Types of Agencies
So you’ve decided to take control of your income and you want to be an independent Agent? Now you need to find the right Insurance Agency or Insurance Marketing Organization (IMO). What if you could have your cake and eat it too? Which is the right one for you? Are all Agencies or IMOs the same? Well No is the simple answer.
Type I - Very Little Help, A lot of Pay
No mentoring or sales training. Help is basically non-existent if you have a question about a product or how to handle a client issue. However in exchange for very little help - you'll get a high contract commission rate with agencies or IMO's. It's not unheard-of to get 100% or more with these groups. There may an occasional meeting or sales call once per week if you're lucky. You'll be competing for a managers time if they're still producing managers or they will be out of touch most of the time. If you're an experienced agent not requiring much assistance with products or services and choose this model due to no administrative work required - then this is your best option.
Type II - Too much Help, Not Enough Pay
A Captive agency setup with a multiple carrier model. That is how these agencies and IMO's operate. Too much administrative and daily/weekly meetings with very low compensation rates ranging from 50% to 80%. In addition, as an agent within this model your busy team building with a lot of newbies in the business. If you're interested in a starting out slowly in the business, and not to concerned with your compensation rate, and would like to get all the knowledge you want about the industry at meetings - then this model is for you.
Type III - The Balanced Approach
At Networth Life we understand what agents want and what they need in order to be successful in the insurance industry. Our agency has partnered with a leading insurance marketing organization to offer first-class training, agent resources and industry knowledge.
Our sales team has seasoned, veteran agents who have a proven successful track record of selling life insurance, who are ready to mentor and train those agents which are ready to commit to earning commission rates starting at 80% or more with solid performance production.
Training calls and video recordings are provided to our agents to better hone your selling skills and techniques so you can become the best agent you know. Our producers share their insight and knowledge, discussing sales tips and techniques for how to offer certain products. We utilize Group Chat where all of our agents communicate with one another sharing ideas, tips and tricks, and being part of a group of like-minded independent agents. If you're looking to excel as a top agent - then this model is for you.
Our sales team has seasoned, veteran agents who have a proven successful track record of selling life insurance, who are ready to mentor and train those agents which are ready to commit to earning commission rates starting at 80% or more with solid performance production.
Training calls and video recordings are provided to our agents to better hone your selling skills and techniques so you can become the best agent you know. Our producers share their insight and knowledge, discussing sales tips and techniques for how to offer certain products. We utilize Group Chat where all of our agents communicate with one another sharing ideas, tips and tricks, and being part of a group of like-minded independent agents. If you're looking to excel as a top agent - then this model is for you.