Testimonials

Captive Agent Vs. Independent Agent



Captive Agent commission structure breakdown at a 60% contract

Are you a captive agent with a low 60% to 80% contract?

Are you fully vested from day one with no minimum vesting requirements?

If your insurance company owes you just a $50 renewal/residual will you still be paid $50 with your company even if you are vested?

Do you have to wait 2 to 10 years before you are fully vested?

Here is the truth as to why you are not making any money. You might want to look at your contract right now!

Does your contract pay you?

60% advance for checking accounts

40% advance for modified clients or clients over the age of 80 years old

20% no advance paid as earned for direct bill, money orders, credit cards or direct express

Example:

10,000 Annual Premium @ 60% contract = 6,000 in commission

  • Lead debt at $36 to $45 per lead with a 20% close ratio for new agents
  • Half of your policies are modified or graded
  • Half of your policies are direct bill, money orders, credit cards, and direct express cards
  • Clients are canceling on you because of your high prices or brokers are selling your clients cheaper insurance products with free funeral planning like finalexpenseadvice.org that will result in chargebacks

20 leads at $36+ a piece = -$720 in lead debt
80 leads at $36+ a piece = -$2,880 in lead debt

  • 10,000 in Annual Premium @ a 60% advance for checking accounts
  • $6,000 in commission, if all policies are checking account business
  • -$2,400 for 80 leads for the month
  • $2,000 or $3,000 are modified or graded annual premium at 40% commission
  • Rapid Chargebacks
  • No advances for direct bill, money orders, credit cards, and no direct express cards

Total commission is around $1,600 to $2,600 minus additional expenses with gas, car wear, and tear 

Captive Managers are making huge overrides while you are stuck in a 60% contract with lead debt

Imagine becoming an independent agent starting with a 100% contract and make the same day advances all ages and payment methods.

Independent Agents Commission at a 100% contract with free funeral planning membership

  • 10,000 Annual Premiums
  • $10,000 in commission. All payment methods accepted for advance commissions
  • $18 fresh Medicare Advantage and Life Insurance direct mail leads in zip codes 
  • -$1,440 for 80 fresh non-recycled life insurance and Medicare Advantage requested direct mail leads
  • To watch the FEPSA video on the benefits, please click here
  • Divine’s has created a Church Endowment Program for DIG agents – http://churchendowmentprogram.com/
  • Divine’s mission has always been to give back to our community with free funeral planning and college scholarships

Total commission is $8,560 with no lead debt

You do the math on who has the better opportunity

Is your 1099 telling you the truth?

Have you checked your bank account and added up what was actually deposited…
What are you worth an hour?

Did you even bring home $50,000.00 in your pocket?

Let’s break it down:

The average charge back for an over priced final expense insurance product is about 20% of your gross sales on a monthly average

$100,000.00 gross commission X 20% in chargebacks = $20,000.00
That leaves you with $80,000.00 

You paid for leads that are $34.00 (20 leads a week)

$34.00 x 20= $680.00 lead debt
$680.00 x 52 weeks = $35,360.00 for leads debt a year

$80,000.00 – $35,360.00= $44,640.00
Now lets take $44,640.00/2080 = $21.46 per hour

The average life insurance agent works 12 hours days 5 to 6 days a week.
If you worked 5 days x 12 hours = 60
60 hours x 52 weeks = 3120 yearly

Here’s the kicker …watch this $44,640.00/3120= $14.31 per hour

If you worked 5 days x 16 hours = 80
80 hours x 52 weeks = 4160 yearly

Here’s the kicker again…watch this $44,640.00/4160= $10.73 per hour

3,120 is how many hours you work a year working 60 hours a week?

4,160 is how many hours you work a year working 80 hours a week?

How many hours do you actually work in a week’s time? 60 or 80 hours?

Have you checked your bank account to see what was actually deposited?

If you haven’t made $100,000 net deposited into your checking account in 2015, you need to consider joining Divine Insurance Group.

Why Join Divine Insurance Group?

Common Sense

Agent Independence, Not Agent Captivity: The most-disadvantaged final expense burial insurance agents are the captive agents that generally sell the most overpriced products, pay the most for their recycled leads, gross the least commissions and have products that are the most commonly replaced.

Generally speaking, the agency managers are getting rich while you slave in the field.

Are you tired of your manager telling you that you have to struggle thru car repossessions, shut off notices and home evictions before you are successful?

Are you tired of all the Scare Tactics from your manager persuading you not to leave and stay in a little longer for them to make more from you in overrides?

Ask your manager if they have a standard agency model business plan or agency guidelines to increase commission levels at a reasonable minimum production? Can you go as high as a 130% contract or are you capped at an 80% contract? Ask your manager what is their monthly lead debt and what is their monthly chargeback percentage?

When will you tell your manager “it’s not my mindset it’s the market, most seniors are on a fixed income and they know a good deal when they see one”. And all insurance policies pay out non-contestable death claims in 24 hours after claim approval, which include the original copy of the policy and a faxed copy of the certified death certificate. Most agents don’t understand the entire process of getting a certified death certificate. A medical examiner has to approve the cause of death, then the medical examiner or funeral director will send that communication to the state and the state will issue a certified death certificate. That whole process could take up to 30 days.

