Not in Tampa but they are pushing IUL everywhere.
Not Quite an Agent Yet!
- Thread starter onefastpony
- Start date
Not in Tampa but they are pushing IUL everywhere.
- 4,689
I'm not affiliated with the Tampa office of AGLA.
- 15,041
I talked to AGLA once, it wasn't my cup of tea.
But by all means, call him at the office and ask to talk to him. Not only that, do that for every captive life company in your area. Any manager that won't give you an interview, ditch them. You are being aggressive by seeking them out, that should be worth at least 15 minutes of their time. After all, they need butts in seats and here you are calling them.
But by all means, call him at the office and ask to talk to him. Not only that, do that for every captive life company in your area. Any manager that won't give you an interview, ditch them. You are being aggressive by seeking them out, that should be worth at least 15 minutes of their time. After all, they need butts in seats and here you are calling them.
I don't think AGLA does any Med Supps.
- Thread starter
- #17
- 847
Well I went ahead on Wed. and cold called the recruiter/AM for the Tampa office and informed her that I was wanting to get in the biz and had a few questions and wanted to know if I could come in and speak with her. She had no problem with it and scheduled me for 1pm. The sit down turned into an interview and I've got a second interview scheduled on Monday.
When I was signing in on their sign in sheet I noted alot of names with appt's with the same person I was meeting with. Once inside her office I asked about the attrition rate since she has seen so many persons in one day. She said that they interview 20 prospects to get 1 person they like. Maybe I'm special, who knows.
I was asking about the commissions since I know how much I have to bring into my office now in order to make my goal of 1500 per week. I was told that I basically had to sell 1 IUL policy per week in order to make my goal. I asked about the percentages and I was told that on IUL and UL that I get 105% commission.??? Excuse me for my ignorance, but how do I make 105%? How does the company make money? Do I not get renewal commissions or something? I'm confused there. Now she did say that on other products it is less commish and I can understand and she said she would give me a full breakdown of percentages later on.
I then spoke with another AM whom I was told that I would be on his team. This AM seemed really nice and was about business, which is what I like. But another question??? He mentioned that he went to an appt. with a new agent and the new agent sold a product and made 5K on the sale. I asked how does he being the AM/trainer make any money. He said he does an override?? What is an override? Any help would be nice. I will keep you all posted.
BTW, I took my state exam today and passed for my 215. It seemed alot harder than the exam that I took for the required 40hr course though, but alas, I at least passed it.
When I was signing in on their sign in sheet I noted alot of names with appt's with the same person I was meeting with. Once inside her office I asked about the attrition rate since she has seen so many persons in one day. She said that they interview 20 prospects to get 1 person they like. Maybe I'm special, who knows.
I was asking about the commissions since I know how much I have to bring into my office now in order to make my goal of 1500 per week. I was told that I basically had to sell 1 IUL policy per week in order to make my goal. I asked about the percentages and I was told that on IUL and UL that I get 105% commission.??? Excuse me for my ignorance, but how do I make 105%? How does the company make money? Do I not get renewal commissions or something? I'm confused there. Now she did say that on other products it is less commish and I can understand and she said she would give me a full breakdown of percentages later on.
I then spoke with another AM whom I was told that I would be on his team. This AM seemed really nice and was about business, which is what I like. But another question??? He mentioned that he went to an appt. with a new agent and the new agent sold a product and made 5K on the sale. I asked how does he being the AM/trainer make any money. He said he does an override?? What is an override? Any help would be nice. I will keep you all posted.
BTW, I took my state exam today and passed for my 215. It seemed alot harder than the exam that I took for the required 40hr course though, but alas, I at least passed it.
- 15,041
Good job being aggressive and asking to talk to her.
Odds are, she fibbed a bit. She will hire 20 people and hope one sticks.
As to the 105% on IUL and UL, I bet she is counting bonuses and such. I doubt any captives pays that much out of the gate, but it is certainly doable for the company. There are contracts out there that are 120% or more on UL and WL and still pay renewals. Remember, a life policy isn't about the first year or even the first few years, the company wants to keep it on the books for years. I have been told a few times that a policy typically has to stay on the books for 7 years to become profitable to the company.
An override is compensation paid to a manager based upon the agent's production. In the earlier example, most companies are willing to spend roughly the same amount to put a dollar of premium on the books. That is once you add up all the compensation paid out to everyone who gets a cut. In the earlier example, the agent gets 105% and conservatively the company is willing to pay 120%, that leaves 15% as override for the manager.
Odds are, she fibbed a bit. She will hire 20 people and hope one sticks.
As to the 105% on IUL and UL, I bet she is counting bonuses and such. I doubt any captives pays that much out of the gate, but it is certainly doable for the company. There are contracts out there that are 120% or more on UL and WL and still pay renewals. Remember, a life policy isn't about the first year or even the first few years, the company wants to keep it on the books for years. I have been told a few times that a policy typically has to stay on the books for 7 years to become profitable to the company.
An override is compensation paid to a manager based upon the agent's production. In the earlier example, most companies are willing to spend roughly the same amount to put a dollar of premium on the books. That is once you add up all the compensation paid out to everyone who gets a cut. In the earlier example, the agent gets 105% and conservatively the company is willing to pay 120%, that leaves 15% as override for the manager.
- Thread starter
- #19
- 847
Thanks for the input. I'm not too worried if they hire 20 new agents, just as long as I'm "the last one standing."
- 15,041
Only you can control that. The key is, to quote the drunk 
, "Apptivity".
Once you start, your job is to find suspects, turn them into qualified prospects and turn them into clients. Nothing else. Your desk does not need to be cleaned, let a foot of dust collect on it. You don't need to be particularly organized, especially if you are doing that organizing during working hours. And the last thing you need to do is to spend time on Facebook, LinkedIn, etc. trying to find business. Also, forget about this forum during business hours. Spend your time finding suspects, meeting them on a favorable basis and turning them into clients.
, "Apptivity".Once you start, your job is to find suspects, turn them into qualified prospects and turn them into clients. Nothing else. Your desk does not need to be cleaned, let a foot of dust collect on it. You don't need to be particularly organized, especially if you are doing that organizing during working hours. And the last thing you need to do is to spend time on Facebook, LinkedIn, etc. trying to find business. Also, forget about this forum during business hours. Spend your time finding suspects, meeting them on a favorable basis and turning them into clients.
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