Getting Confused....

[Baltimoreagent]

Hi everybody

I started selling as a licensed life/health producer a few months ago. I am with a company full time. I was promised "heaven" and find myself in a rather difficult situation.

I will not mention the company I work for since I think that "badmouthing" your employer is very bad style. The only thing I WILL disclose though is the following:

we sell in the field only. Commission structure is not bad for a newbie. But what really turns me off is our lead quality. They are free and plenty, but the quality is really bad. Often they are 8-12 months old, no pre-qualification at all and the worst is: most people expect only "free stuff". When they request the "delivery" they are being told that there "would" be other products, but 90% of the clients either ignore that info or simply forget.

This puts me in the situation that the vast majority of clients has NO CLUE that my visit is a solicitation for insurance. And personally I do not think it is VERY ethical....

And THIS leads to: being in the field for 12-14 hrs a day, with a closing ratio of 20-25%. And most policies in the end are small ones between 300-600 ALP.
We work 6-7 days, as I said 12-14 hrs/day and in the end I net-net somewhere between 3000-4000 a month.

This is VERY draining and dissatisfying. I do NOT mind working hard but I want a different outcome for SUCH hard work. It is no fun at all. But I have to keep going and I generally LOVE selling insurance. I was in a different field of sales before.

I am well aware that the harder you work, the higher the rewards, absolutely. But I am not willing to have such a touch work-life-balance for such a small reward anymore.

I am aware that most companies SELL leads to the agents. Even though I do not like it, it seems as this would be the only way with another agency/brokerage? Main question:

What company, brokerage or carrier would you recommend? Whom do you have best experiences with? I am now a 1099, actually would not like to be an employee, but would look into if no other promising solution available.

Thank you all for your feedbacks and hints!

 

[WinoBlues]

Do they also think you are Union affiliated some how?

 

[goillini52]

Hi everybody

I started selling as a licensed life/health producer a few months ago. I am with a company full time. I was promised "heaven" and find myself in a rather difficult situation.

I will not mention the company I work for since I think that "badmouthing" your employer is very bad style. The only thing I WILL disclose though is the following:

we sell in the field only. Commission structure is not bad for a newbie. But what really turns me off is our lead quality. They are free and plenty, but the quality is really bad. Often they are 8-12 months old, no pre-qualification at all and the worst is: most people expect only "free stuff". When they request the "delivery" they are being told that there "would" be other products, but 90% of the clients either ignore that info or simply forget.

This puts me in the situation that the vast majority of clients has NO CLUE that my visit is a solicitation for insurance. And personally I do not think it is VERY ethical....

And THIS leads to: being in the field for 12-14 hrs a day, with a closing ratio of 20-25%. And most policies in the end are small ones between 300-600 ALP.
We work 6-7 days, as I said 12-14 hrs/day and in the end I net-net somewhere between 3000-4000 a month.

This is VERY draining and dissatisfying. I do NOT mind working hard but I want a different outcome for SUCH hard work. It is no fun at all. But I have to keep going and I generally LOVE selling insurance. I was in a different field of sales before.

I am well aware that the harder you work, the higher the rewards, absolutely. But I am not willing to have such a touch work-life-balance for such a small reward anymore.

I am aware that most companies SELL leads to the agents. Even though I do not like it, it seems as this would be the only way with another agency/brokerage? Main question:

What company, brokerage or carrier would you recommend? Whom do you have best experiences with? I am now a 1099, actually would not like to be an employee, but would look into if no other promising solution available.

Thank you all for your feedbacks and hints!

Go independent and you'll probably get about twice the commission %. Then you can buy your own aged leads dirt cheap.


What % are you getting now?

 

[HoosierLife]

Free leads are never free. As suggested you need to go Indy and just purchase your own leads.

Are you selling FE, MP and supps? If so we can all guess who you are with.

 

[Baltimoreagent]

Thanks for your replies guys. Yes FE, MP and suppl.

I know that Indy would probably be easier. But still being a newbie makes it kind of "scary" because I am sure that in my territory there are lots of seasoned and experienced indy agents active. NOT that I wouldn't be up to the challeng :-) but you get my drift.

Being only a few months in I actually would feel "safer" with an organization/company behind me. But maybe you are right.....the only thing is the cost of good leads. But probably is the key to better business.

 

[HoosierLife]

Thanks for your replies guys. Yes FE, MP and suppl. I know that Indy would probably be easier. But still being a newbie makes it kind of "scary" because I am sure that in my territory there are lots of seasoned and experienced indy agents active. NOT that I wouldn't be up to the challeng :-) but you get my drift. Being only a few months in I actually would feel "safer" with an organization/company behind me. But maybe you are right.....the only thing is the cost of good leads. But probably is the key to better business.

Those seasoned and exp Indy agent are there whether you are captive or not. Right now, you don't have the right tools or training to compete with them. You are part of a churn and burn operation. Low commission and old leads. Your managers are making bank off of you and could care less if you drum out of the business in 6 month to a year. There will be another guy to take your place.

But you will be neck deep in debt and they will most likely Vector you so you won't be able to get appointments with other insurance carriers in the future. You're career will be over. It happens every day.

If the cost of a set priced lead program is too much in your mind, then get with an IMO that offers cheap teleleads. If you're working that hard now on aged leads, your income will double by going Indy overnight. Fresh leads and at minimum 20-30 point higher contracts will make all the difference.

Fresh leads ARE the key to this business. Good training and support are icing on the cake. Plus focusing on one niche to start out with will make a huge difference.

 

[AgentStone]

Hi everybody

I started selling as a licensed life/health producer a few months ago. I am with a company full time. I was promised "heaven" and find myself in a rather difficult situation.

I will not mention the company I work for since I think that "badmouthing" your employer is very bad style. The only thing I WILL disclose though is the following:

we sell in the field only. Commission structure is not bad for a newbie. But what really turns me off is our lead quality. They are free and plenty, but the quality is really bad. Often they are 8-12 months old, no pre-qualification at all and the worst is: most people expect only "free stuff". When they request the "delivery" they are being told that there "would" be other products, but 90% of the clients either ignore that info or simply forget.

This puts me in the situation that the vast majority of clients has NO CLUE that my visit is a solicitation for insurance. And personally I do not think it is VERY ethical....

And THIS leads to: being in the field for 12-14 hrs a day, with a closing ratio of 20-25%. And most policies in the end are small ones between 300-600 ALP.
We work 6-7 days, as I said 12-14 hrs/day and in the end I net-net somewhere between 3000-4000 a month.

This is VERY draining and dissatisfying. I do NOT mind working hard but I want a different outcome for SUCH hard work. It is no fun at all. But I have to keep going and I generally LOVE selling insurance. I was in a different field of sales before.

I am well aware that the harder you work, the higher the rewards, absolutely. But I am not willing to have such a touch work-life-balance for such a small reward anymore.

I am aware that most companies SELL leads to the agents. Even though I do not like it, it seems as this would be the only way with another agency/brokerage? Main question:

What company, brokerage or carrier would you recommend? Whom do you have best experiences with? I am now a 1099, actually would not like to be an employee, but would look into if no other promising solution available.

Thank you all for your feedbacks and hints!

I started with an off brand insurance agency many moons ago. After several mths, I caught on that something wasn't correct in the process of how they operated. I left and went to a brand life co, still independent. Hands down the best move I ever made...quality product, superior training, 3 yr guaranteed match based on production....

 

[pcbinsurance]

Are you with Baltimore Life or simply live in B-more? Naming who you're with isnt bad mouthing and can tell us more about what u might be experiencing.