B4 > Wednesday, January 25, 1984 = ‘North Shore’ News

fi business

LOOKING AT INSURANCE

a SB ; a BS
Living by commission
EVERY NOW and then the question comes up of
how I get paid (so far nobody’s asking why I get
paid, but maybe that’s because most folk are essen-

tially polite).

By MARILYNNE A. KING

The question is likely to get
asked when I’ve promised to
perform a service which
could result in a no-sale; or
after P’'ve worked with so-
meone at length and con-
cluded they don’t need any of
the products | handle. Many
folks realize that people who
do the consulting kind of
work I do sometimes charge
for their services; many of
them also know that most life
insurance agents work on a
commission basis. When I’ve
performed a service and no
sale has resulted, if the ques-
tion of compensation is rais-
ed, | might answer with
something like the following.

Life insurance agents know
that not everyone they talk to
is going to buy life insurance.
They learn that a percentage
of their contacts will buy -
perhaps 10 cent at one
stage of their careers; later,
as they talk to a different
selection of prospective

Vancouver

clients, the percentage of
sales might improve to 25 per
cent. So an agent - provided
he or she has this frame of
mind - will not be dismayed
when an interview does not
produce a sale; over a period
of time the percentage of
sales to interviews will result
in the anticipated number of
sales and all’s right with the
world.

There are other elements of
compensation that can
develop out of a no-sale
interview; where the agent
had demonstrated that he
knows what he's talking
about and hasn’t done
anything objectionable, he or
she is likely to be given names
of the interviewee’s fnends
and associates to approach.
There’s a good chance too
that if the individual inter-
viewed has a future need for
life insurance, the agent may
well be remembered and con-
tacted at that time.

Most life insurance agents
are On commission and this 1s

hard to get accustomed to for
people who’ve been on salary
- but there are good things
about it. If you aren’t mak-
ing sales and hence no com-
Mission is coming im, you
know you’ve got to look for
another line of work (which
is good in that you don’t get
stuck doing something for
which you are not suited).
Also, if you have a lot of ex-
tra expense for one reason or
another, when you're on
commission you can generate
additional income by work-
ing harder. (In salaried posi-
tions, working harder is not
always i in one’s
paycheque).

Getting paid by commis-
sion sometimes prompts in-
dividuals to sell harder and to
over-sell. Such individuals
rarely enjoy lasting success in
hfe imsurance sales work
because their clients are often
dissatisfied with their
purchases.

Marilyone A. King is a
North Shore life insarance
agent licensed by Manufac-

turers Life. She may be
reached at 681-5411 to
answer any questions about
her column.

"34

sprcing Gill Show

FEBRUARY 12. 13, 14, 1984 - COLISEUM.
EXHIBITION PARK VANCOUVER

BIGGER & BETTER

New exubitors and new service
facies wilt make Uhis yearns Sogenid
hoe up SPECIAL Be sure to visit oust
New Product display area

BUY EARLY, SELL EARLY!

Be festto prot from the latest Spring

tems See Compare

and lake
GON a Lae of Me bret dereals

WIN A COMMODORE 64
COMPUTER PACKAGE

Hre register eany and you Can win

Commodore O04 (Oomputer and

sottwaare Ory Cant C oenpauter Systertis

HOURS:

Sunday fetroary |.
Monday tetany too

Voesday beOruary '4

V(depevs Pg oars
TO ats Bae

Oy ARMS Sa
‘

STRICTLY FOR THE TRADE NO CONSUMERS S
NO CHILDREN OF ANY AGE WILL BE ADMITTED

AS THE Port of Vancouver improves its handling
facilities, ocean-going freighter traffic will be seen in ever

ONE PRO
TO ANOTHE!

Are vou satisfied with your answering
service? If not. consider how much more
you get with Wes-Tei's professionai
answering service: expertly trained
operators accept vour calls for business
or residence around the clock. and relay
messages [0 Vou at our convenience.
We're the preferred answering service in
the West. Were proud to help vou
communicate better. Depend onus...
References gladly provided.

WES! | | TEL

980-3611

Are you a small.
busmess requiring
ACCOUNTING
SERVICES ?

lf so,ring
COMPACT

984 — 6103

NOTICE TO MOTORISTS

The North Vancouver Motor Licence Office, located at 1668 Lloyd
Avenue, North Vancouver, will be closing as of 4:30 p.m. Friday,
January 27, 1984 and will reopen at a new location at 125 East 13th
Avenue, North Vancouver, Monday January 30, 1984 at 8:30 a.m. The
telephone number 987-4405 remains unchanged.

oY)

Alex V. Fraser
Minister of Transportation and Highways

Wamer Bailey

Financial Services Inc.

OUR PROMISE TO YOU IS THAT WE WILL

Admit it' Somewhere you have
Funds idling tazily in a Bank
Account or an RASP Give it the
attention it deserves!

Exampte 60% INCREASE*

UNITED VENTURE RETIREMENT FUND
This Fund has increased 60% over the past 12
months to September 30th, 1983° and has an
average annual compounding rate of return
of 23% over the tasi 5 years Now that's some
acthevement! ,

Our expertise will hetp you select
from over 25 RRSPs

Finance Tomes Octomer 24 1969

2 NLL LLL LL LS SS LS ST A TS EY NT A HNN SS ND a cD

WARNER BAILEY FINANCIAL SERVICES INC. |
#315 - 615 Weat Hastings Street
Vancouver, B.C. V6C 184
Telephone (604) 685-2402