Hi, I got my insurance license a few years ago and joined Aflac, I didn't really get trained and then i got a job because i couldn't wait for a commission, right now I would really like to do this insurance but hoping you would give me your opinion on the companies I'm considering,,which would you choose...mass mutual, metlife, western south, or a broker, there is one broker willing to train me but he markets mostly assurity and he said he will not give me any advance but will pay commission broken down in 12 months.
Hi, I got my insurance license a few years ago and joined Aflac, I didn't really get trained and then i got a job because i couldn't wait for a commission, right now I would really like to do this insurance but hoping you would give me your opinion on the companies I'm considering,,which would you choose...mass mutual, metlife, western south, or a broker, there is one broker willing to train me but he markets mostly assurity and he said he will not give me any advance but will pay commission broken down in 12 months.
I suggest a broker! You will get a much better portfolio with a broker! That being said, you need to interview companies and see what they have to offer. The broker does not need to be in your state, since most brokers can do business in all 50 states. You just need to make sure they can provide you with training, support, a good team building structure, and a good commission. If you can get that, you can get a broker in any state. It is nice to have someone local, but it's not necessary!
I tried that but the broker i talked to over the phone talked so fast, honestly i wish i can learn it the way i've seen it done a long time ago, where they actually go with you out on the field a few times. i've lost so many potential customers in my families/friends because i can't seem to get this going. i just need to be trained , i don't even know how to get them an exam really, or explain which products is better. i signed up w/ this company , they were in southern ca and their main company was aig..anyway i really want to be trained..anyone know much about MASS MUTUAL..BTWN MASS MUTUAL OR METLIFE , WHICH IS BETTER? I may go w/ the broker..but really i'm thinking i might get better training w/ captive company..please share your thoughts.
I tried that but the broker i talked to over the phone talked so fast, honestly i wish i can learn it the way i've seen it done a long time ago, where they actually go with you out on the field a few times. i've lost so many potential customers in my families/friends because i can't seem to get this going. i just need to be trained , i don't even know how to get them an exam really, or explain which products is better. i signed up w/ this company , they were in southern ca and their main company was aig..anyway i really want to be trained..anyone know much about MASS MUTUAL..BTWN MASS MUTUAL OR METLIFE , WHICH IS BETTER? I may go w/ the broker..but really i'm thinking i might get better training w/ captive company..please share your thoughts.
You can always get training from the carrier if you like. With life insurance, it's so simple that taking you out to the field would be a waste of time. Medsup, MA, and group policies are more complicated; but if you are selling normal Term, Whole, or U/L then all the training you need can be done over the phone. Seriously, call your FMO and force them to train you. If they refuse to train you, then I suggest you look for a new FMO.
As for life carrier, I personally work with Union Banker's Life, Americo, Fidelity, and west coast life for the standard stuff. I use others for FE and LTC, but that's another subject! Good luck and if you are still having trouble with getting training then get in contact with the carrier directly AND changed FMO.
What is fmo and ga, what does ga stand for and how do you find these people
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That's your first problem,never work your family and friends right out of the gate.....
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Sorry, in response to that response..."That's your first problem,never work your family and friends right out of the gate.....from stibroker....they would've bought for me, were waiting till i figured out which product to sign them up with..but never got to that bec i haven't figure out which products and how to do this...again ..what is fmo and ga and how do i find them...please tell me what this stands for...ga is general agency or agent , right,,can't figure out what fmo stands for.
Last edited by insurancemet : 10-19-2008 at 04:49 PM.
Reason: Automerged Doublepost
what is fmo and ga, what does ga stand for and how do you find these people
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That's your first problem,never work your family and friends right out of the gate.....
- - - - - - - - - - - - - - - - - -
Sorry, in response to that response..."That's your first problem,never work your family and friends right out of the gate.....from stibroker....they would've bought for me, were waiting till i figured out which product to sign them up with..but never got to that bec i haven't figure out which products and how to do this...again ..what is fmo and ga and how do i find them...please tell me what this stands for...ga is general agency or agent , right,,can't figure out what fmo stands for.
Ok let's take a step back. If you work directly with the carrier then you probably have a direct contract or a GA contract. An FMO is a "middle man," organization that you use to get to the carrier. The advantage of this is leverage. When you submit business to the carrier, you may do 10 policies a week (just to use a arbitary number) and you will get a 70% contract (again, an arbitary number.) However, if you run your business through an FMO and they submit 300 policies per week, they will probably be at a 120% contract and they can probably afford to give you an 80% or even 90% contract. So you benefit because you get a better contract, and the FMO benefits because they get to keep a small overide off of you.
The purpose of an FMO is for them to train you so that the carrier does not have to train you. That is the main idea behind an FMO, and if your FMO is not providing you with training and support then find a new one. In other words, when you write an insurance policy -are you turning it into someone other than the carrier. How did you get contracted with the carrier? Did you call them directly or did you call someone else to get to them?
