How does commission & residual income work?

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Tue May 22, 2012 1:53 am   Post subject:   

It can be. But your friend does not sell "Medicare" -- he is either selling Medicare Supplement or Medicare Advantage plans to seniors. Few agents get to $300,000 in income. Have him show you his check stubs to prove it. If he won't, it's because he doesn't make what he claims. If he says he can't -- for whatever reason -- then you know for sure he doesn't make the kind of money he's talking about.



I have several personal friends who make that kind of money, and more, and who would show you their checks without batting an eyelash. Much of their income is not from personal production, however, but from commission "overrides" on the production of other agents in their agencies.



_________________

CA-licensed Life & Disability Analyst. CA Insurance Lic #0596197. Also investigating insurance company abuses, and providing litigation support/expert witness services. Send me your questions, and I'll send you my answers.
MaxHerr
Forum Expert
Leave a quick message

MaxHerr
Forum Expert

Joined: 29 Nov 2009
Posts: 7888

Location: Pomona CA
107.61 Dollars($)

PostPosted: Thu Mar 12, 2015 1:04 am   Post subject: looking  

i am looking accepting a job as an agent. here is the offer...hw will pay for classes, i will receive $1000 per month plus 90%commission the first 2years. then down to 70% He is givingbme the last agents book which is built up over 6 years


_________________
Register Now to have your Insurance queries solved.
sterling
Guest







PostPosted: Thu Mar 12, 2015 5:46 am   Post subject:   

Quote:
i will receive $1000 per month plus 90% commission
. Do you have any of this in writing? Because an arrangement like this is highly unusual in our business.



90% of what? You get 90% and the agency gets the other 35% on a cash value life policy, or you get 90% of the 125% and the agency gets the other 10%? I would want to see this spelled out on a piece of paper I could take to court as evidence of a breach of contract when things didn't turn out that way.



Additionally, there are virtually no residuals for life insurance business. You get a first year commission, and maybe a little something in the second year. But that's it. Always have to be writing new business.



Auto and homeowner's is different. Commissions are 15-20% of annual premium. So 90% of 15% of $1000 would be $135.



You need to ask more questions about the compensation. If there is a salary, then there is some sort of quota attached to that, because no one is giving a new, inexperienced agent a book of business and $1,000 per month plus commissions without some sort of target -- x dollars of new business per month. Are they going to give you sales training, or are you on your own, and calling your friends and relatives to drum up new business, or cold-calling people out of the phone book? What are you going to sell to the existing "book of business" that they don't already have? Or are you going to churn them out of their existing products and put them into new ones just to make a commission?



Makes very little sense to me.


_________________

CA-licensed Life & Disability Analyst. CA Insurance Lic #0596197. Also investigating insurance company abuses, and providing litigation support/expert witness services. Send me your questions, and I'll send you my answers.
MaxHerr
Forum Expert
Leave a quick message

MaxHerr
Forum Expert

Joined: 29 Nov 2009
Posts: 7888

Location: Pomona CA
107.61 Dollars($)

PostPosted: Mon Apr 16, 2018 7:02 pm   Post subject: Finally, Just What I Have Been Waiting For!  

Hi



My Name Is Romingson, I Provide Top Traffic System Rotator, All Real Visitor Visit You Website!



=We Are Work For Tou, New Traffic System=

=This Ads Will Run The All Traffic System=

=More Traffic Visitor,More Sales Opportunity!=



-If You Miss, Your Will Miss Forever And Never Know!-



( https://worklive19868.wixsite.com/onlinetrafficearn )



Have A Good Day


_________________
Register Now to have your Insurance queries solved.
Tanesha Ethridge
Guest







PostPosted: Wed Jun 13, 2018 1:37 am   Post subject: Free Leads System, High Traffic Area!  

Hi,



Get Instant access To:



1000+ fresh opt-in leads every 24 hours!

10.000+ updated email addresses every week!

15.000+ updated email addresses every month!

100.000+ updated email addresses every month!

