Originally Posted by DavidD1
Need your advice... A company in the insurance field is expanding further into the medicare business and is providing contracts for agents and managers that seem to be very good. Thus far there have been no complaints with any of their agents or managers I have spoken with.
They have sent me 3 emails and we have spoken on the phone and it all seems good. Someone has always returned my call or email immediately.
Assume the company and product are good for the client and agents......
Is there any other senior product company out there you know of that provides the same?
THE EMAIL READ:
For those interested managers, our agency has just secured 2 additional bonuses for writing senior products with a secure provider:
1) Managers will receive a $1,000 recruiting bonus, for each recruit, upon their first appoved policy.
2) Managers will receive a $1,000 training bonus, for each recruit, upon their first approved policy.
* NO LIMIT TO RECRUITING AND TRAINING BONUSES!!!!!!!!!!!!!!
Let me sum it up.....
A. $265 per Senior app
B. 10 apps per month = $2,000 bonus not subject to CMS delays or chargebacks
C. That's $465 per app
D. $1,000 Mgr new agent training bonus
E. $1,000 Mgr new agent recruiting bonus
F. Leads provided at NO COST
G. No limits to training & recruiting bonuses
Appreciate your advice....
In general, if it sounds too good to be true...
They have a good marketing piece. Notice they are advertising for "managers" not agents. Their theory is that being a "manager" is much more desirable to most people than "just being an agent". What they really want are agents who they are going to pay a whole lot less to than they are getting from the insurance company.
I don't know of anywhere an agency can go to "secure additional bonuses". Not from any company that I am aware of. I think they are trying to make it sound more legit.
They are talking about "manager" bonuses but that is only a one time thing. They are not trying to recruit "managers", I believe they are after agents who they are only going to pay $265 to when they write an app. If so, they are keeping a huge chunk for themselves.
Recruiting and properly training is hugely time consuming. If they are only paying $265 per app, probably dramatically less than that after the first year if they are paying any renewals at all, an agent is going to have to be prospecting and selling all the time. There will be very little time to both recruit and train.
"Leads at no cost". That's what they told me when I first started selling insurance and my "leads" turned out to be a voter registration list. What kind of "leads" can they be giving agents for
MA plans? I doubt seriously they want the agents to sell Med Supps.
This whole thing sounds like a promotion designed to attract agents who are new to insurance, not agents who have been around the block several times. I have seen all kinds of things like this in the past and none of them were ever in the agent's best interest. Although, it never hurts to ask some questions.
There is only one way I have found to make money in this business as an independent agent. Work on straight commission and get the best contract available. Oh, and I always make sure I am the Agent of Record. I would never sell a policy if I wasn't.
There is no easy or magic way of making money in this business, it doesn't exist. Just seeing the word "agency" throws up huge red flags for me. I would never go to work for an agency.
Medicare Bonus Plan
Linear Mode
