If you did not sign a formal employment contract, you probably do not have one.

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PostPosted: Sat Aug 23, 2008 3:39 pm   Post subject:   

my understanding of her statement was that she was basically doing the complete sale. I do agree though that if you are just closing the sale (doing the paperwork) then I think your salary is correct.

lisar1208
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PostPosted: Tue Aug 26, 2008 12:25 am   Post subject:   

It seemed to me that she was doing the closing, not just the paperwork. What I really meant was: Is she finding the customer? That's the hardest part of the work. I think I threw it off a bit with my paper-pushing comments. Sorry.

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PostPosted: Tue Aug 26, 2008 7:58 pm   Post subject:   

remember, because there is no limit to how much you can make as an insurance agent/self-employed person, there is salary, either. You eat what you kill.

And watch out for a non-compete clause in your contract.

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PostPosted: Tue Aug 26, 2008 10:57 pm   Post subject:   

hope I don't sound dumb, but what is a non compete clause?

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PostPosted: Tue Aug 26, 2008 11:56 pm   Post subject:   

Ah Lisa no questions that are genuine are ever dumb...a 'non-compete' claus is a clause in a contract that says you will not be in competion with the other party of the contract for 'x' amount of years or within a certain mileage range.or whatever the specifics are..for instance, I sold a business one time, and in the contract was a non-compete clause for 5 years and 50 miles...meaning I could not open up another business of the same type within 50 miles of the business I sold for five years...I could open one up 51 miles away, or in five years one right next door if I wanted to...



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PostPosted: Wed Aug 27, 2008 1:35 am   Post subject:   

a non-compete says that you are not allowed to 'compete' against your current employer. Google "non-compete" and you will get a ton of information. If you did not sign a formal employment contract, you probably do not have one. The problem with non-competes is that most of them that are written are too broad (they go too far so that you cannot earn a living), but do you want to take the risk of getting sued?

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PostPosted: Wed Aug 27, 2008 4:48 am   Post subject:   

Hi OHIInsAgent..somehow I have this feeling that you're supporting the sales person than the pure marketing brain-



* The salesman initiates a sale (catches the attention of the seller)

* He again describes an offer & invites queries to be faced with his product knowledge (highlights the benefits & covers the faults)

* He pops up the trial close (Charging is the most difficult challenge)



So, basically all the salesman does is quite beyond a simple clerical job.

However tedious a clerical job is, it never has that steep challenges associated in its course!

Thanks for explaining things the right way..

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PostPosted: Wed Aug 27, 2008 10:34 pm   Post subject:   

I do have that in my contract but mine does not say a time it says 20 miles. Confused

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PostPosted: Thu Aug 28, 2008 4:27 am   Post subject:   

The non-compete covenant can be described both in terms of time period and geographical boundary. Yours must have the geographical boundary clause in it, which implies that you can't pursue the same trade against your previous employer within this geographical surrounding.



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PostPosted: Thu Aug 28, 2008 9:14 am   Post subject:   

Then more than likely you can't set up an agency within 20 miles..is there ANY time frame at all? or 20miles forever?



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PostPosted: Thu Aug 28, 2008 1:31 pm   Post subject:   

actually when I reread it, it does say 2 years and 20 miles from the office.


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PostPosted: Thu Aug 28, 2008 1:32 pm   Post subject:   

actually when I reread it, it does say 2 years and 20 miles from the office.

sorry i forgot to log in

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PostPosted: Thu Oct 09, 2008 2:01 am   Post subject:   

I've been where you are. It was a different field and many years ago; however, it was until I broke it down in writing that my employer understood who he was dealing with. I was in college, early twenties, and a little old receptionist (so they thought). I was working on my BA in Management Information Systems and was very computer literate. The only reason I remained in that position was because the slow hours of the day allowed me time to do homework. Basically what I'm saying is take advantage of the opportunity which you have done. You now have the knowledge and experience and it sounds like you have the drive to type of that paper and call a meeting. Sit with the agent and make your strong points clear and ask if a raise would be an option considering your role has changed tremendously in the past year and that you have quietly and proficiently took over many task previously done by someone else at a much higher salary to show that you can do the job and that you are not just worthy of the position, but also of the raise and that you would appreciate if she would consider it and get back to you at her earliest convenience.



No matter what happens, you are well on your way to a successful career. You have the knowledge and the sales skills which are exactly what you need to make it. In the case that you don't get the answer that you are looking for, shop around for new employment so that you can see what is out there. Take a look at Careerbuilder and Monster .com to see what salaries are being offered for those skills in your area so that you make an educated decision on if you will or won't stay. You now have the ability to open your own agency. That will be difficult with the bankruptcy in place, but not impossible. Options are to start off by working from home (saving money on office space) or you can look for trusted investors (family, friends, etc). I hope this helps.

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PostPosted: Thu Oct 09, 2008 7:54 pm   Post subject:   

Quote:
Considering the fact that I'm licensed now for a month, and have a lot more experience, I'd imagine a commission type income would be deserved. But I guess not...




You wrote all that business and you weren't licensed?



I'll side with Gary on the "good for her." She paid her dues. She took the huge business loan, paid it off, worked 12 hours a day, etc.



And all that hard work got her to the three-hours a week/200K per year position she is now. After you do pay your dues, you will be able to do that too.



You said you and a partner are opening an office. Independent? Captive agent? Also, make sure you didnt' sign a non-compete with your present employer. Where some states don't enforce them, it could still be a sticky situation.



If you want to consider being a captive agent, PM me.


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PostPosted: Thu Oct 09, 2008 9:52 pm   Post subject:   

There is a lot of information here, but as I understand it, you were working at this agency, quoting insurance policies and explaining insurance to the clients at a time when you were not licensed - am I correct on that?



In most states that would be totally illegal. If you weren't licensed, then you could not be paid commissions on the sales.



Now you are licensed and that puts you in a totally different situation.

You should receive a commission on any sale you make directly and $24,000 a year is just not enough.



Take my word for it, starting your own independent agency is not all that it's cracked up to be, especially with our economy in a total disaster.

All the commissions will be yours, but so will all the bills be yours.



I would strongly consider going to work for a captive company where you can be guaranteed a certain salary (plus commissions) while you actually learn how to be an independent agent.



You seem to be a very intelligent person and should have no problem either way, just don't sell yourself short. You are only worth what you sincerely believe you are.



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