by InsInvestigator » Wed Mar 10, 2010 05:21 am
Senior Healthcare Consultants/RJR Insurance's business practices are currently being investigated.
Promises Made-Promises Broken
This thread is dedicated to the discussion of SHC's business practices, agent and management [mis]conduct. Representations made to new agents about leads, marketing, and commissions, management structure, travel requirements, and agent impound / equity / hold-back accounts.
This is, by no means, a place to slander. libel, or defame SHC. Any such posts will be eliminated. My purpose is to gather information from as many sources as possible and use this to "help" that company with their future business practices/agent relations.
I am hopeful this can be done without litigation and the media attention a class action lawsuit would surely generate.
Posted: Thu Jul 15, 2010 01:47 pm Post Subject: DITTO..DITTO
THE HIDDEN TRUTH TO THIS WHOLE THING WITH SHC IS THAT AN AGENT CAN DO MUUUUUCH BETTER ON THEIR OWN. YOU CAN MAKE 3-4 TIMES THE MONEY, AND RENEWALS ARE MUCH HIGHER IF YOU CONTRACT WITH THE INSURANCE COMPANIES YOURSELF. AND....YOU DON'T HAVE TO TOLERATE THEIR BS: UNDELIVERED PROMISES, HALF TRUTHS ABOUT EVERYTHING FROM PRESENTATION POINTS TO GETTING PAID, GETTING YELLED AT BY THEIR GUSTAPO ONLINE MEETING PRESENTERS.
BOTTOM LINE: IT'S A GOOD INDUSTRY, JUST DON'T WORK FOR SHC. MAKE YOUR OWN APPOINTMENTS AND HELP SOME SENIORS
Posted: Fri Jul 16, 2010 06:22 pm Post Subject:
OKAY! But please don't scream at us like that.
Posted: Wed Aug 04, 2010 04:49 pm Post Subject: wow!!
I just completed my phone interview and was all ready to go except the upfront financial committment. Made me take a second look. I don't mind working hard to get what I want and I know there are investments that need to be made to start your own business. I get it. I also get they are pretty smart making money on the agents and the clients with the set up fee. They say it is to insure that you are committed.
I have to say even after some of the rants of past employees who didn't make any money in the first 4-6 weeks I was still considering the company. They were upfront about the hardships and the money and time it would take. I figured it was worth it to get to the goal I wanted. But after hearing Tammy and truly understanding their business and realizing that there slogan "Grow Wealthy with Our Future" was about management making all the money off the agents hard work.
If you think about it from a business stand point they are making bank off you every which way. Yes you can eventually make good money but at what price to you.
I really did want to sell these products to seniors I think it would be a wonderful business to get into. Does anyone know of a reputable company that will invest you as an employee and be fair about paying you what you deserve?
Thank you for this site it did help me make my decision.
Posted: Wed Aug 04, 2010 06:21 pm Post Subject:
You are prohibited in your agent contract from talking to any of your clients for some time after separation.
Generally, such non-compete agreements are hard to enforce unless it involves the disclosure of "trade secrets". From what I can tell by reading through this thread, some the "secrets" have been pretty-well laid bare!
You cannot be sued for sending a letter to your client list telling them that you're leaving the company (or have left, although their addresses technically belong to the company, but you could argue that you were just being courteous and disposed of the addresses immediately thereafter) and give them a number or address where they can contact you. A client is free to follow you anywhere, as long as they know how to contact you.
Just don't actively solicit their business to a new agency in the letter. You can word the letter benignly to the effect:
Dear Clients,
After several years of representing SHC, I have decided to join the XYZ agency in Big City, MA. If you have any questions or concerns, feel free to call me at (800) xxx-xxxx, or write to me at 123 Main Street.
Your present coverage through SHC will not be affected as I move to XYZ Agency, 123 Main Street, Big City, MA. You may contact SHC at (800) xxx-xxxx if you have any questions about your coverage.
Kindest regards,
Tammy
If a client chooses to follow you, you are free to do business with them -- because you never said, "Come and follow me to XYZ Agency," all you said was, "Here's where I'll be." That's actually public information, since you have to notify the State Dept of Insurance of any address changes, and your license information is public, so you cannot be sued over it.
But remember, the rules concerning replacement of Medicare Supplement insurance are established by the federal government and codified by the states. You must "materially improve" a client's situation after the replacement has been made.