If you call the carrier directly, the SHOULD provide you with support. Some carriers will not support you directly if you go through an FMO, because you are suppose to be getting training from your FMO. If you are going directly to the carrier and have a GA contract; and you feel you are in over your head - then I suggest you go through an FMO. There are many good FMOs on here, and if you'd like some advice; I'm sure lots of us would be willing to give you some recommendations. Are you selling mostly Health, Life, or Medsup?
Thanks for being so helpful , that guy! How do I find, where do i find FMO, does this mean i can stay independent and get together with different fmo that deals with different carriersand don't have to be captive. I live near SF, CA...
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Oh, I forgot to answer your other question, right now i want to focus on life...health later.
Last edited by insurancemet : 10-19-2008 at 09:55 PM.
Reason: Automerged Doublepost
Can you suggest some good IMO's or FMO's for Medicare Advantage and Life Insurance? How do you feel about Senior Market Sales, Ritter and Crump?
SMS was and is a good organization. Craig Ritter at www.ritterim.com knows more about Medicare and products than anyone I know and he has most of my contracts. Crump does not do senior that I know of.
Rick
------------------------------------ ILIAA
Training, Community, Support, and Success Independent Life Insurance Agents Assn rick@iliaa.org
I am new to the business also. I just spent alot of time researching FMO's. So from on newbie to another, i found two that seemed to be really helpful. I personally went with Mountain Financial, based in Colorado. And the forum here actully endorsed another one called, BrokersAlliance. They looked good also. You can google them, to find there site. They both offer alot of carriers, and really nice online features.
It is my personal opinion that there are no "bad" FMOs. It is my opinion that the right person has to fit in with the right FMO. I have a friend in the industry that makes an TON of money as an FMO and if you were to see his office, you would never know. He has 1 secretary, and 1 office assistance and his own office; that's it. On an MA contract, he keeps $25 dollar of the agency side and pays out 100% of the broker side in addition to any additional money he gets as the agency. In return, he provides practically no support whatsoever. There is no product training, no sales seminar, no motivation calls, no leads, no NOTHING. His FMO is designed for agents that want to produce as high as possible without having to share with the agency. He does offer team structure and you can build a team overide, but he still only keeps $25 per application on the agency side. His agency writes tons of business and he is filthy stinking rich!
Then I have another associate that has an FMO that provides you with the upfront leads, the product training, as well as a mentoring program. They will pay for your leads up front then take it out of your comission, which is a great way for newbies to get started without any income! His agency, does a good amount of sales, but no where close to what the other agency does! The reason you ask? Simple - it's a differnt fit for different people.
What you have to ask yourself is, What are you looking for in an FMO. There are lots of FMOs that have bad names that are actually very good, and lots of FMOs that have good names that are very bad. It's not because they are good or bad, but they have a different structure and different mentality for different things. In other words, you have to see if what you are looking for can actually be provided. Do you want a super high contract with no support, or do you want a lower contract with support? Are you looking to build a team? Do you have the discipline to work with an out-of-state FMO, or do you need someone local? If you have the discipline to work on your own WITHOUT an office staff, you can substantially increase your FMO selection. If you think you need someone local, then find someone there that can help you person to person.
THANKS, BUT REALLY MY PROBLEM IS NOT SURE WHERE TO FIND THEM, DO I LOOK IN THE PHONE BOOK AND JUST CALL AN INDEPENDENT AGENCY AND ASK IF THEY ARE AN FMO OR IF THEY HAVE ONE, FIELD MARKETING ORGANIZATION, STILL NOT CLEAR DIFF OF THAT AND GA..REALLY I'M JUST TRYING TO FIGURE OUT HOW , WHERE TO FIND THEM..AGAIN,,,,WHERE..??? THANKS FOR RESPONDING AGAIN..PLEASE RESPOND AGAIN. THANK YOU.
Hi, I got my insurance license a few years ago and joined Aflac, I didn't really get trained and then i got a job because i couldn't wait for a commission, right now I would really like to do this insurance but hoping you would give me your opinion on the companies I'm considering,,which would you choose...mass mutual, metlife, western south, or a broker, there is one broker willing to train me but he markets mostly assurity and he said he will not give me any advance but will pay commission broken down in 12 months.
go with a broker!! if your in CA I can hire you for commish only.i specialize in small business.
I sent you a Private message with my phone number. I know you can't respond since you don't have enough postings, but you are welcome to call me. I'll be glad to make some recommendations based off of what you plan to sell.
When I was looking for a job, I had several talks with Metlife Home and Auto. They seemed like a great company, and offered a good amount of support. Unfortunately, their auto rates were actually over a hundred dollars more a month then the next highest company.
Help me decide
Good luck and if you are still having trouble with getting training then get in contact with the carrier directly AND changed FMO.
I live near SF, CA...
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