Let me start by saying that the idea of insurance networking has always intrigued me. To be specific, Multi-Level Marketing (MLM). When I first started studying MLM programs, I was impressed by the opportunities and the compensation plans. I wasn’t impressed by the price mark-ups for the products. Even though the majority of purchasers were business owners, it was still a problem. The idea of convincing other people to buy products at a 30%-40% higher price than they could in their local Grocery store or Walmart seemed daunting. It was a business model that if you bought the products yourself and were able to convince others to do so, you would eventually generate enough income to offset the higher prices. This would allow you to continue the process with the hope of eventually generating enough income that you could quit your job and make your financial dreams come true.
My passion for insurance networking and network marketing compensation plans led me to develop an insurance network marketing opportunity that would allow agents to use the same products that insurance agents sell to their customers. Insurance products would not require the insurance company to increase the product price to pay for the compensation plan. Insurance companies already have enough money in their compensation to cover marketing expenses for Insurance Marketing Agencies (MGA/FMO/IMO). It was about using marketing dollars more effectively and efficiently.
A network marketing compensation plan for insurance companies is unique in that members are compensated for recruiting and sponsoring other members to sell their products. For insurance sales, members would sponsor and recruit other licensed agents. This income comes in addition to the sales of products. The Marketing Insurance Agency, in a more traditional model, recruits and sponsors new agents rather than only networking with their current licensed agents.
Members agents enjoy many advantages in the MLM and insurance networking model. Sponsoring agents can help them increase their income. All of their sponsored agents earn the same commission levels as the sponsoring agent. Because they were sponsored or signed up, no one is locked in to a lower level of commission. This is a problem in traditional hierarchy systems. General Agents lose agents all the time, and eventually become General Agents.
Both the upline sponsoring agents and the insurance agency offer financial incentives to help new agents succeed. The member agents handle most of the recruiting and marketing responsibilities. This allows the insurance agency to spend more time with new agent contracts, product and sales training, and so on.
When I first started my career in the Insurance industry, I wasn’t taught how to leverage. It is possible to generate the kind of income that most insurance agents dream of by leveraging your time and earning income from others. Your hours are very limited, regardless of whether you get paid hourly or commission-based sales. Insurance Networking has the unique ability to achieve this level of leverage. This powerful secret has been used by many to achieve financial freedom and the life they desire.
This type of compensation system will help you succeed. Your success will be assured if you help others succeed!
We are grateful and it will be a great career.
-Daniel B. Hagy
President, National Marketing Group Inc.