Starting at World Financial Group

I don't think you need a sponsor to sit for the life license but of course I could be wrong. Producer Types and Requirements

As a suggestion it might be a better idea to combine the Life and Accident & Sickness rather than just take the life alone. as for the contract it's kind of hard to know what to look out for without knowing how the agent contract reads. Most everyone has access to the same carriers so the devil is in the details of the contract.

As you have signed some forms be careful what you post on an open forum because you may say something that is confidential company info. which you may not know about. As you have informed someone that you post on this board, someone is watching.
Thanks for the link.

The contract is basically just for a background check and agreement to conduct myself in an ethical manner, like not selling anything until I get a license. It says I'm an agent that work for them, but nothing about having to work for them exclusively.

They don't know I post here and I never even mentioned this forum to them, so no worries there.

Non-competes are illegal. That is true.

What about a non-solicit agreement? It could be a radius from your home or a period of time or both? Check for that.
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Ask them if you can contract with any insurance company who isn't affiliated with AEGON.
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Their terminology is wacked. They don't get it. They say they're "non-captive" but that just means that you can work with many carriers represented through their broker dealer.

If there's a selling agreement, you can sell it.

If there ISN'T, you won't be able to sell it.

Check on that.

You're being very specific with them... and they have no idea about this kind of stuff.

The fact that they DON'T KNOW shows you the level of "professionalism" they have.
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Keep in mind that if you contracted outside the broker/dealer, then your upline won't get paid! Do you think they want to encourage that?

No non-solicitation or anything like that. It doesn't say about any other broker/dealer or even about other business in the same line of industry. Actually, I don't think it says anything about the products, only not to sell them without a license. No dates either, so I can pretty much put it off indefinitely. Everything else is verbal, like how the reimbursement is only if I finish the licensing test within 90 days. Heck, no comission rates either, only what they told me.

In retrospect, I probably should have scanned the contract. Even if there's not much, there could be a detail I might trip over.

I doubt my aunt would be bothered too much about not getting a cut of my commissions as my upline, as my two fellow "recruits" are my uncle-in-law who has no interest in this and my 6-year-old cousin. We count towards her qualifying for the next level though. She also has many prospects in mind.
 
GCast there's much more to consider than what's on the surface of just if you should join WFG.. You really have to look at the promotion guidelines, the commission structure and look out for any requirement gotcha's. There is a possibility of you building a team and generating a very nice income but at some point you may want to leave for whatever reason and may not be able to because of the hit on the immediate income.

I have talked to other people in other organizations who didn't like where they were, but due to their responsibilities they couldn't leave or just didn't and to start over again. That's one of the reason's why it's very important to understand what you can take with you if you leave per contract.

Your going to get hit with a bunch of rah, rah, that's basically an industry given. But no matter what anyone says the contract is the truth. Now here's a little known secret everyone understands but may not think about. Many people don't read their agent agreements until they have an issue. Then it's the Gomer Pyle syndrome..Surprise, surprise, surprise..

Your Life/Accident sickness license can allow you to live a very good lifestyle but some things you will have to learn the hard way just as most of us had to. For the series 6, 63 you will need a sponsor, but for the series 65 you don't.

Don't take your decision of coming into the industry lightly. If WFG isn't a fit for you another place just might be. I don't know your age but there's a shortage of agents and the baby boomers are going to be retiring in huge numbers in the coming years.

Everyone has to start somewhere. One major consideration is training. For the moment if you plan to go forward in the industry concentrate on getting licensed. Everyone at some point gets got, that's how we learn.
 
They actually start at 25% and top out at 65% for most products.
 
I've meet 2 CPA's that were working with WFG. Both were licensed in life & health so that they could get commissions. After I said I split deals with the refering CPA they asked how I could afford to do that. I stated that a 50/50 split was fair and what are they getting currently. Max 30%

Don't like the idea of them being an MLM. They were rather upset that I took 2 of their CPA's as well. I got a nasty call from their manager asking "what the big deal" was. I stated perhaps its your ripping off your CPA's. We haven't spoken since...

Well I don't suggest it. When you compare independent or even captive with other companies you'll see what a lot of people mean.
 
The only reason you would want to join any MLM is for the ability to create your team / downline. The system to do it is already in place.

If that is not in your plans go independent or join another organization.
 
What's interesting is that most of the posts that I see about WFG are either old, written by someone outside, written by a competitor or by someone who didn't make it. So let me give as impartial a review as you are likely to get. This industry teems with sharks. They work for every company in the business. The companies are not the problem. It's misinformation and individuals. Is it possible to properly serve families and make incredible money at these companies. Yes. Is it possible for someone to get taken advantage of in ANY company that deals with money. Yes.

The facts are not gathered via blogs. Those are opinions. Not facts.

The average primerica agent based on salaries paid divided by number of agents is 600% less than the average salary of World Financial Group. Why? Because Primerica sells one type of insurance from one company (Itself) and is over priced. It was an effective model 20 years ago. Now it's outdated and hasn't changed with the business.

My personal opinion is that working for one insurance company when there are hundreds limits your selection. That makes you non-competitive.

Next point:
Forbes newsstand special issue of the 400 richest people in America from October 7, 2013 on page 153 shows a fold out of 28 WFG individuals who earned over $1 million in the last 12 months and 55 who earned over $500k in the last 12 months. Not an opinion.

Are these guys criminals? No. They are fully licensed and accredited professionals who help families. Owned by Aegon, a huge international financial firm.

Next point:
Some people make it. Lots don't. Quality of the office and the trainer is huge in determining success. So is the work ethic of the individual, their credibility and their fortitude.

I thought it was a scam when I first saw it. Then I did research. Real research not google. Then I took it into my own hands and know it works because I have made it work.

The traditional industry is also designed to take advantage of the newbies, just do your due diligence. What makes a difference in any firm is the ethical caliber of your office.

Nuff said.
 
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