Looking for Top Commisions for Medicare Supplement

Jim · 01-07-2009, 04:54 PM

I am looking into offering my agents an option for the larger commissions on supplements without advances. I have some in the 20-23 area with advances but want to have a carrier for people that do not need advances and will get larger commissions. Any ideas? Most business is in the wv,va,oh,nc area.

insuranceexec · 01-07-2009, 06:02 PM

Just a couple of quesions:

How many agents do you have?

Hoe much premium did you push through last year?

I am assuming that the level you quoted you are referring to Mutual of Omaha; any other competitive product in your area?

Jim · 01-07-2009, 06:28 PM

I have several agents and do a decent amount of business but fact is their will not be to much wrote this way as most need or want advances. Carriers should not care as much either as they will have little or no risk not advancing and should offer higher commissions.

Newby · 01-07-2009, 07:18 PM

It's a complete mystery to me why there aren't any insurance companies that would pay higher levels of commission if they don't have advances.

It seems like it would be a no brainer. But I've never found one.

insuranceexec · 01-07-2009, 08:10 PM

It does matter how much premium you put through. Sorry for offending just trying to help.

Jim · 01-08-2009, 02:48 PM

Not offended at all just no way to put out huge numbers with no advancing. (at least for me) thought there would be company interested though because of the small risk.

Originally Posted by insuranceexec

it does matter how much premium you put through. Sorry for offending just trying to help.

insuranceexec · 01-08-2009, 04:30 PM

I would first find the other products that are competitive in your area. Then I would call the companies direct and see what they can do. You are right the companies should pay out more if you do not take advances, and in many cases they will.

I remember a thread a couple of months back where I was trying to make this exact point and I got hammered by everybody.........LOL. I guess maybe I gave my opinion at the wrong time of the year. I hope this helps.

G.Gordon · 01-09-2009, 02:33 PM

I hate advances. Got off em asap. My top company doesn't even offer it. I wrote $234k for them in 2007.

jacobtn · 03-12-2009, 07:14 PM

Originally Posted by G.Gordon

I hate advances. Got off em asap. My top company doesn't even offer it. I wrote $234k for them in 2007.

sorry to dig up this old thread, I just can't understand this kind of thinking. many companies will advance up to 12 months, with NO interest on the advance. you can bank this money, draw interest on it and take out one twelfth of month and KEEP the interest if you would rather get paid monthly.

Have a problem with that scenario? I don't, and neither would most agents with a calculator (and a brain)

insuranceexec · 03-13-2009, 10:42 AM

Originally Posted by jacobtn

sorry to dig up this old thread, I just can't understand this kind of thinking. many companies will advance up to 12 months, with NO interest on the advance. you can bank this money, draw interest on it and take out one twelfth of month and KEEP the interest if you would rather get paid monthly.

Have a problem with that scenario? I don't, and neither would most agents with a calculator (and a brain)

Very nice rebuttal........

Russ · 03-13-2009, 10:51 AM

I'll take the advance any day. I don't write that much shaky business and I'm not saying or thinking anyone else on here does. If I did I might feel different about getting advanced an annual or 9 or 6 month commission and having them drop the policy after 3 months. Now watch someone cancel on me that was a sure-fire keeper!