Commission is equal to all of the premium amount paid by the policyholder their first year. Most agencies that offer our access of carriers and level of support start at 80%. But since you’re already a real estate agent with us we can offer you up 100% of carrier-paid commissions on life policies (up to total TP on IUL’s).
Takes about 15 minutes to complete an application. And there’s no negotiation required because the rates are based on the applicant’s age and risk factors!
Payment comes from carriers - within days of policy issuance. 9 months can be advanced, whereas the 10th-12th payments are paid when received by carrier.
we have access to A-Rated insurance carriers to offer more products to applicants!
Outside of your own business, you can buy leads directly through our IMO. Similar to the way real estate leads are bought from Zillow. They can cost between $1-$55 each depending on insurance type and if they are live or aged.
Our IMO provides scripts, boot camp, and regularly scheduled training meetings that you can jump on voluntarily.
We all have an ”upline” and I would be yours.
Bring new agents on to join us @ 90%-95% and collect a 5%-10% profit share from the policies they write! This is called an override.
Not quite, you must also be “appointed“ before you can offer insurance products. In order to get set up for contracting you must file for a resident line(s) of authority, where you are then given a national producer number (NPN) from the NIPR. Once received only then can we connect to IMOs/carriers. https://pdb.nipr.com/my-nipr/frontend/identify-licensee
Nope. Independent agents are independent contractors, therefore are paid like 1099s. An insurance agency that is owned and operated by a single licensed agent conducting business in his or her individual name and not employing or otherwise using the services of or appointing other licensees is exempt from the agency licensing requirements. But it’s up to you to create an LLC or not. The LLC can be any name, just not to mislead or conflict with being an insurance provider or government entity. If you choose an LLC other than your own name, then after fully setting up yourself individually, you must register the LLC as an agency with the State, known as a 21-05 license where you can then register yourself as the agent-in-charge. You can do so at https://dice.fldfs.com/public/pb_index.aspx Your LLC will need its own NPN too, and then your business address, E/O & bank account information needs to all reflect the LLC.
Yes, errors and omissions insurance protects you from any professional claims made against you - and costs around $30/mo. It needs to be in your operating entity name.
Insurance/Independent Marketing Organizations are entities that bridge independent agents with insurance carriers, offering access and higher comp/pay. Our IMO is Family First Life. https://www.fflgoldenstate.com
After initial introduction these will be the sites to do so:
Heirarchy Setup https://hcms.chims.uppatop.com/
AML Training https://knowledge.limra.com/Login.aspx
Bootcamp Training https://fflnational.com/ffl-agent-hub/
Yes, but only with other agents of ours that hold the proper licenses. This is how the pay structure works all the way through the upline as a team. Like a disbursement authorization.
Yes, but not to exceed $100 (in value) per person, per year, and must be available to all, as set by state law.
Yes, you can pay someone any flat $ amount in exchange for leads, as long as they are not dependent on whether a policy is purchased or not. Basically, buying leads Is permitted.
Yes. Send to Insurance@SomerdayGroup.com to receive up to $100/application referral fee.
If you wish to receive leads, you must be licensed.
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