Newbie Contracted Through a Family Member! - Please Help

[rmacnamara]

Hoping one of the pros out there can help me with this.

First of all I'm new to selling FE and currently contracted only with baltimore life. I'm working with a family member who has been selling final expense independently for about 2 years. So without explaining it to me he set me up on a commission schedule that is 60% of Silver Gaurd I, and 30% of Silver Gaurd II and III. Now he is totally independent, not working for anyone else. Is he screwing me on commissions?

Second, I'd like to get contracted with some other companies. Who would you recommend as a must have for your portfolio? Mostly selling in CT and NY.

Appreciate the help.

 

[Josh]

NY is tough. It depends on what support he's giving you in terms of training and leads.

Most NY agencies are going to give you around a 50% contract until you get some production history, but even then it doesn't get terribly high.

With no training or support, yes, you're not getting a good contract. With training and support (including leads), you're doing getting a good deal.

The carriers for FE in NY are pretty much Columbian, Universal American, Presidential and Forestors. CT has quite a few more.

 

[TDFnCali]

Hoping one of the pros out there can help me with this.

First of all I'm new to selling FE and currently contracted only with baltimore life. I'm working with a family member who has been selling final expense independently for about 2 years. So without explaining it to me he set me up on a commission schedule that is 60% of Silver Gaurd I, and 30% of Silver Gaurd II and III. Now he is totally independent, not working for anyone else. Is he screwing me on commissions?

Second, I'd like to get contracted with some other companies. Who would you recommend as a must have for your portfolio? Mostly selling in CT and NY.

Appreciate the help.

Rule #1...Never work with family!!

 

[Pete Cormie]

NY is tough. It depends on what support he's giving you in terms of training and leads.

Most NY agencies are going to give you around a 50% contract until you get some production history, but even then it doesn't get terribly high.

With no training or support, yes, you're not getting a good contract. With training and support (including leads), you're doing getting a good deal.

The carriers for FE in NY are pretty much Columbian, Universal American, Presidential and Forestors. CT has quite a few more.

Nix Universal American. They quit life insurance on June 1st.

 

[b61mack]

New post- i taught my a family member all i knew, paid for his leads, held his hand. Spent countless hours, training him. Now he want to go on his own. No he is not screwing you. But it seems you are about to screw him...

 

[nfl72]

lol couldnt have said it better myself!!!!

 

[Josh]

lol couldnt have said it better myself!!!!

There really is so much we can agree on

 

[Rearden]

Capitalism sucks, guys.