Dont Understand Life Insurance Jobs

[SingingSabre]

This is going to surprise everyone here, but there are actually salaried jobs to sell life insurance. I will agree it is just about as rare as the do-do bird, but they do exist!

I have an agency who pays everyone a salary, I have 5 reps in that office who sell life insurance as at least 50% of their production. They do get an arbitrary bonus quarterly, but as they say the bonus is really more about effort than production quotas.

The guy who owns the agency says he wants people to know they have a home to go to even after a bad day/week/month and he doesn't want them making sales for the wrong reason (He wants them to sell clients what the client needs to buy, not what the agent needs to sell). Personally I don't agree with this logic 100%. It sounds nice but ultimately I think their agents often cop out and sell the "easy" product (term) instead of spending time sharing with the client why they should put $10,000 a year towards this insurance plan.

This is a 4th generation agency and they can afford this luxury. I work with several hundred other agents and this is the only "salary" situation I am aware of, but it does exist.

The dodo is extinct...



Salaried positions usually have giant quotas which, if you hit, you could possibly make more on commission.

I agree with your sentiments, though!

 

[WinoBlues]

Life insurance. I think this is very helpful and great for people. It ensures they have a good life , they will have the money to do what they want, buy what they like and go to any place they like. This is great, you can TERM4SALE.COM]see here[/URL]

Thank you for the link above.

 

[xrac]

Life insurance. I think this is very helpful and great for people. It ensures they have a good life , they will have the money to do what they want, buy what they like and go to any place they like. This is great, you can see here

Trouble is most people have to be dead and it is their heirs who enjoy the benefits.

 

[rugerred]

Thank you for the link above.

I said i was looking forward to the link and got deleted. Oops wrong thread. They are all starting to look alike.

Sent from my Samsung Galaxy

 

[Jerard]

I said i was looking forward to the link and got deleted. Oops wrong thread. They are all starting to look alike.

Good to know. I thought I was going crazy. Not to say that I'm not, but I'm not today.

"Yes, you are."

Noooo....I'm not.

"Stop talking to me..."

You, first.

"OK"

 

[WinoBlues]

I said i was looking forward to the link and got deleted. Oops wrong thread. They are all starting to look alike.

Sent from my Samsung Galaxy

We were both replying to some spammer I had changed hi link to term for sale.

 

[Family Man First]

Not sure what type of business is submitted that takes 12 weeks to get paid on... However, if you do some looking there are carriers that process and pay out sooner than 12 weeks. There are two carriers I am appointed to that pay out 5 days after submission of good order business, assuming the client qualifies. The other carrier has been processing and paying out in 15 days. If you'd like more info just message me.

So you went and got licensed without any idea of how being an agent works and how we are compensated?

You're gonna love hearing that a normal commission for my life business runs at a minimum of 12 weeks from turning in the application to writing the deposit check. I have this feeling you're not going to be very happy in this business as it is nothing like a salaried job.

 

[Norwayguy]

Not sure what type of business is submitted that takes 12 weeks to get paid on... However, if you do some looking there are carriers that process and pay out sooner than 12 weeks. There are two carriers I am appointed to that pay out 5 days after submission of good order business, assuming the client qualifies. The other carrier has been processing and paying out in 15 days. If you'd like more info just message me.

He is probably referring to fully underwritten business with paramed and aps.

 

[WinoBlues]

Not sure what type of business is submitted that takes 12 weeks to get paid on... However, if you do some looking there are carriers that process and pay out sooner than 12 weeks. There are two carriers I am appointed to that pay out 5 days after submission of good order business, assuming the client qualifies. The other carrier has been processing and paying out in 15 days. If you'd like more info just message me.

Life Insurance.
I had one a year ago take about 4 months, $500,000.00 for a male mid sixties. Had one earlier this year take almost as long $5,000,000.00 multiple doctors and hospitals to APS.

What carriers are you recommending?

Lee

 

[Family Man First]

As far as recommending carriers if they take you would be Fidelity & Guaranty Life and Phoenix Life.

Being a good field underwriter helps speed the process. Once the underwriters know you're taking the extra time going above and beyond then you'll see faster turn around times. Thorough field underwriting is essential, yes the appointment will take longer. But would you rather a longer appointment or continuously calling back or dropping by for more information. That way the only follow up will be to update them of the status of their policy and not for additional information that could've been gathered the first go round. If you have a general idea about who you're going to see call your carrier ahead of time and ask for help with the requirements for submitting in good order business without constant Q&A after application submission. Even with paramed and aps being ordered have client place urgency to their doctor to get the records out asap. Otherwise the doctors will sit on the request from the insurance company.