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Old 12-23-2015, 12:10 PM   #1
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Cost/rates of life insurance clusters Cost/rates of life insurance clusters
I'm starting my own Independent Life Insurance Agency and want to know some good aggregator/cluster companies and what do they usually charge when it comes to fees? What's an average price? I understand it depends on my contract how much % commission they get, but want to know what they initially charge? And also how does it work? Do they set up direct appointments? Am I guaranteed to get approved to sell insurance through the companies they work with? Any help will be appreciated thanks!
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Old 12-23-2015, 12:49 PM   #2
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LGilmore on Cost/rates of life insurance clusters
 
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Cost/rates of life insurance clusters Re: Cost/rates of life insurance clusters
Did you license yet?
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Old 12-23-2015, 02:46 PM   #3
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Cost/rates of life insurance clusters Re: Cost/rates of life insurance clusters
Colton, most marketing companies do not charge a fee but make a small override commission on top of your commission. They facilitate your appointments with individual insurance companies. Approvals vary among companies but should not be a problem unless you have outstanding debts to other insurance companies, tax liens or very poor credit. I happen to work for one such life insurance marketing company.
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Old 12-23-2015, 04:51 PM   #4
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Cost/rates of life insurance clusters Re: Cost/rates of life insurance clusters ColtonSturgill is the thread starter for: Cost/rates of life insurance clusters

Originally Posted by BrianLeising View Post
Colton, most marketing companies do not charge a fee but make a small override commission on top of your commission. They facilitate your appointments with individual insurance companies. Approvals vary among companies but should not be a problem unless you have outstanding debts to other insurance companies, tax liens or very poor credit. I happen to work for one such life insurance marketing company.
Brian,
Thank you very much! That's exactly what I was looking for. Couldn't have worded it any better. Much thanks.

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Originally Posted by LGilmore View Post
Did you license yet?
Guru,
Currently in the process!
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Old 12-23-2015, 05:47 PM   #5
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Cost/rates of life insurance clusters Re: Cost/rates of life insurance clusters
You might want to license first and maybe consider working somewhere for a couple years to gain experience...

Believe it or not, this is a pretty hard business to be successful at. There is a 90% failure rate within the first 24 months.
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Old 12-23-2015, 06:54 PM   #6
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Cost/rates of life insurance clusters Re: Cost/rates of life insurance clusters ColtonSturgill is the thread starter for: Cost/rates of life insurance clusters

Originally Posted by LGilmore View Post
You might want to license first and maybe consider working somewhere for a couple years to gain experience...

Believe it or not, this is a pretty hard business to be successful at. There is a 90% failure rate within the first 24 months.
LGiLmore,
Failure doesn't exist to me. If every successful business owner was afraid to fail, we wouldn't be where we are in our time. Failure is always an option for when times get hard and to some, failing and quitting may be easier then pushing through hard times to reach your goal. I'm not, nor will I ever be part of the "90%". I'm someone who will do whatever it possibly takes to own my own business and bust my a## to be successful. Life Insurance is very interesting to me and I WILL be successful. Its never to early to start, but if I wait it can become to late. At age 18 I am going to embark on a journey that MANY deem "impossible". Thanks for the reply, but I'm going to continue to do what I'm pursuing.

Colton
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Old 12-23-2015, 08:21 PM   #7
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Cost/rates of life insurance clusters Re: Cost/rates of life insurance clusters
Originally Posted by ColtonSturgill View Post
LGiLmore,
Failure doesn't exist to me. If every successful business owner was afraid to fail, we wouldn't be where we are in our time. Failure is always an option for when times get hard and to some, failing and quitting may be easier then pushing through hard times to reach your goal. I'm not, nor will I ever be part of the "90%". I'm someone who will do whatever it possibly takes to own my own business and bust my a## to be successful. Life Insurance is very interesting to me and I WILL be successful. Its never to early to start, but if I wait it can become to late. At age 18 I am going to embark on a journey that MANY deem "impossible". Thanks for the reply, but I'm going to continue to do what I'm pursuing.

Colton
That energy is good and at 18, it's good to see someone who is so positive and willing to work and not just just entitled. But there is a "right" way to do this. It's good not to be afraid of failing, but it's foolish to set yourself up for failure. I started my insurance agency at 20 and sold it 5 years later for a lot of money. If you want some advice pm me and I can give you some tips - no that tip isn't to work for me. I am now in telesales and working on a call center.
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Old 12-24-2015, 01:08 AM   #8
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Cost/rates of life insurance clusters Re: Cost/rates of life insurance clusters
Colton, best of luck to you.

Please understand if a desire to work real hard was all you needed, well everybody would be rich in this business.

Merry Christmas Colton and honestly I wish you the best.
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Old 12-24-2015, 07:53 AM   #9
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Cost/rates of life insurance clusters
Originally Posted by ColtonSturgill View Post
LGiLmore, Failure doesn't exist to me. If every successful business owner was afraid to fail, we wouldn't be where we are in our time. Failure is always an option for when times get hard and to some, failing and quitting may be easier then pushing through hard times to reach your goal. I'm not, nor will I ever be part of the "90%". I'm someone who will do whatever it possibly takes to own my own business and bust my a## to be successful. Life Insurance is very interesting to me and I WILL be successful. Its never to early to start, but if I wait it can become to late. At age 18 I am going to embark on a journey that MANY deem "impossible". Thanks for the reply, but I'm going to continue to do what I'm pursuing. Colton
Love the enthusiasm, but knowledge is power! As someone twice your age and successful, there is a lot to learn to be successful and avoid an E&O claim. Look at working for someone like Mutual of Omaha, Pru, or someone like that for about 2-3 year and then go out on your own. You will not regret it.
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Old 12-25-2015, 09:51 AM   #10
Ami
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Ami on Cost/rates of life insurance clusters
 
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Cost/rates of life insurance clusters Re: Cost/rates of life insurance clusters
With over 45 years of success in business, I'd like to note that "what is best for the customer/client is ultimately best for success in business". Of course, you need to manage your time, learn "when to hold them and when to fold them" and remember that there is nothing "free" other than perhaps air (and that's only until the government figures out how to put a meter on it). Also, insurance shoppers who shop online for the "cheapest price" will continue to shop online for a "cheaper" price unless you develop a trusted adviser-client relationship where your client knows and internalizes that you place his/her best interests ahead of all else.

The 90%/10% stats are just that, stats, and include in that 90% all those who don't take their profession seriously, who lack appreciation for the best interest of the client, who look for "cheap" short-cuts, and who don't devote part of their time to continuing professional education.

Merry Christmas, and a happy, healthy, and prosperous new year to all.

Cheers,

Ami
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