Choosing an Agency (part Time)

[MarcusP617]

I just passed the exam and got my FL State 215 license to sell life, health and annuities.

Right now my intent is just to embark on the career part time to make supplemental income. I have a 9-5 that occupies most of my time with a healthcare IT company that I am extremely happy with, but I am looking for other streams of income.

Initially I got my license because a mentor of mine who made his fortune selling insurance in Puerto Rico said he'd heard of a companies who provide "warm leads," which he said with my sales ability in the insurance industry, seemed like a win-win. As with everything, I fully anticipated there being a catch because an insurance agency that provides you with leads seems too good to be true.

The company is NAA, which I've done a lot of research on and heard mixed reviews. I know a lot of their leads you need to pay for and are recycled and I've heard a lot of people accusing them of being scammers. That being said, I'm sure there are also a lot of NAA agents making good money. Because of my B2B sales experience I'm not necessarily averse to cold calling and cycling through bad leads to stumble across some good ones.

Embarking on this career part time I think there's great value in that but there's pros and cons. I've also been approached by a friend who is a Senior Marketing Director at World Financial Group and runs his own agency. He has been extremely successful and made a lot of money (this is someone I grew up with and know his success is legitimate) but he had the right situation in place. There were some things concerning me with NAA where they emphasize a model where you don't make the residual income and get higher payouts up front, but they do have a commission structure where you can get residuals as well.

Ultimately I'm just torn as to who I should start practicing with. Figured I could get some insight from the forums on what factors I should consider (quality of policies, commission structure, lead generation, business model,) etc. in getting started and any recommendations for someone whose looking to get started part time.

 

[HoosierLife]

If you've already read up on them and still want to go with them, youve already drank the Kool-Aid.

There are other IMOs that offer higher contracts, less expensive/exclusive leads and better training.

 

[goillini52]

I just passed the exam and got my FL State 215 license to sell life, health and annuities.

Right now my intent is just to embark on the career part time to make supplemental income. I have a 9-5 that occupies most of my time with a healthcare IT company that I am extremely happy with, but I am looking for other streams of income.

Initially I got my license because a mentor of mine who made his fortune selling insurance in Puerto Rico said he'd heard of a companies who provide "warm leads," which he said with my sales ability in the insurance industry, seemed like a win-win. As with everything, I fully anticipated there being a catch because an insurance agency that provides you with leads seems too good to be true.

The company is NAA, which I've done a lot of research on and heard mixed reviews. I know a lot of their leads you need to pay for and are recycled and I've heard a lot of people accusing them of being scammers. That being said, I'm sure there are also a lot of NAA agents making good money. Because of my B2B sales experience I'm not necessarily averse to cold calling and cycling through bad leads to stumble across some good ones.

Embarking on this career part time I think there's great value in that but there's pros and cons. I've also been approached by a friend who is a Senior Marketing Director at World Financial Group and runs his own agency. He has been extremely successful and made a lot of money (this is someone I grew up with and know his success is legitimate) but he had the right situation in place. There were some things concerning me with NAA where they emphasize a model where you don't make the residual income and get higher payouts up front, but they do have a commission structure where you can get residuals as well.

Ultimately I'm just torn as to who I should start practicing with. Figured I could get some insight from the forums on what factors I should consider (quality of policies, commission structure, lead generation, business model,) etc. in getting started and any recommendations for someone whose looking to get started part time.

Are you sure you did a good job of researching?


http://www.insurance-forums.net/for...ntion-national-agents-alliance-naa-t4435.html

 

[The Gimp]

What part of Florida are you in? I'm in Jacksonville. Naaa is in network marketing company so keep that in mind. Local agency here you still have the Commission schedule posted on the website. If memory serves me correctly they start you at like 55% and you still have to purchase your lead. You have to decide whether that works better for you then getting 110%. Either way you still have to have a budget for leads.

Pardon any grammatical errors as I am using voice typing on my mobile device.

 

[Cornelius]

No matter where you go read the contract. Know your rights going in and coming out. Don't depend on your recruiter to tell you everything because there may be things they don't know.

 

[MarcusP617]

If you've already read up on them and still want to go with them, youve already drank the Kool-Aid.

There are other IMOs that offer higher contracts, less expensive/exclusive leads and better training.

I haven't necessarily drank the Kool-Aid or made up my mind. I know that there are red flags but I know that there are people making money with a variety of these insurance/marketing agencies, and I'm trying to see what situation would best complement my situation.

I'm not familiar with the term "IMOs" as I'm very new to this industry, but if there are entities with less expensive/exclusive leads and better training, I'd be very appreciative if you shared the knowledge or pointed me in the right direction. That's kind of the point of me creating this thread, is to seek feedback from people like yourself with more experience/insight/expertise into this field. I'd be grateful for any information you can offer me, especially if you have any recommendations regarding these "IMOs."

