I have been in insurance for only 6 months now and I only sell P&C.

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PostPosted: Mon Oct 20, 2008 12:25 am   Post subject:   

lisa - need to know more about your situation. Did you start out with zero policies on your books or did you buy a book a business? What is your commission schedule? Since you are new, did they give you a bump on your commission for the first year?



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PostPosted: Mon Oct 20, 2008 6:01 am   Post subject:   

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It is not clear to me what InsInvestigator actually does?




Insurance investigators butt-in during a claim process when the insurance company suspects fraud. The insurance investigators are neither agents nor lawyers and as the name suggests they prove into the claim to dig out the truths about it.



The profile of the insurance investigators has gained prominence with the increase in the number of fraudulent claims that the insurance companies are receiving everyday. The insurance investigators stop the dishonest claimants to cheat the insurance company.



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PostPosted: Mon Oct 20, 2008 6:10 am   Post subject:   

Jeremy, I think that the insurance investigators also play an important role in regulating the insurance costs. Let me explain my standÂ…



The business of insurance runs on people living in the same risk bracket sharing the cost of risks within. This is what determines the cost of premium. Now if the insurance companies spend their money in fraudulent claims that will also increase the cost of the coverage for all the individuals participating in the coverage program. Insurance investigators, thus, by investigating into the frauds are saving the insurance companies from losing money on bad businesses and also saving the society from paying more for less.

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PostPosted: Mon Oct 20, 2008 6:16 am   Post subject:   

A life and heath insurance agent is likely to make more as commission than the P&C agent provided both of them have written same amount of business. And in addition to the questions put forward by life the earning of agent will depend largely upon his/her abilities to sniff business as well.



Thanks,

Rupert

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PostPosted: Wed Oct 29, 2008 5:03 pm   Post subject:   

If you go out and are able to get agents to work for you then you can make a ton. If you can get a contract in the 100% range you can put agents under you for 80% or 90% and make a override everytime they sell something. That way you can have 10 guys selling and yourself.

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PostPosted: Wed Oct 29, 2008 6:09 pm   Post subject:   

I have been in insurance for only 6 months now and I only sell P&C. The BEST way to get business is to educate everyone on what an AGENCY is compared to a COMPANY. I would say 75% of people dont know the differnce. If you advertise that you have 10-15 differnt companies you go through for the cheapest rate... they will call you back about 80% of the time and buy your product about 75% of the time.



You can always be a dick and do an AOR (Agent of record). If you have that same company the person is currently with and you cannot find a cheaper rate, you can ask them if they would like YOU to be their agent, instead of the other one. All you would have to do is sell your personality and let them gain confidence in you.



Try getting a license in P&C and Life/health. Start building your book and get other Agents to like you, a lot! Eventually talk to them about buying their book of business when they retire.



Once you make enough money you should hire someone to quote everything for you and sell it. You should have a CSR where you are now so you dont have to do to much work after you sell it, so you can focus on the big picture... MORE MONEY!



only 6 months in= $265,000+

And thats not including the books of business I bought (an extra $320,000+)


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PostPosted: Wed Oct 29, 2008 6:15 pm   Post subject:   

Is that 265K premium dollars or gross paychecks you write yourself?



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PostPosted: Wed Oct 29, 2008 7:02 pm   Post subject:   

Pay checks. I have a few BIG BIG commercial accounts.


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PostPosted: Wed Oct 29, 2008 7:43 pm   Post subject:   

Sweet.



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PostPosted: Sun Nov 02, 2008 6:15 am   Post subject:   

MEPower,

I was an agent with MetLife for a little more than 4 years. When I uncovered around 400 churning cases, I objected to my supervisors, who told me to look the other way. Instead of doing as I was told, I sent the cases directly to the CA Dept of Ins. I was then terminated by MetLife for "my inability to follow simple instructions." When my wrongful termination case settled, that was changed to "left of his own free will."



A short time later, I found myself with the CA DOI for almost 3 years. I left after I testified against our glorious insurance commissioner (who was terminated).



Afterwards, I moved down the street to the office of the Attorney General. I was encouraged to do so because the backlog of cases was so large, the statutes of limitations were running out before the cases could even be opened.



