Can I join before getting licensed?
Absolutely. In fact, we encourage you to do the following in order:
a. Join I-insureme and begin building your agency by placing ads, passing out business cards, pointing people to your site, and plugging into our turn-key marketing solutions.
b. After you have joined I-insureme, immediately review your personal insurance to see if you can get better coverage, better pricing or both through one of our carriers. You will begin to earn referral fees on your own policy as soon as you get licensed.
c. Begin studying to get licensed. We have a relationship with ExamFX to get you discounted study materials.
You will find that joining, beginning to build your agency and getting the best coverage for the best price will take very little time. After you have set that up, focus 100% on getting licensed within your first 90 days.
What are the ranks in the company?
Rank 1 - Affiliate: Affiliates earn commissions on all Direct System Sales of the IIM System (starting with their 2nd), including Enrollment Bonuses. Because Affiliates have not subscribed to the IIM System, they are not able to refer insurance.
PLEASE NOTE: The first Direct System Sale that an Affiliate generates rolls up to the first active Rank 3 Representative Affiliate above him or her, as if that Representative Affiliate generated the sale him/herself.
Rank 2 - Representative: Because Representatives have subscribed to the IIM System, they may begin referring insurance clients prior to getting licensed; however, no insurance-related compensation can be paid (currently or retroactively) to non-licensed Representatives. Although non-licensed Representatives cannot earn on insurance-related compensation, the monthly total of Insurance Referral Fees can grow prior to getting licensed. Once licensed, Representatives will earn Insurance Referral Fees on any new business and on any policies previously submitted when they renew.
Rank 3 - Representative Affiliate: Representative Affiliates may refer insurance clients (same licensing rules apply as a Rank 2 Representative) and earn commissions on all Direct System Sales of the IIM System, including Enrollment Bonuses, Agency Bonuses, and any additional bonuses tied to insurance production.
How much do I earn from Insurance Referral Fees?
Active Rank 2 and 3 Representatives with a P&C license earn insurance referral fees as follows:
Personal Lines - an average of 6% of the annualized premiums
Commercial Lines - an average of 3% of annualized premiums
These referral fees may be paid directly from Dickinson Agency or I-insureme. We pay the same on both new and renewed business.
Dickinson pays Licensed Representatives for all P&C referrals via direct deposit monthly on or around the 28th.
How much do I earn from Enrollment Bonuses?
Active Affiliates/Representative Affiliates (Ranks 1 and 3) earn a $250 Enrollment Bonus when they generate an IIM Direct System Sale. These bonuses are based on Sponsorship and are paid on Fridays for any sale generated the previous week thru Thursday.
How much do I earn from Direct System Sales?
Active Affiliates/Representative Affiliates (Ranks 1 and 3) earn $100 monthly commissions from the direct sale of the I-insureme Turn-key Agency System (IIM System). When they sponsor a Representative Affiliate (Rank 3), the $100 monthly commission includes Agency Bonuses (see below) which may increase the monthly commission to as high as $125. DSS commissions are based on Sponsorship and are paid monthly on or around the 15th of each month.[
How much do I earn from the Agency Bonuses?
Only Representative Affiliates (rank 3) can earn Agency Bonuses as follows:
- $5 per month for each active Representative Affiliate on Levels 1 and 2
- $10 per month for each active Representative Affiliate on Level 3
- $30 per month for each active Representative Affiliate on Level 4
Qualifications for these overrides are as follows:
PLEASE NOTE: Active Representative Affiliates may earn Agency Bonuses for one year from the date of enrollment. In order to continue earning Agency Bonuses after the first year, a Representative Affiliate must have:
- $25,000 in Personal Annualized Volume (PAV) or $150,000 in Group Annualized Volume (GAV)
- A P&C license
These qualifications must be maintained to receive Agency Bonuses.
Agency Bonuses are based on Placement and are paid monthly on or around the 15th of the month
What is the difference between Referral Fees and a Commissions?
At I-insureme, we differentiate between Referral Fees and Commissions based on the level of activity involved in the sale of insurance.
A person who provides the quotes, fills out the paperwork, and any other activity related to the sale of insurance receives Commissions.
Because I-insureme Representatives are only involved in the submission of a referral (i.e., name, contact info, etc.), we say that they receive Referral Fees.
It is a common misconception that people who do not have a P&C license can earn Referral Fees and those who do have a P&C license can earn Commissions. This is incorrect.
Although there are some states that allow for a one-time referral fee to be paid to a non-licensed person, the majority of states require a P&C license to receive any form of compensation tied to insurance - especially if that compensation is paid on a residual basis. Because I-insureme is in multiple states and because we pay annual renewals, all of our Representatives are required to have a P&C license to earn Referral Fees.
PLEASE NOTE: A Property & Casualty and/or Life insurance license IS required to earn Insurance Referral Fees.
Am I required to write my own policy?
The short answer is no; however, we believe you should be a product of the product. It is hard to market a service you do not personally own ("You should really have this even though I don't!")
How do you define a
A qualified referral is defined as submitting information on a person who:
a. Currently has insurance
b. Has been with their current insurance company for at least 6 months
c. Has avoided any major moving violations (e.g., DUIs, reckless driving, no insurance etc.) in the last 5 years
d. Is willing to combine policies (home, auto, umbrella)
e. Is willing to switch if we can get them better coverage, better pricing, or both
What is included in the I-insureme System annual subscription?
a. A personalized website for enrolling new agents and presenting the opportunity
b. A back office with marketing materials, company links and documents, and genealogy and income reports
c. Access to over 60 preferred insurance carriers ($21,000 annual value)
d. The ability to refer business in ALL 50 STATES without having to pay for Non-Resident licenses ($8,203 value every 4 years)
e. Licensed Producers to handle insurance quotes, paperwork, claims and customer service ($3,000 per month value)
f. Debit card with company logo to receive referral fees, commissions and bonuses each week and month (can be transferred to your bank account)
g. You are paid as a referring agent, as we are the selling/servicing agents. You do not need E&O coverage to earn a referral fee ($1,496 annual value)
h. Online P&C study course through ExamFX ($209.95 value)
i. Mobile app that simplifies finding, qualifying, and following up with prospects ($480 annual value)
j. Agency Building Center to provide 1-on-1 consultations for your prospects, answer their questions and enroll them into your agency on your behalf (priceless)
What is attrition and how does I-insureme avoid it?
Attrition occurs when people quit a business and the income derived from their subscription, membership, or product/service purchase goes away. This usually happens due to these 3 reasons:
a. The price of the product/service is inflated to pay out commissions to multiple people.
b. The business associate is buying the product/service for the sole purpose of generating income (not because he/she is truly interested in the product/service).
c. After a while, the business associate determines that the income he/she is generating is not enough to justify staying active in the business.
Here are 3 reasons why the I-insureme business model is almost completely attrition-proof:
a. A person who takes the time to get licensed is much more likely to work harder, remain active in the business, and do whatever is required to build a long-term residual income.
b. Our representatives are often able to get better coverage, better pricing or both on their insurance.
c. Our representatives earn referral fees on their own policies and can start to build a residual income showing other people how to do the same. We have shown them how to turn a mandatory expense into an ever-increasing residual income.
Is my business willable/transferable/sellable?
Yes. For details, please refer to sections 4.24, 4.27, 4.29, and 4.30 of our Terms.