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"While Jim's out back slaughtering a llama, this word from Mutual of Omaha."
- Marlin Perkins, Wild Kingdom
- Marlin Perkins, Wild Kingdom
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"While Jim's out back slaughtering a llama, this word from Mutual of Omaha."
- Marlin Perkins, Wild Kingdom
I used to to be a career agent, Great Company still broker for them. It all depends on who your district manager and GM are. Each Division is different and each office is different. I left because even though they claimed I was not captive, when I started writing health and the GM found out I was appointed by 5 companies outside MOO, I was terminated without notice or even a conversation. I was called unloyal and my contract terminated without cause. The funny thing was that my master builder award was in the box on my districts desk. 4 other agents were also terminated the same day. So now I broker the same products independently and get better initial commission, I don't get the production bonuses though. I really wanted to be a company man but when the economy got tough I had to feed the babies selling health. The only question I asked was what did I do wrong? I informed my district what I was doing from jump street, and he even told me where to get appointed, when his boss got upset? The answer silence. No hard feelings though, I am now doing better as an independent. The training was good, but I have had better.
When you go in the office look at the production board, if the office is rockin and has a history of solid numbers consider staying, like I said a great company. If you divide the NFYC for life cases, for an agent in half for the month and that is not what you need to make in the month run! Don't consider any numbers but Life, Disability and Longterm care numbers on the board either. These are the only numbers that apply toward your qtrly production bonus (New Agent Financing) requirements. A lesson I learned after I wrote 5 med sups and 2 annnuities the last month of my first quarter month. What...? it only counts as commission????? Not towards my production bonus. I was really sad.
The last lesson learned, Learn how to read an agent contract before you sign. I was new to the business and the commission schedule, new agent financing, deferred comp, etc, etc was really overwhelming. I learned the hard way, I had a friend in the business review my contract 6 months after I started and not everything was as rosy as I was told on the initial interview. Let's just say my DM used good sales techniques and accented the positive.
Remember this is not a job interview with a boss, this is an interview with someone who gets a slice of your production and a talent scout bonus to get you through your initial training. You are self employed, you need to watch out for number 1.