Don’t Miss Out on Crucial Insurance Networking Opportunities!
I’d like to start by saying that I’ve always been intrigued by the concept of Insurance Networking. To be more specific Multi-Level Marketing (MLM). In my earlier years of studying some of the more popular MLM programs on the market, I was always impressed with the compensation plans and the opportunity. I was never impressed with the pricing mark-ups on the products to the consumer. Even though the purchasers of the products were primarily made up of the business owners themselves. It just seemed like some tough hurdles to jump over, convincing others to purchase products for 30%-40% more in price than what they could walk into their local Grocery or Walmart store and purchase them for. The business model was, if you purchased the products from yourself and could convince many others to do the same, you would generate enough income eventually to offset the higher price on the products you were purchasing. You would then continue this process in hopes of generating enough income to quit your current job and at some point make all your financial dreams come true!
Given my passion and interest in insurance networking and network marketing compensation plans, I decided to explore the insurance networking opportunity market and develop an insurance network marketing opportunity for agents using the same great products insurance agents have been selling to their customers for years. With insurance products there would be no need to mark up the price of the products any further to the consumer to fund the compensation plan. The insurance companies have already built into the compensation enough to cover the Insurance Marketing Agencies (MGA’s/FMO’s/IMO’s) marketing expense. The key was utilizing the marketing dollars in a more effective and efficient way.
The beautiful thing about an insurance network marketing compensation plan is that members of the MLM are paid for recruiting and sponsoring additional members to sell the products. In the case of insurance sales, member agents would recruit and sponsor other licensed insurance agents. This income is in addition to what they make selling the products themselves. In a more traditional model the Marketing Insurance Agency does all the recruiting and sponsoring of new insurance agents themselves rather than networking through their currently licensed agents.
In the insurance networking and MLM model member agents have many distinct advantages. They can significantly increase their income through sponsoring other agents. Their sponsored agents all earn the same levels of commissions as the sponsoring agent. No one is locked into a lower commission level because they signed up or was sponsored by someone else. This can be a real problem in traditional hierarchy systems. General Agents are constantly losing agents that go on to become General Agents themselves.
The financial incentives are inherent within the upline sponsoring agents as well as the insurance marketing agency to provide all the support and service the newly sponsored agents need to succeed. Because the member agents take on most of the marketing and recruiting responsibilities, this allows the insurance marketing agency to focus more time on new agent contracting, product and sales training, etc.
I was never taught the power of “Leverage” when I started in the Insurance business. Leveraging your time and income from the efforts of others is a very power means to generating the kind of income most insurance agents only dream of. Whether you’re getting paid by the hour or working on commissioned sales, your hours per week are limited! Insurance Networking, however, has the distinct ability to accomplish this type of leverage. Many have discovered this powerful secret and have used it to become financially free and live their dreams!
When you have this type of compensation system… Helping others succeed will certainly insure your success!
Thank you and make it a great career,
-Daniel B. Hagy
President of National Marketing Group Inc.