[WIN]

Originally Posted by ScotinOH

I have a friend that went there. They specialize in motgage life insurance. Send direct mail and then sell the leads to agents. They make their money selling leads and training material to new agents. It's a multi level marketing organization. He spent more than he made.

I am not defending NAA is any way shape or form, however this post is totally inaccurate. NAA does not make money on "selling leads". They make their money on the 30+ points that they override their entire organization on. If anything they eat a little bit of the lead cost...very little...but a little.

[TimLett]

Originally Posted by TonyC

I was pitched by NAA rep.

I hear different things from both sides of the fence...

What's the deal with this company?


~T

Dude....just read the thread. Fix a sandwich and huge glass of milk and get to reading. Then, if you are still wanting more info...just google the phrase "naa complaint". Hope you have a few months.

[TimLett]

Originally Posted by WIN

With 100+ posts here I'm surprised you're asking this question. For anyone that already has their license there is no reason on the planet to join NAA unless you're into wasting your time and money...period.

But....what if you really believe that you can make a difference in 100% of your client's lives by selling them over-priced non-med policies with less coverage than they could get elsewhere.

[TimLett]

Originally Posted by WIN

I am not defending NAA is any way shape or form, however this post is totally inaccurate. NAA does not make money on "selling leads". They make their money on the 30+ points that they override their entire organization on. If anything they eat a little bit of the lead cost...very little...but a little.

Actually....this is not accurate. If you look at their system and see how many times they re-sell a lead, you will come to a different conclusion. Dude, in my opinion, they are worse than Netquote.com ever thought about being.

But, you are right about the huge-a$$ spread on their contracts. When I got suckered into it, I was at 55%...my manager was at 85%...and he was direct to someone with at least a 125%. So, when I made $550...one of them made $300 and the other made $400. Yep...I just consider it a damn expensive education.

Not trying to be Mr. Noble here, but as a result of that experience, the most that I will ever make on a spread is 10%. I like to bring agents in as high as possible and give them every opportunity to succeed and make all the money that they can. More power to them!!! (And of course...if they make money...then I make money. Capitalism is a wonderful system.)

[WIN]

Originally Posted by TimLett

Actually....this is not accurate. If you look at their system and see how many times they re-sell a lead, you will come to a different conclusion. Dude, in my opinion, they are worse than Netquote.com ever thought about being.

Hey...we almost agree on something.

I actually do understand exactly how their system works. Right now it takes about $40-$45 to deliver the maximum number of leads possible in the mortgage market on a national basis. They charge about $33 on their top contract and make some additional cash when some...not all.. of the aged leads are re-sold. With the gross inefficiency of the way they mail, their raw cost could actually be a little higher.

That said, it's not "how they make their money"...period. I've seen this arguement splattered throughout this post and it's just not true. They make their money on insurance, just like every other IMO. Any cash left over on lead sales pales in comparision to their overrides.

[JustinUpright]

I like Jeffery's books. I would prolly go to a seminar if he would come within say like 60 miles of me.

[TimLett]

Originally Posted by WIN

Hey...we almost agree on something. I actually do understand exactly how their system works. Right now it takes about $40-$45 to deliver the maximum number of leads possible in the mortgage market on a national basis. They charge about $33 on their top contract and make some additional cash when some...not all.. of the aged leads are re-sold. With the gross inefficiency of the way they mail, their raw cost could actually be a little higher. That said, it's not "how they make their money"...period. I've seen this arguement splattered throughout this post and it's just not true. They make their money on insurance, just like every other IMO. Any cash left over on lead sales pales in comparision to their overrides.

I think we probably agree...its just an issue of semantics, here. I agree that the lead-business is not how they make the the vast bulk of their money. But, I would still assert that they are making some measure of profit on a lead after it is sold over and over and over and over and over again. From what I recall and an educated guess, I would venture to say that a single lead could be sold five or six times. Yes, resold at a reduced rate...but, resold, nevertheless. So, we agree that their "millions" are not coming from lead sales...but, they are making some measure of profit. This, to me, would not be such a crime if they were not giving such inferior contracts. And we do agree that these 30 and 40 point spreads are fueling their millions in profit each year. To me, this is the sad part...the part that happens to agents.....especially new agents. When I left them, I went to another IMO and got a contract boost that made my NAA contract look sickly. If I had been in my past NAA manager's shoes, I would have been embarrassed as crap. The quality of the leads actually went up with my new IMO, as did the contract. Blows my mind. Absolutely blows my mind.

