Chargebacks Expected from a Producer??

[senior-advisor-indiana]

I guess this forum was a dead end....I've been a business owner for many yrs. Absorbing costs is a big part of that....and even if that means being in the red, I do it to keep my people employed. Wish those same ethics we're prevalent in this industry...Ah, who am I kiddin', most agents are too broke to be honorable I guess.

Are you on straight commission or do you also get an hourly wage or salary?

 

[sman]

I guess this forum was a dead end....I've been a business owner for many yrs. Absorbing costs is a big part of that....and even if that means being in the red, I do it to keep my people employed. Wish those same ethics we're prevalent in this industry...Ah, who am I kiddin', most agents are too broke to be honorable I guess.

Are you freakin serious? This is a business where NOBODY gets paid unless a policy is issued and paid. It's clear to me by your statements that you don't comprehend how it works.

Here's an idea, go independent and see if you get paid on non-issued business. If anything your boss is too generous. The very fact that most companies don't pay commission on submission is because crooks took advantage of it by writing tons of bogus business.

And to your last sentence, there are several here who make well into six figures. How about you?

 

[Norwayguy]

I guess this forum was a dead end....I've been a business owner for many yrs. Absorbing costs is a big part of that....and even if that means being in the red, I do it to keep my people employed. Wish those same ethics we're prevalent in this industry...Ah, who am I kiddin', most agents are too broke to be honorable I guess.

Question is your commission a percentage of premium if so what makes you think your entitled to said commission without the premium.

 

[Thad.Sipple]

The fact you get advanced pay before the application is approved and paid to the broker is very liberal of her, and honestly she is taking most of the risk. This is insurance we don't get paid till it's approved and issued and if we get advanced usually 6 to 9 months, and the client stops paying we get charged back.

 

[LGilmore]

I have to ask the OP, do you understand that you are on a commission basis? Do you earn the same commission if a sale takes an hour or 6 weeks?


If chargebacks are hurting you, consider going as earned.

 

[RonRoberts]

I guess this forum was a dead end....I've been a business owner for many yrs. Absorbing costs is a big part of that....and even if that means being in the red, I do it to keep my people employed. Wish those same ethics we're prevalent in this industry...Ah, who am I kiddin', most agents are too broke to be honorable I guess.

Find a new line of work. You'll be much happier.

 

[senior-advisor-indiana]

I remember when I first started in this business my family would try to tell me I was getting scammed because I had to pay back money sometimes. I ended up not ever talking to them about the business because it was constant fighting over getting a real job. My dad was the worst and now I make 3 times more than he does...

 

[Norwayguy]

I remember when I first started in this business my family would try to tell me I was getting scammed because I had to pay back money sometimes. I ended up not ever talking to them about the business because it was constant fighting over getting a real job. My dad was the worst and now I make 3 times more than he does...

According to Rick you do almost no business....I have to ask is your father still among the living?

 

[senior-advisor-indiana]

According to Rick you do almost no business....I have to ask is your father still among the living?

Haha..........yes.............

 

[tins]

I guess this forum was a dead end....I've been a business owner for many yrs. Absorbing costs is a big part of that....and even if that means being in the red, I do it to keep my people employed. Wish those same ethics we're prevalent in this industry...Ah, who am I kiddin', most agents are too broke to be honorable I guess.

You do not have what it takes to make it in the insurance industry.

Sorry.