Are you looking for an overview of how an insurance sales partnership works with an insurance IMO like Ritter?
If so, you’ve found the right article!
I’ll provide a quick overview of what Ritter Insurance offers to its agents.
My goal is to give you the information you need to decide if they are a good fit for your insurance career goals.
NOTE: Learn more about other insurance sales jobs with other organizations in my round-up article.
Ritter sells dozens of products, with each carrier offering its own combination of products. When you work for Ritter, you will sell products for a range of carriers. The products can include:
- Accidental Critical Illness: This insurance product covers costs associated with unexpected illnesses, including those not covered by health insurance and potentially including other monthly expenses, such as rent and utility bills.
- Accidental Death: This insurance policy pays benefits if death occurs due to an accident.
- Annuity: This is a policy that accepts and grows funds, with either multiple payments or a lump sum.
- Cancer: This insurance product provides coverage for medical and daily expenses following a cancer diagnosis.
- Dental: This insurance policy covers dental health visits and procedures.
- Dental Vision Hearing: This insurance product covers dental, vision, and hearing health visits, procedures, and assistive devices.
- Disability Income: This policy provides benefits to those who become disabled due to illness or injury that prevents them from performing their normal work duties.
- Final Expense: This insurance product covers funeral expenses and medical bills left after a death.
- Home Health Care: This insurance policy pays for at-home health care, such as nurses and aides.
- Hospital Indemnity: This is supplemental insurance to cover hospital costs that are not covered by other policies.
- Life Insurance: This is a life insurance policy covering a single person.
- Medicare Advantage: This is a supplement to basic Medicare coverage.
- Medicare Supplement: This supplement covers gaps in Medicare coverage.
- Prescription Drug Plan: This insurance policy pays for prescriptions not covered by other plans.
- Short Term Care: This policy covers short-term home care needs.
- Single Premium Whole Life: This policy requires a single large cash payment in return for a guaranteed life insurance benefit.
- Term: This life insurance policy provides coverage for a specific period.
- Under 65 Health: This insurance product is for those who retire before age 65 and do not have health insurance.
- Vision: This policy provides coverage for vision-related health care expenses.
Ritter has several blog posts outlining how to find prospects.
- individual advertising,
- hosting seminars or webinars, or,
- paying someone to find leads for you.
Ritter also offers pens; printed materials, such as folders and notepads; and mailers to generate insurance leads.
There are also other branded giveaways, such as mints, chip clips, pill holders, and bookmarks available, all for a small fee.
You can also purchase leads from Ritter.
Ritter offers online contracting, where you choose an insurance carrier, contract simultaneously in multiple states, and complete the contracts online and let Ritter handle the rest. It includes fully digital direct contracts with the biggest nationwide carriers.
Ritter has webinars on useful topics, such as marketing with Medicareful. There is also a Medicare Quote Engine for comparing quotes.
After reviewing their website, I found Ritter is not clear on its commission, although it did pay more than $53 million in commissions to agents just in 2019.
Ritter Insurance is a not a scam, pyramid scheme, or MLM. The company has overwhelmingly favorable reviews on websites like Glassdoor and Indeed.com; the broker has a rating of 4.2/5 and 3.4/5, respectively.
Bottom line, Ritter Insurance is a great insurance marketing organization to join if you find its offerings match your career goals.
If you’re interested in a second opinion, make sure to check out how my national insurance organization works here.