Why did I decide to Quit HGI?
Excellent question, and thanks for stopping by my blog. Today, I want to introduce you to Hegemon Group International, HGI, but first, let me introduce myself. My name is Kenny Merdan, and I'm an insurance agency owner who sells personal lines insurance for about 4 years now. Before insurance, I spent 8+ years in the mortgage business. I've been dabbling in internet marketing for less than a year. HGI came along and married the two things I'm doing, financial services and internet marketing. This was irresistible at first, so I joined HGI, even though there were two things that rubbed me the wrong way right off the bat (which were eventually the reasons why I quit HGI).
Now, you don't have to have the first clue about financial services for HGI to be worth looking into, and if you have a need for any of the products, joining HGI is something to consider.
Take life insurance for example. Most people have family who depend of them for income, as well as other financial stability. But, most people don't have either A) enough life insurance to cover their needs, or B) simply don't have ANY coverage at all! If that's you, it's okay, you're reading this, which means you're still alive; it's not too late to correct the problem.
I'm guessing the thing that holds most people back is a little thing called "self-interest". Let's face it, once your dead, you're not going to need the life insurance money, your family will. However, if you compare life insurance to auto insurance (for example) and you get into an accident. Your car needs repairs before you can drive/sell it, now you have a direct interest in that. If your house burns down, or someone sues you while you're alive, you have a direct interest in those insurance coverages as well.
What I really enjoyed about the idea of HGI, is the thought of putting a money motivated self interest into having adequate life insurance coverage! ...but, there's a catch.
Here's the real reason why I decided to quit HGI:
- The HGI leadership, rightly or wrongly pushes the premium (cost) of life insurance product over the applicant's need of the life insurance policy. This is unethical, as well as bad business, and here's why. If someone purchases a life policy they don't feel they need, or can't afford, they will cancel the policy, and the person who wrote the policy will have to pay the upfront commissions back. Not to mention it's so unfair to the applicant that it may very well be illegal to do so.
- 4 pass ups per member is extremely disadvantageous for the average Joe (in my opinion). Most people have a hard enough time in most network marketing companies to sign up one new member, let alone the first 4 get passed up to feed your sponsor! The example I like to use is this, let's just say the average member could sign up 5 people. It's like your sponsor saying, I'm going to eat your lunch from Monday to Thursday, and you get to enjoy your lunch on Friday!
- I am of the opinion, the idea of using financial products with network marketing is great, but IF the focus is to make a small percentage profit from each new growing business, you should nurture the seeds of new members, not tax them for their first 4 commissions! Even if you buy into the explanation HGI puts forward, about selling the first 4 as a joint effort for the purposes of training you. If your goal is to get someone started, they need to be the ones getting as much quick, upfront money for their efforts as possible.
- For these reasons, as well as the abundance of truly exciting other "make money" options out there, I tried HGI, and quit HGI.
However, I'm not one to leave you without the details, so here is the HGI plan for success with HGI:
Step 1) Sign up as an HGI member (costs about $150, plus $30ish more per month).
Step 2) Get 3 new HGI members to join you in HGI, as well as purchase your HGI internal consumption life insurance policy. Or, any other version of "passing up" a total of 4 HGI life insurance policies for your HGI sponsor to write and keep the commissions.
Step 3) Meanwhile, work towards obtaining your life insurance license. (follow the steps in your HGI back office).
Step 4) Help your 3 new HGI business partners write their first 3 HGI life insurance sales, plus one for themselves, which are commission-able to you! Your 3 new members x 4 HGI life insurance sales each = 12 policies x $2400 average commissions = $28,800! Again, you'll hear the focus more towards selling the highest premium (price) possible, and less emphasis on the individual need of each new HGI member.
Step 5) Help your HGI team grow, and enjoy all the benefits of growing your Hegemon Group International business volume, which HGI refers to as "BV".
Common ways to market to new HGI prospects into joining YOU:
1) Post an HGI ad in craigslist (your HGI team should be able to show you exactly what to do)
2) Make a list of everyone you know who may be interested in becoming an HGI member, or who may need a life insurance policy (they don't have to become an HGI member to get an HGI policy from you).
3) Attend the HGI marketing meetings with your HGI team. Some HGI teams meet weekly to share ideas, as well as the results of their efforts.
I'm not writing this to convince you one way or the other, I just wanted to share my personal thoughts about HGI, as well as show you PROOF that my Level One Network blog gets PAGE ONE EXPOSURE ON GOOGLE as well as other major search engines. Click Here to see "how" and "why" that is.
A special thanks to: