Commission?!?

[MikeyInsurance]

Hey folks! I'm a newly licensed agent. I'm currently working for American Income Life.. Ever heard of it? I was pretty much sold this job so I've been a bit skeptical considering I don't know much about the life insurance industry. One thing is for certain, agents in their first 3 months receive 40% commission.. 30% advanced the next week and you see the other 10% sometime in the future along with the lifetime residuals?! Agents after 3 months then receive 50%. 40% advanced and the other 10 down the road. After reading some of the commissions agents are making in this forum I was almost sick to my stomach. Just looking for a little advise from some seasoned vets. Should I be looking to take my business elsewhere?!

 

[DHK]

Lots of threads here about AIL.

Here's the thing: they give you "leads" - to travel to at your expense for the chance to upgrade their "free accident insurance" to something else.

To get the higher contract levels... you need to prospect for your own leads... or buy them.

If you are unable or unwilling to prospect to find your ideal client profile, stay where you are.

 

[MikeyInsurance]

Lots of threads here about AIL. Here's the thing: they give you "leads" - to travel to at your expense for the chance to upgrade their "free accident insurance" to something else. To get the higher contract levels... you need to prospect for your own leads... or buy them. If you are unable or unwilling to prospect to find your ideal client profile, stay where you are.

so your saying I can get higher contract levels from AIL for generating and selling my own leads even though it's their product that I am advertising?

 

[AlTheGud1sRtakn]

There are plenty of contracts out there with better or worse splits, you need to look at the support you're getting / need (especially if you're new to the industry).

I don't know anything about that specific company but DHK somehow knows more than a single person ought to about most things in this industry so I'd take his advice.

 

[DHK]

Thank you for the kind words.

I'm just a sponge. I absorb most of what I read about. I read a lot of books from the industry greats... and I listen to a lot of MDRT recordings.

And some of the threads and discussions on here have been very helpful to me too.

I've been involved in this industry for a long time, so I've accumulated a lot of knowledge... and forums like these help me to recall what I've learned to pass it on.

 

[1963]

To DHK: You are very good; I've been associated with this industry for 17 years, and your observations are always in line with every successful advisor I have known. You have plenty to offer any agent that will heed what you advise!
To Mikey: A key point DHK made needs reinforcing over and over. Regardless of the carrier, prospecting is a must! The vast majority of agent failures are directly or indirectly related to lack of prospecting. A sale today is great, but prospects for tomorrow hold much more future value. Get referrals constantly; keep the pipeline full!
Yes, there are companies with much better commission structures; AIL seems to take the cost of leads from agent commissions. Depending on the company, new agents are usually given a book of business to work from day one, giving the agent established clients. In this case, what better prospect than one who is already in the fold needing a review? Leads? Mama, Daddy, Sis, Bro, Unk, Auntie, Cuz, Nephew, Niece, All Spouses, Children, Grands, Friends,.......so many of 'em, I almost forgot; Friend's Children...... And if each one gives you two to three referrals......
Luck to you!!!

 

[pfg1]

Agree with above. Keep in mind, we all pay some sort of "price" to learn this business. I'm sure it can be looked at all sorts of ways.

One would be "less commission" for a while, while getting good support and training - and in your case leads too.

Another would be "more commission" and little or no training, and not learning or making any $.


I can't speak to the company you are with at all, but those two will probably apply to any company really. If you are happy, learning, and have good support.... it might be a good idea to stick it out a while and make some $ while you learn the business.

 

[trevleffingwell]

if you're going to build your business living off of leads, you won't be around long.

 

[DHK]

so your saying I can get higher contract levels from AIL for generating and selling my own leads even though it's their product that I am advertising?

I missed this question. Sorry.

No, I'm not saying that you can get higher contract levels with AIL... unless they have told you that you could.

I'm saying that you need to have the skill of prospecting to survive and thrive as an independent agent with higher contract levels with other companies.

 

[Agentguy5]

if you're going to build your business living off of leads, you won't be around long.

That's not true. It's all about work ethic! My wife and I wrote over $500,000 in AP off of DM and TM leads last year. It's definitely doable!

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Hey folks! I'm a newly licensed agent. I'm currently working for American Income Life.. Ever heard of it? I was pretty much sold this job so I've been a bit skeptical considering I don't know much about the life insurance industry. One thing is for certain, agents in their first 3 months receive 40% commission.. 30% advanced the next week and you see the other 10% sometime in the future along with the lifetime residuals?! Agents after 3 months then receive 50%. 40% advanced and the other 10 down the road. After reading some of the commissions agents are making in this forum I was almost sick to my stomach. Just looking for a little advise from some seasoned vets. Should I be looking to take my business elsewhere?!

Learn as much as possible and then when you're ready for a raise, they will either give it to you or you can move on!