Fair Pay for Commissioned Telemarketer?

[mikem2015]

I have a question if you had good health care leads and you where running a agency how much would you normally split between the life insurance agent and the company take? I got a offer to work at a life insurance agency they have quality leads but it's 1099 and I would get 40% of the life insurance policy then renewals after 1 year. Is that normal or do they normally pay per hour?

 

[Heather]

I always pay $50 for a life policy - if the premium is over $800 a year I pay $100.

 

[mikem2015]

around how many new clients is she able to get you per week with cold calling and paying her $50 per app over $800. Is your telemarketer able to make a living off it like is she able to get you say 10 new customers per week?

 

[Heather]

She does not cold call anyone and the bread and butter here is Medicare and personal auto/home so FE or any life is just extra but she does work straight commission unless she is doing service or administrative work then I pay her by the hour.

 

[mikem2015]

Around how much do you make on medical insurance I know with auto you get 15% so assuming let's just say u make $150 dollars profit on 1k a year policy paying her 50 bucks is not bad deal. What does medicare payout?

 

[Heather]

200 on the advantage plans - remember you can't cold call on advantage plans unless the person is already a customer of yours, medicare supps 180 and you can cold call these but we seldom do. Again I pay $50 for these

The medicare/auto/home/commercial I always pay the renewals. Some policies are so small or paid as earned so we don't even make $25 per a 6 month policy but I always pay at least $25 because some policies are paid upfront and we can make up for it on those. Keep in mind non-standard auto is paying 10-12% as earned.

 

[mikem2015]

10 to 12% on auto is not bad for the renewals but you would have to have hundreds on clients to make decent money in it. I know autos state by state for example auto for my is,around 195 a month because of a small fender bender bUT I was paying 158 normally . My friend pays 85 dollars a month in arizona.what state are you in? I think I California the average is around 100 a month min depending on the car. I think u would kill it in life insurance since you have someone cold calling.
Have you heard of insuranceleads.Com?

 

[Heather]

Never heard of insuranceleads.com I have never paid for leads and the lady working for me is not strong enough on the phone to cold call also I do not have any carriers in NY that allow us to do strictly phone sales for life so that is also why I do not buy leads. I sell for instance Mr Smith a medicare plan and make 200 my assistant calls him about auto and home, we hope to save him money and get another product sold to him and another day she will call him about life - already have a basic quote ready. In between this she still has customer service work. Its easy to sell additional lines to your existing book than cold calling strangers.


Bought some life leads about 8 years ago and they were trash, lead was sold to like a dozen other agents who were all working the leads, or they had no bank account, never requested a quote, bad phone numbers, I made my money back but it was a waste.

 

[mikem2015]

It seems like you have to create you own way to get your own leads. The online leafs are not bad just sold too many times you would have to create your own opt in lead page and gather all the info your self.

 

[Heather]

once in a while I do get a quote request off of my website but if they are googling for insurance then they usually fill out quote requests from multiple websites I have found. I know there is money I am leaving on the table as far as life insurance goes but I just don't know how to find the people/leads/ that is part of the reason I was considering hiring an actual telemarketer to call T-65 leads for medicare so I could then get the life ins. I have an experienced telemarketer who really wants to work from home calling T-65 for me but we have not come to a conclusion on her pay, I have no script to give her either.