Anyone Else in the Insurance Game?

[jtmoney2828]

Long story short, I left a direct seller and become a branch office of another company. I am completely independent minus the fact i pay a small percentage of my revenue to them for acces to their companies due to their volume.

I joined direct seller at 29 yrs old, left at 31, went independent and now am 36.

I read Mj's fastlane book at 34. Read and finished unscripted age 35.. and this year for my birthday at age 36 i got from my wife and young twins the newest book (i tried to buy it but was told just wait lol).

Does anyone have a interest or involved in the insurance game? When i was a direct seller i started at 1.2M sales (40K profit), built it to 2.7M sales (about 90K profit) but couldnt make it happen.

Going independent, my parent company told me if you do $5M in sales in5 years I will be surprised.

WELL, at end of year 4 our sales are $5,494,000.

Projected end of year 5 is $7.5M and i just hired an office manager and am down to 3 days a week.

of the 2 (and soon 3) books I read, I liked the last 10 pages of unscripted the best. I have bought 5 rental properties thru my corp and plan to keep growing this til I hit about $12M in sales I should be unscripted .. goal ... May 2026!

I retired my wife this year, now it's my turn

Will keep y'all posted

JT

 

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[Kevin88660]

Long story short, I left a direct seller and become a branch office of another company. I am completely independent minus the fact i pay a small percentage of my revenue to them for acces to their companies due to their volume.

I joined direct seller at 29 yrs old, left at 31, went independent and now am 36.

I read Mj's fastlane book at 34. Read and finished unscripted age 35.. and this year for my birthday at age 36 i got from my wife and young twins the newest book (i tried to buy it but was told just wait lol).

Does anyone have a interest or involved in the insurance game? When i was a direct seller i started at 1.2M sales (40K profit), built it to 2.7M sales (about 90K profit) but couldnt make it happen.

Going independent, my parent company told me if you do $5M in sales in5 years I will be surprised.

WELL, at end of year 4 our sales are $5,494,000.

Projected end of year 5 is $7.5M and i just hired an office manager and am down to 3 days a week.

of the 2 (and soon 3) books I read, I liked the last 10 pages of unscripted the best. I have bought 5 rental properties thru my corp and plan to keep growing this til I hit about $12M in sales I should be unscripted .. goal ... May 2026!

I retired my wife this year, now it's my turn

Will keep y'all posted

JT

Manulife has been kicking a$$ in singapore.

But I doubt if they can keep up with their projections.

I am in related space from mutual fund sales to commercial fleet motor insurance.

Hope to learn from you. Let us DM each other.

 

[SEBASTlAN]

I have a relative doing independent commercial insurance. It's a real grind from what I can see.

 

[Kevin88660]

I have a relative doing independent commercial insurance. It's a real grind from what I can see.

100 percent agree.

The grind is the barrier to entry.

 

[jtmoney2828]

100 percent agree.

The grind is the barrier to entry.

absolutely. i have a division of sales guys on 100% commission and they grind it and 4 in 5 don't make it .. the 1 that does though .. it fits the model though - renewals and residual income and every day they wake up a renewal has happened and money is in the bank

 

[jtmoney2828]

Manulife has been kicking a$$ in singapore.

But I doubt if they can keep up with their projections.

I am in related space from mutual fund sales to commercial fleet motor insurance.

Hope to learn from you. Let us DM each other.

Absolutely - sent you a DM - that is an amazing space to be in!

 

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[Kevin88660]

absolutely. i have a division of sales guys on 100% commission and they grind it and 4 in 5 don't make it .. the 1 that does though .. it fits the model though - renewals and residual income and every day they wake up a renewal has happened and money is in the bank

The insurance is the game of the last man standing. The prospects who rejected you before, will eventually become your customer, as his/her other advisers have left.

 

[jtmoney2828]

The insurance is the game of the last man standing. The prospects who rejected you before, will eventually become your customer, as his/her other advisers have left.

absolutely and in Canada here, 3 conglomerates are eating up the small brokerages, so it is consolidation central!

 

[lamplinkwhite]

its really amazing that you make out.I also in your path.thank you i will also follow your activity and path.

 

[jtmoney2828]

its really amazing that you make out.I also in your path.thank you i will also follow your activity and path.

what city/state are you in?

 

[JunT]

Long story short, I left a direct seller and become a branch office of another company. I am completely independent minus the fact i pay a small percentage of my revenue to them for acces to their companies due to their volume.

I joined direct seller at 29 yrs old, left at 31, went independent and now am 36.

I read Mj's fastlane book at 34. Read and finished unscripted age 35.. and this year for my birthday at age 36 i got from my wife and young twins the newest book (i tried to buy it but was told just wait lol).

Does anyone have a interest or involved in the insurance game? When i was a direct seller i started at 1.2M sales (40K profit), built it to 2.7M sales (about 90K profit) but couldnt make it happen.

Going independent, my parent company told me if you do $5M in sales in5 years I will be surprised.

