- 10,329
Goodneighbor,
The only positive about your job is that you have a guaranteed income with the salary.... that is about the ONLY positive thing about it.
Most all insurance agents help the community.
Most all insurance companies help the community.
(As an example Cincinnati Life just recently paid a death claim for a policy that they had not received one dime in premium on yet (group policy))
State Farm likes to talk about the "good" they do a lot, but they have denied just as many claims (or more) on the P&C side as any other company out there.
I personally have not paid a lot of life claims, but I do personally work with an agent who has had over 50 claims from clients, who were with multiple companies, and not one claim was denied.
There are LOTS of reputable insurance companies out there. To say that State Farm is the only one is complete and total BS!
You are completely getting screwed on commissions! Sure, you are getting the salary (and maybe you need that safety), but that salary is as far as you will ever go; and you will hate your job to boot.
Those 6 policies you sold could have generated around $3K-$4K in commissions had you been paid full street commissions (assuming a meager $50/month premium)..... instead you were paid just under $2K (half of what you could have received).
But you had 60 appointments in one month!!!! Good god man, that is a huge number!
But unfortunately you only closed 10% of your appointments due to a lack of training.
With appropriate training you should be closing at least 50% of your appointments.
That would have generated around $16k-$19k in commissions at normal commission percentages....
If you set that many appointments you are doing something right on the phone. You hate the phone because you are not being paid appropriately for what you are doing, if you had just made $16K in November you would love the phone!
You need to find an agency that will pay you fairly and give you proper training. Without that you will just have another gig, instead of a true career.
If I were you I would reach out to Vol and see if he can refer you to a local agency that might be a good fit.
And as he stated, the local Mass, New York Life, Northwestern, Guardian, Met office would be an excellent choice to learn the life insurance business as well.
Again, you are getting royally screwed (and thats saying it very nicely!!)
To put in in bartending terms:
You are mixing Grey Goose martinis and Makers Mark Old Fashioneds all night long and only getting $10 in tips at the end of the night.
I dont care how much good you are doing, this is your job, its not fair to you!
And by the way, State Farm life insurance is not competitive at all. I personally have 2 life insurance clients who are state farm agents whos exact words were "I could sell myself a crappy state farm life policy, but I want something decent"... there are better policies with better rates, features, and company strength (State Farm is not among the top financially sound insurers)
Now go get paid for your work!
The only positive about your job is that you have a guaranteed income with the salary.... that is about the ONLY positive thing about it.
Most all insurance agents help the community.
Most all insurance companies help the community.
(As an example Cincinnati Life just recently paid a death claim for a policy that they had not received one dime in premium on yet (group policy))
State Farm likes to talk about the "good" they do a lot, but they have denied just as many claims (or more) on the P&C side as any other company out there.
I personally have not paid a lot of life claims, but I do personally work with an agent who has had over 50 claims from clients, who were with multiple companies, and not one claim was denied.
There are LOTS of reputable insurance companies out there. To say that State Farm is the only one is complete and total BS!
You are completely getting screwed on commissions! Sure, you are getting the salary (and maybe you need that safety), but that salary is as far as you will ever go; and you will hate your job to boot.
Those 6 policies you sold could have generated around $3K-$4K in commissions had you been paid full street commissions (assuming a meager $50/month premium)..... instead you were paid just under $2K (half of what you could have received).
But you had 60 appointments in one month!!!! Good god man, that is a huge number!
But unfortunately you only closed 10% of your appointments due to a lack of training.
With appropriate training you should be closing at least 50% of your appointments.
That would have generated around $16k-$19k in commissions at normal commission percentages....
If you set that many appointments you are doing something right on the phone. You hate the phone because you are not being paid appropriately for what you are doing, if you had just made $16K in November you would love the phone!
You need to find an agency that will pay you fairly and give you proper training. Without that you will just have another gig, instead of a true career.
If I were you I would reach out to Vol and see if he can refer you to a local agency that might be a good fit.
And as he stated, the local Mass, New York Life, Northwestern, Guardian, Met office would be an excellent choice to learn the life insurance business as well.
Again, you are getting royally screwed (and thats saying it very nicely!!)
To put in in bartending terms:
You are mixing Grey Goose martinis and Makers Mark Old Fashioneds all night long and only getting $10 in tips at the end of the night.
I dont care how much good you are doing, this is your job, its not fair to you!
And by the way, State Farm life insurance is not competitive at all. I personally have 2 life insurance clients who are state farm agents whos exact words were "I could sell myself a crappy state farm life policy, but I want something decent"... there are better policies with better rates, features, and company strength (State Farm is not among the top financially sound insurers)
Now go get paid for your work!
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