[westpac99]

How is NAA doing now that the real estate market turned south? anyone care to chime in with some factual data?

[TimLett]

Originally Posted by westpac99

How is NAA doing now that the real estate market turned south? anyone care to chime in with some factual data?

This is just a guess because none of my old NAA-buddies (so-called) will talk to me now that I have left the club............Even the guy who got credit for recruiting me will not return emails and has even ignored a friend request on myspace. Amazing.

Back to the subject at hand, apparently......they are still recruiting like crazy because, on average, I will get one person per day who will call or email me wanting to know about my experience with NAA and why I left.

[westpac99]

Originally Posted by TimLett

This is just a guess because none of my old NAA-buddies (so-called) will talk to me now that I have left the club............Even the guy who got credit for recruiting me will not return emails and has even ignored a friend request on myspace. Amazing.

Back to the subject at hand, apparently......they are still recruiting like crazy because, on average, I will get one person per day who will call or email me wanting to know about my experience with NAA and why I left.

You mean the "cult", not the club! I am still curious if business has tapperd off or continued to grow. Americo says they have slowed down, but didn't say anything about how much.

[myinsurebiz]

So - exactly what are NAA's fallacies?

If they are over priced - why do they sell so much of it?

In addition - if it's non med and somebody sees value in the product - so what?

Is the product going to harm anyone? Does it have value to the eyes of the beholder?

I like their team building concept.

Tom

[Invain15]

Originally Posted by myinsurebiz

So - exactly what are NAA's fallacies?

If they are over priced - why do they sell so much of it?

In addition - if it's non med and somebody sees value in the product - so what?

Is the product going to harm anyone? Does it have value to the eyes of the beholder?

I like their team building concept.

Tom

Well believe it or not they're a lot of consumers that actually trust that the insurance agent they're talking to is actually looking out for there best interest. Plus why in the world would you want to sell a decreasing term product. Most of the people that I have rewritten that had so called mortgage insurance we furious when they found out what they had. We are " Insurance Professionals" not just so scamming salesman. If things like this continue to happen nobody is going to trust us in the future.

[westpac99]

Originally Posted by Invain15

Well believe it or not they're a lot of consumers that actually trust that the insurance agent they're talking to is actually looking out for there best interest. Plus why in the world would you want to sell a decreasing term product. Most of the people that I have rewritten that had so called mortgage insurance we furious when they found out what they had. We are " Insurance Professionals" not just so scamming salesman. If things like this continue to happen nobody is going to trust us in the future.

It is an uphill battle now as it stands to build trust after AL Williams and others blazed the trail that NAA is somewhat following. None the less, Insurance Agents already have a bad name from the start.

[myinsurebiz]

I don't get it?

They market the product upfront as "mortgage protection term" - the client goes through the presentation and before signing should understand what the terms are.

They do non-med and what is basically rapid issue from what I gather. Is that so bad if the client wants it?

If the client doesn't see value in the product - just say no 'eh?

Just wondering what all the fuss is about.

Tom

[GreenSky]

Originally Posted by myinsurebiz

I don't get it?

They market the product upfront as "mortgage protection term" - the client goes through the presentation and before signing should understand what the terms are.

They do non-med and what is basically rapid issue from what I gather. Is that so bad if the client wants it?

If the client doesn't see value in the product - just say no 'eh?

Just wondering what all the fuss is about.

Tom

The fuss is if the agent knows there are alternatives and refuses to present them (mainly for a quick buck), then the agent is a crook.

If the agent doesn't know any better, then he/she shouldn't be in the business.

Doing what's best for the client means presenting options. Rapid issue may be the best choice for some, but to only present that and at the same time promote yourself as a professional is deceptive.

If that's the way you want to do business, then we know what category you fit in. I've spoken with you and I don't believe you are a dishonest person, just new to the business. However sometimes your desire to market on a grand scale gets in the way of doing what is best. I'm glad you are trying to learn.

Rick

[frizzell5]

I worked for NAA about a year ago, loved the product, loved my manager, HATED The Lead