I am so confused about the possibility of paying the insurance company commission back I didn’t know this was a thing which in of itself is terrifying me Can someone please clarify ? So if someone doesn’t keep their policy I have to pay the insurance carrier back the commission? I’m sure people cancel their policies all the time 😢
Insurance companies give an advance on commissions, assuming the client will continue to pay premiums for multiple years. Chargebacks occur when agents get paid an advanced commission, but the client stops paying their premiums, and the agent has to return the money. Chargebacks are not fun, and it's not the agent's money until the client pays the premiums for the entire period the advance was given. We did a podcast going into more detail on what a chargeback is and how to avoid getting them. Check out the video here: th-cam.com/video/qeHlI8qDgTo/w-d-xo.html
Hello there I completely see how difficult it is to find quality life insurance website/leads who needs life insurance policy; we all are aware of this. I now have a lead generation funnel that is fully automated, Facebook ads is used and capable of generating over 30 leads each week. I only need 30 life insurance agents to help generate quality life insurance leads that needs a life insurance policy. Kindly message me now or leave a comment below
At the end of the year you will pay taxes on everything you earned for that year. Not just what you put into the tax account from salary. Wouldn’t it be better to tax the commission you make and pay yourself the full $1000 salary? Just wondering. I have never seen it broke down like this. Good idea👍
If you putting 70 percent in your personal checking and 30 percent going to your tax savings account then you won't have any money in your business checking account. How will 10k be accumulated if you are splitting 100 percent into your personal checking and your tax savings? Am I missing something?
In this example, the 70/30 split was coming from the $1000/wk salary we allotted for ourselves, not the total sales we are bringing in. Any revenue over that $1000 will stay in our business checking account.
Great video!
Thank you for sharing
This video came right on time 😁 Thank you!
I'll be setting up the four bank accounts here by the end of the month. I'm excited to now know where the budget comes from to sustain properly flow.
Thank you so much for this video!
holy steak sauce! this is such a cool concept thanks!!! will def be using this salary idea
This is a super video. Business & cash flow elements, from an agents perspective, are not discussed at all on yt . Thx for doing it!
Glad it was helpful!
You delivered the right message at the right time for a multitude of agents!! Thank You.
Great info
This is very important
Great advice
Awesome Video
I am so confused about the possibility of paying the insurance company commission back
I didn’t know this was a thing which in of itself is terrifying me
Can someone please clarify ?
So if someone doesn’t keep their policy I have to pay the insurance carrier back the commission? I’m sure people cancel their policies all the time 😢
Insurance companies give an advance on commissions, assuming the client will continue to pay premiums for multiple years. Chargebacks occur when agents get paid an advanced commission, but the client stops paying their premiums, and the agent has to return the money. Chargebacks are not fun, and it's not the agent's money until the client pays the premiums for the entire period the advance was given.
We did a podcast going into more detail on what a chargeback is and how to avoid getting them. Check out the video here: th-cam.com/video/qeHlI8qDgTo/w-d-xo.html
Hello there
I completely see how difficult it is to find quality life insurance website/leads who needs life insurance policy; we all are aware of this.
I now have a lead generation funnel that is fully automated, Facebook ads is used and capable of generating over 30 leads each week.
I only need 30 life insurance agents to help generate quality life insurance leads that needs a life insurance policy.
Kindly message me now or leave a comment below
Thanks
At the end of the year you will pay taxes on everything you earned for that year. Not just what you put into the tax account from salary. Wouldn’t it be better to tax the commission you make and pay yourself the full $1000 salary? Just wondering. I have never seen it broke down like this. Good idea👍
If you putting 70 percent in your personal checking and 30 percent going to your tax savings account then you won't have any money in your business checking account. How will 10k be accumulated if you are splitting 100 percent into your personal checking and your tax savings? Am I missing something?
In this example, the 70/30 split was coming from the $1000/wk salary we allotted for ourselves, not the total sales we are bringing in. Any revenue over that $1000 will stay in our business checking account.
🎉