WELL, at end of year 4 our sales are $5,494,000.

Projected end of year 5 is $7.5M and i just hired an office manager and am down to 3 days a week.

of the 2 (and soon 3) books I read, I liked the last 10 pages of unscripted the best. I have bought 5 rental properties thru my corp and plan to keep growing this til I hit about $12M in sales I should be unscripted .. goal ... May 2026!

I retired my wife this year, now it's my turn

Will keep y'all posted

JT

hi JT,

i‘m in the insurance (Bancassurance game also) curious to learn more about how you do it.

Jun

 

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[Kevin88660]

hi JT,

i‘m in the insurance (Bancassurance game also) curious to learn more about how you do it.

Jun

Banca is an excellent starting ground.

Collect the leads after 12-24 months and then start out on your own as agent with insurance companies directly.

Banca: fixed pay, sales bonus, ample free leads.

Insurance agent: high sales commission, little leads, you hunt what you eat. Can building recurring revenue for whole life.

Play the game well. Best of both world.

 

[JunT]

Banca is an excellent starting ground.

Collect the leads after 12-24 months and then start out on your own as agent with insurance companies directly.

Banca: fixed pay, sales bonus, ample free leads.

Insurance agent: high sales commission, little leads, you hunt what you eat. Can building recurring revenue for whole life.

Play the game well. Best of both world.

Hi there,

we note this one.

regards,
jun

 

[jtmoney2828]

hi JT,

i‘m in the insurance (Bancassurance game also) curious to learn more about how you do it.

Jun

i got your PM sorry for the delay here.

exactly what kevin said above AND be super accessible.
Insta/FB/optimized website - i spend $150/month on google adwords - thats it. Just have a great presense i type your name in i find you

 

[Kevin88660]

I think for insurance sales the impact of technology has been much more net positive than negative.

There was widespread fear back then sales representative will be made redundant. Online direct sales still accounts of 2-3 percent of the premium sold which means most insurance is being sold via a human.

The improve in automation means servicing capacity per agent has vastly increased. In the past 500 customer per agent was the average ceiling and once it goes higher you get too busy answering servicing calls. With the improvement in automation each agent can service a few thousand customers at ease.

 

[jtmoney2828]

well i wish i had more people in common here but I said this a few months ago

"Projected end of year 5 is $7.5M and i just hired an office manager and am down to 3 days a week."

We are at Year 4 Month 9 and just hit 7.3M so our new goal is 9M for end of 2024, so I am EXCITED to say that 7.3M should be blown OUT

how will we do this? hire another commission-producer. hire 1 office assistant to alleviate the day to day to grind so my sales team can focus on sales

 

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[Kevin88660]

well i wish i had more people in common here but I said this a few months ago

"Projected end of year 5 is $7.5M and i just hired an office manager and am down to 3 days a week."

We are at Year 4 Month 9 and just hit 7.3M so our new goal is 9M for end of 2024, so I am EXCITED to say that 7.3M should be blown OUT

how will we do this? hire another commission-producer. hire 1 office assistant to alleviate the day to day to grind so my sales team can focus on sales

What is the commission revenue on $7.5M premium sold?

Why don’t you move to sell life and health on existing base too? Same acquisition cost. More revenue.

I see specialization as unnecessary in our fields. Insurance providers in my place are trying to grab loan license to steal the business from banks.

What I learn in this field is that if you can spend money to get the result, never spend time. Sales and prospecting to acquire new business is a labor intensive trade.

If you can find over books of business for soon to retire older folks or partner with introducers with the entire first year commission as referral fee, I see it as the least path of resistance to growth.

I understand your model is different as you are already managing people and earning overriding commission as the model. Not easy to convince your sales guys that the best way to grow their business is hustle the whole first year and not making a dime.

 

[jtmoney2828]

Ok sorry I just went to mexico and read MJ on my R&R and realized I ghosted this forumMY BAD!

What is the commission revenue on $7.5M premium sold? - approx 900K

Why don’t you move to sell life and health on existing base too? Same acquisition cost. More revenue. Life and health - you are talking America, I am Canadian - people don't buy this in Canada - maybe a bit of Life,definitely not health.

I see specialization as unnecessary in our fields. Insurance providers in my place are trying to grab loan license to steal the business from banks. - Not sure what this means - again probably a USA/Canada thing

What I learn in this field is that if you can spend money to get the result, never spend time. Sales and prospecting to acquire new business is a labor intensive trade. - that is fair can agree to an EXTENT

If you can find over books of business for soon to retire older folks or partner with introducers with the entire first year commission as referral fee, I see it as the least path of resistance to growth. - agree on same page!

I understand your model is different as you are already managing people and earning overriding commission as the model. Not easy to convince your sales guys that the best way to grow their business is hustle the whole first year and not making a dime. - not sure how they don't make a dime. My top guy 2 years in is making 156K, and my lower end are still making 60+ ... so i would say there is a method here, again diffeent markets may be the differential

 

[jtmoney2828]

well i wish i had more people in common here but I said this a few months ago

"Projected end of year 5 is $7.5M and i just hired an office manager and am down to 3 days a week."

