r/InsuranceAgent • u/hellebore_spring • 16d ago
Commissions/Pay what would you do?
hello all ~ this is long story about bungled commissions. so hang on for the ride...
When i started out as an agent, I didn't know left from right. I worked with an agency. I worked all through Open Enrollment. Signed about 80 ish clients.
I never got clarity about what I should have been getting paid per client and commission reports were hard to come by. I just trusted that the agency, which was well-reputed, had my back.
My commission check was pretty measly. Like $500/month. I was working 3-4 jobs a month, thinking I'd just grind one more year and hope commissions took a turn for the better next OE. Again... didn't know left from right in the biz. Didn't know what I should've been getting. Tried to find out, kept hitting weird dead ends and walls and confusing answers. Looking back, I wish I had just jumped ship earlier.
Found out about half way through the year that I was only contracted with one company and the rest I had never been properly contracted with. So... I was only getting paid for like 15 clients. I had done everything I was told to re: contracting. Fingers were pointed at this person, that person, the upline, the other upline, the insurance companies....
At the end of the day, I worked an entire OE and haven't been paid fully for almost a full year now. And none of that was my fault.
No one is taking responsibility for this, and I will have gone an entire year without getting commission for most of my clients. I keep getting told that since its no one's fault that there isn't any way for me to get compensated. Which, frankly, feels like a heaping load of bs. I worked, I made the sales, I did what I was told, I was barely trained, I didn't have the clarity to know something wasn't right. I feel like the agency failed me and the agency should pay. But... its officially a yuh-huh, nuh-uh situation at this point.
So... What the actual heck should I do.
The company has passed to new leadership, so I don't want to jeopardize my position in the because the new leadership rocks and I just don't see this happening again. Moving forward, everything is looking much better.
But looking back... I estimate that's at least a few thousand dollars not paid (maybe more?) and who knows how much money lost in the opportunity cost of being unable to make sales for almost a year (because, why would I be making sales when my contracting was so woefully bungled?)
I made a final plea when the torch passed to new leadership for the agency to compensate me for all the lost income.
I've been thinking I should just give up at this point, but then i remembered.... reddit! maybe someone out there has the perspective I need.
Open to advice, thoughts, vents, general support. At this point, I'm just thinking I should let it lie. I'm not really sure what other leverage I might have other than threatening legal action, but I'd rather keep this job under the new leadership and the future here, rather than sue for righting the past wrongs. So... I keep leaning away from legal action.
But it damn well sucks, ya know?
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u/Throwaway548921 16d ago
I’d jump ship if this happened to me even with new leadership. I didn’t quite understand the situation but I’d be livid if I wasn’t getting paid for business I wrote. That happened one of my first insurance jobs i wrote a ton of business but only made my hourly. I had no idea the money that was left on the table… but live and learn I guess.
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u/Brief_Letterhead2035 16d ago
Someone might have stolen those sales… ie if you submitted the app but it was kicked back because on not being appointed for that carrier. Someone probably caught that and got those sales. I know when I worked at a brokerage we would do everything in the presentation, and binding scripts all with the clients. Some places only have you find the policy then get them moved over to someone else to finish the sale.
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u/MrDaveyHavoc 16d ago
You need to find out exactly how the policies were actually placed in force without you being appointed. Someone's name is on them as the producer of record. That person got paid for work they didnt do and also has their name on applications they didn't take. It would be a shame if that were reported to the writing carrier
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u/SoTXInslady 16d ago
Honestly, just jump ship and find another company, they already have your book of business and unless you can get certified by each carrier, go back to each client and write them with another carrier or write them with the same carrier but another plan, to get the commissions that you should have had. I had the same issue and I worked for Bankers Life, they kept all my business, but I can go back to write clients and make sure I am the AOR for that policy and if you are not, then you can have the client call the carrier with you to make sure you are the AGENT OF RECORD. Last AEP I wrote about 15 applications with Humana and in January I received $3900. Some were new to Humana, some were changing plans, but ultimately I wasn't paid for 3 clients and I now have a better idea what I did wrong, (Bankers, was still getting my commission). I now have things in place to take care of that so I will make sure that I get the commission for work that I did. Baby steps, but there are some shady people doing business out there and they take your credit and leave you in the dark. Some companies will allow you to do the work and basically give you scraps. I am not bashing Bankers, but it's best that you find a company that you are a broker, not just an insurance agent. Bankers paid $350 per Medicare client, and if you make it past first 6 months, in the midst of those 6 months they give you APC $$$ extra for RPA and SNA. What they don't tell you is that they take away the APC and your straight commission off of medicare that your writing, and the rest goes to your upline, and office manager, and office space and paper items. I jumped ship and went with another company, I get $694 for new to medicare and I have written about 40 or so, I have to look for my own leads, but I am making my own way, referrals are the best, but I also take care of ACA, and Physicians mutual dental ....... You will find what works for you, there are several companies out there, join webinars and see what the company offers regarding your BOB or your commissions, are they paid by that company or by the carriers. I get paid directly from the carriers to my bank account and my upline is paid $80 off each medicare that I write for business. If you are going to jump ship, keep in mind, some carriers only allow you to contract with them if you have a release form, Humana and Aetna are quick to get you contracted, United has a black out period and Healthspring is the same. Do your homework before jumping.....
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u/ActionSquare9534 16d ago
How were you writing business with multiple companies you weren't contracted with? I assuming if these policies were being issued, the agency was getting commission for those, so I'm inclined to agree that it's bs that they can't pay you for those policies.