Expected Commisions?

[LifeVet]

I'm looking to escape the "captive" model and enter the phone/internet
sales game. I'm looking at Pinney and Levinson and a few others.

I want to stay in the whole life/final expense arena. What should I expect
in commissions from Pinney and Levinson???? Any help would greatly be
appreciated!!!!!!

 

[goillini52]

I'm looking to escape the "captive" model and enter the phone/internet
sales game. I'm looking at Pinney and Levinson and a few others.

I want to stay in the whole life/final expense arena. What should I expect
in commissions from Pinney and Levinson???? Any help would greatly be
appreciated!!!!!!

Did you try asking them?

 

[F150]

Did you try asking them?

no, of course not, they would rather spend the time googling, creating a profile etc, instead of doing the simple easiest thing......

 

[pcbinsurance]

Those two are great for term insurance, etc but I'm not sure if they are big players in the FE space, which you say you wish to focus on.

 

[LifeVet]

Those two are great for term insurance, etc but I'm not sure if they are big players in the FE space, which you say you wish to focus on.

Correct! The contracts were putrid for FE/WL. What interests me about
Pinney is the EZlife system, and Levinson has the I-genius..

I was hoping for much better commish! Seems they're a good 35% below standard. Any recommendations?

----------

Did you try asking them?

Yep...hoping to find out if they were low balling me, and I could find out if
the bad news was true, or find a better contract!

----------

Did you try asking them?

Yes and can't believe how low they actually are. They're a good 35%
below typical FE contracts. They said they're negotiable once business
is submitted.

I like the EZlife and I-genius systems....but entry level commish sucks!

Anyone have any ideas????

 

[WinoBlues]

Correct! The contracts were putrid for FE/WL. What interests me about
Pinney is the EZlife system, and Levinson has the I-genius..

I was hoping for much better commish! Seems they're 25-35% below standard. Any recommendations?

----------



Yep...hoping to find out if they were low balling me, and I could find out if
the bad news was true, or find a better contract!

----------



Yes and can't believe how low they actually are. They're a good 35-40%
below typical FE contracts. They said they're negotiable once business
is submitted.

I like the EZlife and I-genius systems....but entry level commish sucks!

Anyone have any ideas????

What interested you in Pinney?

 

[Newby]

Did you try asking them?

Piney is excellent for term cases. I don't think FE fits their business model at all.

I've never heard of the other one.

FE is mainly sold in person. A few companies make it easy to sell by phone such as Equitable, Americo, American Memorial, and Assurity. Most of the others do not want telesales business. ForeThought was one of the best for telesales and they yanked their product entirely this year. I doubt that was because their persistency was too good.

Right now, my advice would be to choose one of the three
1. Sell FE face to face and make a bunch of money

2. Sell one of the four companies I mentioned by phone and make a bunch of money

3. Hook up with Jeff Root and Pinney and sell term by phone and make a bunch of money

4. Try to reinvent the wheel (unless you have a LOT of resources) and die broke. For every Henry Ford there are a million broke guys that went down a wrong path.

 

[JRoot]

LifeVet - I spoke with you last week and referred you to Newby after listening to what you're looking for. It surprised me to read your comments and I feel the need to respond to your "putrid" FE comp remarks.

You must have called Pinney directly after our conversation (since I didn't send you a comp grid). They put all new agents at an entry comp level until the first few cases are submitted and then they'll revisit....unless there's proof of production.

With that said, Pinney isn't an FE specialist which is why I referred you out.

I should mention that Pinney supports a few FE carriers on the EZlife system which many phone/internet agents love. All they need to do is submit a 1 page online application and we do the rest (e-signature, submission, processing). For the "high volume" internet agents, it's worth it. For everyone else, it's not and that's why I refer FE business out.

I know you want to sell online and over the phone, so take Newby's advice above and get started with those 4 companies.

 

[scagnt83]

Pinney gives basic street comp without proof of production. That is standard in the industry.

If you use the EZLife system the comp can be reduced if you choose to let the ezlife sales team complete the sale, but this only is relevant for just one of about 3 options for web sales.

In general, FE comp is higher than traditional life products. But traditional life products usually have higher premiums too.

 

[WinoBlues]

I have much higher contracts with some of the carriers I have with Pinney. I find am using them more and more. They make us money. They are very good at what they do. Your post makes no sense.