How often do you refer some leads to other brokers? I am new to life Insurance & annuities and recently I had someone ask me about health insurance. I had to refer him elsewhere, but I'd like to profit from such situations. Would like to know if I can automatize the process and how much money I could make out of it.

Not all referrals are equal. If someone just gives me a name of an interested person and that person calls me and we meet, I give a $20-25 gift card from their favorite restaurant.

I do not call referrals. Except when the referrer tells me that the person wants me to call and they have requested I call.

Makes no difference if they buy. If I meet with them and have a discussion then I get a gift card.

I quit doing MA plans many years ago. But I run into quite a few people asking for MA. I refer those to a guy that specializes in MA/MAPD. Again, I give the suspect his number. He doesn't give me a referral fee. He doesn't do life anymore. So he refers his life business to me. That's our quid pro quo.

Now, on a case where it's far more than just a name, like when an agent has done almost all of the work and I just need to finish it, I do a split. Usually 75/25%. If we are both contracted with the same company then I just do the split thru the company.

If not I just write a check for the 25% upon my first deposit on the case. Even though I'm paid as earned on all cases I annualize the 25% and go ahead and pay it.

Bottom line, if you just give me a name and number that leads to a sit you get a gift card. If you send me more than just a name and number we will negotiate.
It seems that most long term agents get leads from other agents,
Yup. Very good observation.

It takes time to build network and trust with other agents. In addition to that, most newer agents generally don't have the experience to handle clients as well as an experienced agent. Futhermore, the cold hard truth is that most newer agents won't be in business a few years from now, so I'd be cautious to refer a client to someone that likely won't even be in business a couple years from now.