Becoming a Life Insurance broker....

[RPearson]

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Hello,

At present, I'm currently generating Life Insurance leads and selling them on a cost per lead basis.

What I'm interested in is actually selling life insurance myself (i.e. Becoming a broker).

Could someone advise on the best way to do this with as little outlay as possible?

Am I right in thinking if I become an Appointed Rep of a company i dont need FSA regulation?

Can anyone advise of any good companies to become an AR of?

Thanks
Rob

[westfinance]

Rob

There should be some companies which will take you as an AR.

The other idea is to study to become a mortgage advisor (CeMAP) and join a mortgage advisors network, in this case you can join our company. We usually take a cut of 15% -20% of what you earn.

Anyway, there is a problem in both cases. If you do only life insurance business (without mortgage business) your persistency is going to be very low. This happen when your prospects are usually tennants, some with debt problems. After you sell them a life insurance policy they will pay the premium for a few months and after they will cancel the direct debit and the provider will ask for 80 - 95 % of the commission back. This is named claw back. Because of that (if you don't sell mortgage business) 90% of the networks won't give you the commission indemnified and will put you on trail commission. Obviously if the premiums stop the trail commission stops.

Example: life insurance policy of £10/month for more than 12 years. Indemnified commission max. £175, trail commission £8.50/month for 24 months.

I can be interested to buy a few leads from you. Send me a pm.

Eugen

[habile]

Hi we are a call center based in INDIA and we generate life insurance leads through telemarketing and we have been doing that since last 6 years we have a good experience in Uk insurance market ... how ever we are generating 30 leads on daily basis and we are looking for the buyers for our leads . and we can make a good business relationship in future

please find the below mentioned questions that we ask to the customers for life insurance and the basic criteria that we work on


Age Limit 21 to 55 years
Employment must be working employed or self employed
ILLNESS must not have any critical illness

must have a UK bank account
must be interested in life insurance





INSURANCE LEAD
Date
Name Of The Customer*
Date Of Birth*
Employment Status*
Residential Status
Interested In a Quote*
Home Telephone Number*
Mobile Telephone Number*
Current Life Insurance Provider*

What is the monthly premium*

How much cover do they want?*

Does the client have any illnesses?*



The best price we can offer for the test is 25gbp and then once we feel that we can have a healthy business relationship we can definitely go ahead and freeze to a specific Price at which we both are comfortable

we also generate secured loan , remortgage, unsecured loan, based on our clients criteria



please feel free to revert back to me for any future clarifications




thanks
sujeet jha
habile calling
info@habile.org