$7,000.00, a Dream, and a Whole Buncha Entreprenurial Spirit

[LVAGENT]

I'm sure as much as this guy likes being flattered for the way he writes, nobody has given him any advice towards his real goals.
Im in the same boat as you brother, with around the same starting capital. I look forward to hearing your successes and failures along the way of being an IA.
I will also post my errors and successes here so all can learn from them. Best of Luck to you buddy!

 

[Jamie@stainless]

I am new to the forum as well. I am extremely interested in your post because I am interested in the commission expectations of those newly entering the insurance field.

 

[STIBROKER]

I am new to the forum as well. I am extremely interested in your post because I am interested in the commission expectations of those newly entering the insurance field.

Welcome.......what type of insurance are you going into.........

 

[Jamie@stainless]

Welcome.......what type of insurance are you going into.........

I am not really going to be selling. I guess you could say I am "head hunting" I don't really care to advertise just yet though because I don't want to be spammed. I am hoping to learn what I can from this forum so I can apply the information to my business.

 

[mfancher]

Merry Christmas. This is a time to be thankful we are able to provide for our families and loved ones. Making a living is harder each day, and in some ways hardens us to the reasons we get up and make things happen. I am sure if you take a look around you will find that you don't have it as bad as "that guy". We don't dig ditches or wear funny hats and ask if you want fries with that. We talk for a living and compared to allot of professions we are set. Take this time to look around and take stock, look at the people that depend on you, and the impact you have on them. Take a look at where you are at and where you are going, and don't feel pressure or anxiety, rather feel pride and compassion. In most cases we are our families rock and I believe that is an HONOR rather than a burden. It is ok to smile and feel pride in what you have built and accomplished, as long as is does not change who you are or who you want to be. Thank you.

 

[Jamie@stainless]

Welcome.......what type of insurance are you going into.........

Hence my question regarding commission sales. I need to find out expectations in the insurance sales industry...

 

[rousemark]

I'm sure as much as this guy likes being flattered for the way he writes, nobody has given him any advice towards his real goals.
Im in the same boat as you brother, with around the same starting capital. I look forward to hearing your successes and failures along the way of being an IA.
I will also post my errors and successes here so all can learn from them. Best of Luck to you buddy!

He

While he said he would welcome advice, he didn't really ask for any. It appears the stated purpose of the thread is for him to document his progress.

As for general advice, the old cliche applies.. Study, work hard, specialize. Become the expert in your area in your chosen specialty.

If you or he asks for specific advice, I am sure some of the experts on the forum will be glad to try to help.
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Hence my question regarding commission sales. I need to find out expectations in the insurance sales industry...

If you will search the forums you will find many posts that address compensation. You can also do an internet search of the recruiting ads for insurance agents and professionals.
- - - - - - - - - - - - - - - - - -

I am sure if you take a look around you will find that you don't have it as bad as "that guy". We don't dig ditches or wear funny hats and ask if you want fries with that. .

Did all that in my younger days and never thought of it as having it "bad". In fact, I and most of my coworkers did it with pride, doing the best job we could do.

 

[crphoneenglish]

Hence my question regarding commission sales. I need to find out expectations in the insurance sales industry...

[FONT=Verdana","sans-serif]Expectation vary widely, but thecommissions themselves have dropped considerably.[/FONT]

[FONT=Verdana","sans-serif]The last Major Medical I wrote to someone over 60 years old gets me about $10 amonth in commission @5%. [/FONT]

[FONT=Verdana","sans-serif]A good life policy from a New York company only gets you 50% commission even asa broker , and life insurance is hard to sell. This , I must point out, has notchanged.[/FONT]

[FONT=Verdana","sans-serif]Finally , just got 4.75% for a Medicare Supplement sale - the only thing mostagents here can sell ( beside a little "final expense" pushing northof a 105% commission ) which after MoO took off the premium for the Part Bdeductable, made this $200 premium less than $10 a month. Granted the lady wasover 80 and it was Guaranteed Issue ( but so many are now days ) but 27 yearsago when I got into the business I got 30 to 40% on over and under 65 healthsales. [/FONT]

[FONT=Verdana","sans-serif]So now almost three decades later my commission is DOWN 300 to 400 % ! [/FONT]

[FONT=Verdana","sans-serif]I still love the business - prospecting is my favorite part of it, as ismarketing and I do enjoy going to homes, although the online application is farmore efficient in terms of getting everything needed all in one sitting. [/FONT]

[FONT=Verdana","sans-serif]So don't let me discourage you because if you have the "eye of thetiger" , as one of my mentors Gino Giacamazzi said I did at Bankers Life andCasualty ( when it was still a good company)n in 1984 ( I can't forget Larry Schweinfurteither - great guy ) then you will do fine. You will have to make more sales but if your credit is not good enough for an advance, you are going to havereal problems with cash flow. [/FONT]

[FONT=Verdana","sans-serif]It makes a big difference if you get 2 or 300 dollars vs get $20 in commissionif you are as earned. [/FONT]

 

[Jamie@stainless]

Wow $10.00 to 50% that is a huge variance! I can see where it would be beneficial to understand the industry to know what area to pursue. Have you ever dabbled in pre-need? I saw one post in here that said you had to be a funeral director to sell it. Does that vary state to state? Thanks for you assistance on this.

 

[insuremeplz]

[FONT=Verdana","sans-serif]Expectation vary widely, but thecommissions themselves have dropped considerably.[/FONT]

[FONT=Verdana","sans-serif]The last Major Medical I wrote to someone over 60 years old gets me about $10 amonth in commission @5%. [/FONT]

[FONT=Verdana","sans-serif]A good life policy from a New York company only gets you 50% commission even asa broker , and life insurance is hard to sell. This , I must point out, has notchanged.[/FONT]

[FONT=Verdana","sans-serif]Finally , just got 4.75% for a Medicare Supplement sale - the only thing mostagents here can sell ( beside a little "final expense" pushing northof a 105% commission ) which after MoO took off the premium for the Part Bdeductable, made this $200 premium less than $10 a month. Granted the lady wasover 80 and it was Guaranteed Issue ( but so many are now days ) but 27 yearsago when I got into the business I got 30 to 40% on over and under 65 healthsales. [/FONT]

[FONT=Verdana","sans-serif]So now almost three decades later my commission is DOWN 300 to 400 % ! [/FONT]

[FONT=Verdana","sans-serif]I still love the business - prospecting is my favorite part of it, as ismarketing and I do enjoy going to homes, although the online application is farmore efficient in terms of getting everything needed all in one sitting. [/FONT]

[FONT=Verdana","sans-serif]So don't let me discourage you because if you have the "eye of thetiger" , as one of my mentors Gino Giacamazzi said I did at Bankers Life andCasualty ( when it was still a good company)n in 1984 ( I can't forget Larry Schweinfurteither - great guy ) then you will do fine. You will have to make more sales but if your credit is not good enough for an advance, you are going to havereal problems with cash flow. [/FONT]

[FONT=Verdana","sans-serif]It makes a big difference if you get 2 or 300 dollars vs get $20 in commissionif you are as earned. [/FONT]

These numbers are very low FWIW. Maybe New York is different? In other states supp's are generally > 18%.