Insurance Agent Forum

[MarketingMachine]

Does anyone know what the different levels are for a Golden Rule Key Broker contract? What are the commissions at each level and what is required to qualify for each level?

[healthagent]

Have to see if they changed it but it used to be remitting proof that you've written 50 policies in the past year then a promise to write 100 GR policies over the next year. Comp is 25%.

[MarketingMachine]

Thanks healthagent. The reason I asked is because I was offered a 27% contract with Golden Rule through a broker and wondered what the top contract a Key Broker could have. How much could the broker's contract be to be paying me this much? Sounds a bit fishy.

[somarco]

How many policies did you write last year? Did you do 100+ with any particular carrier?

Any time someone offers comp significantly above street level along with bells & whistles like "free" leads, a BMW and a live in maid you should be suspicious. Yet somehow agents will fall for such pitches and think all they have to do is sign away their soul then kick back and watch the dollars flow to their bank account.

This doesn't even happen at Disneyland.

[Paradigm]

The challenge with key broker contracts is this. You are essentially appointed at 20% and that is paid to the key broker. The additional money 7% is paid to you when the Key broker receives his monthly bonus. Also the carrier now longer pays you directly but the check is cut from the Key Broker's business account. If he becomes insolvent problems arise in getting paid.

[ABC]

The 27% is right if you can deliver 100 policies.

They designed these plans and contracts for the online sales They even are partnered up with norvax.

They don't look at premium amounts just contracts.

[The Mole]

Actually, that's not correct. You would need to write 350 apps/year in order to qualify for a 27% contract. Also, they do have a contract where the sub in paid directly, which is how I'm set up.

[ABC]

Originally Posted by The Mole

Actually, that's not correct. You would need to write 350 apps/year in order to qualify for a 27% contract. Also, they do have a contract where the sub in paid directly, which is how I'm set up.

I was offered 27% for a 100 contracts.

I chose 22% for 20.

There are two different type of recruiters right now. I had phone conference with both of them. They will talk your ear off.

They have a program they called United Select Producers Club. You do have to prove how many apps you wrote last year to qualify.

[DC-Consulting]

Does anyone know the main differences between state regulated carriers and non state regulated carriers such as Golden Rule? I understand the renewal rate increase are different and if you are not state regulated you must have an association (FACT for ex.), but im curious as to whether or not there is something im missing. I get a bit nervous writing Golden Rule and my other carriers that are not state regulated as the renewal rate increases are high. I understand that this means it's easier to switch them and keep my 20% but if someone gets sick and is stuck on the plan I don't want a carrier to be able to kick them off by raising the premiums as high as they want. I more into keeping a client for life and taking an up front pay cut by doing the right thing. Any info on the difference between the two would be greatly appreciated. I cant find anything really.

[dgoldenz]

Originally Posted by ABC

I was offered 27% for a 100 contracts.

I chose 22% for 20.

There are two different type of recruiters right now. I had phone conference with both of them. They will talk your ear off.

They have a program they called United Select Producers Club. You do have to prove how many apps you wrote last year to qualify.

I wrote 0 apps last year and all they wanted in exchange for $250/month in free leads through USPC was 6 written apps in the coming year.