900+ updated surveyed phone verified leads every week!

140 SUPER HOT Daily Prospects (up to 100% Interest level)

+ Much more...



ALL LOOKING FOR WAYS TO MAKE MONEY ONLINE!



Mail 1000+ random leads from inside the members area EVERY 24 HOURS!



Just join - get INSTANT access - download leads!

(NO HIDDEN UPGRADE-PAYMENT BUTTON)



Join here:

https://createsplashpages.com/splash.php?id=4115





To your success!

Robert Sam


_________________
Register Now to have your Insurance queries solved.
Lasonya Bachus
Guest







PostPosted: Mon Sep 02, 2019 3:30 am   Post subject:   

Amanpour sellers on Twitter



The pm of Turkey is a nut case. Carzy. really a stupid man.



Contact me if you want more details on how he held a Turkish Airlines flight April 11 from Istanbul to Chicago.



A member of parliment was sitting next to me operational class. The Primie Minister held issues the plane for 2 1/2 hours. Everyone missed their contact lenses in Chicago but he would not let the plane fly because Muhammed Cetin was accusing him of corruption and embezzlement. Then they kicked me off the plane because I was capturing and was complaining about the delay for childish politics. 273 guests were screwed. everyone lie.



'll 15, 2014 during the 5:13 pm answer



I so wish our comments could alter the world but honestly I am afraid they never will. Powerful people run the show and use these realities to their welfare, We don see any news of going regularly in their country and fighting for their democracy and safety? No oil presently there? Not a big problems to funnel millions into someone pockets unaccounted for? What happened to fundraisers for other nations in truth would those who need help really get the help? It is not just south usa, We are seeing ukraina girls a world in crisis everywhere and it is looking like its those who are in power are only shopping for themselves. May God help us bear the pain and suffering everywhere may those who suffer find help somewhere? Yes our nation cannot help alone if we are not helping ourselves first we are suffering triggered not rich, Who can stop the corruption all over? which of you? and some tips? I say yes help but in that room country not ours? body fat help themselves fight for peace and well being why is this not a just cause to go help in their country? What might be priced at fighting for anymore.


_________________
Register Now to have your Insurance queries solved.
ukrainegirlsdvc
Guest







PostPosted: Fri Sep 13, 2019 12:56 pm   Post subject: hot russian mom  

Palo Alto within the net



Hope fades for construction at Fry's site



With its ambitious effort to revitalize the Ventura locality in danger of faltering, Palo Alto authorities agreed on Monday. Last comment 2 hours ago 33 criticism



The city of Palo Alto and school district's joint effort to redevelop Cubberley circle Center has hit a bump, With considerations. Last comment 2 hours ago 21 evaluations



Planning commissioners kick back Castilleja draft ecological impact report for additions



Finding gaps in the Draft environment Impact Report for Castilleja School's planned expansion, Palo Alto's training and. Last comment 1 hour ago 41 information



long time Palo Alto free lunch, Dinner program for the needy ends



Homeless which they breath been eating free lunches and dinners through the Breaking Bread program in Palo Alto now have to. monday, 9:55 AM 1 feed-back



Family of Armenian hot russian girls boy receiving care at Stanford for rare disease may be forced to leave



questionnaire: Nearly one inch three Santa Clara County teens have tried vaping



Menlo Park man accused of sexual assault of minors arrested again



Online program helps East Palo Alto mayor fulfill dream of getting a bachelor's degree



Palo Alto looks to commercial tax to fund shuttles, Rail upgrades



Arts festival features operational, incredible pieces for the home



Stanford women's volleyball coach Kevin Hambly must be delighted by the make up of his roster this season. The couseling for national champions return nearly its full team and have added talented players who can (which will) Make impression. monday, 3:42 pm.


_________________
Register Now to have your Insurance queries solved.
charmdatescamreviewsves
Guest







Quick Reply
Your Name
Subject
Message body
All times are GMT
 Previous  1, 2
Page 2 of 2


Get a Quote
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

    Connection Error: Connection refused