The lead competitor is a final expense carrier you regularly see advertised on television.

$15,000 of Permanent Whole Life Death Benefit Funeral/Burial Plans – Rates for Non-Smokers –(*rates include COPD, CHF, Lupus, HEP C, Sickle Cell, Type 1 Insulin Dependent Diabetes and Mental Disorders) ** First Day / Same Day Coverage

Carrier Female Age 55 Male Age 55 Female Age 65 Male Age 65 Female Age 75 Male Age 75
DIG Carrier A $22.14 $24.84 $44.27 $58.05 $58.16 $89.13
DIG Carrier B $37.30 $45.57 $54.75 $73.07 $92.67 $134.54
DIG Carrier C $41.00 $51.04 $59.91 $82.04 $107.01 $147.69
DIG Carrier D $41.90 $52.10 $60.65 $83.00 $107.45 $148.25
DIG Carrier E $41.03 $52.68 $61.28 $77.50 $106.89 $143.75
DIG Carrier F $42.01 $51.51 $63.13 $81.68 $110.56 $149.07
DIG Carrier G $46.94 $54.70 $68.45 $86.70 $113.20 $150.85
*DIG Carrier H **$45.05 **$53.27 **$68.71 **$88.56 **$119.49 **$161.31
DIG Carrier I $45.90 $56.70 $68.85 $87.75 $118.80 $153.90
Lead Competitor $52.86 $65.61 $80.91 $96.21 $143.31 $175.26

$15,000 of Permanent Whole Life Return of Premium or Modified Death Benefit Funeral/Burial Plans – Rates

Carrier Female Age 55 Male Age 55 Female Age 65 Male Age 65 Female Age 75 Male Age 75
DIG Carrier A $53.31 $68.70 $82.73 $101.98 $134.98 $186.54
Lead Competitor $117.90 $145.49 $142.94 $182.70 $194.85 $255.90

$15,000 20-Pay Permanent Whole Life Death Rates for Non-Smokers (*rates include COPD, CHF, Lupus, HEP C, Sickle Cell, Type 1 Insulin Dependent Diabetes and Mental Disorders)

Carrier Female Age 55 Male Age 55 Female Age 65 Male Age 65 Female Age 75 Male Age 75
DIG Carrier A $40.82 $47.09 $51.44 $63.45 $61.21 $90.56
DIG Carrier B $41.22 $48.28 $52.20 $64.41 $78.42 $98.06
DIG Carrier C **$52.66 **$62.22 N/A N/A N/A N/A
Lead Competitor $65.55 $82.80 $105.60 $105.00 $152.85 $189.60

$15,000 10-Pay Permanent Whole Life Death Rates for Non-Smokers (*rates include COPD, CHF, Lupus, HEP C, Sickle Cell, Type 1 Insulin Dependent Diabetes and Mental Disorders)

Carrier Female Age 55 Male Age 55 Female Age 65 Male Age 65 Female Age 75 Male Age 75
DIG Carrier A $71.53 $83.13 $100.27 $119.85 N/A N/A
DIG Carrier B $85.75 $99.76 $111.85 $135.92 $189.19 $155.16
DIG Carrier C **$159.00 **$118.87 **$132.19 **$167.55 **$240.32 **$188.49

All DIG polices will have a free funeral planning service with a Final Expense Planning Specialist

To watch the FEPSA video on the benefits, please click here

Let F.E.A.R go, trust God first, believe in your immediate family and stay true to yourself

Don’t let ignorant past failures of managers dictate how you move forward

Stop glorifying poverty, get off those annoying am calls, get rid of the favoritism, let the agency drama go

Many so-called six-figure income ring earners already left the business

Do right by your community and offer affordable coverage

Don’t make an emotional decision but an intelligent decision to exit your captive agency

What is a-1099 if there is no retirement plan in place?

You can’t retire on commissions or residuals because clients will change an overpriced final expense policy and clients can’t live forever

If your money doesn’t make money then what is your plan B? Please visit http://www.divineinsurancegroup.com/retirement-plans/ to learn more about financial literacy and retirement

Helping modified clients get first-day coverage and helping clients save money in our community on a fixed income is not a crime

Learn true time and financial freedom – Are you following your dreams or just making your manager overrides?

Attend our life insurance boot camp training

Set up appointments with your lapsed clients. Help your clients who are under 55 years of age or who have HIV, CHF, Lupus, Hep C, Lupus, Sickle Cell Anemia or COPD. You may be in a position to help them achieve first-day coverage

Please send us your resume to info@divineinsurancegroup.com and one of our recruiters will contact you. It’s time for the agent to make money!

Galatians 5:1

King James Version (KJV)

Stand fast therefore in the liberty wherewith Christ hath made us free, and be not entangled again with the yoke of bondage.

 

November 9th, 2018 by Divine Insurance Group