I have a question that is keeping me up at night. Here it is in a nut-shell. I have been in the insurance business for 2 1/2 years. I have been fairly successful thus far BUT not as successful as I would like. I work with a well known fortune 500 insurance company to boot. I currently pay 40 per lead (Mortgage Protection leads) with an outside source and close probably 50% of them. Problem is I only get about 1 lead a week because these are warm leads and not resold leads. I have been thinking about going to NAA because it is my understanding that I can be getting those same (Mortgage Protection leads) for 20 a pop and get at least 2 a day. I'm thinking with my experience working simular leads my learning curve will be short and I will cut down on lead costs and at the VERY LEAST double my income as I will be getting virtually 10 times as many leads per week. My question is is NAA $20 leads exclusive? Another thing is Naa is 55% commish on terms while the company I work for is 50% on terms sold so advantage goes to NAA there as well. Am I missing something here, a catch? Are the $20 leads not so hot at NAA? I don't mind paying $20 a pop for a lead considering I had been paying double that. What am I to do? ANY suggestions would be helpful! THANKS!!!
If you want the opinions of those on here about NAA just do a search, or look in the archives- I've never sold for them so I don't have personal experience, but several on here do.
Run away, fast. Read the posts under the thread about who went to the NAA convention. When you finish researching all the info on this forum about NAA, I am sure you will agree it is not a good deal.
[COLOR=black]Yes, I have seen what has been said. My question is this…how many of those agents were brand new to the business when w/ NAA? I have experience and first class training from a major firm that has taught me a tremendous amount. I don’t need a coach to help me at this point to help guide me on selling mortgage protection term at this point in my career whereas some on here that have had bad experiences w/ NAA might be because of that very reason alone. Therefore, I am wondering if NAA would actually be a better fit for someone w/ experience rather than a newbie starting out needing a helping hand that’s not there? Sounds like at NAA they kind of throw newbie’s to the wolves and hope some stick but if they don’t oh well, there’s more agents were they came from? [/COLOR]
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[COLOR=black]Another question I have is this…how many of those NAA agents utilized their most expensive $20 version leads? I know what a $10 lead will get you (USUALLY NOTHING), so I am willing to spend the $$ to earn the $$. AND $20 is half of what I currently pay for my mortgage leads. My wonder is if they are as GOOD as my $40 leads.[/COLOR]
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[COLOR=black]I want to know of any experienced agents on here that started out at a different company, gained knowledge, and then went to NAA after a few years. By doing fairly well I mean I’ve been doing 50K-100K BUT want to make 100K at this point in my career and searching for ways to do so and make that next jump in my career. The way I’m seeing it right now is 90% of my business is based on mortgage leads and 10% comes from referrals from the sales I made from those mortgage protection leads. Of course once I am in front of the clients I sometimes find other needs such as annuities which help BIGTIME!! Any more suggestions? Have I started to drink too much kool-aid? Someone help clear the fog from my eyes LOL[/COLOR]
We have a ton of information on this forum regarding NAA - search. Also, established agents will tell you to stay away. You're here looking for advice and the advice is not to sign on. If you choose to ignore that advice, fine - but you were warned.
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Could you give examples of places I could go to to get $20-$30 leads and 100% commission? I have bee a captive agent the entire time I've been in this industry and looking to step out on my own. ANY info would be GREAT!
Could you give examples of places I could go to to get $20-$30 leads and 100% commission? I have bee a captive agent the entire time I've been in this industry and looking to step out on my own. ANY info would be GREAT!
I got $2 mail in life leads and a non~captive AIG at 100% with a nine month advance up to $1,500......
Going into the mortgage protection business is usually the wrong thing to do..... how about going into the life insurance business???? I don't care if it is a fortune 500 company, or NAA, going around and asking people to "protect their mortgage" leads to all kinds of problems and issues. Not good. Unless you do a complete job, and protect all things against loss with life insurance, including the mortgage, which I find to be rare amongst "mortgage protection" types.
You are getting a very good close ratio with your mortgage leads. Based on your numbers I'm guessing you spend $400 and make $2000. At one lead per week, you are making $200/week at most. What are you doing with the rest of your time? As a captive agent, what is the carrier giving you if you need to buy leads from an outside source? Certainly not a top contract.
The first thing I would suggest is keep buying your leads, but go get better contracts. Secondly, get contracted with another MGA that can help you with leads to grow your business. Thirdly, look at other options besides the mortgage market. There are a lot of agents chasing a declining number of leads.
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I'm getting WAY more than $200 a week. AGAIN, I use the mortgage protection as my entry into the house and find other leads once in the door. The housing market here has not suffered here like it has across the country, so that is helping me some. Annuities keep me rolling right now. Lazy money seems to be sitting around doing nothing for the clients when I get to them. I have my Series 6 and 63 and almost done with my LUTCF so rollovers are also a part of my practice and EASY money! I'm just looking for a new source to get me in front of people more often, and I can handle the rest. OH and I'm looking for a better contract than the dismal 50% on terms and 4% on annuities! AND the carrier does not give ANY leads. NONE, NADA, SQUAT for leads. ANYONE familiar with ACA since NAA is not the wisest decision? American Classic Agency is their name. ANY INFO would be GREATLY appreciated! I was told to go into the FINAL EXPENSE market to supplement my income once I go independent. Does anyone have experience in this market?
I am glad to see you only use mortagage as a door opener. I only do final expense. I only take "as earned", usually about 45% commission or so, maybe 50%. I may have seen as high as 60%. I never take advances because I have some folks who do not pay, I mainly sell younger/middle aged folks on the final expense, lower to middle income, not seniors, so I am kind of odd in that aspect. I do not sell a lot of volume, am kind of a part- timer. So, I do not know how well I could help you with final expense, but I find it to be more enjoyable {for me to sell} than mortgage protection, every one has different tastes, though.
Since I am part time and do insurance as an enjoyment thing or hobby, I am very different than a person who depends on the next sale to eat.
ACA is the predecessor to NAA. Andy, Phil and Barry were with ACA and then split off. Comp and leads are the same. It's very similar, just not as rah rah.
ACA is the predecessor to NAA. Andy, Phil and Barry were with ACA and then split off. Comp and leads are the same. It's very similar, just not as rah rah.
After dealing with both organizations, leads and comp are not the same.
BIG question BIG consequences
ANYONE familiar with ACA since NAA is not the wisest decision? American Classic Agency is their name. ANY INFO would be GREATLY appreciated! I was told to go into the FINAL EXPENSE market to supplement my income once I go independent. Does anyone have experience in this market?
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