Introductions Are Worth Big Bucks In The Insurance Industry

Earning commissions forever by simply making an introduction beats working for a living………….

By Bill Rusteberg

“Bill, I have a company that offers a really unique product which I am sure you will like and your clients will like even more. Are you interested?” says Gregg. That line sets the table for earning a commission or fee in perpetuity in exchange for the introduction.

“Why yes, I am interested. When can we meet to discuss?” is the intended reply. “No problem, let me set up a meeting with the company and I will get back to you Bill.” 

Gregg, my new best friend, now calls the company to cut a deal for the introduction. “Jack, I have a broker that has a lot of business and can open a lot of doors for your product/s. I want to introduce you. But first you must send me an override contract so I can receive override commissions should Bill sell any of your products.”

So the scheme is set. Bill likes the product, signs a marketing agreement, and sells the hell out it. In the meantime Gregg is spending a lot of time on the golf course and visiting his mail box frequently for his commission checks.

Eventually Bill finds out Gregg is getting 5% commission while Bill is only getting 10% commission. Bill wonders why Gregg should be paid anything off his efforts. He complains to the company and wants to be paid the additional 5% “because Gregg is doing nothing to earn his 5%!”

“Bill, don’t you know how this business works? Introductions are worth big bucks. Why don’t you introduce us to other brokers and you will earn 5% off their efforts!”

So Bill does just that. He understands some work hard for their money and others don’t.

May I introduce you to him? He’s got a really hot product you will like and your clients will like even more!”

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