 How does insurance exactly work? |
| Ok, you have a bill, the bill is more than what you put into insurance, say you just started the first year and only paid $500, and that bill is $1000. Insurance just pays for it all even though you ... |
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 Travel insurance policy start date? |
| The travel insurance i want to buy includes cancellation cover. Do i put the policy start date as the start of my holiday? because if i do that am i covered from now if i have to cancel? =/ sorry im 1... |
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 How long after giving up smoking before being in the clear? |
| I used to smoke and my insurance premiums are based on my being a smoker. However, now that I have given up, I want to be re-assessed on the basis of being a non-smoker. How how before insurance ... |
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 Can we file insurance claim when selling the house? |
| We are selling our house. The inspector found some hail damage and requested the roof to be replaced. My home insurances covers hail and wind damage, but would they pay for if we are in the process ... |
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 Insurance policies are always for 12 months. Why? |
| just wondering why all insurance policies seem to be for 12 months. Is there any reason why insurance companies don't have eg 18 month policies. Or why not just rolling monthly policies? Are ... |
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 HMO deductible for emergency room visit ? |
| The deductible for emergency room visits according to my HMO plan is $100. Even though I was only there for two hours I subsequently got three different bills in the mail. One from a lab for a ... |
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 Should Health Care in California be a right? |
| The Health Care system in the United States is a huge issue that is being ignored every day. Every year the cost of health care goes up and up and because of that the the middle and lower classes are ... |
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 Insurance Part II: Is it better to purchase insurance or to insure myself??? |
| Witnessing the treatment clients in the Gulf Cost are getting from the insurance companies … I was wondering if Insuring myself <Paying myself premiums into my own controlled account> would ... |
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 Governing body for travel insurers? |
| Is there a governing body/association specifically for for insurance companies, specifically relating to travel insurance policies?... |
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 Wat is the average cost of medical malpractice insurance for the small business in new york, or across the US? |
Additional Details
What is the average price of medical malpratice insurance if i want to insure my (small business) office in New York?... |
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 Question for anyone that knows about insurance? |
| I am renting a garage that is not attached to the house and want to insure it. Would this be covered by the house insurance or would you need separate contents insurance as its not near the house. If ... |
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 Do you have to buy comprehensive insurance when you are financing a car? |
| i used to lease a car and they forced me to buy comprehensive. is it the same for ... |
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houston taylor | Selling life insurance question.? |
I have been having interviews for a life insurance company. My uncle advised me NOT to do it, because it's kind of a screwy business and you can get yourself into financial trouble doing it. What he meant is, say they give you a year's salary on training. My uncle said that if you quit, or something didn't work out, you would have to pay them back what they paid you. Has anyone ever heard of this? Thanks. |
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Mark S
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He seems to be speaking about commissions. To a point he is correct. When you write a policy, your company will "pay" you a commission on the policy. If your policy is rejected after you get paid, you get fired, or you quit, and you had received a commission, then yes you will have to pay this back. It does show up on a credit report if it isn't taken care of right away. Been there done that. This is called a charge back and will be a common, but too common, over the length of your career. Hope this helps and best of luck |
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Insurance Biz CT
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My opinion is that a "salary" is not repayable, but a "draw" may be. This question should be answered by your prospective employer. I think it is an appropriate question to ask, and should be answered satisfactorily in order for you to make a good decision regarding your employment. |
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aaron p
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There are a lot of different agent contracts out there. Ask the person you are interviewing with this question. If there is something that is unsettling, ask if they offer different agent contracts. I know New York Life has at least two different career contracts now (I am not a career agent). When I started out, I was paid what amounts to 120% for the first three months to get kick-started, then the subsidy decreased slowly over a two-year period of time. I have seen people on the draw system as mentioned in other posts too.
It's a tough business. Good luck regardless of your decision. |
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CSUflyer
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Not in a normal employer-employer relationship but I suppose just about anything could be agreed too. If you are an employee rather than a contractor than this shouldn't be a problem unless you sign or agree to something otherwise.
There is definitely opportunity to make some money but some of the best money is from selling products that I, personally, would ethically have a hard time pushing because of their extremely poor value to the client. |
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mbrcatz
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Well, they don't give you that much salary. They'll give you a DRAW, against future commissions, and if you don't produce, they'll give you the boot pretty quickly. Most of the time, you need to be up and running within two months, producing enough business to at least cover your draw or they let you go.
Usually they pay for your training and licensing, and if you don't produce enough to cover those costs, or quit right after training & licensing, you do have to pay them that back.
If you don't have any sales experience, living off straight commission of your own sales, I would NOT start out in life insurance. |
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