So I've been interviewing at some companies as I'm a recent college graduate. Aflac has already offered me a position and I already have a second interview lined up with Farmer's so there's a good chance they'll be offering me a position as well.
It seems to me that Farmer's is the way to go as they offer advanced commissions on sales and have more policies to offer customers. It also seems like going with Farmer's is a bit more recession-resistant as they offer auto and homeowners insurance where Aflac only does supplemental health and life. On the other hand, Aflac has 90% brand recognition and won't require me to open my own office within a year of being hired and hold me liable for a $74,000 subsidy. Also I'd only need my life and health license to work for Aflac where as id need life and health, property and casualty and series 6 and 63 licenses to work for Farmer's. Neither company is offering to pay for my licenses, so i'd have to pay ~$500 to get licensed for Aflac and ~$2,000 to get licensed for Farmer's.
So basically, I'd like if members could share any insight with me as to how they feel about these companies: good, bad, or indifferent? Are either of these companies viable career paths or should I be looking elsewhere entirely? I live in California btw.
I've been in the Insurance Business for 9 years, mostly on the side of Employee Benefits / Worksite Marketing....
Aflac will not charge you a franchise fee to get started, so if in a year you decide that it's not for you, you can move on...If your not afraid to prospect on your own to open accounts, you should see a return within a couple of months. Farmer's on the other hand...seems to be a franchise. (McDonald's, Subway) Farmer's is also expensive...
Aflac, Colonial Life....check it out. If your serious, it will treat you well and lead into a prosperous career without the franchise fee. Good Luck!
I actually interviewed for many company (captive) agent positions. Aflac was one of the first, and it smelled fishy from the start. The guy that was talking to me told me how I was going to make 70k my first year and work 3 days a week. He then made the mistake of telling me the guy that ran the office (district Manager) has still yet to sell his first policy. It made me question how he made money>?? If you get my drift, it wasn't a good fit for me. I actally ended up with Farmers, and couldn't be happier. I wanted to go independent, but didn't have the busines owner experience to be able to. Farmers gave me the subsidy (not free money) to help me start up. This money can become free to me by hittin a few goals over the next five years. I can say that farmers is cheaper now in auto in my area than any other company. I can sell now to the geico type customers only shopping price?
The simple fact about AFLAC is that the real money is NOT in becoming an agent. It's about becoming a good enough agent to then become a District Sales Coordinator, the next level UP. This way you can still earn full commissions on your own groups but you're now also training and supervising five to 10 other agents and earning 7 % of their production. If you're REALLY good at this, you just might be in line to be promoted to Regional Sales Coordinator where you supervise and manage five to 10 DSC's and earn overrides off everybody. THIS is a good gig but of course not everybody gets there. You'll hear plenty of negative about 'the Duck' here on the board and it's true that the failure rate with AFLAC is just as high as it is for anybody else in the insurance industry; about 95%, give or take a few. Still, the big RSC in my neighborhood has been collecting $400K every year for more than 10 years now. She's not going anywhere. If that's not a nice gig, I don't know what is.
Just remember: "If it were easy, EVERYBODY would be doing it."
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Aflac Vs. Farmer's Insurance
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