I-InsureMe Review: Legit Insurance MLM or Ponzi Scheme?

Welcome to my I-InsureMe review!

There has been some buzz about this company, so I decided to take a closer look.

Chances are someone approached you you about the business opportunity and you landed here to make sure it’s legit.

The good news is I am going to walk you through the company, products and affiliate program so you can make the right decision.

Just PAY close attention and read this to the end…

I-InsureMe Review (Company)

I-InsureMe operates in the insurance MLM niche.

The company is based out of Arizona in the US and headed up by owner and CEO Paul Langley.

The earliest business history I was able to find on Langley (right) was Clear Business Solutions.

I wasn’t able to pin down when it started but as per a Better Business Bureau listing, prior to 2005 Clear Business Solutions “offered a health care savings plan”.

As of March 2005, the company has ceased this type of business and now offers a service to close sales for coastal vacations business opportunities.

According to Langley’s LinkedIn profile, he owned and operated Dedicated Financial Group from August 2006 to April 2014.

I-InsureMe Review (Products)

I-InsureMe markets property & casualty insurance, broken down to home, auto and/or business insurance policies.

Insurance policies are given by Dickinson Insurance, an Idaho agency that pitches it self as “the insurance specialists”.

Through Dickinson Insurance, offered policies are available in Arizona, California, Colorado, Connecticut, Florida (no HO), Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Minnesota, Missouri, Montana, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin, Wyoming.

These locations are taken directly from I-InsureMe’s website at the time of publication.

Seeing as pricing is policy dependent, I can’t provide any retail pricing examples.

I-InsureMe do however state that

70-80% of the time, a person can get better coverage, better pricing, or both on his/her home/auto/business insurance.

I-InsureMe Review Compensation Plan

I-InsureMe’s compensation plan joins enrollment and insurance policy commissions.

I-InsureMe Review Affiliate Membership Tiers

I-InsureMe’s compensation documentation details three affiliate membership tiers:

  • Representative – gets paid to refer insurance clients (no MLM)
  • Affiliate – paid to recruit new Affiliates and Representative Affiliates
  • Representative Affiliates – paid to refer insurance clients and recruit new Affiliates and Representative Affiliates

While policy volume generated by Representatives is paid out via I-InsureMe’s compensation plan, Representatives themselves can’t earn MLM commissions.

Affiliates earn both direct and passed up recruitment commissions.

Representatives earn direct, passed up and residual policy and recruitment commissions.

I-InsureMe

Insurance Referral Fees

Licensed Representatives and Representative Affiliates earn insurance referral fees.

Insurance referral fees are calculated annually but paid monthly.

  • 1.02% is paid on the first $25,000 PV
  • 5.04% is paid on $25,001 PV and higher volume

As per I-InsureMe’s compensation material, this equates to 0.085% or 0.42% a month respectively.

Note that when an unlicensed Representative or Representative Affiliate, insurance referral fees are passed up to the first upline Representative or Representative Affiliate.

At the point unlicensed Representative or Representative Affiliate becomes licensed, they receive formerly passed up referral fees on their PV.

Recruitment Commissions

I-InsureMe pays commissions on IIM System commissions paid by Affiliates and Representative Affiliates.

A $25 per month commission is paid per Affiliate or Representative Affiliate recruited.

Note that recruitment commissions paid on the first two affiliates recruited are passed upline (to the affiliate who recruited you).

In turn, personally recruited affiliates must also pass up commissions generated by their first two recruits.

Representative Affiliates need only pass up one recruit, as their own IIM System fee payment counts as one pass up.

Residual Commissions

I-InsureMe pays residual commissions to Representative Affiliates via a unilevel compensation structure.

A unilevel compensation structure places a Representative Affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):

uni-level

If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.

If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.

I-InsureMe caps payable unilevel commissions at four levels.

Residual commissions are paid out based on IIM System fee payments, policy sales or total PV generated by unilevel team level affiliates.

  • level 1 (personally recruited affiliates) – unlicensed Representative Affiliates earn the standard recruitment commission rate ($25 a month), licensed Representative Affiliates earn 0.24% of generated PV if it is higher
  • levels 2 to 4 – $10 paid on the first policy of affiliates on these levels, or 0.24% of their total PV paid at 0.02% a month

I-InsureMe’s compensation material suggest that, excluding the $25 a month first-level commission, residual commissions are tracked but not paid until a license is acquired.

Note that on level 1, if the $25 recruitment commission is the standard “recruitment commission” detailed above.

That is to say the $25 commission on level 1 isn’t paid out a twice (both as a recruitment commission and residual commission).

I-Insure me Review

Cost to Join I-InsureMe

I-InsureMe MLM affiliate pricing is as follows:

  • Affiliate – $50 a month
  • Representative Affiliate – $149 a month

I-InsureMe’s Terms and Conditions states these fees are non-refundable.

Note that the above fees are waived as per the following conditions:

  • Affiliate fees are waived when a 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

For reference, I-InsureMe’s non-MLM membership (Representative) costs $99 a month.

Unlike all the other I-InsureMe reviews out there I am going to keep it real with you…

Final Verdict

I-Insurance Me’s MLM opportunity contains two distinct business models, both tied to chain recruitment.

The first is the affiliate side of the business. You sign up, pay a membership fee and get paid to recruit others who do the same.

An insurance license isn’t required to participate, and CEO Paul Langley describes this component of I-InsureMe’s compensation plan as “fantastic”.

Nothing is being marketed or sold to retail customers, meaning that from a regulatory standpoint this is a blatant pyramid scheme.

The insurance side of I-InsureMe presents itself as retail-centric. This is done by emphasizing insurance being compulsory (i.e. everyone in the target market needs and will be paying for it).

Analysis of I-InsureMe’s own marketing material however suggests the policy component is also rooted in chain-recruitment.

There are no retail client qualifiers in I-InsureMe’s compensation plan. Affiliates are able to sign up, get a policy and focus on recruiting others who do the same.

Given the compensation plan and pretty obvious marketing, I’m confident I-InsureMe in fact has not generated and retained retail policy sales in significant numbers. At least not when weighed against the number of active affiliate policy purchases.

If that’s the case this would make I-InsureMe a pyramid scheme.

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