Starting Career: Suggestions Please

[franticity]

Final expense agents have a field day just replacing NYL/AARP policies. They are easy targets.

The real AARP policies are not final expense. Too large and too much underwriting.

The AARP/NYL policies are not at all competitive and seniors cancel them as soon as an agent teaches them what they really bought.

What about their other products?

...their training, etc...?

 

[rizzle]

Be sure and let us know what MM has to say, and how it compares to NYL.

meeting with MM tomorrow.. i'll update what their deal is and how i think it compares..
the more i'm thinking and reading though i'm seriously considering working independent.
just a bit concerned with health/dental insurance for the family.

i wonder what would be involved with splittting from NYL.. i'm thinking it shouldn't be much of an issue.. i haven't gone full-time yet and haven't written anything.

 

[billberry12]

What so you mean splitting from NYL? I thought you were looking at options. Have you talked with Mutual of Omaha Career?
Did you find out the details of the health insurance and benefits with NYL?

 

[rizzle]

i signed on with NYL and got licensed through them back in June. currently studying for series 6. everything sounded good there and figured that was the place. I haven't triggered yet and as such not officially enrolled in the training classes.

then i find this forum and give some real thought into what insurance i want to begin to market.
It seems NYL wants you to just start it all including pounding businesses as well with all the financial aspects included.

I don't know, i just would like to focus on one segment and perhaps expand from there when i'm ready. I like things structured and concentrate on a few things at a time.

I'm going to NYL tomorrow for meetings.. i'll see what they say regarding benefits.

 

[xrac]

You may find some place that is a better fit but there are a lot of places worse than NYL you could have hooked up with.

 

[billberry12]

I agree. There are more bad places than good places in this business it seems. NYL is one of the better ones I'm sure.

 

[rizzle]

well back from both meetings today.
MM went better than expected.
- not captive.
- can use any carrier you want in best interest of client
- broker through ash brokerage for outside carriers
- full benefits day one no minimum requirements
- non mandatory training 2x week.
- commission was first 2yrs was something like 90% then 3rd year goes to 75%.
- renewals are 10%
- office is 12 miles from house

As of today i am finished with NYL.
there was nothing to the release b/c i wasn't full time. If i was fulltime he said there would be something to sign.

 

[VolAgent]

well back from both meetings today.
MM went better than expected.
- not captive.
- can use any carrier you want in best interest of client
- broker through ash brokerage for outside carriers
- full benefits day one no minimum requirements
- non mandatory training 2x week.
- commission was first 2yrs was something like 90% then 3rd year goes to 75%.
- renewals are 10%
- office is 12 miles from house

As of today i am finished with NYL.
there was nothing to the release b/c i wasn't full time. If i was fulltime he said there would be something to sign.

I suggest you reread what you were given. You have quite a few things wrong about Mass.

Mass most certainly does not pay commissions of 90%. Now, your bonuses might get you there, but that is a world of difference between commission of 90% and a commission of 50% plus a bonus.

Also, to get benefits you must be on a full-time contract. Generally you have a Contract B phase you have to go through first.

Also, you go write 50k in outside business and 10k in Mass business and see how long that lasts. You may not be captive, but you better bleed blue.

Now, that said, I like Mass. Its a good company and with a good manager you can go far there. What you didn't mention is anything about the manager. The manager there can be much more vital to your success or failure than the home office and benefit contract. At this point, you don't even know what you don't know.

 

[rizzle]

Mass most certainly does not pay commissions of 90%. Now, your bonuses might get you there, but that is a world of difference between commission of 90% and a commission of 50% plus a bonus.
yes, you're correct. i was stating what the total was with the match.

Also, to get benefits you must be on a full-time contract. Generally you have a Contract B phase you have to go through first.
Haven't found that out yet. I will inquire.


What you didn't mention is anything about the manager. The manager there can be much more vital to your success or failure than the home office and benefit contract.

Totally agree here. I haven't met him yet. Have been told he is available at all times and will go to the appointment to close the deal if needed.

Again, thanks for the input and anything else you can think of please let me know..

 

[xrac]

I suggest you reread what you were given. You have quite a few things wrong about Mass.

Mass most certainly does not pay commissions of 90%. Now, your bonuses might get you there, but that is a world of difference between commission of 90% and a commission of 50% plus a bonus.

Also, to get benefits you must be on a full-time contract. Generally you have a Contract B phase you have to go through first.

Also, you go write 50k in outside business and 10k in Mass business and see how long that lasts. You may not be captive, but you better bleed blue.

Now, that said, I like Mass. Its a good company and with a good manager you can go far there. What you didn't mention is anything about the manager. The manager there can be much more vital to your success or failure than the home office and benefit contract. At this point, you don't even know what you don't know.

MM is a very good company and would be one of my serious considerations.