Insurance Agent Forum

[myinsurebiz]

" I'm certainly not going to lose money to assist others into starting their own business or creating an additional stream of income.

We are leaning towards $99 or $199. With licensing expenses - the initial outlay will be under $500 - which is a standard amount paid to join a MLM.

For someone to be able to jump start a business for less than $500 upfront and less than $99 a month (includes E&O) is within my mind a good deal. "

Been awhile - but this exact same thing can happen - and with Final Expense as the draw.

Awesome company has emerged - will know more next week.

Tom

[The Rabbi]

Any clear thinking person can read an SOB. I walked after an hour long meeting at an agency to listen to the manager read the SOB. The agents asked the most stupid questions. They couldn't have been listening. I can read a brochure and know about the company and plan. I have been a salesman for 40 years. Only the product has changed. Product knowledge is easy. Understanding people is the hard part since most of us aren't very familiar with ourselves, our own weaknesses.

[Mr. Bill]

Originally Posted by myinsurebiz

MWB said - " Personally, I think you are going to entertain some agents until they realize that there are other FMO's out there that will work with them for no monthly fees or up front costs. "

We are not targeting existing agents. We will be recruiting go-getters into the industry and into our program. If they choose to leave - and they don't have a debit balance - they are free to haul ass - no hard feelings and we'll wish them much success.

Our pay plans are strong. A producing agent will be able to enjoy a comp plan that is tailored for those that want to be aggressive and do a ton of personal sales. A part-timer will be able to enjoy a comp plan that is tailored for those that want to make additional income AND show others how to do it too, which would create bonus over-rides for the referring agent. Also - a producer can enjoy their comp plan and recruit others to join the company in either capacity AND earn over-rides regardless.

" Your best best is to specialize in your market then grow from there. Trying to tackle multiple states and lines is a mistake unless you are a veteran in those areas. "

So true. We are going to focus on GA, FL, SC, NC and MI in the beginning.

" However, if you are doing business properly in the best interests of the client, I wish you success. "

That will be job 1 . . .

Bill said,

" My position is still that 2 products do not fit all clients. "

We will specialize in the top 2 or 3 plans in a given area in a given category. Really no different than a captive agent, except a few additional choices. If we don't have what a client needs or wants - it will be passed upline and they will find it for the client.

" The difficulty with new agents is always that they simply don't know what they don't know. Only experience and broad knowledge can provide that. "

Training can be an equivalent to experience. In addition - our agents can go out in 2 man teams early in their careers - 2 heads are better than one. In addition - with today's technology - their upline or team support is only a cell phone call away OR even better if high speed wireless is available - an instant live online webinar.

No offense Bill - but, you seem to think that just because someone is new that they don't have the ability to think or ask for help. I would imagine that our lines of communication between our field team, their support team and the client will be far superior to that of the average insurance agent in the field and with time, equal to that of the veteran agent.

" Therefore, fitting round pegs into square holes is screwing the client. "

The client is job 1.

Our target market are those who have no coverage. Should we run into someone unhappy or that has been "screwed" - then we will see if we can help. But - in the beginning we will be focusing on MA markets and uninsured / under insured in other markets.

It's not like we intend to be the vikings of the insurance industry raiding and pilliging neighborhoods - good grief . . .

Tom

Honestly, you sound like a great candidate for World Financial Group. Your process seems quite similar.

[TheAscent]

Originally Posted by k1s1h1

has anyone used them. They are appointment setters. Does anyone now of a good appointment setter for MA or are they all just crap

Our affiliate, First Descent Marketing has provided appointment setting services to license only annuity agents for about 10 years. Roughly 2 years ago they opened the doors to non-contracted agents and have found success. FULL DISCLOSURE: Yes, we are an affiliate, Yes, we benefit from the sale of preset appts, Yes, we are profitable...but, this system works and I have used it myself-it is tried, tested, and proven.

PRESETAPPTS.com is not for everyone and not everyone will see the typical 5-600% ROI. This is due to the lack of training, lack of commitment, low close ratio, and low commission products. Purchasing an appt should be utilized only by those agents willing to undergo some training/commit to a monthly marketing budget of $3,500-$6,500/have a close ratio of at least 20%/and see average commissions PER SALE of $4,000-5,000. Secondly, if you are asked to choose your zip codes-hang up the phone-an experienced staff WILL TELL YOU where would be best for you run your appointments.