Roll Up Debt & High Commissions-not what it seems?

[DayTimer]

thank you! Yes. I actually sold an additional policy to a client. When I showed up, she showed me the business card of not only an FFL agent, but someone in my own group. That's when I figured it out. It was a 3 month old Internet lead and the person who got to her first bought the lead when it was new. I bought it at $2 she bought it at $11. But when I ask, they keep denying that they are resold within FFL.

IMO's that resell your leads:

EFES
FFL

That is important for agents and prospective agents to know.

 

[DonP]

You ever wondered how FB vendors generate 30 leads in a 50 miles radius in 48 hrs ?I know for a fact many of these supposedly well respected vendors reselling the leads . Only 2 ways to buy leads so you know their fresh right then .Original card mailed to you or rgi card saying reply by this date . Wether there resold after you need body knows . I'm very suspicious many many reputable IMO's reselling Walmart gift card and memorial guide leads . They have nothing like "2021" or were they write there age in . I actually had a supposedly fresh lead were the lady told me the person died 2 months ago . Let's not be naive . You think it's possible for every agent in an area to get 20 leads a week without tons of resells ? There's 30 plus agents mailing some areas .

 

[scagnt83]

OP, you are essentially part of a pyramid scheme within the insurance industry.

No respectable insurance firm has brand new agents recruit a downline and have a "team".

You dont even know the biz yet... how can you lead a "team"?

The people at the top arent getting those chargebacks... its the people under them like you.

That is not how the real insurance industry works.

 

[scagnt83]

No business is perfect and business has business issues. As for roll ups there's a good chance you can consider going the legal route or at least find out what your options are.

Consider getting a LegalShield membership and attaching a small business plan. Speak with an Attorney to find out what your options are as far as recovery.

Or just go it alone and find an Attorney on your own. Here's a hard lesson learned. No company can and will tell agents everything. It's a learned process.

One scene in the movie that stuck with me was when Bud Fox was telling his manager that a client backed out on him. The manager told him to get back on the phone because someone has to pay and it won't be him = Roll Up..

Sit down and decide what you want to do. If leads are an issue call the lead department and schedule a call. As for compensation just consider carriers do pay out different amounts. Consider something like a 10 yr term compared to a 20yr term commission.

As for product training carriers have trainings and consider taking a look at the Advance Marketing side where you can get trainings on IUL and FIA.

Wish you the best.

Posts like this make me miss the thumbs down button

 

[Newby]

OP, you are essentially part of a pyramid scheme within the insurance industry.

No respectable insurance firm has brand new agents recruit a downline and have a "team".

You dont even know the biz yet... how can you lead a "team"?

The people at the top arent getting those chargebacks... its the people under them like you.

That is not how the real insurance industry works.

This is exactly correct. Any time you find yourself at an IMO or agency that allows (let alone encourages) you to put other agents in your downline you need to know you are at a horrible place. There are no exceptions to this. You are new and green. You know very little. And you are on beginner level commissions. You have nothing to offer a downline agent except you got there first.

Those are pyramid recruiting agencies and they are huge by design but they are the bottom feeders of the industry. You will never get ahead in that type of set up. You are just co-signing debt for strangers. Huge amounts of debt. That YOU have to pay. It's real.

Go to an agency where you REALLY start at good commission levels. And make great money selling insurance. And if you want to build an agency do it the right way. AFTER you become a great agent and ATER you work your way up to recruiting level commissions which will start at no less than 130%. And that's REAL 130% not the fake 130% but you're really at 115% like some of the pyramids try to sucker you with.

 

[Todd King]

FFL just seems to be a crooked organization. They are making a big splash, but if you have to sling lies to do that...will it last? Sad part is that it probably will because there are too many brand new agents who will also be talking their friends into it. SAD!!!

 

[Duane Freeman]

This is another reason I refuse to buy leads from anyone because I don't trust leads from anywhere unless I know I generated the lead myself. This was posted on a site called microworkers, where companies pay people to do task such as filling out lead forms. These companies then sell these leads to unfortunate agents...

 

[suranceman]

This is another reason I refuse to buy leads from anyone because I don't trust leads from anywhere unless I know I generated the lead myself. This was posted on a site called microworkers, where companies pay people to do task such as filling out lead forms. These companies then sell these leads to unfortunate agents...

What in the hell is that anyways?

 

[Duane Freeman]

What in the hell is that anyways?

People go on these sites to pay for reviews or affiliate marketers go there and pay these people as bogus leads. The marketer pays someone (microworker) to fill out an insurance request using their link. The marketer pays the microworker $0.50, and the lead vendor will pay the marketer $5.00 for the bogus lead. The lead vendor then sells the bogus lead to an agent for $20 or whatever the cost for an "EXCLUSIVE" lead is...

Vicious cycle

 

[Sylver Gallardo]

This is another reason I refuse to buy leads from anyone because I don't trust leads from anywhere unless I know I generated the lead myself. This was posted on a site called microworkers, where companies pay people to do task such as filling out lead forms. These companies then sell these leads to unfortunate agents...

I actually had a lead who said she enters lots of sweepstakes and even though she didn't sign up to get life insurance, she wanted to know more about it. I did meet with her. And sold her a policy but it seems like a rare occasion