Beginner's Guide to Insurance MLM

wfs · 04-28-2009, 02:40 PM

I just watched the videos for Independent Producers of America and UandI Win. It's the same old thing. Vision, Leadership, Changing Lives, the best thing since Vodka Martinis, etc...

UandI Win said that network marketing is "the franchise of the people". Now I am not an attorney (but I do play one on TV, and a damn good one) however I do not that it is against the law (ala FTC, the agency that governs franchises) to liken MLM to a Franchise. It is deceptive and untrue.

Why would an agent with any type of experience join MLM? The answer is simple - for a large residual income from other agents. But I think this can be done without MLM successfully.

You can be wildly successful by building a high-producing agency, going direct to companies (with a production commitment of course) and then offering decent contracts with $0 in commitments to independent agents. What's wrong with that???

I mean, if you're going to even bother building a "network" of agents, why not go direct to the company, give high contracts to all involved, forgo the entire churn-n-burn MLM thing, and not feel the need to recruit every friend, relative and client you lay your eyes on? An agency is going to be able to produce some great numbers without being MLM, and you will attract some of the best producers who would never consider MLM.

I have seen many MLM insurance hierarchies collapse. They never really last. Not for most anyway. Just a house of cards waiting to collapse. You may get a few years out of it. Not the lifetime amazing Tommy Vu - Real Estate Millionaire video that you were promised.

Now look at the MGAs and IMOs over the last 20 years. And look at your local insurance office that's been in business for 3 generations. Something has to be said for that.

somarco · 04-28-2009, 03:37 PM

YouTube - Tom Vu and his babes

Tom Vu - Ridiculous Infomercial Review

wfs · 04-28-2009, 07:33 PM

Originally Posted by somarco

YouTube - Tom Vu and his babes

Tom Vu - Ridiculous Infomercial Review

Too funny! You remember him too! Not exactly MLM, but another get rich quick, go to my seminar, buy my books and videos pipe dream. Remember William McCorkle? He's in jail now. I actually bought his package back in 92 and actually returned it and got a refund. And who can forget Don LePre. These were the forefathers of infomercial financial schemes. Carlton Sheets, ah the list goes on.

moonlightandmargaritas · 04-28-2009, 07:35 PM

Did you forget Dave Del Dotto?

somarco · 04-28-2009, 07:58 PM

Kevin Trudeau (Mr. Mega Memory) has been in so much hot water with the FTC, over and over again. He is like a vampire. You can't kill him.

He was in MLM (Nutrition for Life) then he got into infomercials. He pitched coral calcium, a product that was supposed to cure almost anything. When he got slapped around for that he came back with diet books, miracle cures . .. the list goes on.

What amazes me is the number of folks who have fallen for his pitch over and over again.

EDM · 04-28-2009, 09:56 PM

Originally Posted by somarco

Kevin Trudeau (Mr. Mega Memory) has been in so much hot water with the FTC, over and over again. He is like a vampire. You can't kill him.

He was in MLM (Nutrition for Life) then he got into infomercials. He pitched coral calcium, a product that was supposed to cure almost anything. When he got slapped around for that he came back with diet books, miracle cures . .. the list goes on.

What amazes me is the number of folks who have fallen for his pitch over and over again.

I can't stand Kevin Trudeau. They had a special on him on dateline or one of those shows and said that the FTC has banned him from selling any products on TV. He found the loophole by selling books, which are considered freedom of speech.
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Are the Independent Producers of America/Independence Holding Group a MLM organization?

joyngrady · 06-03-2009, 02:01 PM

HELP. Any suggestions on Allstate vs MetLife? Have interviews with both. right now selling for agency and not happy with led source and commissions.

mjd6852 · 07-01-2009, 03:05 PM

This is a VERY helpful Post.

I have seen in other posts that Universal American/PennLife/Senior Solutions have been mentioned as MLM's.

Is this true?

I am considering a position with this firm and do NOT want anything to do with a firm that is even PARTIALLY a MLM.

Thank you,

Mike

NoYesNo · 07-10-2009, 11:25 AM

They had to disallow post-posting edits for good reason.
Otherwise a spammer could post a bunch of 'normal' posts so they dont get immediately deleted. then when they are tucked away comfortably on page 2 of a thread, they edit the posts to include links and/or advertisements.