Charging a Fee for Insurance Advice

[Yagents]

Investment advice and health insurance advice are wildly different things.

There must be some reason you feel that these "low income" folks can afford to pay your fee?
Sounds like you're hoping. Are they seeking "expert advice" now? Wouldn't it be great if logic sold?

It must be fun quoting my "speculation" from over 3 years ago before we knew anything about the law. Commission was built in, so there is no need for a fee. I'm not even an RIA anymore. And yes, I know the difference between financial and insurance planning. Done them both over my career. Move on.....next!

 

[moonlightandmargaritas]

It must be fun quoting my "speculation" from over 3 years ago before we knew anything about the law.

Apologies - didn't notice your post was 3+ years ago.

Move on.....next!

I did.

I used to do 200+ ifp cases a year here in Florida. When Obama was elected, I saw that the handwriting was on the wall. By 2010 when the law was passed, I was 90% out of the ifp business, moving on to other things that I knew would be more profitable.

I'm done with any insurance products that are under the federal government's control.

Unfortunately, many held on in denial, hoping against hope. "It'll never happen to us!" was their mantra. Instead of adapting and thriving, they're still bitching and moaning - and most likely starving.

 

[HealthGuy]

Moon what have you been selling?

 

[YouGotMyMoney]

Moon what have you been selling?

The Morning After Pill to the dancers @ Thee Dollhouse/Pink Pony/Scores/Mons......lol take ur pick, limitless supply of customers ha

 

[somarco]

A1A, my comments stand as posted in 2010. What you can legally do varies by state.

 

[moonlightandmargaritas]

Moon what have you been selling?

I've done some medsupp over the phone stuff, but the majority of my time is spent with a final expense call center. Profitable - and no federal f-ups controlling it!

 

[HealthGuy]

Thanks for the reply Moon. HealthGuy

 

[swoodifg]

While you are out there charging for advice, please keep in mind that our agency would be thrilled to offer FREE direction to any client in need. Please don't get angry when they also choose to write business with us, instead. Sometimes you must give a little to get a little.

 

[OregonDave]

I've been thinking a lot about this lately. Fees are questionably legal in different states, however I am starting to wonder if charging by the hour for certain services is appropriate when dealing with 90/10 clients.

 

[AIABROKER]

While you are out there charging for advice, please keep in mind that our agency would be thrilled to offer FREE direction to any client in need. Please don't get angry when they also choose to write business with us, instead. Sometimes you must give a little to get a little.

That's fine, you can go spend $30 in gas and 3 hours of your time to write a $250 health policy at 3% commission (BCBS of MI. health policy).

Those are the ones that drive me to inquire about charging a fee of some sort to make up for that.

I guess if I did it for one, I would have to do it for all. Even the one's that are paying comp. at 15%. Or I could say my agency has a $49 application fee for those certain products.

It's just a thought. If I had the balls to do it I think I would really feel slimmey like I'm scamming in some way. They could tell me to F-off and I would just save my time and gas for those.

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I've been thinking a lot about this lately. Fees are questionably legal in different states, however I am starting to wonder if charging by the hour for certain services is appropriate when dealing with 90/10 clients.

What are your 90/10 clients? The ones that waste your time?