L&H Carriers and Commissions

[therhino]

Hello, all. First I'd like to say this forum has been great for a noob like me coming into the industry. I'm currently studying for my licensing exam, but have already been contacted by a company recruiting me as an agent. I've been thinking hard about which carriers I would like to get appointed with for health and life, and was wondering what your input was for which companies have the best commissions, products, and training.

Here is who I'm thinking for health:
1. Aetna
2. Golden Rule
3. Cigna
4. BCBS

With regard to being an independent health broker, I was under the impression first year commission was around 15-20%, however I have been unable to find a commission schedule over 10%. In addition, I was under the impression renewal commission is 4% per year, but it seems around 2-2.5% for the best I can find. Do carriers have plans other than what are publicly displayed on their website? Is there any room for negotiation? Which companies have the best commission schedule? Any helpful information would be greatly appreciated.

I initially thought I wanted to focus on health, but wouldn't mind dabbling in life and seeing which worked best for me. Unfortunately, I am clueless as to decent carriers and the types of commissions they offer. Any insight would be much appreciated.

 

[Crabcake Johnny]

Average first year comp is indeed 10% and you can expect to earn about $40,000 1st year if you study and work heard for individual health.

 

[therhino]

Average first year comp is indeed 10% and you can expect to earn about $40,000 1st year if you study and work heard for individual health.

Thanks, Johnny, good to know what to expect. Does it get better after the first year? Also, do those 4 carriers sound like a good place to start?

 

[Crabcake Johnny]

There's nothing wrong with any of the four carriers you listed. I'd recommend getting appointed with every carrier that writes in your state.

 

[therhino]

There's nothing wrong with any of the four carriers you listed. I'd recommend getting appointed with every carrier that writes in your state.

Great suggestion. I know this is off topic of my thread's initial purpose, but as long as I have your attention, what do you feel is the best demographic for individual health for a part-time newby to pursue? I've been thinking about finding my niche, and would love your input.

 

[Crabcake Johnny]

Small business owners. Actually, it's what's called "micro" business owners which have less than 10 employees and tend not to offer group plans. If you're going into this part-time - which is a rough road - I'd heavily suggest either telemarketing or going business to business cold call.

 

[therhino]

Small business owners. Actually, it's what's called "micro" business owners which have less than 10 employees and tend not to offer group plans. If you're going into this part-time - which is a rough road - I'd heavily suggest either telemarketing or going business to business cold call.

I'd like to get into the business side of it, but I suppose the idea of jumping right into that area kind of intimidates me. In addition, I have a full time job, so most of my work will take place after typical business hours, but right when individuals will be getting home from work.

I was thinking about starting off with some individual policies while I gain experience writing apps, then transition to business when I actually know what I'm talking about. The first year the money isn't going to be the biggest objective for me, mostly looking to gain knowledge about products and customer relations.