Scott certainly knows as do I after meeting with members of the MD DOI for 6 hours that as an agent YOU bear the responsiblity to fully check out any company you choose to affiliate with. They require "due diligence." Contracting to sell a product that you have not seen is unethical if not a blatant DOI violation and at least certainly violates the spirit of the rules.
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I am not a recruiter -- i am now a managing agent -- for now because of the medical situations that have arose -- this would be best for me.
I will be scrubbing applications and calling customers for verification calls -- this is all i will be doing -- besides support for any agents under me..
The above statement further confuses me. You say you are not a "recruiter" yet how does one get agents working under them? For every agent I have ever had working "under me" I first had to recruit them. When I did I received an over ride on the business they sold.
If in fact you are not trying to recruite us then why are you working so hard to get us to sign up, and putting up with all the flack you are getting?
I also find it curious that with it being so easy to sell/give away over the phone that you aren't going to be "giving it" away yourself. I would think it would be a perfect fit for someone who doesn't have the time to prospect and go on appointments. A perfect opportunity for those who want to be "underwear agents."
If you have time to do verification calls, scrub applications and provide support for those agents under you couldn't you make more money selling it? Can't you call your clients no matter where you are? I have called my clients from England, Italy, Jamaica, France, etc.
I'm not well versed on this kind of insurance so I may not be seeing the "big picture". I'm only posing these questions because I feel I need more credible information to make an intelligent decision.
You may very well be right, but don't you agree that there are still a lot of inconsistencies and "secret information" that apparently can't be shared yet?
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Amen to doing your DD. I just called the NC DOI and it seems they have fielded a lot of phone calls, but they have no information either.
Mainly, because they don't know who is underwriting these policies. They are curious as to who that will be also. (only the SHADOW knows)
If I may , here are a couple points I would like to share. Where this is going I don't know yet.
First, I found out Global Mktg (an FMO) is involved with this. They mkt MA's (like Arkadian, Secure Horizons). Somehow, they are related to my FMO with Universal Health (Medicare Advantage, in Florida.
2)OK, the owner of Universal Health, Dr. Desai, a prominent Republican fundraiser in Fl, is a doctor and a Hindu?
The owner of Miracle, in NC., is also a doctor and a Hindu.? Don't know anything about him yet. (the SHADOW knows)
I really don't have a problem with Mary wanting to recruit. I know Mary and she's fantastic. What I don't like is agents are expected to get contracted before we see the details. Eventually we will have those details and post them here. Then anyone who wants to hook up, more power to ya.
Here are more tidbits. This is being set-up as a Master Plan of insurance so the insured receives a Certificate of Insurance, as opposed to a policy.
That would explain the speed with which the agent will get licensed, and the various state approvals coming in.
Application is a one-page, which you can fill out over the phone, and will be double verified before processed. Some bad health conditions will be rated up rather than declined, but because of the additional cost the agents commission will be reduced by 10-20%.
Product launch date is May 1.....policy issued in 10 days from app date.
Supplies?? Probably download your own 1 page app until they can take e-app.
The above statement further confuses me. You say you are not a "recruiter" yet how does one get agents working under them? For every agent I have ever had working "under me" I first had to recruit them. When I did I received an over ride on the business they sold.
Frank -- just as I told a couple of people that called me this morning -- if I hadn't of posted this -- someone else would of -- so as being a manager -- that is my choice in what I want to do -
If in fact you are not trying to recruite us then why are you working so hard to get us to sign up, and putting up with all the flack you are getting?
I am used to getting flack on this board -- so whatever I'm not trying hard to get you to sign up -- I am sharing info with what I have -- like I have said before -- right now I am licensed in Wy and Oh -- waiting on my license in NC -- I was thinking about getting my license in Wisconsin -- depending on how much medsups cost to the clients.. it would be a great bonus to add on the zero premium..
I also find it curious that with it being so easy to sell/give away over the phone that you aren't going to be "giving it" away yourself. I would think it would be a perfect fit for someone who doesn't have the time to prospect and go on appointments. A perfect opportunity for those who want to be "underwear agents."
I will be doing this on my own -- with my own clients -- right today I have 1200 people to sign up here in Cheyenne --- between the family issues that go on in my life -- thats enough for me... one of the reasons i was posting on here was to get ideas on how to approach people on the phone in other states... -- but so far no one has posted any ideas... was looking for some advice..
If you have time to do verification calls, scrub applications and provide support for those agents under you couldn't you make more money selling it? Can't you call your clients no matter where you are? I have called my clients from England, Italy, Jamaica, France, etc.
In Wyoming i have 15 agents that I will be managing -- I will be working with them on the verification calls etc etc..
I'm not well versed on this kind of insurance so I may not be seeing the "big picture". I'm only posing these questions because I feel I need more credible information to make an intelligent decision.
Well I certainly agree -- but I do not have any more info as of yet
You may very well be right, but don't you agree that there are still a lot of inconsistencies and "secret information" that apparently can't be shared yet?
again.. its because of insider trading..
Last edited by maryjd123 : 04-24-2007 at 05:20 PM.
Reason: its all in quotes.
Here is what I have learned about Miracle Insurance
All roads lead to their site. I have talked to several FMO's and they all use Miracle Insurance for this program.
Their Address reverse look-up goes to:
Behrend, Gary D DDS PA
5710 Six Forks Rd
Raleigh, NC 27609
(919) 866-1989
Phone for Miracle insurance is 919-844-7200 – Unlisted
Ali Shahrak – CEO
According to the NC DOI Web site – he is under investigation
What I am taking from all of this:
1. According to their site they look legit.
2. If it was a scam, why would so many other FMO’s be working with them? If we raised all these questions, wouldn't they do the same?