The whole time I worked with the State, I did not have an active insurance license (this is not allowed).



After the Governator took office, he eliminated certain positions in order to "trim the State's budget." My position was one of those he did away with. My license was reinstated and I moved to the private sector as a PI specializing in Life Insurance Fraud. I've qualified to work under CA section PC833 and have carried a weapon while working.



In the past 15 years, I have built a huge network of lawyers, legislators, and regulatory agency personnel. I have qualified as an Expert in many cases and am allowed to write an occasional policy as long as I stay well clear of any potential conflict of interest. I have been on the seminar circuit for a number of years and have either consulted for or appeared on every major news network.



As for the money, some years are better than others. I've made MDRT 6 times (2 before going with the State and 4 after going back on my own)

Because my business is somewhat unique, I am often exposed to sales opportunities most agents don't have access to. I even have lawyers and regulatory agencies referring business to me. That doesn't necessarily make me a better agent than you or anyone else, I've just gone in a slightly different direction. In fact, I only write 5 or 6 policies each year but, so far in my insurance career, I've written two policies with annual premiums in excess of $2 million.



I have a great team of superstar agents who help me out and I steer all the business that others might deem questionable to them.



If you'll email me, I'd be happy to send you a copy of my CV.



Now you know,

Mark



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PostPosted: Sun Nov 02, 2008 9:53 am   Post subject:   

Quote:
In fact, I only write 5 or 6 policies each year but, so far in my insurance career, I've written two policies with annual premiums in excess of $2 million
ok, sorry I've just got to ask what on earth type/kind of policy has a 2mil. a year premium? ShockedSurprised


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PostPosted: Sun Nov 02, 2008 4:17 pm   Post subject:   

Hi Lori,

The first was a $35m policy on a 74 year old woman in NY whose husband once employed Donald Trump. This story is on the front page of my website. After winning the case, her lawyer (who was also her son) suggested she do business with me. The Interest Sensitive Whole Life policy was for estate purposes.



The second was a $28m policy for a 61 year old man down in Carslbad, CA. He was one of the small group that started a company called BFI (also known as Allied Waste Industries, inc.) He bought a large Mass Mutual policy from a supposed estate planning guru who promised him that his premium would vanish in 3 - 5 years. Well, 7 years later, the premium had not only NOT vanished but actually needed to be increased. After the case settled, I re-wrote a type of UL blend policy with AmerUs (now Aviva).



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PostPosted: Sun Nov 02, 2008 4:42 pm   Post subject:   

cha-ching...I'm just a blue collar workin' red neck...that 'kind' of money just boggles my mind...



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PostPosted: Sun Nov 02, 2008 5:11 pm   Post subject:   

You know what's great about that? I've seldom seen any "red necks" who aren't honest, hard-working people, who'd give you the shirt off their backs. I got lucky; one day I got fed up with a dishonest system and stood my ground, just like you and almost any other red neck would have done. I didn't have a great deal of money or the power I neded to fight the system. I was, however, on the positive side of right versus wrong. I was standing on the railroad tracks telling old people in wheelchairs to get off the tracks, the train is coming. A bunch of sympathetic hearts and the major media jumped on it and I got my 15 minutes of fame.

Once the ball was passed to me, I ran with it. The rest is history.



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PostPosted: Sun Nov 02, 2008 7:55 pm   Post subject:   

Quote:
"...The first was a $35m policy on a 74 year old woman in NY whose husband once employed Donald Trump.... The Interest Sensitive Whole Life policy was for estate purposes....



The second was a $28m policy for a 61 year old man down in Carslbad, CA. He was one of the small group that started a company called BFI (also known as Allied Waste Industries, inc.)..."




Like I've said on other threads:

Sock-It-To-'em-Obama!!!

A vote for Obama is a vote for lawyers and insurance agents!



Gee whiz, InsInvestigator, WHY would a 74 year old woman need a $35,000,000 million dollar policy? Wink



Razz I thought A. L. Williams said as you grow older and more wealthy you don't need any life insurance and especaily NOT cash value life insurance at that age??!!??!!??!!??!!??!! Evil or Very MadTwisted EvilRazz


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