Originally Posted by Corporate Death
Flirting with Design Benefits Plans and their CA Mortgage Protection plan that uses the "American Mortgage Protectors" mailers (Just like NAA). My license exam is on the 29th.
I keep hearing every week how much money this business will make agents. I see some production in their weekly newsletters and so on, but I'm wondering, (since I havent sold Insurance for about 16 years) since I'm a newbie for all intent and purposes, what is a realistic first year income with this?
No guarantees, I understand that.
For the year of 2005, I was a "mortgage protection specialist" with NAA. 2005 was my first full year with them. I took 10 leads per week at about $25/lead. I wrote more than 300 apps for $250,000+ AP. I was on an 75% contract for half the year and 80% for half.
I was the number one producer for my
GA's group and in the top 15 producers for NAA as a whole.
After chargebacks, declined, NTO's, etc., I made $65,000. Of that, I had to pay $10,000 in lead costs. For a net of $55,000. Then I had all my expenses to pay from that.
I didn't build a team and had no interest in doing such. All my income was from my own pen. They have the income ring for people than make $100,000+. You do not see any individual producers get that ring.
Because I wasn't interested in building a team and drinking the kool-aid, they started cutting my leads. I did $200,000 AP in 2006. Having learned a thing or two about placements, I made almost the same income as '05.
I got into the senior market for '07 and almost doubled my income while paying less for leads. That trend continues for '08.
I just had a company send me 10 free mortgage leads as an enticement to buy more from them. They normally seel for $25/each and they are your leads, unlike the recycled NAA leads. I agreed to work them and they are worth exactly what I paid for them. I am doing a med sup on one of them tomorrow and that will be the only sale I will get from them.
The mortgage protection is a great training for you. Don't be captive with someone so that you can't branch out once you learn the ropes.
Re: Mortgage Protection First Year Income Avg?
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