Senior Insurance Leads Company

[myinsurebiz]

" If I asked your trucker selling annuties 5 detailed questions about annuities he's get all 5 wrong - so would you. "

I've stated all along that I'm personally learning the biz from ground zero, so since I haven't begun my training on annuities - you have a point. Make the same statement a year from now and we just may have a challenge.

Now - I can't speak for my friend's knowledge on annuities - but he must be comfortable enough with it to sell it.

Tom

 

[myinsurebiz]

Salpro said - " What specifically would I get as agent for the initial enrollment fee + $49 a month? Website? Sales Manual? Webinars? Leads? Business Cards? etc. etc. "

They are enrolled into the program, given a replicated website, Toll-Free Virtual Office, have the ability to attend online and conference call trainings, ability to attend product workshops and access to their upline. Basically an association fee - but it's optional. They can still work with us and not pay a fee - but, the perks of the "association" would certainly be worth more than $49 to the new agent.

" Are you talking about 75% commission on life products and/or 75% of a defined payment schedule entailing the different insurance products you market. "

The comp plan is a % based comp plan. The agent earns between 50% and 75% on whatever commissions they "personally" create - whether it's a MA or a 20 yr Term. Then - should the agent "qualify" - they can participate in Team Over-Ride Commissions and Profit Pool Bonuses. This is where someone utilizing "leverage" can create HUGE residual income from working with their team and helping their team members build their business.

" How do you handle chargebacks? "

As a reverse debit. The comp plan will reverse the commission just as it credits it. Each agent coming aboard will sign an agreement to guarantee any debit balances. Of course - collecting it if they should leave is another story - but, we have a few contacts to help us retrieve any monies owed.

Also - all agents contribute to a charge back escrow. 20% of all their earnings ( personal production and overrides ) are withheld until they reach a certain plateau which is based on their production. Should they leave the company - then their funds will be released after they have surpassed in time the charge back window of the business written.

 

[J.R.]

Salpro said - " What specifically would I get as agent for the initial enrollment fee + $49 a month? Website? Sales Manual? Webinars? Leads? Business Cards? etc. etc. "

They are enrolled into the program, given a replicated website, Toll-Free Virtual Office, have the ability to attend online and conference call trainings, ability to attend product workshops and access to their upline. Basically an association fee - but it's optional. They can still work with us and not pay a fee - but, the perks of the "association" would certainly be worth more than $49 to the new agent.

" Are you talking about 75% commission on life products and/or 75% of a defined payment schedule entailing the different insurance products you market. "

The comp plan is a % based comp plan. The agent earns between 50% and 75% on whatever commissions they "personally" create - whether it's a MA or a 20 yr Term. Then - should the agent "qualify" - they can participate in Team Over-Ride Commissions and Profit Pool Bonuses. This is where someone utilizing "leverage" can create HUGE residual income from working with their team and helping their team members build their business.

" How do you handle chargebacks? "

As a reverse debit. The comp plan will reverse the commission just as it credits it. Each agent coming aboard will sign an agreement to guarantee any debit balances. Of course - collecting it if they should leave is another story - but, we have a few contacts to help us retrieve any monies owed.

Also - all agents contribute to a charge back escrow. 20% of all their earnings ( personal production and overrides ) are withheld until they reach a certain plateau which is based on their production. Should they leave the company - then their funds will be released after they have surpassed in time the charge back window of the business written.

What is the remaining 5% used for then?

 

[Crabcake Johnny]

" If I asked your trucker selling annuties 5 detailed questions about annuities he's get all 5 wrong - so would you. "

I've stated all along that I'm personally learning the biz from ground zero, so since I haven't begun my training on annuities - you have a point. Make the same statement a year from now and we just may have a challenge.

Now - I can't speak for my friend's knowledge on annuities - but he must be comfortable enough with it to sell it.

Tom

We we both could take a guess on the trucker's detailed knowledge of annuities and we'd both be right.

 

[CHUMPS FROM OXFORD]

myinsurebiz...Re A.L. Williams



I'm not sure if you were around when he started his shtick. But I was and I talked to a lot of people who bought into his scheme.

