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Old 02-17-2013, 12:04 PM   #1
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HoosierLife on Gifts for Referrals?? - Insurance Forum
 
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Gifts for Referrals?? Gifts for Referrals??
I have heard some of you guys offer gift cards or money for referrals. First off, is that ok? I thought I read somewhere that's like sharing commissions with an unlicensed person.

Secondly, for those that do this, how much do you give away? And I assume its only for those that buy, not just a referral.

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Proverbs 29:11, "A fool uttereth all his mind: but a wise man keepeth it in till afterwards."
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Old 02-17-2013, 12:07 PM   #2
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Gifts for Referrals?? Re: Gifts for Referrals??
Originally Posted by HoosierLife View Post
I have heard some of you guys offer gift cards or money for referrals. First off, is that ok? I thought I read somewhere that's like sharing commissions with an unlicensed person.

Secondly, for those that do this, how much do you give away? And I assume its only for those that buy, not just a referral.
I give $20 gift cards to ther favorite restaurant for referrals.
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Old 02-17-2013, 12:17 PM   #3
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TDFnCali on Gifts for Referrals?? - Insurance Forum
 
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Gifts for Referrals?? Re: Gifts for Referrals??
Originally Posted by HoosierLife View Post
I have heard some of you guys offer gift cards or money for referrals. First off, is that ok? I thought I read somewhere that's like sharing commissions with an unlicensed person.

Secondly, for those that do this, how much do you give away? And I assume its only for those that buy, not just a referral.
Check ya state for rules of what u can & cant do....usually its something pretty small, if anything!

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TDF

If you don't know where you're going....ANY road will take you there!!
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Old 02-17-2013, 12:42 PM   #4
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Newby on Gifts for Referrals?? - Insurance Forum
 
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Gifts for Referrals??
Up to $25 value is usually OK except for MAPD which have a $15 per year limit.

It's important to give it for each referal NOT the sale. If you tie it to a sale you can't even give anything.

I tell mine that it's for a referral to someone who wants to sit down with me and discuss insurance. If it's just names, that's not a referral. If they call them and get me an appointment, that's definitely a good referral.

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Old 02-17-2013, 02:30 PM   #5
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Rearden on Gifts for Referrals?? - Insurance Forum
 
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Gifts for Referrals?? Re: Gifts for Referrals??
What are y'alls thoughts on gift-giving in reference to the Free AD&D Program American-Amicable allows for its agents?
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Old 02-17-2013, 02:37 PM   #6
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HoosierLife on Gifts for Referrals?? - Insurance Forum
 
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Gifts for Referrals?? Re: Gifts for Referrals?? HoosierLife is the thread starter for: Gifts for Referrals??

Originally Posted by Rearden View Post
What are y'alls thoughts on gift-giving in reference to the Free AD&D Program American-Amicable allows for its agents?
That's what I was going to do lol but I have that offer on the back of my business cards. Nobody's taken me up on that offer yet and I've handed out over 300 business cards in the last 6 weeks.

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Proverbs 29:11, "A fool uttereth all his mind: but a wise man keepeth it in till afterwards."
  Reply With Quote to Gifts for Referrals??
Old 02-17-2013, 02:41 PM   #7
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TDFnCali on Gifts for Referrals?? - Insurance Forum
 
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Gifts for Referrals?? Re: Gifts for Referrals??
Originally Posted by Rearden View Post
What are y'alls thoughts on gift-giving in reference to the Free AD&D Program American-Amicable allows for its agents?

When I 1st started last yr, that was my plan....then after reading over the diff carrier's products, I saw no reason to use Am-Am, so I felt I better not hand that out unless Im giving biz to them. I ended up NEVER using them, and they let me go for LOP! Oh well!

------------------------------------
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Old 02-17-2013, 04:14 PM   #8
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Todd King on Gifts for Referrals?? - Insurance Forum
 
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Gifts for Referrals?? Re: Gifts for Referrals??
Originally Posted by Rearden View Post
What are y'alls thoughts on gift-giving in reference to the Free AD&D Program American-Amicable allows for its agents?

1st off, it's a measly $1K coverage that only lasts one year. I've never had one agent telling me it actually worked.

American Amicable was going to completely do away with it but then decided to allow certain IMO's to continue with it if they wanted to. The IMO's were to print the policy and everything. Not only that, but you couldn't continue to do it if you didn't sell so much Am Am products. That's very understandable.

So, the way I've always looked at it is if American Amicable couldn't make it work, it probably wasn't going to work. So far, you can't prove it by me that it has.

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Old 02-17-2013, 04:33 PM   #9
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Gifts for Referrals??
I used it or should I say tried using it. All I got was caught up into a bunch of prospects that had no money and they all wanted was "Free" insurance
It was a waste
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Old 02-17-2013, 05:11 PM   #10
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Rearden on Gifts for Referrals?? - Insurance Forum
 
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Gifts for Referrals?? Re: Gifts for Referrals??
Well, Securus loves promoting the free insurance stuff through AmAm.

I think you can have equivalent success simply asking after tsale and delivery of the policy.
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