In Northern California no sell no pay. You must bring in business to get paid. Licenses in this order: Life and Health, Series 6, then Series 63. Benefits possible after your first life contract. They understand the issues with starting out and needing income BUT again no salary.
New York Life Offer
- Thread starter JohnnyPNJ
- Start date
- 4,132
NYL used to have TAS (Training Allowance Subsidy) which paid a matching commission on certain levels of sales. It would kick in as you made sales and only "if" made sales. Sales means paid cases, not applications.
While it's been a decade since I darkened their hallways, it could be different, but I would be very surprized if NYL was doing it. In the old days if you didn't sell, you got nadda...
Could this be deals that NYL GA's are doing special for their offices? I know some NYL agents now have subagents, so could that be it?
While it's been a decade since I darkened their hallways, it could be different, but I would be very surprized if NYL was doing it. In the old days if you didn't sell, you got nadda...
Could this be deals that NYL GA's are doing special for their offices? I know some NYL agents now have subagents, so could that be it?
- 11,995
Re: New York Life Offer (Free advice that's worth at least what you paid for it)
I started my insurance career working for a company called National Income Life Insurance, other states will know them as American Income Life. What was nice about them is they had a nice enough product, fair commission, great training (which included a sales process) and fed me leads. I only left when they stopped feeding me the leads they had committed to. Here's what I wish someone would have told me when I started:
With anyone starting out in the life insurance business, unless you are either doing it with a salary or already have a large network of friends and family that will buy whatever you are selling, plan on putting a lot of sweat and blood into learning and then hopefully you will make some money (results may vary). You also want to make sure that you'll be getting EXCELLENT training. You'll need training on not only the product and how to meet people, but also need training on sales process and techniques. My first manager was really a jerk, but taught me a bunch of things I needed to learn to get started. One of my valuable lessons was that sometimes you'll have a jerk for a manager and if you ignore his ego and listen to his criticism, constructive or otherwise, you can make a lot of money.
Above all things make sure you don't get in over your head. If they say you'll make 65k/year and you have to make 2k/week or your car is going to get repossessed, you might want to take a look at something else. Always be skeptical of what they're telling you. Ask to meet your would be manager and make sure the two of you could have a good chemistry together. Selling life insurance is almost a way of life and you'll need good coaching from someone you trust and feel comfortable with. If you can, try to find a company that you feel like you're on the same page with as well.
Again, this advice might only be worth what you paid for it, but it's all stuff I would have liked to have been told when I started.
I started my insurance career working for a company called National Income Life Insurance, other states will know them as American Income Life. What was nice about them is they had a nice enough product, fair commission, great training (which included a sales process) and fed me leads. I only left when they stopped feeding me the leads they had committed to. Here's what I wish someone would have told me when I started:
With anyone starting out in the life insurance business, unless you are either doing it with a salary or already have a large network of friends and family that will buy whatever you are selling, plan on putting a lot of sweat and blood into learning and then hopefully you will make some money (results may vary). You also want to make sure that you'll be getting EXCELLENT training. You'll need training on not only the product and how to meet people, but also need training on sales process and techniques. My first manager was really a jerk, but taught me a bunch of things I needed to learn to get started. One of my valuable lessons was that sometimes you'll have a jerk for a manager and if you ignore his ego and listen to his criticism, constructive or otherwise, you can make a lot of money.
Above all things make sure you don't get in over your head. If they say you'll make 65k/year and you have to make 2k/week or your car is going to get repossessed, you might want to take a look at something else. Always be skeptical of what they're telling you. Ask to meet your would be manager and make sure the two of you could have a good chemistry together. Selling life insurance is almost a way of life and you'll need good coaching from someone you trust and feel comfortable with. If you can, try to find a company that you feel like you're on the same page with as well.
Again, this advice might only be worth what you paid for it, but it's all stuff I would have liked to have been told when I started.
- 1,271
You are starting your own business. You can hire NYL or anyone else and pay them to help you. If they are no help, you fire them and find someone else or screw help altogether. Make sure your sales manager understands this.
Last edited by a moderator:
- 8,707
Unless things have changed New York Life is really geared to selling their Whole Life product. Now you can sell there 5 year term with the intentions of converting down the road. I haven't been with NYL in almost 11 years but back then their term was more costly than competing 20 year term policies. You can also sell other products through brokerage but if I remember correctly it does not help you meet your goals and if your manager is anything like mine was they will be asking why you did not sell them a NYL WL policy (putz) excuse me I have a lot of respect for NYL but a Whole life policy is not the solution to everyones problem.
bayoubelle
New Member
- 14
So what is the deal, is NYL commission only during training or not nowadays!?
FireDragon
Expert
- 38
They are commission only but do still offer TAS which matches 80% of your commission up to $30K I believe.
Solid company but REALLY geared towards whole life and not very competitive outside of that space. HOWEVER, they do have some really cool products on the annuity side if that's your thing.
Solid company but REALLY geared towards whole life and not very competitive outside of that space. HOWEVER, they do have some really cool products on the annuity side if that's your thing.
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