No doubt, there were many satisfied customers. But there were MANY MANY problems, not just in the product design, but in the way it was marketed.

I admire your ferocity, but of all people, to pick him to put on a pedestal. Well...you are doomed for failure unless you pick a new idol. How about Brett Favre?

 

[myinsurebiz]

Sal -

On a sale - the total commission is paid to the company. The company then enters this amount into the producing reps business center. The software pays the rep their % ( whether it's 50,60 or 75% ) - then the software starts paying upline to any reps in the team that qualify to receive over-rides. Any remaining amounts are credited to the company's bottom line. Then - Profit Pool Bonuses are paid to qualifying reps. 60% of the profits are shared with all qualified reps.

When we receive a check from a company - we input the data and any business paid on by Thursday will be paid to the rep on their Visa / MC on Friday - plain and simple.

For the sake of charge backs - each rep has 20% of any check they earn withheld until they reach their plateau. This includes personal commissions, over-ride commissions and profit pool bonuses - any check. Once they reach a certain limit - then the 20% deduction will cease. But in reality - it will probably never cease if the rep is actively producing business.

What we are going to investigate is how we can put these funds into an interest bearing account for the rep. I have someone checking on the legalities concerning this matter.

Hope that clears it up a bit.

Tom

 

[myinsurebiz]

Chumps -

It's not so much we're wanting to emulate Coach, but the distribution and training system ALW provided. Keeping it simple will provide for a shorter learning curve and the ability to rapidly expand. Success breeds Success.

Momentum will be the deciding factor. Should we be able to recruit motivated people to join us and be able to offer them affordable quality products to market - then momentum will carry us to the top. Should we be able to build brand awareness via hundreds if not thousands of trained agents - then half the battle will be won already.

Now - I'm basically on the outside looking in as I personally learn the biz - but, it seems the "trust factor" is a big hurdle. Our agents can use their "warm market", "referrals" and "pre-set appointments" to generate business in the beginning and use these sales to gain confidence. This will motivate them to push harder which will add to the company's momentum.

Will we be everything to everyone? Of course not. My personal goal is to create a steady residual income for my family, while being able to help others achieve the same. The idea is to create a company where average people will be able to do extraordinary things - and do it in less than 4 workdays per week . . . What is the sense in having lots of money if you don't have the time to enjoy spending it?

Tom

 

[Mr C]

I agree with John and Frank.... Any decent agent is not going to pay any type of "go to work" fees. And it takes a lot of hand holding, and tlc up front to get any new agents to produce. And the ones that start producing on their own learn very quickly that they can do what you do and they're gone. Personally, I recruit just so often, and the mainstay of what I do is personal production. I learned that I make 3 times as much and without all the headaches. And in this day and age when you can do it over the phone, or over the net, you've got to do personal production or you'll be short lived in this industry.

 

[Mr C]

Tom,
Are you kidding? You just "almost" bragged about ALW selling a high cost product and doing well with it, and then mentioning "coach Williams". Buddy, pick another idol. He hurt a lot of people in this industry and his methods were unsound.... profitable.... but unsound. That's why they're no longer around. And the MLM approach may have worked then..... in this day and age i doubt it. And your comment about "they are many people making money in MLM"..... my god...... just try to count the people in this country that lost every dime they ever put into ANY mlm company. The people that succeed aren't even a blip on the radar screen to the people who made $0. You'd be better off just trying to build a traditional agency with managers.

 

[myinsurebiz]

MLM isn't the problem - it's only a distribution network.

You need a marketable product.

You need production.

By the way - I haven't an idol - just an appreciation of what effort will do.

People can learn from history.

We're going to start small 20 to 30 agents over the next 60 days and get a feel for the whole deal. Recruiting isn't that hard part - we can attract 100's - training and supporting seems to be key. Easily duplicating the training and sales system will be the key.

Our target market is the part-timer, the stay at home moms/dads, semi-retired, etc. This market segment is hungry for extra income.

One plus to me having zero experience - is the fresh insight. Precisely why we need a few leaders that "paid their dues" that would be willing to "share" with their respective teams. Hopefully we'll find a few.

Tom