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Are you sure you did a good job of researching?

Not necessarily. I have done some research and gotten mixed reviews about both of these organizations. I'm not a close-minded individual, however, and I know that there are people making legitimate money with some/any of these multi-level marketing organizations, its just about finding the best fit for you.

To be honest, my research is not finished, and joining this forum to ask questions is a big part of that research process.


From the limited reading I've done on this forum thus far, there seems to be a stigma against marketing organizations that emphasize recruiting. I understand the stigma as I'm generally skeptical of any business that has characteristics of the Amway business model. That being said, I know insurance/financial services is a great industry to be in. I have also lived in my hometown of Orlando, Florida for my entire young life(I'm 24) so I have a pretty large network and might be able to be successful at recruiting. Either way, I'm honestly just looking for opinions and feedback from people like yourselves so I can make a more informed decision on how to utilize my license to make some supplemental income.

Please elaborate. I'd love to hear all of your opinions.

 

[The Gimp]

You'll find plenty of people here (including me) that are able to offer you a better deal than NAA. I don't have a problem with network marketing. I'm actually involved with LegalShield, but for some reason I don't agree with selling life insurance as part of a network marketing organization.

You should call Nick Perry over at Independent Life Insurance Agent Association — Training, Support, Community, and Direction for Your Insurance Career and explain your situation. He and Rick Bronstein (another forum member) run an association that helps new agents get started right. They aren't recruiters so you'll get unbiased assistance. You can reach Nick Perry at 404.660.1020. We're good friends so you like.

 

[layla2016]

Marcus - i am pretty much in same place as you but have run through a few more careers, older, and more skeptical than you however i admire your open minded candor.

I met the lovely NAA folks and got kicked out of their 'hot spot' meeting when I asked " too many irrelevant questions' according to the keynote speaker
i was not clear why they paid out 55%- yet it was required to purchase a minimum weekly for leads which had a conversion according to them of about 28% - the lead cost - comp plan and all the drive around to face to face appts did not add up in basic math (for me) in terms of viability and profitability

it felt MLM-y and when they wanted me to make a list of 40 friends family and coworkers i told themi had none:-)

in short they were not a match and apparently i was unruly
having burned that bridge i was oddly called next day by a co called Symmetry Financial and then the following day by a co called Primerica -- lol
i think they are all cousins working in some secret recruiting channels
not a match none of them
oh wait one more called me as my number was probably posted somewhere
it was from FFG federal financial group - formerly world something selling index something to business owners - also not a match for me -

here's my 2 cents
listen to all the colorful presentations and read everything you can here and ask the questions - also with these companies - see the offer in writing on leads payouts etc
and ask how many times those famous leads have been recycled
and ask to speak with 2-3 random reps - be spontaneous with the request -
and hey if you already signed with them and are heading up your own 'hot spot' gig then very best of succcess!

 

[cadylou]

A lots of info exists on this forum regarding NAA. Most of it negative. . . Build your business through legit channels unless you enjoy a multi level marketing type of organization--at least that's what they felt like when I encountered them in the beginning. Focus on selling good products and doing the right thing for the client and you'll be fine.

 

[MarcusP617]

You should call Nick Perry over at and explain your situation. He and Rick Bronstein (another forum member) run an association that helps new agents get started right. They aren't recruiters so you'll get unbiased assistance. You can reach Nick Perry at 404.660.1020. We're good friends so you like.

This is extremely helpful. Thank you. I plan on giving Nick a call. Also, I'm pretty familiar with Legal Shield as I had a roommate who did some things with them. I think MLM's can be ok in the right situation.

That being said I'm still VERY naïve to this whole insurance industry and from what I'm gathering on these forums, what I realize I'm ignorant to is the distinction between a 'captive' agent and an independent agent. So far all I've been exposed to are the Northwestern Mutuals, New York Lifes, Primericas, World Financial Groups and NAA's of the world, so I'm very ignorant to any other "independent" opportunities that exist out there and what those entail.

That being said, I am looking for some type of training, and someone who can help me with lead generation (whether its paid or otherwise) so I don't have to just market to my friends and family, but can still try and balance my 9-5 and make a supplemental income. I do realize that the insurance business is not "easy money" and the fact that I'm trying to work part time doesn't mean I expect to put minimal effort in, I'm just being realistic about my situation. I have a mortgage and can't necessarily jump head first into a 100% commission-based income, which is why I want to start part-time while still juggling my career in the healthcare IT field.

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A lots of info exists on this forum regarding NAA. Most of it negative. . . Build your business through legit channels unless you enjoy a multi level marketing type of organization--at least that's what they felt like when I encountered them in the beginning. Focus on selling good products and doing the right thing for the client and you'll be fine.

"Legit channels" which to build my business through are what I'm looking for. I'm very green in terms of industry knowledge, but I do appreciate the feedback and agree that the consensus on NAA is poor.