I Need Advice

[skydog]

I have a company that wants me to work for them. Here is their offer:

Mortgage Protection
Life insurance
final expense
annuities

30+ carriers

60% commission to start

if I bring in someone from anywhere in the nation and we have 10K AP/week for two months I get 65%....if I get to 110% with my team writing 50K AP/week then I am vested and get .10% a tenth of one percent of what the company writes for the year... this year they are writing 30M. Please advise....thanks!

 

[xrac]

Why the secrecy who is the company??????????????

 

[TwiLight]

Sounds like NAA.....

BTW... to the OP... Runnnnn that offer is the worst. You should get 80-100% (depending on product and company to Start) if you need Training and and Mentor....

Do some more searching on the forum to be more informed.

 

[skydog]

This offer stands for anyone else I bring in as well. If you bring in the people and get to 110%....you are vested as well.

I understand I could get 80%-100% ... but if I bust my rear to recruit good people...in a few years I think it's reasonable to think I could get to 110% AND get 0.10% of company's writings...this year that would be 30K a y ear extra.....plus I would be making 110% on what I sold. That 30K is bound to increase in the next few years.

 

[AdvisorsIns]

This offer stands for anyone else I bring in as well. If you bring in the people and get to 110%....you are vested as well. I understand I could get 80%-100% ... but if I bust my rear to recruit good people...in a few years I think it's reasonable to think I could get to 110% AND get 0.10% of company's writings...this year that would be 30K a y ear extra.....plus I would be making 110% on what I sold. That 30K is bound to increase in the next few years.

There are better ways to do this. Get your training there then bust out. You can open an agency and work through MGA's to get contracts for life companies. Then just hire people under you. You will get the higher commissions up front and then take some off the top of the people who work for you. This is what I do. I also run a P&C agency with multiple sales agents.

My advice to have a steady stream of recurring revenue - get your p&c license and get appointed with progressive. Hire some one to sell their auto. Start multi-lining those clients with life and expand your market. Get appointed with ASI for home through progressive.

Life insurance renewals suck big time. I pay the bills with p&c. Life and financial put the boat in the driveway

That company and your half ass producers you will find will drain you to insanity and right out of the industry.

 

[Newby]

I have a company that wants me to work for them. Here is their offer: Mortgage Protection Life insurance final expense annuities 30+ carriers 60% commission to start if I bring in someone from anywhere in the nation and we have 10K AP/week for two months I get 65%....if I get to 110% with my team writing 50K AP/week then I am vested and get .10% a tenth of one percent of what the company writes for the year... this year they are writing 30M. Please advise....thanks!

Wouldn't you rather start at 110% and be vested on day one?

That's the normal way to do it.

 

[skydog]

so, no one thinks long term here is good. Just get training and get out?

This is what's appealing to me...
they train who I recruit and from what I've seen have great support that would give all tools necessary to be successful.
I'm not forced to recruit...or do anything.
I honestly think in a few years time...by the time I reach 110% my 0.10% would be 50K +...just for getting people for them to train. Yes, it will take a while to get 10 good people...but doable...

----------

I am new and don't have the skills to train someone...yet., but I can recruit...

 

[AdvisorsIns]

so, no one thinks long term here is good. Just get training and get out? This is what's appealing to me... they train who I recruit and from what I've seen have great support that would give all tools necessary to be successful. I'm not forced to recruit...or do anything. I honestly think in a few years time...by the time I reach 110% my 0.10% would be 50K +...just for getting people for them to train. Yes, it will take a while to get 10 good people...but doable... ---------- I am new and don't have the skills to train someone...yet., but I can recruit...

Just realize that recruiting is a full-time job and by the time you get 10 2 will fall off you'll add one more you lose three you add two so you'll be pretty much recruiting 100% of the time

The problem with recruiting as it doesn't make you any money. Until the recruits sell something. And then you're just making a percentage of what they sold. You would be better off spending the next two years building up a good book of business for yourself and then recruit. By that time though you will have enough confidence to go out on your own.

 

[skydog]

great point! Thanks for the great info!

 

[shawnmwalker]

Alright it is no secret I am a P&C guy. Can someone tell me what kind of multi level marketing the thread started is talking about. If he is recruiting 100% of the time and not selling, is this not multi level marketing?

I don't mean to be blunt just getting to the point. Feel free to school me respectfully. I am genuinely curious.

What Ins Advisor is talking about sound multilevel.