Are You Selling at 0% Commission?

[YouGotMyMoney]

I understand that, we each have our limits. If someone takes the time to drive to my agency (we are not visible from the road), I am going to help them. Just for the sake of reputation and future business. These people can be cross sold later or that same day.

I just enrolled a family of three this morning who was referred by someone I helped that ended up going on the state insurance due to pregnancy. Had I refused to help the pregnant lady for the 15 minutes that it took me to enroll her (because that doesn't pay commission), it is unlikely that she would have referred me to anyone. The family this morning bought a product that still pays a decent commission.

I am not seeking out U65 business at all anymore though. No ads or flyers, no marketing, no seeking out or buying leads. We are done with that. We will help walk-ins, existing agency clients and their referrals, that is how we are playing it it as an agency.

Help People? 100%! But don't attach your NPN and take on liability without compensation. Free Advice sure...

 

[AgentStone]

Were they referred?
Am I in a good mood?
Do I like the person?

Thanks (everyone) for your suggestions.

Not sure how I can go cold turkey on this one….

For years, I have received a majority of individual health referrals from several P&C, finance and med sup agents. Great set up (for me) as they weren't interested in the business. I will continue to get SEP referrals in 2016.

My dilemma – I still want the referrals and can always use a few extra bucks on warm referrals while I continue to build another line of income. Should I be up front with them and say "I will still take all referrals, selling ABC but not XYZ because I don't get paid?” (I am sure they wouldn’t work for FREE and take on the liability either). I will at least help the ones I don’t sell by finding the right company for them to go to.

…This may be a moot point, as almost every day I am getting a 0% commish email from a carrier!

My head is spinning here

Right on....
Am I in a good mood?
Do I like the person?

 

[Yagents]

I'm in the same boat agent stone. 10 yrs of referral sources can't just be turned off. S.e.p should be slow enough to just point client in right direction, or write it if commission available, and put in 17' o.e.p folder in case we get hired again......on a temp basis I'm sure

 

[GreenSky]

It may be 0% commission on a few policies but you'll make up in volume.

Rick

 

[DS4]

I might be selling at 0% but hopefully my GA for FMO will still get their over ride.

 

[FLM2]

I'm in the same boat agent stone. 10 yrs of referral sources can't just be turned off. S.e.p should be slow enough to just point client in right direction, or write it if commission available, and put in 17' o.e.p folder in case we get hired again......on a temp basis I'm sure

I have also worked solely on referrals for the past 3 years but it's always been clients referring them to me, not other professionals.

I am not going to write business and take on potential liability for 0%, I started turning people down a week ago and will not look back. I have no interest in this business next year (I will not turn down renewal commissions for those already on a plan where the prior commission stream continues) unless there is enough compensation available to make it worth my time and aggravation.

If this business was easy after enrollment I would probably feel differently, it's the post-enrollment garbage that pushed me away, not the enrollment side, I refuse to actively participate in a system as poorly run as this, one that has gotten progressively worse rather than better after the 1st year.

 

[bill3173]

Assisting people to get on a State Plan or Medicaid is one thing, but to write private insurance at 0% is dumb. As many calls as you get from health clients after the sale, you'll end up ticking them off sooner or later, because you'll stop taking their calls or not returning them, if you're actually trying to make some $$.

I have no problem turning down referrals and sending them to the exchange, if they want a 0 commission plan. I had one that called me 15 times to discuss his health insurance from November through end of December, and then finally on January 2nd made up his mind that he wanted a UHC plan..I told him that we're about to be disconnected, it wasn't his phone, that was me hanging up.

 

[AgentStone]

S.e.p should be slow enough to just point client in right direction...

Good point. SEP referrals are nothing like OE... things are slow. In less that a few mins I can determine if I can help (make $) or not. I will keep the contact for cross selling and T65.

I will not sell at -0-

----------

I might be selling at 0% but hopefully my GA for FMO will still get their over ride.

Not sure as I am direct with all companies, but I think 0% is 0% for all. Even if the GA were to get an override, wouldn't you be assuming the liability as the agent?

 

[DS4]

wouldn't you be assuming the liability as the agent?

What liability? Just like Medicare Part D, I assist with the enrollment. Even with companies I'm not an agent with.
With ACA business, I would not affix my agent number. I tell the insured "I'm not their agent", "any problems, they will need to call the carrier directly".

 

[houcoogster]

I'm going to create a GoFundMe page. I work for donations now