Please Critique This Business Model...

[saintquinn]

Hey Agents...
I'm an experienced Rep and Marketer and Licensed Agent in New York City but I've never (as an independent) been able to crack the insurance industry as an agent...

A "FRIEND" (A Sc#mbag, prick) called me last week with a "GREAT" opportunity (he would be making almost nothing on his "Goodwill"...)
1) He was going to do insurance postcard mailings for lowcost whole life insurance policies to lower income urban people that they would use as final expense insurance. I was supposed to run his appointments and aim annual premium at 4% of their annual income total...
He said the Avg annual premium would be About $900.00

2) A "Highly Professional" appointment setter would set the appointments for me, about 8 a day.

3) These clients are "Triple Screened" because If I don't write policies he makes nothing either...
(Out of his "Almost Nothing"...)
(I've been down the appointment setter route before...Is there ANY way to do this successfully?)

4) My Great Friend told me My cut would be 22% of annual premium (He had a "Mother Theresa" like demeanor on the phone...The prick was looking to average me at 200.00
earnings per written client...BUT it gets BETTER!!!...

Here is the BEST PART!!!...He was going to hold BACK 50% of my 22% commission and pay it to me at a "LATER TIME" as a BONUS!!!
(What A GREAT Guy...)


Obviously this LOWLIFE P.O.S. Filthy Bald Dwarf TROLL
thinks I'm pretty stupid...
HOWEVER!!!
This is a possibly GOOD business model to do SOLO...

Could Anyone give me some direction on HOW TO Successfully implement this model for myself...

Please Respond:
DQuinn888(at)Gmail.com

THANKS!!!

 

[arnguy]

Grab it while it's hot!!!!!

Please tell us how you really feel about this guy

 

[Crabcake Johnny]

Lower income urban people have $75 a month for insurance? News to me.

 

[HomeService]

As my screen name would prove, I have been a debit agent - I sell to lower income folks. My target premium is like $20-$40 per month. Cash. It is a great business model but you must be with a company that accepts cash. And mail leads do not work, you have to knock doors. Because the people move around a lot, and do not accept mail in the same place year after year. And, it may not work too well in NYC. I used to live up there in the Hudson Valley, may work better in like White Plains or Beacon or somewhere.

 

[saintquinn]

Grab it while it's hot!!!!!

Please tell us how you really feel about this guy

DUH!!!
Thanks, Maybe NOW I'll take him UP on his OFFER....
DAUHHHH!!!

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As my screen name would prove, I have been a debit agent - I sell to lower income folks. My target premium is like $20-$40 per month. Cash. It is a great business model but you must be with a company that accepts cash. And mail leads do not work, you have to knock doors. Because the people move around a lot, and do not accept mail in the same place year after year. And, it may not work too well in NYC. I used to live up there in the Hudson Valley, may work better in like White Plains or Beacon or somewhere.

Thanks for answer...
Here in NYC (Brooklyn) People really don't move that often...
Knocking on doors HERE is a NO-NO (Not done here residentially)...
This agent mentioned 4% premium of annual income ...
So I imagine that would be in the 50.00 a month range...

Any further elaborating would be appreciated...

 

[Norwayguy]

DUH!!!
Thanks, Maybe NOW I'll take him UP on his OFFER....
DAUHHHH!!!

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Thanks for answer...
Here in NYC (Brooklyn) People really don't move that often...
Knocking on doors HERE is a NO-NO (Not done here residentially)...
This agent mentioned 4% premium of annual income ...
So I imagine that would be in the 50.00 a month range...

Any further elaborating would be appreciated...

$900 annual premium is $75 per month... and if that 900 represents 4% of income your looking at annual earners in the $22K range, not sure what your medicaid income limits are but since these would be WL policies that would eventually create cash surrender value wouldn't that eventually run amok of their Medicaid help....I guess not to worry because this opportunity would crash long before then.

 

[saintquinn]

$900 annual premium is $75 per month... and if that 900 represents 4% of income your looking at annual earners in the $22K range, not sure what your medicaid income limits are but since these would be WL policies that would eventually create cash surrender value wouldn't that eventually run amok of their Medicaid help....I guess not to worry because this opportunity would crash long before then.

Peter,
I completely agree that that opportunity would crash...

Does anyone know of any Life Insurance Company that actually does mass mailings and book me solid appointments for a in return for a reduced annual commission ...in NYC?
(and not advance me full annual first year commission?)

 

[Bertolinoins]

Lower income urban people have $75 a month for insurance? News to me.

It is about as likely as low income people responding to direct mail and scheduling an appointment with an agent... and then actually keeping that appointment. I managed low income apartments for 30 months right out of college so I am very familiar with the poverty mindset. I don't think this is a viable marketing plan.
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Lower income urban people have $75 a month for insurance? News to me.

It is about as likely as low income people responding to direct mail and scheduling an appointment with an agent... and then actually keeping that appointment. I managed low income apartments for 30 months right out of college so I am very familiar with the poverty mindset. I don't think this is a viable marketing plan. As the experienced debit agent said... That market segment is a face to face cash business with you collecting in person between the first and the 4/5th of the month.