Combined Insurance A complete was of time and will bankrupt you Chicago, Illinois
I just read a couple of the reports on Combined and they are right on the mark. I still work for them but only part-time cause I'm working at another job - so I can pay my bills. When I find a real job - I'll quit altogether. Here's the deal...they have a great sales training program....best training I've ever been to and I've been to alot. The problem as I see it - is that they don't have any skin in the game. They don't pay for any of your expenses...oh they'll give you a 100 bucks a week (after tax 67) if you sell 3000 worth of product for the week - but that doesn't begin to cover your vehicle expenses. They do not give you a salary. And when you do sell they only give you 75% of what you make at a 30% to 45% commission rate - so that's 22.5 and 32.5% respectively, then they hold the rest. And if your policies go down - they charge you back out of your 75% or 22.5 / 32.5% commission rate - however your want to look at it. If you have residuals coming and policies go down - they take the money from there...THEY TAKE YOUR MONEY ANY WAY THEY CAN. They also have no marketing plan - you are their marketing plan....so they aren't spending any money there. And they will bleed you dry. When I started last summer I had 10 grand in the bank - not only do I not have 10 grand anymore - but I borrowed 3 grand. Right now, all of my bills are behind and my landlord handed me an eviction notice cause I did not have the money for my rent this month. Hence why I got a stop-gap job before I officially quit. I figure if I can make any money from them - either selling policies part-time or getting some residual money it's better than nothing for now. At Combined it's all about them....if they really wanted to straighten their act out - they would do some marketing, pay salaries, pay expenses and provide better compensation. I'm done with them.
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