Question:

If you were a health insurance agent without residuals (renewals), what would your best options be?

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Thank you for your advice. I do get residuals on group business - about $5 to $7 per person per month. Seems low....but no residuals on individual business whatsoever. Is this right, and can I become a general agency as an individual and receive what my broker is getting now? Can I do this from my home? What carriers might work with me? Thanks!

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  1. First, re-read Tyr's advice.  He offers good counsel.

    Second, please mention your state.  If you are licensed in one of the states my company is expanding into, you could be hired to run your own shop.  In less than five or six months, perhaps...depending.

    If you are competent enough to find my eMail information on Y!A, send me an eMail with your state mentioned.   I really think you should be achieving your financial rewards for written business.  

    I sure hope your company offers you additional compensation if you recommend another agent.  (We call them overrides.)


  2. Your question is a little vague...Are you paid only once for each group, and receive no further compensation?  Or do you not have any groups?

    If the former: Find a new Brokerage.  No brokerage worth their weight in salt will deny their brokers the residual income, because it encourages the brokers to ignore their clients.  Find someone that will pay you the commission you EARN and go with them.

    If the second: create a list of industry/businesses that you want as your clients.  Research contact names and the specific niche that each business fills.  When you've got a list of at least 100 companies: CALL THEM.  Twice a day for two weeks or until you get a chance to meet with the decision maker.  When you call, do try to compete with their current broker, let them know how you excell, what makes you special, and what services you can offer that no other broker does (everyone's got some gimic).  Then, sell sell sell.

    If you mean something else... please clarify so people after me can give you a better answer.

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