Roll Up Debt & High Commissions-not what it seems?

[Sylver Gallardo]

There is plenty of information on the internet these days that agents should know to NOT sign up with ANY agency without comparing commission levels on ALL insurance companies before signing up. If you just do the most basic comparison you can see that FFL gives you much lower commissions on FE companies than their competitors.
No new agent should sign up under a pyramid recruiting agency. And no new agent should pyramid recruit themselves. You are co-signing debts on these long shot agents. Duh?
Make sure you feel the person responsible for training you is successful in the biz and competent and has at minimum a 3-year history of solid production. Don’t accept just training videos as your training. You need ongoing interactive communication.
Just because an agency pitches that they are wonderful, it’s on YOU if you don’t use basic common sense to compare.

This is very true. From my experience with this particular company, I luckily did have good people who are successful, but blow me off when I ask certain things: rebuying someone’s old leads, why are we blocking this person, can I go on a ride along with you. And it wicked because it depends on the agent. While one may say yes, yet be green to the industry, the one who says no is the one who is more successful with more experience. So where did that leave me? 20 minute presentations and some chargebacks. No deep presentations. It’s like of u are selling to your pocket instead of really helping these people understand. I can’t lie, everyone is helpful. Even when not in your upline, but there are things I couldn’t help but notice. And idk if I’ll ever go back to insurance now.

 

[Newby]

This is very true. From my experience with this particular company, I luckily did have good people who are successful, but blow me off when I ask certain things: rebuying someone’s old leads, why are we blocking this person, can I go on a ride along with you. And it wicked because it depends on the agent. While one may say yes, yet be green to the industry, the one who says no is the one who is more successful with more experience. So where did that leave me? 20 minute presentations and some chargebacks. No deep presentations. It’s like of u are selling to your pocket instead of really helping these people understand. I can’t lie, everyone is helpful. Even when not in your upline, but there are things I couldn’t help but notice. And idk if I’ll ever go back to insurance now.

You never really stood much chance at a place like that. Find an agency that is smaller and more focused on really selling insurance. Places that are focused on recruiting masses of agents just aren’t going to give you the same experience.

 

[Jack12345]

This is very true. From my experience with this particular company, I luckily did have good people who are successful, but blow me off when I ask certain things: rebuying someone’s old leads, why are we blocking this person, can I go on a ride along with you. And it wicked because it depends on the agent. While one may say yes, yet be green to the industry, the one who says no is the one who is more successful with more experience. So where did that leave me? 20 minute presentations and some chargebacks. No deep presentations. It’s like of u are selling to your pocket instead of really helping these people understand. I can’t lie, everyone is helpful. Even when not in your upline, but there are things I couldn’t help but notice. And idk if I’ll ever go back to insurance now.

Would it be okay if I reached out to you about all this? I've been with FFL around 9 months now and have had some good months issuing 15-20k but have been slapped with massive chargebacks and have some serious concerns with FFL but don't want to leave the industry entirely.

 

[Todd King]

Would it be okay if I reached out to you about all this? I've been with FFL around 9 months now and have had some good months issuing 15-20k but have been slapped with massive chargebacks and have some serious concerns with FFL but don't want to leave the industry entirely.

You don't have to leave the business entirely just to get away from them. Do pay those chargebacks though!

 

[WinoBlues]

You don't have to leave the business entirely just to get away from them. Do pay those chargebacks though!

Question re Charge Backs - I assume FFL Vectors these people. If they are on a payment plan or show that they are trying to pay it off will other companies contract them? Seems that just the increase in comp would make a payment.

 

[Todd King]

Question re Charge Backs - I assume FFL Vectors these people. If they are on a payment plan or show that they are trying to pay it off will other companies contract them? Seems that just the increase in comp would make a payment.

Some companies will take it off if you make arrangements with them and keep up with it. Some won't budge until it is paid off. If it does show a Vector hit, best to just pay it as soon as you can.

 

[Edward A Taylor]

I have heard a lot of info on FFL recently, and some good and some bad! I would say that for a new agent, that FFL would not be a good fit. Finding a good company to work with and trust, is a bit hard at times. However; they are out there waiting for you! I have found a few over the past 42 years. I would say, make sure you pay your debt and cut your loses and leave. Good Luck!

 

[eddie]

Be careful of too much debt and pay it back. A lot of companies will also cancel your appointment due to persistency problems as well and those up lines won’t tell you that.
Plus, beware when these agencies show you all this premium they are writing. Ask them to update you in 3-6 months to see how many are still on the books. It’s not what you submit, it’s what you keep!

 

[Newby]

Be careful of too much debt and pay it back. A lot of companies will also cancel your appointment due to persistency problems as well and those up lines won’t tell you that.
Plus, beware when these agencies show you all this premium they are writing. Ask them to update you in 3-6 months to see how many are still on the books. It’s not what you submit, it’s what you keep!

That’s a BIG reason to ONLY believe insurance company leaderboards and trip earners.
The insurance companies do NOT give conventions in Hawaii away for fake numbers. It’s all verified. Anybody else can say anything. And they do.

 

[SoCalAdvisor]

See, this is the problem with FFL as this is untrue: If you are on a 125% commission, that is exactly what the carrier pays you. Now, most carriers will limit the advance to 75% of that first year commission, but it is 125%. I have several 125% contracts and even if I sell just one or tow policies with those companies this year, they will pay me 125% of the first year premium.


Actually, it is true. As you look at the FFL commission grid you'll see why.




If you recruit you sign for the debt of your agents.

Again, this is the problem with FFL: You are new. You hjave no business recruiting agents. And yet I have seen FFL videos on youtube where agents were admitting they recruited new agents before they themselves were licensed to sell insurance. I can't even imagine that that is legal.

None of which helps you at this point, but it is a well-deserved rant, imo lol.

If you have debt that has been rolled to you, the first thing you need to make your mind up to do is get to work and write enough business to cover that debt. And you must do your level best to write good business that will stick. And any policies that are falling off the books, whether your own or written by your down line agents you should get out and visit and try to save.