InsuranceGuy29
Guru
- 410
My point is the plans will get bought either way. Agent, no agent, $100 commission, $1000 commission... they might not like it, but it will happen.
And the post was referencing the comparison of life comp vs. mapd comp. One is a necessity, other is not... thats why it pays more up front.
I just replied this to a statement similar as yours......
The reality is, insurance is a very confusing field with a million laws and rules that are constantly changing. Before I was in this industry, I didn't even know what coinsurance or a deductible was. That's 95% of people in society.
Whether they want or like agents/brokers or not, people know absolutely nothing about how insurance functions, how to obtain it, where to obtain it, or what's what, and they need constant ACCURATE and QUICK advice/help with it.
Even in the nightmarish under 65 Marketplace (aka "Obamacare), they slashed many of the commissions and made some go to zero. They thought government navigators could handle it. A bazillion complaints later, agent commissions are reactivated in recent years and creeping right back up to where they used to be, as they saw most agents exit that market, as the juice wasn't worth the squeeze. Creates too much chaos.
Even when some of my clients call Healthcare.gov for even SIMPLE information, the idiots usually ALWAYS tell them the wrong information. Once these companies also saw how much money and business they lost, they panicked.
Never underestimate the power we have to ethically sway people into one company or the other. If company A treats me and my clients great and company B has similar or a few slightly less copays and treats my clients and myself like garbage....guess who I'm gonna recommend?
Whether they want to pay us or not, they know they have to. They'll just keep playing "the numbers game".....slightly raising some copays and premiums here and there as they go. In my area, in the under-65 market in 2017, only one company was paying agents, now they all are.
The main power brokers wield is CONNECTIONS and huge books of business that can be swayed either to or away from companies. That's invaluable to companies. They also help these companies actively obtain business all year long.
So, sure....anyone can sign up for a Medicare Advantage plan, but most people don't even know the first thing about where to start, they don't want to be bothered with it, they don't understand it......and for the companies, we agents come cheap and help them obtain business and keep business by answering all their questions. That's a very cheap benefit, in the overall scheme of things.
With your frame of mind, you're giving the general population WAY too much credit. lol. And I don't say that in a demeaning way, but it just is reality.