Frequently asked questions
Can I strictly sell final expense telesales from my house?
Yes! Our insurance companies have the ability to sell from your home or you can go out and meet customers in their home.
What equipment will I need to get started besides a laptop?
Besides a laptop we recomend a telephone and printer scaner fax combo. A headset is an optional piece of equiptment you might want to consider as well if you are going to be selling over the phone to help you work more efficiently on the computer.
How much will all that equipment cost?
This is really up to you. Practicing frugality is always recomended when starting a new business. You can get these pieces of equiptment brand new for a cheap price at your local electronics store, or you can buy preowned or used at a Goodwill, on eBay, or on Amazon. All of these companies have return policies so you cna shop with peace of mind. Also be sure to shop around and check your local Facebook marketplace. You'd be surprised at what you can find for a bargian.
Can I do this part time in the evening?
Yes. Your time commitment is up to you. You decide how much time you want to put in and how much money you want to make.
Will I sell final expense for Golden Heritage directly, or diffrerent carriers.
We offer a number of different carriers that you can sell in the field or over the phone. But you will not be selling 'Golden Heritage Insurance' prodcuts as GHI is not an insurance company. What is GHI? We are a nationwide marketing organization that represents the best companies in the industry. We act as the conduate between you and the insurance company to ensure that you are treated fairly. We don't take your renewals, and you're fully vested day one. We will pay you top commissions and help you build your business. How do we do all this? By continuing to provide our agents with transperancy and operating with integruty. Check out our reviews over on our Facebook page.
Does GHI have any carriers that take Direct Express cards?
Unfortunately Direct Express cards are being phased out due to the poor presistency with almost all carriers. Please contact us for further details.
Does GHI have any carriers that accept debit or credit cards?
Yes, we do, PRCU does take debit cards at this time. However, we do not recomend them. The percistancy with card transactions is very low. If a card is lost or stolen your client will have to get a new card made. The previous infomration that the insurance company was using to draft thier account is now void. This scenario happens often. That is why we personaly recomend collecting the banking information. You will need account and routing information to ensure that your clients premiums are paid.
Once a policy is issued, how long does it take for me to get paid?
You will receive your advance money once the check as cleared the bank. It can take 24 to 72 hours from the time the application and payment is processed.
When do residuals begin?
Advance is 9 months or 75% of the year's premium payment. For example, a $50 monthly premium equals $600 for 12 months. Advance is $450 that you will receive once the first premium is paid. Months 10, 11, & 12 is paid to you in 3 monthly installments of $50. On the 13th month, your residuals start to be paid to you. You need to refer to your commission schedule you receive from us to determine what your residual income will be on each policy you have on the books.
What are policy advances?
An sdvances is a loan paid to you once you have a policy issued from an insurance company. If that policy lapses in the 1st year of taking it out, you will owethe money back to the insurance company that has not been compensate for through your customers premium payments. For example, if you receive a 9 month advance and your customer only pays the first months premium, you will owe eight months of advance money back to the company.
What is a captive agent?
Some companies require their agents to be "captive." This means that agents do not have the ability to sell outside of that agency. It can also mean that the agency, not the insurance company, is paying the agent. The huge disadvantage to this is that, in most cases, the agency is keeping the agents residual income once the policies have been active for one year. This is a huge money-maker for the agency because they will be getting future earnings off of the business the agent wrote instead of the agent. Make sure you read agency agreements carefully.