My appointment applications were turned down by a few carriers for poor credit rating. As an independent, I do need good carriers in my lineup. I heard from multiple sources, including this forum, eventually these carriers most likely will accept me as a paid as earned agent to avoid potential charge back problem. I just wonder if someone with first hand experience can share his/her story with me.
Paid As Earned
- Thread starter wmw
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Guest
Guest
gonna be aweful difficult to succeed as paid as earned, unless you have something else your selling to make a larger chunck of cash at a time
Actually, paid as earned only has a negative impact for the first 9 - 12 months. After that, it begins to work out better, since it gives you a smoother cash flow.
It's nice to have a bit of both. In the P&C world, we get a little spoiled since the renewals pay pretty decent (compared to first year) and we are a bit more high volume. The renewals act almost the same as 'paid as earned' would.
To be honest, I could never make it as a life only agent with advances. I would do well some months and then other months struggle to figure out how to put food on the table. Paid as earned gives you a steady diet of top ramen.
Dan
It's nice to have a bit of both. In the P&C world, we get a little spoiled since the renewals pay pretty decent (compared to first year) and we are a bit more high volume. The renewals act almost the same as 'paid as earned' would.
To be honest, I could never make it as a life only agent with advances. I would do well some months and then other months struggle to figure out how to put food on the table. Paid as earned gives you a steady diet of top ramen.
Dan
- 1,473
Dan I found out from experiance that u can only be good in P&C or life can not do both well. I had high life producers come to allstate and then could not do both. P&C takes a lot of time to service and retain. I usally do about 20k in life sales a year.
- Thread starter
- #6
Thanks for all the sppedy responses. I'm in life and annuity market. The carriers rejecting me are Omaha, American equity and LSW.
I don't mind paid as earned if that is the only way I can get appointed. I can do more single preimium annuity to balance it out. I'm more interested to find how likely I can get appointed that way.
I don't mind paid as earned if that is the only way I can get appointed. I can do more single preimium annuity to balance it out. I'm more interested to find how likely I can get appointed that way.
- 7,790
Just give it a try and indicate you want "paid as earned." Good luck!
- 26,179
Going with an IMO/GA/FMO/ABC/QRD/LOL/OMG or what ever may get you a better response than going direct. Their reputation will carry more weight than your.
Lee
- 198
Going with an IMO/GA/FMO/ABC/QRD/LOL/OMG or what ever may get you a better response than going direct. Their reputation will carry more weight than your.
Lee
Lee
Yep, I hate selling life. I do it, from time to time, but it is a huge distraction and takes way to long for the little bit of money it brings in (realizing I sell mostly term when I sell life).
Dan
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