FAQ

  • When do I get paid after selling a policy?

    Most carriers pay within 24-72 hours of policy approval and first premium draft if you’re on an advance.

  • Do I get paid renewals?

    Depends on the product. Short answer yes.

  • What does “advance” mean in commissions?

    Instead of getting paid monthly as the client pays, most carriers give you 75% of your first-year commission upfront, and the remaining 25% is paid out months 10-12.

  • What happens if a client cancels their policy?

    If a client cancels within the first year , the carrier takes back the unearned portion of your commission

    • Example: You sell a $100/month policy with a 75% advance ($900 upfront).

    • If the client cancels after 3 months, you’ve earned $225, but you owe back $675.

    Some carriers and products have their own specific policy you can always check with them directly.

  • How do I avoid chargebacks?

    Sell the right way. The way we teach. Out agency cancellation rate across 200+ agents is just 8%

    Make sure the client understands the policy and the payment, and is ABSOLUTELY comfortable with that payment, if it sounds like a stretch, it probably is .

    Make sure you are also lining up draft dates with days that make sense. For example: Social security/Disability 1st or 3rd or 2nd/3rd/4th Wednesday

    Reach out to client few days before draft as well as a reminder that the payment is coming up.

  • What is a contract level?

    Your contract level is the percentage of the first-year premium you earn as commission.

    • 100% contract → If the annual premium is $1,200, you get $1,200 commission.

    • 70% contract → You’d get $840 commission instead.

    Can I increase my contract level? Yes, it’s based on production and persistency.

  • What’s a good closing ratio?

    Based on lead type:

    • Cold leads → 3-7%

    • Warm leads → 10-30%

    • Referrals → 50%+

  • Can I sell in multiple states?

    Yes, but you need a non-resident license for each state. Apply through NIPR.com.

  • Do I need E&O insurance?

    Yes, most carriers require it. Covers you in case a client claims you misrepresented a policy.

  • How do I survive my first 90 days?

    Call more people, go back and listen to your calls, attend live dialing , attend call reviews , get deeply involved, attend training sessions, the more you put into it the longer you can expect to stay in the game. Most new agents fail because they don’t talk to enough people or they don’t put any effort into running their business . It’s a numbers game, and here you are provided free leads, so take full advantage of basically an infinite amount of people to talk to.

  • What health conditions cause a decline?

    Depends on the carrier and product type. General rule of thumb is that for term policies you’re asking about how their health has been for the last 10 years, if it’s a long list of stuff, most likely decline.

    Final expense: Your asking about their health in the last 2 years, and from your carrier guide you should know where to place them to avoid a decline.

  • What’s the #1 mistake new agents make?

    Not taking action fast enough. They get stuck in “learning mode” instead of actually selling. You can only train for so long, but nothing is going to be better than getting into the line of fire. How do I build long-term success?

    Stay consistent, master the sales process, and focus on keeping clients. The agents making $250K+ did the boring work every day. Most importantly, you are running a business and you need to treat it like one. Stay consistent, stay organized, stay on top of things