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OK, Interviewed today and everything went good. Have second interview scheduled for Tues. The pay is 45% commissions with opportunity to earn bonuses at 70-125% ...
OK, Interviewed today and everything went good. Have second interview scheduled for Tues. The pay is 45% commissions with opportunity to earn bonuses at 70-125% of commissions. I have to pay out of pocket to get my licenses but they will reimburse all but $25.00. Once licensed I will be payed $500-$600 a week for 17 weeks while training. Anything I sell during training will go in a pool which after training half my commissions will be paid as earned and half will go in the pool. I will also be paid 9% of pool money weekly along with my commissions. Does this sound about right for captive life insurance companies?
Bozack,
I am scheduled to start at AIG/AGLA in about a week. Has taken a while waiting for license, etc. Compensation is same as yours. Let's hope you get a lot of responses from those who know so all of us new to this can get some answers!
I worked for the debit side in the early 1990's and now they will not re-hire me because I was there and left. Think twice about leaving, that's for sure.
If I can remember right, you'll have to produce a fair amount of life sales to "justify" that salary... These guys are not my favorite career company, but they have a cheap term product which will help. As far as advanced life cases, there are much better places for clients to go.
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OK, Interviewed today and everything went good. Have second interview scheduled for Tues. The pay is 45% commissions with opportunity to earn bonuses at 70-125% of commissions. I have to pay out of pocket to get my licenses but they will reimburse all but $25.00. Once licensed I will be payed $500-$600 a week for 17 weeks while training. Anything I sell during training will go in a pool which after training half my commissions will be paid as earned and half will go in the pool. I will also be paid 9% of pool money weekly along with my commissions. Does this sound about right for captive life insurance companies?
Make sure that is a salary and not a draw. They will expect alot of production for that kind of salary or draw, but you may get pretty good training if you're new to the business and then down the road, if you're unhappy go with an independent agency or on your own to obtain better contracts. Good luck. What state are you in?
I'm in western PA and the only "salary" is during the 17 week training period. After that I draw 9% from my pooled commissions and receive half commissions from policies issued that week plus any bonuses which are paid monthly,so after the training pay its strictly commission. Here comes a newbie question for ya. Will I only get paid once when the policy is issued? Meaning they pay monthly on the policy for 10 years and I only get paid on it once?
Bozack,
I'm in TN. Seems that AGLA has the same starting package everywhere. Like Rabbi says, what's to lose. From what I have read on these boards (been lurking for about a month), 17 weeks should be enough time to tell if a person can make it or not, so having a salary and benefits during the training time seems to be a good thing.
I have been with AGLA about 5 months now and enjoying the company. Even if you don't validate after that 17 weeks they won't just fire you but they will lower your pay.
They seem to be competitive on most types of insurance and the new term they just came out with is very nice. Hope all goes well for you guys!
AGLA Lord,
Do you feel you are getting good training and support? The office I have been interviewing with and plan to join seems to be very well run. I have been to the office a few times outside of interview visits, and most people there have been with them for a good while. The newest person I met was a little over 6 months in. All were very professional, friendly and encouraging.
OK, Interviewed today and everything went good. Have second interview scheduled for Tues. The pay is 45% commissions with opportunity to earn bonuses at 70-125% of commissions. I have to pay out of pocket to get my licenses but they will reimburse all but $25.00. Once licensed I will be payed $500-$600 a week for 17 weeks while training. Anything I sell during training will go in a pool which after training half my commissions will be paid as earned and half will go in the pool. I will also be paid 9% of pool money weekly along with my commissions. Does this sound about right for captive life insurance companies?
I was there last year at this time as a matter of fact. It sounds like a cake walk and you're going to be on the gravy train.
1. If you don't validate - you will NOT get your pool money!
Even is you miss it by $1.00 - I missed by $13.00 and got **** on!!
2. Don't expect a book of business because you will NOT get one.
3. AIG is big on worksite business now, so expect to be making a lot of cold calls.
4. You must produce weekly - if not in week 13 the honeymoon will be over.
5. Don't ever expect to get any answers from their leaders. AIG has the worst customer service in the insurance business. Their corporate office is a complete joke and there is no accountability.
6. If you have to file a claim for a customer - don't expect it to get issued without a fight.
7. You are not allowed to contact the underwriters - only the AM or up are allowed to have the relationship and unless your manager is really good and efficient - forgot about it.
