Working for an Independent Agent, Good Idea?

[souldeux]

Its just that when you contract UNDER a GA, they already receive a commission. So if he is contracting you as your GA, then working a split as well, hes double dipping and not informing you. It sounds like you have a sweet deal here, one way or other, and I would imagine that he is contracting you direct and splitting commissions rather than contracting you under him.

You'll know really quick without asking if when you start doing appointment contracts he's listed on the contract as your General Agent, hes getting an override in addition to the 20%. Standard life contracts should be around 100% for term. 90-115% is very common. If your contract is lower than that, and hes splitting what you get, and he's your GA, hes screwing you.

Those percentages are going to depend on the company. For instance, a 95% contract with Assurity would be almost insulting. With a few other companies though, that's way above street.

And I agree with Harry - I'd be surprised if he didn't put you in his downline. Aggregating the production could qualify him for better contracts, nevermind the override comp.

 

[palerider]

Sounds good to me, and it dosen't hurt to try.

 

[ksigmtsu]

Those percentages are going to depend on the company. For instance, a 95% contract with Assurity would be almost insulting. With a few other companies though, that's way above street.

And I agree with Harry - I'd be surprised if he didn't put you in his downline. Aggregating the production could qualify him for better contracts, nevermind the override comp.

I knew that wasn't 100% accurate just wanted to give a general baseline for term. I thought 70% was awesome when I was recruited because I had no idea, and I was going to have to meet production quotas to get there.

 

[Josh]

Working under a successful independent in a small office is the ideal situation to be in.
It does raise an eyebrow that he is ready to take a guy under his wing based on a mis- dialed number.

I'm going to have to agree with this thought.
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I knew that wasn't 100% accurate just wanted to give a general baseline for term. I thought 70% was awesome when I was recruited because I had no idea, and I was going to have to meet production quotas to get there.

NAA? NILICO? AIL? Primerica?

 

[johndale]

You can try and check the difference - the pros and cons. Then let us know then if what's better and worthy of time.

 

[ksigmtsu]

I'm going to have to agree with this thought.
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NAA? NILICO? AIL? Primerica?

EMG. Although I hear the others are just as bad.

 

[Josh]

EMG. Although I hear the others are just as bad.

You're indy now, right? Do any health?

 

[mjnoles1]

I'm going to have to agree with this thought.
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NAA? NILICO? AIL? Primerica?

Which part of the quote do you have to agree with?

 

[Josh]

Which part of the quote do you have to agree with?

That an agent misdialed a number and magically got connected to someone who is a perfect fit for them in their career. I believe that things happen for a reason, I do, but this situation seems odd. In this guys entire friends/family/associates network NOONE is interested in working with him? Have their been others in the past? Why didn't they work out? He hasn't successfully recruited or trained any agents before? These are all questions that come to mind. I'm not saying it's a bad situation, but it's something I'd certainly give more thought too.