3. Maybe the dentist owns the building and they lease some space.
4. Why is no one mentioning the carrier?
5. $10 to sign up – maybe they are making all their money there (5,000 agents sign up, that is $50,000)
I know that I am not going to rule out the product until I see it, then I will look at contracting. According to most, it rolls out May 1st, and in no states that I am in. So let the games begin then!
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"Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." Ronald Reagan
Here is what I have learned about Miracle Insurance
........
1. According to their site they look legit.
...........
I'm honest, trust me! Of course you can trust me, it says so on my website
Actually, my single issue is that there simply isn't an insurable interest for someone else to pay the premium in these types of policies. Buying an insurance policy to collect a portion of the death benefit later, by itself, isn't an insurable interest. This means it's probably a 'loan' of the premium for the policy, which establishes a legitimate insurable interest, but doesn't make it true 0 premium, just nothing out of pocket. The loan, at some 'modest' interest, will be paid off out of the death benefit.
Miracle isn't registered in California, so I doubt it's rolling out on May 1 here. We'll see. I'm interested in seeing how the insurable interest problem is overcome, and what the details are.
You know, Dan, you raise a valid point. In fact, several other members have all raised some valid points. Now as a member of this forum, where we come to 'share' and hopefully help others 'grow' I have an issue here.
Dan's post raises a critical component with insurability. Thank you Dan.
Now, onto something else that's been lurking within me to say.... after scavaging through some empty meaningless pages on this thread.
And no, I'm not trying to flame or bait but you know who you are so -
To those whom post to attack for a lack of a better word, why don't some of you do some research on your own. Now, just because we cannot glean all of the information at hand, immediately, and I know some of you have tried, or claim to have,... okay, well, guess what. That does not conclude this concept and product to be a negative. Okay.
We cannot gather the pieces of this puzzle, momentarily. So what. Okay, we have a waiting game to play, not like that should be a foreign concept to any of us, especially in this business, right?
Now just like all of you (and I should hope) ascertain and present the 'solutions' to your clients problems and or needs with various 'approved' products, I am hoping you have done so after fully ascertaining those problems and shopped product. You know, ,,, I am speaking to you, to those, whom are INDEPENDENT AGENTS whom have really shopped around for that best final, Med. Sup, Annuity, whatever... policy because we as indys have that capacity to do so, right? And with that comes some learning, right? After all, that is what makes us unique. And that is why many do business with us, wouldn't you agree? - At least, one of the reasons why some do business with us.
So I pose this question to those whom have 'attacked' or disqualified this zero premium gig: how can you possibly make a well informed decision how legit or non legit this really is without having had ascertained all of the information? Again, just because we do not have all of the data presently, does not mean it's a negative. Isn't this what you do with your own customers and clients or no?
And yes, anytime something is new, and this can be applied to any entity, we need to be cautious and proceed accordingly. Presently, we cannnot nor should not proceed because everything is not disclosed. Okay fine. But again, this is where time comes in and we must play the waiting game. And with time, other variables will surface. That is a fact. And those facts will tell greatly how legit or non legit this will be.
I am extremely disappinted and disgruntled by some of the members' behavior whom are quick to give their opinion (and that is it.. an opinion) without having had gleaned all of the necessitated data, which I do realize is not in full disclosure, yet. Be patient.
You want to sit back and not ride within the rodeo. Fine. Don't. You want to ride, cool. But PLEASE STOP with antagonizing certain members whom have taken much time, and yes it does take time, which takes time away from other things you know.. service work, prospecting, 'selling' etc. etc. because these folks come on to share their findings. If you cannot do the same, then don't give your unwarranted opinion. Or if you do so, do it with class and with no opinion of: "it's not legit, it's a scam' etc etc. and proceed to flame the poster. Not cool. What are we in middle school?!? Further, if you're so quick to judge, then stop reading and go sell what you know! Good. Leave this to others!
I appreciate certain members whom have done some leg work and come on here to share and I appreciate their findings. And I hope some of you can take a lesson from them. Calling out names I do not feel is necessary with respect to whom has done and not done some homework.
All I'm saying is let's try to be a bit more professional, do our due dilligence, work on our patience, and act accordingly.
Happy Selling!
Last edited by honestagent : 04-25-2007 at 05:17 AM.
A Few Questions...because this makes no senseGo to Top
1. Who is the carrier and why is it a seceret?
2. This can be done with any size policy and is not new
3. why would you only make $250 when you could make a normal life insurance commission?
(the premium is probably about $1200-$1500 yearly. that is a 20% contract with no renewals...lame)
Here is what I mean...
Any agent can get a senior a life policy of $100,000 (maybe more), keep the whole commission, and have them retain their interest 15% or $15000 as a death benefit. I dont understand why it has to be $30k and only $250??????
1. Who is the carrier and why is it a seceret?
2. This can be done with any size policy and is not new
3. why would you only make $250 when you could make a normal life insurance commission?
(the premium is probably about $1200-$1500 yearly. that is a 20% contract with no renewals...lame)
Here is what I mean...
Any agent can get a senior a life policy of $100,000 (maybe more), keep the whole commission, and have them retain their interest 15% or $15000 as a death benefit. I dont understand why it has to be $30k and only $250??????
Honestagent-good post and you made some nice points. Personally, I was not offended by any of the comments in the entire thread. I still think this product will end up being a "dog with fleas." It has "bogus" written all over it. I wonder if E&O would cover it as an insurance product.
However...if it turns out to be legitimate, perhaps we'll all reap the benefits and everyone will be happy.
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