Help Mass Mutual or Met Life I Need to Make a Decsion

taiko · 03-11-2009, 07:37 PM

I was offered a position with both Mass Mutual and Met Life. I currently work for John hancock but am unhappy and want to leave.

I need to make a decision fast and both have pro's and con's. If anyone has any experience with either of these firms I would really like to here some feedback.

Met Life Pro's:
$800/wk base for 19 weeks then commission. They also provide some in house leads and orphan accounts. sales and management team look good. Much better than what I have now.

Con's: It is a 1 hour drive from my house to the office.

Mass Mutual:

Pro's: It is a 15 min drive from home. Sales and management team is the fantastic and much, much, stronger I feel.

2K a month for 3 months, then 1 K a month for the next 3 months, but I have to submit 5 apps and 5K in premium to qualify for financing. Also greater enhanchments on production down the road.

Con's: I do not think they give you any leads, but I may be mistaken. If I leave at any time during my first 3 years to another firm I have to pay back 50% of all salary and enhancment's.

In summary, I think the team at Mass Mutual is much better, and it is around the corner. However as a new agent I really need a base salary to support myself and some in house leads besides relying on friends/family/cold calling in the beginning.

Has anyone worked for these firms and can perhaps help me with my decision.

Thanks

TRK3031962 · 03-11-2009, 08:32 PM

Met Life:
Pros: Training, A paycheck while you're learning.
Cons: Captive

Mass:
Pros: Training. A paycheck while you're learning.
Cons: Captive

Now, you say you've been at JH. So that tells me you may not need training. If not, well there goes the Pros.
Either way, the Cons still remain. Captive is for the agent that doesn't realize that he can do the exact same thing and make more money and also have more products that may be a better fit for the client. Not saying that Met and Mass have bad products...just that there is no one company that has the best product for everyone. Even having multiple companies will not get you a good product for everyone, but it sure gives you a greater chance!

taiko · 03-12-2009, 05:43 PM

I know that captive is a con, however I was interested in hearing anyone's experience working at either of these firms before I sign the contract.

Met sounds very appealing to me because the 800/wk for 19 weeks will certainlly help in the begining, also they told me thay have in house leads generated every day wich sounds appealing as well.

EDM · 03-12-2009, 07:11 PM

Do all MetLife agencies offer $800/wk?

thespur1 · 03-12-2009, 11:05 PM

Go with Mutual Of Omaha lol
Their great

eric rose · 03-14-2009, 04:10 PM

Taiko,
I'm a Met rep in NJ and probably have interviewed in the same offices. I chose Met over offers from Mass and NWM. The new agent financing can actually be up to 1300 per week for 19 weeks but there are production requirements. There are many independent options available to a "captive" met agent. Some hoops to jump through with compliance but in my experience, they are the most willing captive to allow outside business. I'm more than happy to share my feelings and reasoning with you. Feel free to email me at ericr962@aol.com.

Eric

xrac · 03-14-2009, 06:04 PM

Originally Posted by taiko

I know that captive is a con, however I was interested in hearing anyone's experience working at either of these firms before I sign the contract.

Met sounds very appealing to me because the 800/wk for 19 weeks will certainlly help in the begining, also they told me thay have in house leads generated every day wich sounds appealing as well.

Based upon what you have said MM looks to be the better place. The only advantage with Met is you have to produce less at the start but it is a much more captive situation. I would rather be with MM long term.

covermerich · 04-23-2009, 05:51 PM

Originally Posted by EDM

Do all MetLife agencies offer $800/wk?

right yes!, i just went to their open house in Baltimore, MD and that was what was discussed. So I strongly considering, due to their management support and flexibility (need cash now), bills are piling up...

padthaiforlunch · 04-24-2009, 12:57 AM

Originally Posted by taiko

Met ... have in house leads generated every day wich sounds appealing as well.

If that is the reason for going there you might as well quit the business.

You need to be on the phones and on the streets cold-calling. $5k in premium is very achievable if you work it every day instead of hanging around the office wishing for better leads.

MM has very good whole life product. Their UL is pretty good too.

The decision should come down to who will have the better mentoring, since you still feel the need for training.

Chances are you will find more leapers with MM.

lyndell · 10-19-2009, 09:19 AM

I like Metlife

JosephDeacon · 10-19-2009, 05:43 PM

Mass is not a captive outfit; you can write outside business with them. Of course, it may not go towards your contract, but they do offer plenty of flexibility. At least this has been my experience.

gettingstarted · 10-20-2009, 08:04 AM

So is the $800/wk with Met based upon anything? Like with MM or Guardian you have to qualify or validate to start on the "salary"... Or do you just start getting that straight away?

And is Met strictly Life or do they do more comprehensive planning like MM and Guardian does..?

MIBizInsurance · 10-21-2009, 03:50 AM

Ask alot and I mean alot of questions.

Make sure you understand the salary set up. Met will want and expect you to rape your warm market for leads. Hell, they will throw a party and expect you to fill it with friends and family. This is true.

No matter do a search as a ton of info. on all these companies.
They expect you to pressure friends/ family to buy. Then once you fail and odds are you will those folks are passed along to the senior agents.

Grill em with questions as your putting you butt on the line financialy and rep. wise.

Remember these companies hire just about any one. They tear through your warm market.

Hate to be a downer but see alot of threads here regarding these oh so fine companies and want folks to be aware.

VolAgent · 10-21-2009, 03:57 AM

Originally Posted by gettingstarted

So is the $800/wk with Met based upon anything? Like with MM or Guardian you have to qualify or validate to start on the "salary"... Or do you just start getting that straight away?

And is Met strictly Life or do they do more comprehensive planning like MM and Guardian does..?

What I was told is that Met would give you 75% of your previous salary, up to $800/wk. Also, it was for 19 weeks (I believe), and there were no conditions on it. It was a straight salary, not a draw or anything else. The salary is subject to GA approval. FYI, many of the major carriers hold the GA responsible for financing loss. Basically, if the new agent doesn't do well enough, they'll charge the GA for part or all of the financing given to the agent.

I would say Met's approach is probably dependent on the agency/office. The one I interviewed at claimed to be comprehensive. But when you pealed back the onion, they were focused primarily on variable annuities. Absolutely nothing wrong with a variable annuity, but there is more to planning than just a rollover into a VA.

MIBizInsurance · 10-21-2009, 04:08 AM

Regarding the Met salary- Ask if you will be required to pre-sell products before onboarding?

Meaing- Do I have sell product before salary kicks in?

Do I have to "introduce" family/friends to a senior agent before hire date?

Read the offer letter and then re-read it. As the person above mentioned offices have le-way but in the end it's all about profit.

scagnt83 · 10-21-2009, 09:40 PM

For a captive contract Mass is better. Mutual of Omaha actually has the best captive contract as far as the bonuses or "base" goes, but as a company they are marginal.
Most captive agencies allow you to sell other carriers, but it just cant be a competing product, or the captive company has to deny the client before the agent can use a competing product from another company.

But if you know that a captive contract is a rip-off, why are you pursuing it?? Get a contract with a brokerage firm and then you can sell JH, Mass, Mett, and a whole bunch more!!

If you can provide your own office space you can contract through my firm. We offer backroom and planning support for independent agents, along with a long list of all the top rated carriers.
My closing ratio increased more than 50% after I went independent and was actually competetive and bringing the most appropriate product to the table!

Pm me if you want