Senior Life Insurance Company

[myinsurebiz]

It is not I that had a different meaning but the industry. You will not find that term used in any insurance agent contract. For one thing renewal commissions are not "passive" income as the business requires ongoing service. Also, unlike an investment in an investment vehicle that pays a "trail" with out any additional deposits, the insurance contract generally requires additional payment in order earn renewals. Insurance agents need to quite using investment terminology to describe their product because in doing so they give ammunition to those that want to regulate insurance the way stocks, bonds, mutual funds, etc. are regulated.

Dude - you over thinking this thing . . . Are you a Mensa member?

I did the initial work and made my initial commission + I'll later earn more each month for the same efforts - I am earning "residual" income . . .

 

[goillini52]

Bahahahahaha - dude, I am resting it . . . While treating it to some cold beer

There you go with that noise again Lamb Chops. Enjoy your beer.

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It is not I that had a different meaning but the industry. You will not find that term used in any insurance agent contract. For one thing renewal commissions are not "passive" income as the business requires ongoing service. Also, unlike an investment in an investment vehicle that pays a "trail" with out any additional deposits, the insurance contract generally requires additional payment in order earn renewals. Insurance agents need to quite using investment terminology to describe their product because in doing so they give ammunition to those that want to regulate insurance the way stocks, bonds, mutual funds, etc. are regulated.

I agree with you. I've noticed a lot of IMO's using the word residuals instead of renewals, so I guess they're the ones to blame.

 

[myinsurebiz]

There you go with that noise again Lamb Chops. Enjoy your beer.

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Tom says:

Bahahahaha - I can't help it. Cold beer makes it all good . . . Like that other thread we in . . .


I agree with you. I've noticed a lot of IMO's using the word residuals instead of renewals, so I guess they're the ones to blame.

I didn't invent the word nor definition, despite my IQ

 

[Newby]

This thread just points out with a perfect example that NO agent should EVER sign up with any agency that won't clearly give you commission levels in writing (1st year and renewal).
Everyone knows what Tom is and expects this out of him. But the sad fact is that over half the agencies that recruit FE agents dance around the commission conversation exactly the same way he is doing. Like it's some complicated mystery and has to be discussed one on one at your third interview.
That is the dance that is designed to get you to accept less while you are ignorant of what you should be getting.
If you go in a nice restaurant and they wanted you to order BEFORE seeing the prices you would know that's not right. But for some reason agents will contract every day with only a vague knowledge of what they are to be paid. That's crazy. There should be no mystery to it.
Smart agents demand numbers. Commission levels are important. Vague Terms like "street" or like in Tom's case "we'll have to wait until the magic genie comes down from the heavens to tell us what YOUR renewals are" are just BS designed to screw you.
It's easy to compare numbers to other numbers. Numbers on a piece of paper are the ONLY acceptable answer when you ask ANY agency that you are considering what your commission level will be.
Don't be a fool. Tom is expecting his agents to be way beyond foolish. Doesn't necessarily make him a crook. He is just very specifically looking for very stupid agents. I hope anyone with enough sense to have found this forum is not that stupid.

 

[myinsurebiz]

This thread just points out with a perfect example that NO agent should EVER sign up with any agency that won't clearly give you commission levels in writing (1st year and renewal)

All agents know exactly what their earning levels are Newb. I just don't post Renewal % on forums. Matter of fact - this info is made available during every Agent Opportunity Presentation . . .

But the sad fact is that over half the agencies that recruit FE agents dance around the commission conversation exactly the same way he is doing. Like it's some complicated mystery and has to be discussed one on one at your third interview.

No mystery. Prospective agents know exactly what the deal is BEFORE they join . . .

That is the dance that is designed to get you to accept less while you are ignorant of what you should be getting.

Nobody tries to get anyone to "accept less ". They are presented with how the Program works. They aren't locked into shackles and held captive till they join. They join because they want too . . .

Smart agents demand numbers. Commission levels are important.
.

They are given the numbers. Don't be butt hurt that I won't post renewal %'s, but know that anyone coming aboard the OLA Train knows 100% how the program works . . .

It's easy to compare numbers to other numbers. Numbers on a piece of paper are the ONLY acceptable answer when you ask ANY agency that you are considering what your commission level will be.

Exactly! Everyone knows upfront what their #'s will be. No mystery - No deception - No worries . . .

Tom is expecting his agents to be way beyond foolish.

How so Newb?

He is just very specifically looking for very stupid agents.

Bahahahaha . . . I personally do not surround myself with stupid people

Carry On Haters. I choose to be like Nehemiah . . .

 

[Newby]

Tom if you are making it easy for the agents to know what they are signing up for without a big run around then I appologize. I took it differently.
But a word of advice When someone on the forum ask what your commission levels are rather than looking like you're avoiding the question that's a perfect opportunity to send them to where they can find your commission levels. It's free advertising.
Like if Agents were asking me the way they were asking you I would just instruct them to call the toll-free number on our website Monday through Friday and they will reach Mark who will gladly send them a grid that clearly spells out all commission levels for all companies. You are turning an opportunity into a negative.
— Your inside track to selling more, making more and working smarter

 

[myinsurebiz]

Tom if you are making it easy for the agents to know what they are signing up for without a big run around then I apologize. I took it differently.

No problem Newby. I've even posted personal earning levels - 45% to 65% and up to 85% if you have a Team that produces. I just don't post Renewal %'s because they vary so much. But - each Agent knows their earning schedule, including Renewals, before the decide to join or not . . .

But a word of advice When someone on the forum ask what your commission levels are rather than looking like you're avoiding the question that's a perfect opportunity to send them to where they can find your commission levels. It's free advertising.

I answered all the questions except Renewals since they vary so much. But - all numbers are discussed during the Agent Opportunity Presentations - Live and Online . . .

 

[GreenSky]

No problem Newby. I've even posted personal earning levels - 45% to 65% and up to 85% if you have a Team that produces. I just don't post Renewal %'s because they vary so much. But - each Agent knows their earning schedule, including Renewals, before the decide to join or not . . .



I answered all the questions except Renewals since they vary so much. But - all numbers are discussed during the Agent Opportunity Presentations - Live and Online . . .

For a guy not recruiting on the forum you're spending a lot of time recruiting.

Honesty not your strong suit?

Rick

 

[myinsurebiz]

For a guy not recruiting on the forum you're spending a lot of time recruiting.

Show me one post where I've recruited anyone ricky . . . As salty as you are, I'm surprised you are hydrated enough for your fingers to type . . .

 

[Newby]

No problem Newby. I've even posted personal earning levels - 45% to 65% and up to 85% if you have a Team that produces. I just don't post Renewal %'s because they vary so much. But - each Agent knows their earning schedule, including Renewals, before the decide to join or not . . .



I answered all the questions except Renewals since they vary so much. But - all numbers are discussed during the Agent Opportunity Presentations - Live and Online . . .

Two things.

How could your recruits have a team if they are green as a pea?

Why do the renewals not tie right in with the 1st year. Like if you say you give a 50% then the renewal should be a set number like 7% or 3% or something.

Unless you are meaning that it varies with different companies. I guess that answers my own question.