Northwestern Mutual - Is This Possible?

[NMFNMDRT]

Is this what they are doing in training now? It's been about 4 years since I've been in there, but every intern is coming out expecting to write 20 lives over the summer with no problems...

Let me tell you this...I started in the internship and worked my ass off for 3 months and sold 12 policies. None of those were joint work, and I was completely on my own. By the fall and spring semester of college was done for me I wrote 20 policies. I had no idea what I was doing, and that had a lot to do with it, but these expectations of 20 lives are for the most part unrealistic for interns in that time frame.

 

[Bitnis]

That sounds like a reasonable goal for a three month period. Only problem is, they will probably have them calling their friends and family for appointments.

 

[xrac]

Is this what they are doing in training now? It's been about 4 years since I've been in there, but every intern is coming out expecting to write 20 lives over the summer with no problems...

Let me tell you this...I started in the internship and worked my ass off for 3 months and sold 12 policies. None of those were joint work, and I was completely on my own. By the fall and spring semester of college was done for me I wrote 20 policies. I had no idea what I was doing, and that had a lot to do with it, but these expectations of 20 lives are for the most part unrealistic for interns in that time frame.

This is smart on NMFN's part. In three months they can weed out all interns unlikely to succeed. The policy that are sold help create a reserve of orphan policies for more experienced agents to service and second sell. It sounds like the program is more about NMFN than the intern.

 

[VolAgent]

You honestly think it is realistic for a college student to write 20 lives in 3 months with absolutely no experience in the industry? It will take a month just to ramp up, that leaves two months to write the policies, get them through underwriting, and get them placed.

The only chance he has is to get these people lined up and ready to buy before they turn on the 3 month period. Even then, he is really going to have to hustle. That or by lives they mean policies, like Mass. Then he can write a term and a WL on everyone and cut the numbers in half.

 

[Bitnis]

It's a realistic goal to set in order for any of these people to make a living. Whether it is attainable or not is another story. I don't know too many people who can afford to make less than $2k per month.

 

[BNTRS]

I also get the feeling that he's looking for a company name to add to a resume once he graduates. It should be noted that internships at insurance companies like NML are of limited use after you graduate unless you remain in the insurance industry. Otherwise, kind of like credits from ITT Tech, not likely to transfer...

 

[JMar]

You don't have to do all joint work. You also get an award for 10 lives, if thats what you are after. 20 lives in a summer is completely doable. If you HELP the client you'll get referrals. I'm in the internship and i fully expect to hit 20 lives this summer, I'm halfway there after 2 weeks. This is what I want to do and I feel like I am helping people. If your heart is not in it and you just want an award I've got some recruiting e-mails from Liberty National i'll forward you...hahaha

 

[CFP83]

I'm in the internship and i fully expect to hit 20 lives this summer, I'm halfway there after 2 weeks. This is what I want to do and I feel like I am helping people.

Good for you vnixnj & JMar, the two of you have picked arguably the best company in this industry to train you and give you the tools you need to create a wonderful career. I love to see people like yourself that have found a passion within this great business.

This summer lives contest for those in the internship is a tough undertaking. I was fortunate enough to write 20 lives as an intern as well, and can appreciate just how hard you guys are working to accomplish this very tough goal. When have that kind of activity as an intern you'll be ready to go "full-time" and write 100 lives your first 12 months as a full-time agent. During my 5 1/2 years at Northwestern Mutual I had a blast, made numerous life-long friendships with other producers across the country, all while learning the success formulas for this industry. It was a fun ride from college intern through 5 year rep, that was highlighted by being a speaker at one of Northwestern's company meetings last year just before leaving to become an independent advisor.

Whenever I get the chance to speak with younger reps from NML or other companies I always share with them what I feel is the most important thing to learn in your early years: Get up every single day and take a moment to get 100% focused on what is "THE ABSOLUTE BEST THING" for those people you will be seeing that day. If you are truly honest with yourself it will not always be a Northwestern Mutual product. So whether you stay at NML and occasionally offer other products where they make more sense, or whether you one day go independent, just do good by every man and woman you come in contact with by following this one simple rule....THE ABSOLUTE BEST THING. Our industry needs more and more passionate people like yourself, but also need those people to not be company "kool-aid drinkers" but instead be something far more important..... their client's financial advocates.

All the best

 

[bdagent]

a long long time ago W. Clement Stone proved through an experiment with his agents at Combined Insurance that if you ask 60 people on the street "you wouldnt be looking for some insurance would you?" that one will say "why yes actually i would like some insurance".
That has got to be the most god awfull aproach, but if you really want to find 40 policies in your first three months and do not take the previous advice of buying leads, give it a whirl.
Leads would be much easier....and make more sense than the stupid top 200 approach they are going to feed you.

 

[vnixnj]

Perhaps the way things work in the tri-state area here in NJ/NY is a bit different than the others in Northwestern. Unfortunately for me, joint work is not an option but a requirement. I asked one of the field directors who indicated that they don't intend to have interns write 20 lives (40 closes total in joint work) in one summer. I did the calculation and it was even more ridiculous than I anticipated.

So with joint work accounted for, the expectation is still about the same if I stay for the fall semester as well as the summer - 20 lives for 10weeks period of time. I have 50 days to prospect, telephone, have a meeting just getting to know the client, provide needs analysis, have on average 2 closing meetings. All this with training one day out of every week for 10 weeks. It's pretty much 40days at work over the summer, writing 20 lives, and only when our joint work authorized full time reps are available.

All in all, I'm glad at least some people are providing feedback in regards to not reaching out to my friends and family. I've been going to their training session for the last 5 days and my suggestions on reaching to people outside of my networks have been beaten down brutally and it's been tough realizing that all the other interns have seem to have been convinced that their friends and family are the only way to go. It's scary how fast these motivational speakers can convince you to start out with your own networks - I think I heard a lot of "Rolex" and "6 figures in first year" in their speech.

Oh, and internship contract is up for termination if we are caught cold calling and now this is definitely not what I signed up for. All of the ideas that I asked in this thread that basically helped me realize that all I have to really do is work much harder than the other interns who can leech off of their moms and dads is completely ruined.

I'm 100% convinced that the Northwestern way works. It just blows that they don't allow for any other methods to be used for mere interns so that they make sure to lock in the parents. I personally would never sell to my friends and family and that is just the rule that I had for myself when I came into this business. I think even if you wanted to sell your soul to the devil for personal success, there are ways to **** on people you don't know for your own success, not your family. This is of course, just me. Some of these agents consider themselves as helping others and providing that service to people they care about first. Only nobody thinks of you that way until they die.