What Do You Do to Increase Your Commission?

[NoFault]

When I first came back into the insurance market, I signed up with a local MGA. I thought he was very experience and can be my mentor. From the beginning I got no formal training, no product training just contracts with the carriers he says. From my first FE sales till now, I do everything all by myself and get my training from here, and by reading the carriers info. For the first 2 weeks I do get mail leads, usually 10 per weeks and I closed about 3 every week for FE. Now he says that those mail leads are just a waste of his money and wont do it anymore. No more leads from him. So from what I learn from here, and with my income that I make on my own, I hired 4 telemarketers to generate leads for me. Now I got about 30 exclusive leads per week, I can get more but I told my Tele that's all I want per week. I average about 75% appointments and closed about 45% of the appointments. I turned in about 50% of my business to him, since he is the one who showed me another view of the market, unlike my previous MLM affiliations. The other 50% goes toward other companies besides the one he gave me. But I love the Term Life company, especially TA that I signed through him.

How do I get him to increase my commission, and if he refused to, can I bring those carriers I signed with him into another IMO or MGA? I have a 55%-60% commission from him for all the carriers and products whether it's a FE, UL, TL, or WL.

I really love this guy, but I feel like he's taking advantage of me. I worked my ass off without his help at all, because everytime I ask him, he told me he believed in me and do what I do best...For example, for 2 whole months of working on one case, I wrote a $3100 annual policy, and I only get $1200 in compensation. Everything is done without his assistant or his help. I get all my info from here.

 

[GreenSky]

Most carriers allow for multiple appointments. If I can help with any, please let me know.

Rick

 

[Franz Kafka]

Many MGAs recruit newbies and screw until they see the light. Then they recruit some more. Call Rick. He offers some of the highest street levels on most products.

 

[johndale]

Smooth and nice conversation might help.

 

[360]

I don't think you'll find very many people around here that would advise you to negotiate with him for higher contracts. 55-60% with you footing 100% of your own marketing expenses and not receiving training or support really isn't operating in good faith. IMHO he should have come to you with a commission bump when he decided it he was no longer going to provide the leads. The good news is you're getting ready to double your commission and it sounds like you've already got your lead system down...smooth sailing ahead.

If he won't give you a release you may have to sit out with a couple of carriers for 6 months but there are several ways you can encourage him to see it your way .

 

[souldeux]

From what you've said here and some questions you've asked in the life section, it's clear to me that you're getting screwed. Your comp isn't high enough and you're flat-out getting no support.

Like Rick said, several companies offer multiple appointments, meaning you can have more than one writing number with a single company. You can pick up a couple of those with a new upline and try out a new configuration without cutting your existing ties.

You said you feel like you're being taken advantage of, and you're right. It's time to make a change.

 

[WinoBlues]

Kou,

We have talked a couple of times. I would recommend that you talk to Rick or Nick. Also plug into their webinars. You have the desire and work ethic. Add training and you will make $$$