGA...Eat More Bacon & BUILD THAT WALL!!!

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    The commission % is going to vary from one type of insurance to another. What areas are you interested in?
     
  5. oldroyd
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    oldroyd

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    Thanks for the response!

    Initially I am looking into Health, Life and Long Term Care.
    I'm sure I will find my way but I'm just trying to get a general idea on how commissions are paid and if there are residuals on many of the products on renewals etc.

    We have experience in both mortgages and Real Estate. Real Estate is of course very simple commission or flat fee based where upon Mortgages are more complicated with points on the front, back, buy downs, administration fees etc. Perhaps an assumption on my part but I get the impression insurance compensation is very variable depending on type?

    I have been with my CPA for nearly 20 years from back when I was a Sales rep. He is always bugging me to look into 'Health Insurance" as he refers a lot of business out and would rather sent it my way.

    Apparently he thinks I would be very good at it and because my wife has a handle on the Real Estate. It seemed worth looking into. We also have an established business structure in place that could be an umbrella for another revenue source.

    Of course I'm in the very early stages of research but the numbers are important and I'm struggling to locate an informative part of the forum that would provide a starting point or general layout on where the money is and how it is dispersed out.

    If you or anyone could point me off into the right direction, or if you have any thoughts you would like to share... again it would be greatly appreciated!

    Many Thanks!

    Terry
     
    oldroyd, Mar 7, 2016
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