We are at Year 4 Month 9 and just hit 7.3M so our new goal is 9M for end of 2024, so I am EXCITED to say that 7.3M should be blown OUT

how will we do this? hire another commission-producer. hire 1 office assistant to alleviate the day to day to grind so my sales team can focus on sales

Follow Up on this post.

We hit $9M as of Jan 31, 2025, so ahead of the original goal, behind the other goal.. We hired an office-assistant and my guys should be able to sell more as they are expected to be out of the servicing.

Next goal - $12.5M end of 2025 and 1 more sales person, and turn my Part time (P/T) girl into F/T .. we will see!

 

[Kevin88660]

I am from Singapore. Life and health market is big here too.

Welcome your insight.

I do everything. Even investment. Jack of Trades in this space.

 

[Kevin88660]

Before the discussion evolves into an industry practitioners only discussion, if anyone interested to know more about insurance sales as a business?

Feel free to drop any question.

-How insurance agents are paid.
-How they acquire their customers
-Tied vs Brokers

……..

 

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[Goodfella999]

I do health insurance in the US. 5 years, over 3k clients.

 

[Kevin88660]

I do health insurance in the US. 5 years, over 3k clients.

3k that’s a lot.

How did you build that base?

 

[Goodfella999]

Lots of dialing leads that the owner bought. We have referral partners from US Health Group and people they couldnt help, they sent to us. I found a niche where nobody in my office wanted to work with poor people who needed obamacare so I was able to get most of them Free insurance and they referred me like crazy. It didnt pay much up front but over time it paid off.

 

[Kevin88660]

Lots of dialing leads that the owner bought. We have referral partners from US Health Group and people they couldnt help, they sent to us. I found a niche where nobody in my office wanted to work with poor people who needed obamacare so I was able to get most of them Free insurance and they referred me like crazy. It didnt pay much up front but over time it paid off.

Your recurring book of business must be insanely good!

Yearly renewal commission is a wonderful thing is this line.

 

[Goodfella999]

Your recurring book of business must be insanely good!

Yearly renewal commission is a wonderful thing is this line.

Yes im very lucky that I dont have to work as hard anymore and can enjoy a lot of my days. I also know that being self employed is different than being a true business owner with employees working to make you profitable as well so im using the money I made from insurance for other business ventures. My goal is to be truly fastlane.

 

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[Kevin88660]

Yes im very lucky that I dont have to work as hard anymore and can enjoy a lot of my days. I also know that being self employed is different than being a true business owner with employees working to make you profitable as well so im using the money I made from

insurance for other business ventures. My goal is to be truly fastlane.

What are the other things you are pursuing now?

I used to do other things and projects but now refocusing back to insurance sales because it is growing fast now and I cannot handle doing so much.

I start with health and general insurance to build clients base but I cross-sell life and investment products. Occasionally I do commercial and business insurance.

I tried the recruitment route, but youngsters today, Gen Z are too fickle, sorry to say. Tired of spending money on Linkedin only to find people who say they are interested but end up ghosting later.

2025 I am focusing on servicing and selling to my existing clients only.

 

[Goodfella999]

What are the other things you are pursuing now?

I used to do other things and projects but now refocusing back to insurance sales because it is growing fast now and I cannot handle doing so much.

I start with health and general insurance to build clients base but I cross-sell life and investment products. Occasionally I do commercial and business insurance.

I tried the recruitment route, but youngsters today, Gen Z are too fickle, sorry to say. Tired of spending money on Linkedin only to find people who say they are interested but end up ghosting later.

2025 I am focusing on servicing and selling to my existing clients only.

I own 3 real estate properties and Im renting 2 currently. I also am invested in a real estate syndication on a 200 Unit apartment complex. I tried ecommerce in 2018 and failed at it but I learned a lot in the process so I will try again.

 

[jtmoney2828]

I own 3 real estate properties and Im renting 2 currently. I also am invested in a real estate syndication on a 200 Unit apartment complex. I tried ecommerce in 2018 and failed at it but I learned a lot in the process so I will try again.

love this. we own 5 rentals and the idea is to take our retained earnings and reinvest them into corporately owned rentals moving forward.

renewals are the god of this space, there is no doubt

direct sellers send me so many leads as they cant close anything

 

[Kevin88660]

love this. we own 5 rentals and the idea is to take our retained earnings and reinvest them into corporately owned rentals moving forward.

renewals are the god of this space, there is no doubt

direct sellers send me so many leads as they cant close anything

I reinvest into dividend-paying funds because I get the sales commission and bonus incentives from buying it.

In Singapore here, the bar for apartments as the investment is a bit too high. Even a studio apartment is north of a million. I can get a loan and get the rental to cover the mortgage but the rental yield is at best 3%.