Never Assign Commissions To Agency

[TPAAgent]

If you're new to insurance

Never "assign" your commissions to any agency...

They'll advance you 9 months, and if you dont produce.. they'll send you a termination letter and take your last 25% and any annual commissions

It's the norm- especially health insurance agencies that pay you directly

They are no better than the crap internet lead co's on the net... They are whats on the bottom of an ocean floor 200 feet below

Always get paid direct from the insurance company...

I been with some life companies and havent written crap with them for 5 years and they'll still keep you

You "assign" your commissions and they'll terminate you, they'll make some excuse

So be careful, be smart and dont ever give in to ANY company that you have to assign your commisions to, regardless of how much they pimp their crappy "lead system"

You can thank me later

 

[Frank Stastny]

Re: Never Assign Commissions

Spot on! Amen!

The absolutely worst thing an agent can do in assign their commissions. As you said, don't fall for all the crap that is promised. Those are hollow promises and they never become reality.

 

[WinoBlues]

Re: Never Assign Commissions

I also agree.

Also, keep your own files. Do not use company or agency business cards or stationary. Print only your own phone number, toll free # and email address.

 

[jdeasy]

Re: Never Assign Commissions

I agree. New agents please take this advice. I didn't have this board to warn me. I learned this lesson the expensive way.

 

[redsquash]

Re: Never Assign Commissions

When you say "assign" - does it include when commission is coming through the brokers like EFinancial etc. Carriers dont give appointments to the new agents, so we have to go through the Brokers. How can we have insurance company pay directly to us, without going it through the broker?

I agree. New agents please take this advice. I didn't have this board to warn me. I learned this lesson the expensive way.

 

[thall]

Re: Never Assign Commissions

I'm going to jump in here listen to these guys, I don't care what they say if they they want give you a letter up front stating that they will give you a release move on. The world is full of FMOS IMOS DVDS MRIS SUVS etc.

 

[VolAgent]

Re: Never Assign Commissions

When you say "assign" - does it include when commission is coming through the brokers like EFinancial etc. Carriers dont give appointments to the new agents, so we have to go through the Brokers. How can we have insurance company pay directly to us, without going it through the broker?

That is complete and other BS that someone is feeding. Yes, the carrier may want you to work through an IMO, but the carrier will most certainly pay you direct. They may not advance, but they will pay direct. Also, there are plenty of carriers that will advance if an IMO is in the mix.

 

[TPAAgent]

Re: Never Assign Commissions

My Gawd..

Please people....

Dont ever assign commissons especially to a Med Supp agency

That stuff pays you anywhere from 18-20% for the next 6 years

Please, I beg you.. for your own good...

They will lure you with 20% commissions and crap leads and termiante you for "cause" if you dont produce

If you can get 18% paid direct or 20% paid "assigned"

Take the 18%

You can thank me later

 

[Franz Kafka]

Re: Never Assign Commissions

All the policies that I wrote in my first year - including over 50 permanent policies - were assigned to the MGA. Right after I quit the agency, the carrier terminated me "just because (no cause)". Besides the fact that all my renewals go to them, the carrier (a big reputable one) still would not appoint me so I can service the old clients. Oh did I mention that they paid me 40% of the 90% FYC (they were getting 125)? I'm still here, you vermins.

 

[Larry Tew]

Re: Never Assign Commissions

These threads continue to remind me why I'm independent.