Randall Baskin's "Growing Rich" Book - A Must-Read For Insurance Agents

[Rearden]

Randall Baskin's story from nothing to selling American Continental Life for $145 million to Genworth is an inspiring, hard-to-believe story about how a man from rural Tennessee with no formal education, or any "privilege," was able to succeed (but not before quitting once), first as door-to-door insurance salesman, then as manager, then finally operating an insurance carrier that helped seniors with their life insurance and Medicare Supplement needs.

Mr. Baskin's story captures the essence of what it means to succeed in America, and shows you how anyone (even you), can succeed despite the odds.

Hope you enjoy my review.

 

[Rearden]

Almost forgot - thanks so much to RouseMark on the forum for sharing this book with me!

 

[rousemark]

Almost forgot - thanks so much to RouseMark on the forum for sharing this book with me!

You are welcome... Randall's story is truly an amazing example of what a person can do if they are determined enough to do it.

 

[billyb]

Back in the 90's me and another local agent named Lucky Nunes were 2 of Continental Life's top prodcers of Medicare Supplements in Florida. Back then commissions were high enough that you could make a good living selling this product. Went on many company trips and met Mr. Baskin and his family. He was a curious old soul. If an agent wrote too much T65 he would warn them and if you continued he would cancel your contract. He wanted underwitten business. I think I had 4 contracts when the company left FL because of this. Simply wait a few months and submit a new contract. Still have several hundred of these policies in force. Don't pay any renewals.

 

[Rearden]

Was that before or after Med Supps paid 60% plus first year commission?

Bet that was a "roll your book" kind of business back then...

 

[NSRH]

Shoot, back then people had 4 of 5 med sups! There was no standardization!

 

[rousemark]

I am still getting some commission from them. The first "levelized" commission paid 50%fist year 25% renewal for life of policy.

 

[billyb]

I think CL paid about 40% FYC and renewals for 10. I never rolled my clients away from CL Aetna now, because nothing was cheaper.

 

[rousemark]

I think CL paid about 40% FYC and renewals for 10. I never rolled my clients away from CL Aetna now, because nothing was cheaper.

My first contract with them was 65/15 for the life of the policy.. That was around 1986 or so.