Farm Bureau Vs. Northwestern Mutual Starting Out

[wolverine50]

I have two offers on the table from both Farm Bureau and NMFN. I just turned 25 and have been out of college for roughly year and half.

I realize that they are two different paths. Do you think the probability of success and making it is much higher with FB due to base salary and offering p/c to get my foot in the door to pitch life? On the flip side, I was thinking down the road with NMFN, I can move into the advisory side and offer more, but there is steep hill to climb with an emphasis on whole life from the start with 100% commission.

I guess bigger risk, bigger reward. Both are good companies in their own respects and offer great training, mentors, support.

 

[xrac]

I have two offers on the table from both Farm Bureau and NMFN. I just turned 25 and have been out of college for roughly year and half.

I realize that they are two different paths. Do you think the probability of success and making it is much higher with FB due to base salary and offering p/c to get my foot in the door to pitch life? On the flip side, I was thinking down the road with NMFN, I can move into the advisory side and offer more, but there is steep hill to climb with an emphasis on whole life from the start with 100% commission.

I guess bigger risk, bigger reward. Both are good companies in their own respects and offer great training, mentors, support.

I think you have it pegged pretty well. Do you want to do P&C or Life? Do you want to play it safe or assume a much greater likelihood of failure?

 

[football1]

Two different animals, P&C will lead to life sales but not as many. The FB I have talked with only gives a base for 2 years that goes down each month and has to be paid back if you leave, check contract closely.

Both very good companies, but they have very different goals and you need to find which one fits your personality.

I would call field agent's from both companies, I don't think you have all the info yet.

Good Luck, either one is hard work, it's what will pay you the most in 5 -10 years.

 

[wolverine50]

Two different animals, P&C will lead to life sales but not as many. The FB I have talked with only gives a base for 2 years that goes down each month and has to be paid back if you leave, check contract closely.

Both very good companies, but they have very different goals and you need to find which one fits your personality.

I would call field agent's from both companies, I don't think you have all the info yet.

Good Luck, either one is hard work, it's what will pay you the most in 5 -10 years.

Thanks Football. I talked to a couple of agents with FB one with NMFN. You are right, I should look a little more closely at the contract. I didn't know anything about paying back the base salary. I guess it all depends on the state; Im in Michigan

 

[mj771300]

I have two offers on the table from both Farm Bureau and NMFN. I just turned 25 and have been out of college for roughly year and half.

I realize that they are two different paths. Do you think the probability of success and making it is much higher with FB due to base salary and offering p/c to get my foot in the door to pitch life? On the flip side, I was thinking down the road with NMFN, I can move into the advisory side and offer more, but there is steep hill to climb with an emphasis on whole life from the start with 100% commission.

I guess bigger risk, bigger reward. Both are good companies in their own respects and offer great training, mentors, support.

I would definitely go into P&C vs. Life Insurance. At 25 years old, your peers are legitimate prospects in the P&C world - and so is everyone else in your state regardless of income (own a car? I can help you. Own a house? I can help you. Rent an apartment? I can help you).

Whole life, however, is a product that fills a very specific need for high income earners. It's an even harder sale in a bad economy.

You can make a lot of money either way you go, but I think the easier path is P&C.

As for Farm Bureau, I'm about to go on board with them in Kentucky. I asked them about paying back the supplement (salary) and was told that I would not be on the hook for it if I didn't meet quota. But, I would DEFINITELY ask that question before signing anything in your state.

 

[wolverine50]

I would definitely go into P&C vs. Life Insurance. At 25 years old, your peers are legitimate prospects in the P&C world - and so is everyone else in your state regardless of income (own a car? I can help you. Own a house? I can help you. Rent an apartment? I can help you).

Whole life, however, is a product that fills a very specific need for high income earners. It's an even harder sale in a bad economy.

You can make a lot of money either way you go, but I think the easier path is P&C.

As for Farm Bureau, I'm about to go on board with them in Kentucky. I asked them about paying back the supplement (salary) and was told that I would not be on the hook for it if I didn't meet quota. But, I would DEFINITELY ask that question before signing anything in your state.

Thanks for the feedback MJ, very much appreciated. Good luck down there in Kentucky this fall!

 

[ikeman07]

I had a similar decision between State Farm, Met Life, and Northwestern. I ended up going with Northwestern.....I will let you know how it turns out. Just in training now

 

[wolverine50]

I had a similar decision between State Farm, Met Life, and Northwestern. I ended up going with Northwestern.....I will let you know how it turns out. Just in training now

Nice! I went with Farm Bureau, but I'm very interested in how it pans out for you.

 

[darner123]

Interesting comment about p&c being a better option than life during the down economy. I have been weighing the same two options. Good to hear my thought process is inline with experienced agents. I am a prospective newbie, and relatively new to this forum. Great source of info by the way! Thanks!

 

[bluemarlin08]

Ikeman, ask your trainer this question; If a couple have a second to die whole life/term blend, when one spouse dies could that event have a negative impact on future policy performance? Does the mortality costs increase?