Sounds like a good deal. Are you going to go with them?
Monumental Life
- Thread starter insurancemet
- Start date
Sounds like a good deal. Are you going to go with them?
- 101
I more than likely will join them, but still haven't completely made up my mind yet.
- 124
I worked for Monumental for 2yrs. This was 6yrs ago so I don't know how much has changed.
We were given the same base amount for 15 weeks. During this time, what we sold went into a pool. At the end of the 15 weeks, we would get a 22% draw off of the pool for our paycheck. It was a "debit" agency, so we had to collect premiums all day from our account. This is how they say you will make "$2,000" a month! THats if everything works out and you actually collect everything. Each week you are given a "Lapse pending list". These are policies on your account that are more than a month behind in premium. You will go crazy trying to save these old policies. When they lapse, the premium is taken off of your increase for the month. Its a no win scenerio. You can write lots of business, but if these old policies lapse, it sucks away what you have written.
The company has some ok products. I DID learn alot about life policies and how people react to sales agents. That was the good part.
We were captive back then, so if that has changed, maybe that could help.
I took it as a learning experience and a stepping stone to a better type of agency.
Hope this helps!
We were given the same base amount for 15 weeks. During this time, what we sold went into a pool. At the end of the 15 weeks, we would get a 22% draw off of the pool for our paycheck. It was a "debit" agency, so we had to collect premiums all day from our account. This is how they say you will make "$2,000" a month! THats if everything works out and you actually collect everything. Each week you are given a "Lapse pending list". These are policies on your account that are more than a month behind in premium. You will go crazy trying to save these old policies. When they lapse, the premium is taken off of your increase for the month. Its a no win scenerio. You can write lots of business, but if these old policies lapse, it sucks away what you have written.
The company has some ok products. I DID learn alot about life policies and how people react to sales agents. That was the good part.
We were captive back then, so if that has changed, maybe that could help.
I took it as a learning experience and a stepping stone to a better type of agency.
Hope this helps!
wow, thanks 4 the info..something to consider
- 1,704
How come so many FMO/IMO's are suddenly promoting Monumental? Phone sales and leads included. Something changing over there ?
wbdavidson
New Member
- 5
Just joined Monumental this week... I believe they have a lot to offer!
Good luck!
- 101
I will be starting with Monumental Aug 3rd
I also wish you well. I think it will be a good place to learn to sell.
Montana2
Expert
I was recently appointed with Monumental and Foresters.
My first app with Foresters was rejected after the phone verification ( I thought I had the answers right) and later in the week a Monumental deal was going fine, the customer got preferred, signed everything including the bank draft authorization then, backed out.
That was $984 of ALP down the drain.
This was before I had the welcome kits from either place and all I had was material including the applications from my printer.
Question: Do the IMO's or the company give any assistance to independent agents for the final expense products?
My first app with Foresters was rejected after the phone verification ( I thought I had the answers right) and later in the week a Monumental deal was going fine, the customer got preferred, signed everything including the bank draft authorization then, backed out.
That was $984 of ALP down the drain.
This was before I had the welcome kits from either place and all I had was material including the applications from my printer.
Question: Do the IMO's or the company give any assistance to independent agents for the final expense products?
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