Street Contracts?

Mjohnm87

Expert
22
Hello!

I've seen the term street contract on here a few times but not in much detail. Can anyone explain it to me? Does it mean I don't need an agency affiliation to sell life insurance? Can I contract directly with insurance carriers without an agency?
 
Hello!

I've seen the term street contract on here a few times but not in much detail. Can anyone explain it to me? Does it mean I don't need an agency affiliation to sell life insurance? Can I contract directly with insurance carriers without an agency?

It is usually referring to the highest commission level an agent can get without proof of production.

Be wary though. Many IMO's say "street", but that's THEIR street that they have made up, not the insurance company's definition of street.
 
It is usually referring to the highest commission level an agent can get without proof of production.

Be wary though. Many IMO's say "street", but that's THEIR street that they have made up, not the insurance company's definition of street.

Thanks. How do you get street commission rate? Do I need to be affiliated with an agency to do so? Can I sell on my own without affiliation?
 
Thanks. How do you get street commission rate? Do I need to be affiliated with an agency to do so? Can I sell on my own without affiliation?

Many companies will contract you direct. It's really according to which company and the main market you're in. For instance, most Final Expense companies will not contract you direct. They will make you go through an IMO.

Besides that, a good IMO can provide service and help whereas the individual insurance companies might limit you on that. You can only gain by going through a good IMO. Sometimes the IMO's can give you a higher level than going direct to the companies too.
 
Last edited:
Hello!

I've seen the term street contract on here a few times but not in much detail. Can anyone explain it to me? Does it mean I don't need an agency affiliation to sell life insurance? Can I contract directly with insurance carriers without an agency?

"Street" is a slang term that the insurance I am most came up with to get Agents to not focus on the actual numbers of the commission levels they're giving them. Three different agencies can I claim they're giving you Street and they can all three be different commission levels,

What do you want is the grids. The actual chart showing the first year and the renewals that you will be contracted to.

Many companies will let you contract direct but always compare their commission grades to what you can get through an agency. It defies logic but going direct to a company will generally get you a lower commission not a higher one. And you will definitely be giving up excess to leave programs training and other things that the agencies can offer you.
 
"Street" is a slang term that the insurance I am most came up with to get Agents to not focus on the actual numbers of the commission levels they're giving them. Three different agencies can I claim they're giving you Street and they can all three be different commission levels,

What do you want is the grids. The actual chart showing the first year and the renewals that you will be contracted to.

Many companies will let you contract direct but always compare their commission grades to what you can get through an agency. It defies logic but going direct to a company will generally get you a lower commission not a higher one. And you will definitely be giving up excess to leave programs training and other things that the agencies can offer you.

You and I have been through this before. When I talk about "street" levels, it's not something I make up, it's what the company tells us is street. I'm still not sure where you see all of these agencies making up their own "street" level. It's easy enough to call the companies to verify what street levels are that they have set.
 
You and I have been through this before. When I talk about "street" levels, it's not something I make up, it's what the company tells us is street. I'm still not sure where you see all of these agencies making up their own "street" level. It's easy enough to call the companies to verify what street levels are that they have set.

Because agencies that give half of what you and I give call theirs street too. Street may have a definite definition with some companies but with others it does not. And even the ones that have a definite street level don't put the agencies in the penalty box if they call what they give out the street and it's lower. Sometimes way lower.

So the only way it makes sense for Agent to compare is to get numbers. Numbers have no gray area. The term street level has all kinds of grey area.
 
Because agencies that give half of what you and I give call theirs street too. Street may have a definite definition with some companies but with others it does not. And even the ones that have a definite street level don't put the agencies in the penalty box if they call what they give out the street and it's lower. Sometimes way lower.

So the only way it makes sense for Agent to compare is to get numbers. Numbers have no gray area. The term street level has all kinds of grey area.

50 Shades??? .
 
If you aren't getting above street contract you are a sucker plain and simple

Plenty of people and organizations on and off this forum who can accommodate.

Examole. A lot of the major players who are in final expense on. This forum may offer 120 or 125 with Mutual of Omaha. However many people can easily get 130 or 135 with no proof of production.

All about knowing where to place contracts
 
Back
Top