Humana, Golden Rule, Wellpath through Third Party Marketers

[Expat]

If you need advances and leads to stay afloat, then sign with a GA for just one company. Sign direct with three or four others who pay earned/direct.
That way you will not have all of your eggs in one basket, and after a few months you will have enough income to do away with the GA

 

[artitude]

The good news is new agents can find a decent GR broker, get the advance and also start off at 20%.

Pardon my ignorance (the ink hasn't yet dried on my license), but where do I look to find a key agent/situation like that?

 

[2112Greg]

If you need advances and leads to stay afloat, then sign with a GA for just one company. Sign direct with three or four others who pay earned/direct.
That way you will not have all of your eggs in one basket, and after a few months you will have enough income to do away with the GA

Excellent advice. Just make sure that whatever GA you go with for advances will let you out 'at will.' And be sure to write business with the other carriers you go direct with, otherwise the whole approach is worthless.

Also, make sure the 'escape clause' with your GA is in writing. That way, you can continue to write business for that carrier on an as earned basis, apart from the relationship you have with the GA from whom you used to write that business.

 

[TXINSURANCE]

I think it is nuts to take advances on Individual over 6 months, preferably I wouldn't take advances at all.

If you are doing face to face small business owners advances might be a safe bet (overall), but doing Internet "shared" leads of transitional crowd - you are playing with fire.

Personally I would get appointed direct, skip the middle man you don't need a lot of production to get to the 20%+ range and don't have to worry about someone "releasing" you down the road.

My only advice to new agents - watch those advances carefully.

 

[somarco]

If you need advances to keep you afloat then pick up a part time job to provide a steady income. Much more predictable and safer than asking someone to loan you money against a policy that may not stay on the books long enough to pay off the loan.

 

[TXINSURANCE]

If you need advances to keep you afloat then pick up a part time job to provide a steady income. Much more predictable and safer than asking someone to loan you money against a policy that may not stay on the books long enough to pay off the loan.

I think Dave Ramsey says it best when he says "The world needs pizza delivery persons..." - there is NOTHING wrong with a part time job, unrelated to your primary focus... I agree with this 100%.

 

[Crabcake Johnny]

If your business doesn't stay on the books don't worry about an advance or as-earned or worry about a part-time job - get a full time job.

 

[artitude]

I'm a late middle aged man and I don't think delivering pizza's gonna help pay the mortgage or feed my kid. Some people, I suppose were able to live with their mommies while building their businesses back when, or had stash. I don't. I'm entering the game late in life, not having aspired as a kid to someday grow up to be an insurance salesman. But here I am. Are you gurus saying that if I can't wait six months or a year to make a grown up income. I should give it up?

If not, what's the best way to proceed, to find a key agent who'll give me a decent % and a fair shake - including an advance - while selling a product good enough not to be dumped too often?

 

[Crabcake Johnny]

Grab an advance. Assurant, GR (through a broker) World and Unicare advance. You can get off the ground easily, save up some money and make the transition to as-earned later. If you want a contact for a GR broker who advances weekly at 20% just PM me.

Opinions on this board are just that - opinions. Take what you read off this board and simply decide what's best for you. If someone's anti-advance that's fine - it certainly should not affect the way you run your business.