Controlled business question

[WinoBlues]

So I heard if you write policies on family and friends not yourself after the first premium is paid they advance the commission? Which carriers pay advanced I heard Mutual of Omaha any others ?

I can not tell on my phone which forum this in. If you are looking to sell yourself FE products for any reason other than you can not qualify for a decent fully underwritten policy. You are screwing your family.

Ask the FE agents if they sell themselves FE policies. OK, not old guys like Louis.

How long have you been licensed? If less than a year what did you do before? How did you do there? Why did you leave?

 

[Shakray]

Not final expense talking about whole life policies and others

 

[WinoBlues]

No clue?

Find the appropriate plan for your family. Write that and find out.

 

[somarco]

Which carriers pay advanced

Can't say.

I have never taken advances.

 

[ianbroker31]

Hey Shak have you ever sold a life policy before?

 

[xrac]

slightly off topic.. but another agent told me it's frowned upon to write business on yourself... is that true?

Don't believe everything you have been told.

 

[Shakray]

Hey Shak have you ever sold a life policy before?

Yes

 

[WinoBlues]

Hello,

If you are just starting out, which carriers pay advanced commission if you are writing a policy on yourself, wife, kids, father and mother in law? I heard Mutual of Omaha does, I know in the last a lot of agents did shady stuff and now most do as earned for controlled. But any insight on which carriers do would be appreciated

Is this for you or recruits?

 

[DayTimer]

If you are looking to sell yourself FE products for any reason other than you can not qualify for a decent fully underwritten policy. You are screwing your family.

Ask the FE agents if they sell themselves FE policies.

I bought myself a small FE policy from MOO because I like to be able to show folks that I don't just sell the product, but also that I'm a buyer just like them because I think it is good enough for me and my family. Now, that isn't my only insurance. It is a very small policy, and I paid the annual premium. I did not pay it out of my business account, as I would doubt the IRS would consider it to be a business expense. However, in my mind, it is a business expense. Specifically, it is a marketing expense as it is part of my sales presentation.

If you do Annual Premiums they all advance

It did take me by surprise when the commission hit my business account a few days later, as I didn't expect to get paid on a sale to myself. When I sold cars, I always owned a model of the make I sold (for the same reason I want to own a small FE policy on myself so long as I am primarily an FE agent). The dealer never paid me a commission on a sale to myself.

 

[ianbroker31]