8. Don't go with AIG - I'd say stay away from the insurance business. Don't drink the kool aid!
I was there last year at this time as a matter of fact. It sounds like a cake walk and you're going to be on the gravy train.
1. If you don't validate - you will NOT get your pool money!
Even is you miss it by $1.00 - I missed by $13.00 and got **** on!!
2. Don't expect a book of business because you will NOT get one.
3. AIG is big on worksite business now, so expect to be making a lot of cold calls.
4. You must produce weekly - if not in week 13 the honeymoon will be over.
5. Don't ever expect to get any answers from their leaders. AIG has the worst customer service in the insurance business. Their corporate office is a complete joke and there is no accountability.
6. If you have to file a claim for a customer - don't expect it to get issued without a fight.
7. You are not allowed to contact the underwriters - only the AM or up are allowed to have the relationship and unless your manager is really good and efficient - forgot about it.
8. Don't go with AIG - I'd say stay away from the insurance business. Don't drink the kool aid!
Rediculous... AIG is not a bad outfit. Take the pay and learn the business. If you don't validate after 17 weeks, move on. They are paying you to learn the life insurance business.
FYI, AGLA will give you a higher base salary if you show them you have made more over the past twelve months.
Every situation is a learning experience and all experience has it's value. I have learned from experience at American Income, Bankers, and Pyramid and all of it was at my expense (100% commission). The good thing about the AGL experience is they will pay you a salary to learn. If that is the case, learn what you can and move on if it doesn't work out.
AGLA Lord,
Do you feel you are getting good training and support? The office I have been interviewing with and plan to join seems to be very well run. I have been to the office a few times outside of interview visits, and most people there have been with them for a good while. The newest person I met was a little over 6 months in. All were very professional, friendly and encouraging.
The staff is very good, at least most of them. Many 30 year or so folks, friendly and learn a lot from them.
As others have said, if you don't like it in the end, just leave. So far I think I will be staying a while.
Today was my second interview and everything went well. Talked a little bit about the products i will be selling which was good info. passed credit and background check, never thought i wouldn't. I did ask about what happens if I don't validate and was told I would come off guarantee and be straight commission. But he explained what I need to do to make sure I validate. I have to avg. $550 in annualized premiums weekly which will qualify me for all bonus money and if I do that he said I would validate around week 13. Doesn't sound like the "Gravy Train" but if I give it 100% which I intend to do sounds like it can be done fairly easy. He assured me he will do all he can to help me since he also gets rewarded if I validate. So he has some skin in the game also. I plan to purchase the online study guide from AD Banker and start digging in. Also he told me about the 100 prospect list that I already was ready for from reading the many posts on this forum.
Today was my second interview and everything went well. Talked a little bit about the products i will be selling which was good info. passed credit and background check, never thought i wouldn't. I did ask about what happens if I don't validate and was told I would come off guarantee and be straight commission. But he explained what I need to do to make sure I validate. I have to avg. $550 in annualized premiums weekly which will qualify me for all bonus money and if I do that he said I would validate around week 13. Doesn't sound like the "Gravy Train" but if I give it 100% which I intend to do sounds like it can be done fairly easy. He assured me he will do all he can to help me since he also gets rewarded if I validate. So he has some skin in the game also. I plan to purchase the online study guide from AD Banker and start digging in. Also he told me about the 100 prospect list that I already was ready for from reading the many posts on this forum.
It's definitely worth a shot! $550 weekly AV isn't too bad, but it may be a struggle at first only working your Project 100... the only downside I see t AGLA is the lack of leads.
OK, Arranged an interview with Western Southern to have a company to compare American General to. Interview went well and the manager said she will call when she gets results of the personality test I took with them to possibly schedule second interview. The pay is different over there. All commissions go directly in my bank and I'm paid 13% weekly out of my bank. Training pay is $500.00 a week but I have the chance to break that and start drawing from the bank after week five. The pay plan seems a little conservative compared to American General. No monthly bonus to qualify for and all commissions go in bank instead of 50% bank and 50% paid weekly. She did say there is an annual bonus paid in November but I think she said it's around $2,000.00 if I qualify. Now from being in the car business I no every dealer has a different pay plan but they all end up being about the same in the end. Is this true with this business as well?
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