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    How Much Commission Value is a Client Worth?

    September 19, 2024
    In the insurance industry, understanding a client's insurance needs extends far beyond the initial policy purchase. For an agent, understanding the client’s needs can impact commissions. The value of the commissions is not limited to the initial policy purchase and includes the cumulative value of ongoing commissions, the potential for selling additional products, and the invaluable benefits of client referrals. Let’s explore both the tangible and intangible values that clients contribute to your business, starting with a simple example of calculating commissions.
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    Give Yourself a Raise

    December 12, 2019
    Everyone likes getting a raise, right? The problem is, business owners tend not to think of the money they make in the same way an employee does. Employees trade time for a paycheck and measure their earnings in terms of rate of pay – the wage they earn per hour or the salary they earn per year. Business owners, on the other hand, invest their time, money, and energy into the business in hopes of earning a profit. The harder they work, the more they can earn – at least that’s the goal.
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    How much is a client worth?

    November 16, 2018
    Some larger firms that focus primarily on employee benefits will only work with clients that meet a minimum group size or annual revenue amount. Other brokers will spend hours with an individual client knowing that the commission they’ll receive will never fully compensate them for their time. Most brokers are somewhere in-between—they’ll accept most customers who want to do business with them, but they try to make a profit off every client.
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    4 Great Reasons to Help People (even if you won’t receive commission)

    April 9, 2018
    We all work for a paycheck, and most of us can’t afford to do a lot of pro-bono work. That said, there can be some real benefits to helping people even when you won’t be paid for the sale. Below are just a few examples, and all point to the fact that when you focus on taking care of the client, the money will take care of itself.
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    Here’s a Great Way to Supplement Your Commissions

    July 5, 2016
    When consumers buy less coverage, the cost of that coverage is supposed to go down. But that’s not what’s happened in recent years. Deductibles and out-of-pocket costs are higher than ever before, and so are monthly premiums—for millions of Americans, the new ACA plans really aren’t all that affordable.
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    What’s going on with commissions?

    December 8, 2015
    In what seems like a strange move to most brokers, some carriers have stopped paying commissions on their most desirable plans, those with larger provider networks and out-of-network options. Why in the world would they do this? Do they not value the agent anymore?
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