JR asked:
Meaning, If you are first starting out in the insurance business(no history), how do you get the commission level of the independent agents? Do you just have to sell a certain amount of insurance or annuities, like 1 million worth, then you are pushed to the independent agent status, or is it that you have to have umpteen years of experience selling a certian amount of insurance before they would consider you for the indepedent agent status.
Also, I heard that there were these companies, like FSD Financial Services, they let normal agents sign up and I guess if you go throught them (which seems like a middle man between them and the actual insurance companies) you can get the independent agent status and commission levels right away. Its like there a big company with EX: New YOrk life and they (FSD) automatically gets the bigger commission becasue of their status with the company, so that means any of their agents get the same bigger commission.Then Maybe agent pays FSD small fee.
OK, If an independent agent means you can work for multiple companies. Then does that mean you get that higher commission. What i mean is normal indepent agents get 90% commission of insurance and 5-10% on annuities right?, but regular agents (who i assume work just for one company ex: new york life) only get like 55% on insurance and 3-5% of annuities. What makes an agent get those HIGHER commission levels?