Insurance Agent Forum

[padthaiforlunch]

For Part D through K (or whatever you sell the most).

Also, carrier and FMO, please.

[bourbonlegend]

United of Omaha = 19% yrs 1-6
American continental/loyal american = 22% yrs 1-6 / 24% yrs 1-6 for J (best commission yrs 7+)
Family Life = 23% yrs 1-6

[kwimberl]

Actually the commissions posted above are a little above street. However, seeing whereas you are in LA, these are the relevant companies:

United of Omaha
Loyal American
National States
Sierra

There are several people here that can help you get contracted with these companies. Some of them will also take you direct if you so desire.

[bourbonlegend]

If you're an independent agent part of your job is contract negotiations. An FMOs job is to recruit agents. They may promise you leads, e-books, phone calls, field support, etc..., but at the end of the day all you have is yourself. If you get offered contract levels below the ones I posted just tell them "no thanks" and move on to the next guy. Tell the next guy, "some douche just offered me 20% and an e-book about selling insurance, what was that all about?". You'll get the contract you want from somebody.

[Frank Stastny]

Originally Posted by padthaiforlunch

For Part D through K (or whatever you sell the most).

Also, carrier and FMO, please.

I know what Part D of Medicare is but what is Part K of Medicare? I have never heard that Medicare had a Part K.

You will find that "street" level may differ from state to state. Call the company and ask them. They will offer you "street".

Be careful of an agency that is offering you substantially above "street" level commissions. Read the fine print carefully. They may offer you two to five points above "street" and you don't find out until after you sign that the following years commission is five to eight or ten points below "street" level commissions.

American Continental's commissions, depending on the state, can differ dramatically depending on the plan you write.

I always encourage agents to do their own research. This is a great place to get general information but if is a question that involves money or compliance with DOI regulations the agent is best served by doing their own research.

[padthaiforlunch]

Thanks Frank. It was a typo

American Con will let me write direct.

Yr 1-6: 21% A-J

Yr 7+: 5%

Is this kind of thing normal?:

Commissions are paid on the premium less the Medicare Part B deductible amount and the policy fee, where applicable.

[bourbonlegend]

That's what the home office offered you?

Don't sign that contract. FMO will give you 21% yrs 1-6 on all plans cept J which pays 24% yrs 1-6. Yrs 7+ are 7% for all plans.

[kwimberl]

Originally Posted by padthaiforlunch

Thanks Frank. It was a typo

American Con will let me write direct.

Yr 1-6: 21% A-J

Yr 7+: 5%

Is this kind of thing normal?:

Commissions are paid on the premium less the Medicare Part B deductible amount and the policy fee, where applicable.

Yes, that is normal. Different states pay differently with them. That is street for LA. If you are willing to guarantee $50K per year, they will up it to 22%.

[Frank Stastny]

Originally Posted by padthaiforlunch

Thanks Frank. It was a typo

American Con will let me write direct.

Yr 1-6: 21% A-J

Yr 7+: 5%

Is this kind of thing normal?:

Commissions are paid on the premium less the Medicare Part B deductible amount and the policy fee, where applicable.

That sounds fairly typical. Remember though, it can vary from state to state. In Missouri for example the percent of commission I earn depends on the policy I sell. If I sell a Plan D or G my commission is 21%. If I sell a Plan F the commission is 25%.

[padthaiforlunch]

I'm in Colorado.

So who to use besides Ritter?

I like the website, but they never seem to be there when I call. Could be the time-zones, and the fact they only work 1/2 day on Friday.

[Frank Stastny]

Originally Posted by padthaiforlunch

I'm in Colorado.

So who to use besides Ritter?

I like the website, but they never seem to be there when I call. Could be the time-zones, and the fact they only work 1/2 day on Friday.

I would contact Todd King. He is on the board as, I believe, TRK3031962. His toll-free number is 800.590.7270.

Tell him Frank said to call. I don't think he will hang up on you.