Hello everyone. I’ve been scouring the forums for weeks now and have decided to make an account to ask questions and hopefully answer some as well. I’ve been in the life insurance business for a few years now and produce around 150k AP annually door to door. I have always wandered if the grass is greener with another IMO/FMO. Most people on here know the agency I’m with, so I’d rather not say who/where. I receive 80% of 9 month advance and have renewals with most carriers around 4%. I receive supplied leads of around 20 a week but they are internet leads, not DM. My question is, am I getting screwed here or do I have a good deal? Based off of street level commissions elsewhere, I believe I’m losing a ton of money both short and long term.
New to Forums
- Thread starter Door2Door
- Start date
-
- Tags
- fmo imo life agent. new agent
- 3,995
Your are, but WHY are you looking? Besides the compensation number is there anything else broken about your system?
- 29,522
Sounds like you're giving up 40% of your FYC for 20 leads per week. You can get a lot more(and probably better) with the $50-60,000 you're "giving" to your IMO.
Yes, with that kind of production...you'r getting screwed.
Welcome to the Forum.
Last edited:
- Thread starter
- #4
At this point in the game, I don’t really need help outside of leads. Nothing is broken about where I’m at, but I don’t really need any back end support. I just want to do whatever makes me the most net profit.
My impression is that you may not be as bad off as you seem to think you might be. If you are making enough sales to be happy, and you are receiving 20 free leads. And you like the folks you work with, why rock the boat? If you have not noticed, things are changing right before our eyes. Be happy and thankful for what you have. There is time down the road if you choose to make a change at some point. The grass is not always greener on the other side of the fence.
- 29,522
How long do you think he should continue to pay $50,000 + per year for $30,000 worth of leads? When is enough, enough?
Ask yourself, "What is my current IMO doing for me that is worth paying them $30,000-60,000 per year of my commissions?" For that kind of money, you can finance your own 20 leads/week; finance your own overseas vacation(s); finance your own Rolex, for those impressed with Rolex Clubs; and, hire an assistant.
If you saved half of what you are paying them ($15,000-30,000/yr), invested properly would grow to $336,000-$671,000 in just 10 years!!!!
If you saved half of what you are paying them ($15,000-30,000/yr), invested properly would grow to $336,000-$671,000 in just 10 years!!!!
Last edited:
- 5,262
You can do better elsewhere.
- 25,038
That.
Every agent needs and wants different things from the up lines.
If you are a lone wolf just need a contract. Get your money.
Just ask them what they can do. They give you their best shot firsr time. If good, sign, if not thank them and move on.
- 25,038
Here is an example: I had some contracts with a guy for 20-25 years. Have not heard from him in probably 10 years. Which is cool, I'm a big boy, I know how to call the companies. So one day I was curious about comp on one of them. I spoke with someone on the forums, he gave me more. I moved it. The first guy called me. I was nice and explained. He was a little butt hurt and said I should have spoken with him first. I asked him why? He said we have been together for a long time. So I asked him why he did ever not call me and say 'you know Wino old friend, we have been together for a long time. You have good persistenty and you rarely need anything. Here is a bump in comp'?
As I have moved other contacts he has not called.
As I have moved other contacts he has not called.
