Thinking of Switching From Voluntary Benefits to New York Life

[PEL Racing]

I have been selling voluntary benefits for the past 3 months and have landed 2-3 decent sized accounts. I contracted with Colonial Life because I was in B2B sales and felt that it may be an easier transition into insurance sales, but after going through the enrollments, I feel that I would rather be working with individuals on their financial planning strategies and not so much trying to sell accident and cancer policies. Am I trying to "through in the towel" too soon?? Or, would it be wise to cut ties with Colonial and move on to New York Life, Northwestern Mutual, ect...??

 

[BNTRS]

Re: Thinking of Switching From Voluntary Benefits to New York Lif

I have been selling voluntary benefits for the past 3 months and have landed 2-3 decent sized accounts. I contracted with Colonial Life because I was in B2B sales and felt that it may be an easier transition into insurance sales, but after going through the enrollments, I feel that I would rather be working with individuals on their financial planning strategies and not so much trying to sell accident and cancer policies. Am I trying to "through in the towel" too soon?? Or, would it be wise to cut ties with Colonial and move on to New York Life, Northwestern Mutual, ect...??

Is colonial captive? Why not do some individual work and continue to sell group if it's working? Can you continue to pursue the "decent sized" cases? What about picking up people in the group for individual? If you want to continue to pursue group cases as well but be career with a more individual planning focused company, Guardian would be at the top of my list (huge dental network and great with other ancillary offerings: life, LTD, STD, vision, etc.).

New York Life has some good potential as well as they have a strong work site (multi life products) focus.

Northwestern I'd stay away from.

Mass is the other big mutual, they won't really have much in the group or work site category, but they are the strongest for personal financial planning (best B/D by far out of the group).

 

[PEL Racing]

Re: Thinking of Switching From Voluntary Benefits to New York Lif

I'm sure that I can get seperate appointments while at Colonial, but I know that NYL will not allow any other carriers while you are getting a training allowance. May need to seek out a different avenue to do the financial planning with- or see if i cn pass on the training allowance with NYL. thanks for your response.

 

[HomeService]

Re: Thinking of Switching From Voluntary Benefits to New York Lif

Colonial is not captive to my knowledge, but yeah, I think NYL is.

 

[magagent]

Re: Thinking of Switching From Voluntary Benefits to New York Lif

This is correct, Colonial is NOT capive, NYL is captive though.

Colonial is not captive to my knowledge, but yeah, I think NYL is.

 

[VolAgent]

Re: Thinking of Switching From Voluntary Benefits to New York Lif

You are trading one set of challenges for another set that is different, but has some similarities. You are going to be prospecting a lot of the same people, small business owners, with some professionals thrown in for financial planning.

So, if prospecting is the problem, you won't see a big change. If it is that you just don't like the products and working with the actual employees, there will be a big change, as well as some surprising similarities.

You may also want to see if there is a MetLife or Guardian office in your area. I don't know about Iowa, but Ohio National has some career states and some broker states. Depending on which way you want to go, that may work too. ONESCO is a pretty easy B/D to work with from what I have heard.

 

[GaInsProf]

Not sure if you are still looking, but I can offer some suggestions for both areas.