Same benefit for the same money, just a different company, is not always a material improvement. Same benefit for less money always is an improvement, as is more benefits for the same or less money. Even more benefits for more money can be a material improvement, if the additional benefit(s) are in the best interest of the client, not the agent.
And you commissions in a replacement will probably be $0 because you are not allowed a commission as if it were new business, only a commission based on the difference between the old premium and the new. So if the new premium is less than the old premium, you might only receive your commission at the next renewal.
But at least you'll begin to rebuild a book of business with folks who already know and trust you, and won't hesitate to refer you to their friends and relatives. If your new business is broader than just senior products, that can be a fast track to a solid business.
Posted: Mon Aug 23, 2010 10:37 pm Post Subject: There is a better way
I hope anybody reading the post about disgruntled past employees listen to them. SHC is not a rip off but if you have what it takes to make it with them you can make it on your own or hook up with a local insurance agent or even in MLM(which is what I do).
I worked with them for 4-5 weeks and could see the writing on the wall and got out and I am glad I did. I instead have applied my work ethic in a different direction and I am much happier.
Good luck
Shane
Posted: Wed Aug 25, 2010 04:02 am Post Subject: Hmmm...
w w w apex-elite com
Another operation set up exactly like SHC? My guess is it is a shift to get away from the well known brand name. Much nicer website although it is registered by proxy.
Posted: Wed Aug 25, 2010 09:44 pm Post Subject: Thanks Shane (Better Way)
Thanks Shane (better way), that is good advice.
There are a ton of opportunities out there that seem to work pretty much the same way. They all seem like you are going to have to work really hard to be successful. I don’t mind the hard work, but if I am going to work that hard I would rather get as much for it as I can without having to be strongly managed or forced to work long hours. My thought is to try one of these types of opportunities that say they will take care of the lead generation part of the business for you as a last result only if I am not as successful on my own as I would like to be. At that point at least I can say I tried it on my own first.
Have you checked out SeniorChoice’s opportunities? How about The Insurance Hub? I’ve seen some pretty enticing job offers with Prudential as well. What about, AmeriLife, have you heard of them? No preset appointments, but they say they have leads and I can work my own hours.
Posted: Thu Aug 26, 2010 04:00 am Post Subject: Much Appreciated
Thanks to all who have contributed to explaining some of the differences and pitfals of this industry and the different things to look for when getting into this business. I really feel like I could do well with the senior population and the long term income potential of insurance sales is very appealing. I don't think I would have a problem finding people to see since I live in an area with TONS of senior citizens. I'd love some feedback on some options I have run across although some of them have some questionable things posted about them as well, on this site and others.
For instance, has anyone done anything with United American? They seem to have a good rating and great incentives but have had some negative press as well, but they have been around for a long time so they must be doing something well, right?
What about Senior Market Sales? They seem to have a very comprehensive set of products and sales strategies, but how do the commissions compare at some of these places?
Lastly, anyone worked with Precision Senior Marketing? They apparently (a friend in the business forwarded me an email he received) have a brand new Medicare Supplement they are about to start offering which seems to me would potentially be a good opportunity to get in on the ground floor.
Sorry so many questions, but I really do feel like the information you are providing has helped me avoid some possibly huge mistakes, so thanks again for that.
Posted: Thu Aug 26, 2010 10:58 am Post Subject: Ritter Insurance
Ritter Insurance - call Craig or April - They get you contracted w MAJOR well known companies. It is not captive contract. The insurance companies pay you directly and the number of products available is countless. Mr Ritter is a leader in the industry with a remarkable website for your use as a tool. Their support staff is amazing. You get all your commissions and renewals, they get a override for recruiting you!!
Posted: Thu Aug 26, 2010 11:03 pm Post Subject: Thanks Anonymous
Thanks for the tip Anonymous - that sounds like the best I have heard of yet.
I have to say that I did not think it would be this hard to find a good place to work for, so many seem very similar in what they offer and the potential problems associated. I have decided to do as much research now and avoid costly mistakes later.
If anyone has any other suggestions or input on Senior Choice, AmeriLife, Insurance Hub and any of the opportunities that "Whew" mentioned it would really be appreciated.
Please let me, and others out there, know what to look for, and look out for, with these opprotunities. I would especially like to hear about any other non captive opportunities out there, these almost sound too good to be true in comparison to some of the other things I have seen.
Thank you
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