120% Life and 25% Health? Please Help

TPAAgent · 10-27-2009, 06:58 PM

I am a captive agent and found a company offering 120% life and 25% health all paying 12 months in advance

Anyone here work for www.unitedfreedomgroup.biz?

No contracts- own your own business, commission directly paid to me --- I just got my paperwork-- They have a exclusive lead dept -- I currently make 80% on life and 12% on health as a captive agent - Please- anyone?

*STIBROKER@AUSTIN.RR.COM* · 10-27-2009, 08:06 PM

Read the fine print....start at interest on advance....

healthagent · 10-27-2009, 08:13 PM

Double post.

*STIBROKER@AUSTIN.RR.COM* · 10-27-2009, 08:17 PM

Triple post....

arnguy · 10-28-2009, 03:47 PM

Quadruple post!

scotte · 10-28-2009, 05:32 PM

1. What are the comissions on fully med life policies?
2. Is each carrier different or the same commission across the board?
3. Do they have a case management option?
4. Do they advance on all life comapanys?

Full Throttle · 10-28-2009, 05:37 PM

Or most importantly, if you don't have proper training, are they going to teach you a system of prospecting/selling that works and is repeatable? Commissions don't matter until the other part is taken care of, 125% of a little premium is still a lot less than 55% of a lot of premium.

If you are trained, why go through another captive outfit? Go on your own and develop/pay for your own leads and obtain your own contracts.

TPAAgent · 10-28-2009, 06:29 PM

Originally Posted by Full Throttle

Or most importantly, if you don't have proper training, are they going to teach you a system of prospecting/selling that works and is repeatable? Commissions don't matter until the other part is taken care of, 125% of a little premium is still a lot less than 55% of a lot of premium.

If you are trained, why go through another captive outfit? Go on your own and develop/pay for your own leads and obtain your own contracts.

Almost afraid to answer your question - might get hate posts from GA's that are ripping off guys like me for years and paying me crap commissions

But from talking to them, they dont prospect - they have a in house marketing dept that generate 100% exclusive leads that cater around self employeed businesses.

Thay have a great DI program that is a hot seller that some of their agents prospect to small businesses and thats all they do. All their apps are done e-apps - no more going out and driving miles to see a client thats not home.

From what they told me they combine a couple insurance comapnies together and sell a package deal of health and DI/Life accidental thats pretty solid.

But yeah - They will train and some of the stuff they told me over the phone almost had me buying a policy from them

They are good - Both guys are really cool - No contracts- They told me I can keep my Transamerica and other companies - They are not worried about having agents using their leads to sell for another company because they pay the highest

Man I'm pysched!! I just went from 80% to 120% just like that!! Woohoo!!!

Expat · 10-28-2009, 06:53 PM

From their website:

As one of our agents, you can work right from your home and easily make $2,000 a week working part time.

If it sounds too good.............................................. .

healthagent · 10-28-2009, 06:55 PM

I'd like to address the "ripping agents off part." I used to run an agency and comped my agents "street level" which was 20% as does literally every agency in the country.

Why? First of all, the larger you grow you MUST have staff. Just dealing with commissions will become overwhelming. Top agencies have between 3 to 5 staff members just to handle commissions.

You're going to pay all of your agents from your agency, not direct; Humana, Golden Rule, Assurant's extra 5%, etc...As your agency grows you will not be able to handle commissions and chargebacks with only a 5% spread.

You absolutely will have to offer underwriting support. If you don't agents won't get deals issued and fall flat on their faces. Large agencies have typically 2 people on payroll to handle nothing but underwriting.

These large agencies who are "ripping people off" have large office space and from 10 to 25 employees. They are netting LESS than 5% overrides after the dust settles.

Chargebacks will destroy you on a 5% spread. Go ahead and advance GR - have an agent write for 3 months then quit. The chargebacks hit and how are you going to recoup? Go after the agent in court? Good luck with that.

In the meantime GR just sent you 20K and you have to pay out 30K. You're gonna comp Assurant agents the extra 5% from your agency. Again, how are you going to handle chargebacks?