PLEASE DO NOT JOIN INSPHERE. I was a good producer and maybe made $30K. I calculated, had I been an independent broker, I would have made approximately $100K instead. You can purchase leads yourself from various companies, such as Insure Me and Norvax on your own for less than what Insphere charges you, by the way, so really, other than a couple of training sessions and the occassional free food and reunion, there isn't much they offer.
I am writing this because I had a horrible experience with Insphere. They suffocate all agents, top producers down to newbies. They tell you that you should be paid "advances", which really means a money loan that you can't understand and can't ever pay off. They add interest and so many confusing fees on top of fees, that your agent balance never goes down! You WILL NEVER SEE A RESIDUAL INCOME FROM ALL THE BUSINESS YOU WRITE THROUGH INSPHERE!!!
They also pay commissions that are MUCH LESS than industry average. For instance, you go out on your own as a life, health producer and contract on your own with Blue Cross/Shield, Humana, Aetna, United, etc. and you will have 8-14% commission, depending on production level and state. Insphere, is maybe 5-7% at best.
But it gets worse. What most people don't get is that they only advance you 1/2 of the year. They then keep the other half to "pay down your agent balance". This technically means that they advance 1/2 of 5-7%, which is really 2.5-3.5% of the total commission per policy. YOU WILL NEVER BE INDEPENDENTLY WEALTHY WORKING FOR INSPHERE. They don't allow these carriers to offer their bonuses to Insphere Agents. I missed out on a $9K bonus from Aetna because I was contracted under Insphere! You also get paid more with the life, disabililty and long-term care carriers contracting on your own by the way.
I eventually caught on and starting contracting myself with other carriers they didn't offer because I needed to make more money. Here I was, getting awards from Insphere and verbal recognition, but no money and could hardly pay my bills. I decided in late 2011, not to renew my Insphere Contract.
Now they are trying to come after me for thousands. I WAS A TOP PRODUCER IN THE COMPANY AND MADE LESS THAN MINUMUM WAGE WITH THE HOURS I WORKED.
If anyone else has gone through this too, please contact me or reply and perhaps do something about this. I think everyone is scared of them. But they can't keep all my back end and other 1/2 of the year commissions, deny me bonuses carriers offer, keep all my clients, deny me access to carriers and then try to come after me for basically the same amount that they advanced! It's fraud, plain and clear. They have to be stopped before they do this to hundreds of other agents.