I have wrote several health policies and all the clients are young and healthy and so their monthly premiums are mostly less than $100.00 per month. And Im getting as earned and Im receiving commissions of like $20.00 or less. How can someone survive on commissions like that? Im not even paying for my gas by going business to business on those policies. I would have to have 50 policies on the books to even make a $1000.00 a month. What is the average of the policies that you guys are writing?
Depends on the type of marketing you're doing. I'm targeting small business owners who are all between 40 and 60 and most have families - so my premiums are between $3,500 and $5,000 annualized. Rarely do I ever write anyone under the age of 30.
Im doing B to B and getting allot of employees that are signing and not allot of owners. for some reason they are all young and single. I think the oldest person I have wrote is like 29. In fact I just got off the phone and wrote another single 24 year old on a 98.00 per month policy!
That would be a different experience from my B to B marketing. I ask for the owner when I hit businesses and very rarely is the owner under 30. Right now I'm telemarketing small business owners and again, almost all are over 30 and almost all are family deals.
And I'm sorry but it's just killing me; there's no such word as "allot" - it's "a lot."
That would be a different experience from my B to B marketing. I ask for the owner when I hit businesses and very rarely is the owner under 30. Right now I'm telemarketing small business owners and again, almost all are over 30 and almost all are family deals.
And I'm sorry but it's just killing me; there's no such word as "allot" - it's "a lot."
Oh so now you a Agent/English teacher? LOL Thats cool John, thanks for the info!!
Yeah, 20 dollar commissions do suck, but they are usually the easiest people to deal with. They are healthy, do not harrass you with too many questions, and they are more internet savvy, so you can finish the entire deal much quicker. Also, sometimes, carriers run contests and bonuses based on apps, and they count for that, n matter how small they are. Not to mention the fact that they have a lot of long-term potential for you to cross-sell them.
I much prefer clients over 40 who have pre-exisiting conditons. They stay plastered on the books and see the value of health insurance. They also know exactly how it works so they've very savvy and also understand money and finance which makes HSA sales easy.
I too have clients that generate $10 - $20 commissions, but fortunately, not that many. Everything I do is as earned and I prefer it that way.
Average premium is around $400/month at 20-24% means $80 - $100/month for every new case (on average).
It's easy for me to tell you to hang in there, but things will come around. Some days I go through a bunch of kids looking for coverage and I write them up, even if it is $10/month. Figure thats $10 I didn't have when the day began.
Golddoor, why aren't you getting the 12-month advance like John?
Because I mostly write with Unicare and Aetna and I just chose to recieve as earned. And neither of these companies do 12 month. Unicare does 6 month though. I may have to go ahead and do that!
I take the Assurant advance and everything else is as-earned. But I'm lucky that Assurant is competitive in my state and they aren't in many states. I'll always take the Assurant advance since quite frankly it's fun to close a deal and get a nice commission upfront. And if you're selling correctly you don't have hardly any chargebacks.
I think if you have prospect who is under age 40 then you need to sell about 30 - 50 policies a month . I think even 50 policy a month would not be good enough to survive :( .
California kind of expensive state never enough.
By the way, I got tons of traffic from out of state recently... ..
If someone sell Health Net Orange Rx , please email me.
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