Is I-InsureMe a Scam? Just an Ordinary Insurance MLM
Welcome to my I-InsureMe review!
I know what you’re thinking. Insurance MLM? Those are scams, right?
Well, not all of them. We do admit that they’re uncommon in the MLM industry, but there are a handful out there that are decent enough to make you some money. Unfortunately, we haven’t found one that meet our standards.
Today, we’re taking a look at a MLM company called I-InsureMe and we’re checking to see if it’s a scam.
First of all, I must Congratulate you for taking your time to do your own research before buying into any "seemingly good" product.
That's the way to avoid scams and find the legitimate way to make money online!
Let me be completely transparent with you, I'm not associated with I-InsureMe in any form.
So, rest assured that I'm not here to pitch or sell anything to you.
Instead, I'm here to reveal what this provider has to offer you...
I-InsureMe Review Summary
Product Name: I-InsureMe
Founder: Paul Langley
Product Type: Insurance MLM
Price: $49 a month plus various costs
Best For: No one
Summary: I-InsureMe is one of those ordinary MLM companies that's just that: ordinary. There's nothing unique about their income potential. In fact, marketing insurance policies is very tricky and difficult. But our biggest issue here is their compensation plan, which is focused too much on recruitment.
Rating: 50/100
Recommended: No!
More...
What is I-InsureMe?
I-InsureMe is a MLM or multi-level marketing company that operates in the insurance niche. They offer multi-affiliate compensation plan as part of their income opportunity.
Is I-InsureMe a Scam - Home Page
The company was founded by Paul Langley and is located in Arizona, USA. Digital footprints have led us to his first business venture called Clear Business Solutions, which was founded in 2005. Langley is also a licensed insurance agent in the United States.
There are rumors that I-InsureMe is a rebranded MLM company that offered travel and insurance packages, but there’s no evidence of that.
I-InsureMe Product Line
I-InsureMe offers insurance policy plans, specifically:
- Home Insurance Policies
- Auto Insurance Policies
- Business Insurance Policies
Note that I-InsureMe does not provide the insurance, but comes from another company called Dickinson Insurance. This is another insurance agency located in Idaho, USA.
Depending on the state you live, the pricing structure the insurance will be offered to you will be different.
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Does The Product Work?
Insurance can be difficult to rate mostly because it depends on a lot of factors. But for this review, we’ll be looking at their provider directly: Dickinson Insurance.
A quick Google search led me to a lot of positive feedback about the company, particularly their ability to match competitor rates at almost 80% off.
We were unable to locate any bad reviews about the company so it’s safe to assume that Dickinson Insurance does a good job.
If you just want an insurance provider, skip the MLM middleman and go directly for Dickinson Insurance.
How To Make Money with I-InsureMe?
There are no retail incentives with I-InsureMe. Instead, you get referral commissions from building a team and selling them insurance policies.
How To Get Started with I-InsureMe?
There are various costs associated with joining I-InsureMe:
- Affiliate – $50 a month
- Representative Affiliate – $149 a month
These monthly fees are non-refundable but can be waived if you meet the following criteria:
- Affiliate fees are waived when Representative Affiliate sells their first insurance policy
- 50% of the IIM System Fee is waived when a Representative or Representative Affiliate refers $12,500 PV
- 100% of the IIM System Fee is waived when a Representative or Representative Affiliate refers $25,000 PV
If you just want to be a rep minus the income side of things, it’s going to cost you $99 a month.
I-InsureMe Compensation Plan
There are three tiers that you can join in when signing up for I-InsureMe. These tiers vary in terms of their ability to provide you commissions:
- Rep – This tier level will only pay you to recruit clients only.
- Affiliate – This tier level pays you to recruit clients and affiliate level members.
- Rep Affiliate – This tier level pays you to recruit clients, affiliates, and rep affiliates.
Insurance Referral Commissions
I-InsureMe pays you for the insurance policies sold and they compute for that based on amount you sell and a percentage of that amount:
You get 1.02% for up to $25k in policies sold
You get 5.04% for over $50k in policies sold
Sponsoring Commissions
I-InsureMe also pays out new member sign-ups too. Whether you sign-up someone as an affiliate or rep affiliate, you get $25 per month.
Any pass ups from your downline will automatically get you $25 a month too.
Residual Commissions
I-InsureMe’s residual commissions follow a unilevel compensation plan, and only Representative Affiliates tier can enjoy this commission.
Is I-Insure Me a Scam - Residual Commission
This caps out at 4 levels total.
- Level 1 (personally sponsored affiliates) – unlicensed Representative Affiliates can earn a standard recruitment commission rate of $25 a month. A licensed Representative Affiliate can earn 0.24% of generated PV if it is higher
- Level 2 to 4 – $10 is paid on the first policy of affiliates on these levels. They get 0.24% of their total PV paid at 0.02% a month
For level 1, the $25 sponsoring commission is standard.
I-InsureMe Ugly Truths Revealed!
#1 Recruitment Incentives
The details from their compensation plan shows that they’re incentivizing recruitment more than retail services. But they messed it up.
According to the FTC, you can’t have a MLM company focus too much on recruitment otherwise it gets flagged as a pyramid scheme.
When we say flagged, it draws the FTC’s attention and will be investigated.
#2 Hard To Sell
Insurance policies are too difficult to sell in our opinion, mostly because people are kind of skeptical about them. These are things they think they don’t need up until they actually need it.
On top of that, it adds more monthly financial costs because you have to pay for the premiums for a finite period of time until you can actually cash it out.
Don’t get us wrong. You could approach new businesses and sell the insurance policies to the company employees. That could bump up your sales, but that’s about it.
#3 Up To Insurance Provider
Insurance policies are usually determined by the provider. Just because you had someone signed up doesn’t mean they automatically get it. The provider still has to do due diligence in checking the applicant’s background and making sure that they don’t have pre-existing conditions.
Insurance laws vary by state so before you decide to jump on the program, be sure you’re familiar with the laws in your state.
What I Like About I-InsureMe?
We’re not just impressed with I-InsureMe simply because it has a red flag that could get the FTC’s attention. It doesn’t have anything unique to bring to the table, so there’s that as well.
Is I-InsureMe a Scam?
I-InsureMe is definitely not a scam, and it’s not a pyramid scheme. But it does have a red flag that could get it investigated by the FTC.
Unless they change their compensation plan, we don’t really think the income potential is that high here. Add to the fact that you’re selling insurance policies, which is another factor that could affect your income potential.
But if you think you could make some money here, then you could check it out at your own risk.
How I Make a Living Online?
I'm not a fan of MLM, not because it's illegal or not profitable, but because of all the restrictions and the expensive costs involved.
Instead, Affiliate Marketing is my top recommended business model for anyone to make money online.
The reason is simple...
- You don't have to recruit anyone to make money
- You have the freedom to promote any products you want and not being restricted to only promote the products from one MLM company
- It's Free to get started
In fact, with affiliate marketing...
I've personally created a 4-Figure Monthly Passive Income Stream and become financially independent at just 21 years old without any College degree or working experience!
Through my own hard work, I went from a broke restaurant waiter to living my dream laptop lifestyle in less than a year's time...
If you want to discover the secrets of how I did it at such a young age, click here!
