I Just Signed Up with CONSECO

2low4nd · 06-25-2009, 01:31 AM

I have read, all the older threads from 2007-2008 about this company going bankrupt over and over again. Conseco just hired me, Im going through the process of getting into there company with required testing to sell the insurance. The top sale are in my region, uppermidwest. But i do have a house, kids, and pets to look after. How does everyone look at the company at this point in time in 2009. They talk about high levels of income with our region and sales will come quick and fast. Im willing to go on and take the job and travel if it will pay more then i make now, mid 30s. But i dont want to put my family, house, or myself at risk. Everyone i have met seems solid, and like a great human being. But all in all im looking for outside input. Thank you.
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Anyone?

xrac · 06-25-2009, 07:23 AM

Welcome! Good luck! My impresssion on Conseco isn't good but then I haven't worked for them.

Pusher08 · 06-25-2009, 06:43 PM

Anytime you work for commission only there is a risk. Sadly, the truth is everyone won't make it. I've seen agents loose their cars, houses and lifestyle chasing this. But the upside is incredible.

The best advice I got when I first started was to treat this business like your training for the Olympic team. It's an individual team sport. Your flag is your company. Your events are your lines of insurance (they are all are individual events.) Your team are the people in your office. But once the games start it's all on you. If you win the company or country will be proud and give you all kinds of accolades if you flame out you won't even be mentioned and eventually be replaced. Just because Michael Phelps is on your team doesn't guarantee you any medals. Just because you might play hockey for Brazil doesn't mean you can't win either.

So I guess the point is that you have to take a critical look at yourself. If you have trouble with that ask your close friends and family what they think. But once you commit go 100% the whole time and require it from your management as well.

Good Luck

insgrl2000 · 06-25-2009, 07:35 PM

They pay good and quick. I worked the PMA work site division and the money is good, if your territory is over worked you have to travel somewhere that isn't. Good Luck !!!!!

*STIBROKER@AUSTIN.RR.COM* · 06-25-2009, 07:46 PM

Originally Posted by 2low4nd

I Just Signed Up with CONSECO

hahahahahaha.....

GreenSky · 06-25-2009, 08:15 PM

Originally Posted by STIBROKER@AUSTIN.RR.COM

hahahahahaha.....

Don't hold back. Tell us how you really feel.

Rick

jamesflou · 06-25-2009, 10:29 PM

I contracted with them. They have term policies that you can convert for the life of the term. They just dropped 30 year term length and ROP but that"s okay. They have a great product mix! You can help them back to the top along with myself. I did listen to a conference call with a lot of positive sounding information. Good Luck!

JamesCoon · 06-25-2009, 11:16 PM

They were almost bankrupt again a couple months ago. I don't know where you live but this company is a joke and has products that aren't competitive in my area.

padthaiforlunch · 06-26-2009, 12:43 AM

Originally Posted by 2low4nd I Just Signed Up with CONSECO

Originally Posted by STIBROKER@AUSTIN.RR.COM

hahahahahaha.....

jamesflou · 06-26-2009, 06:04 PM

Well it doesn't take much to find out about Conseco. They haven't received a bailout. I personally don't know of anyone who has lost the benefit of their life insurance policy whether it is a highly rated carrier or a B rated carrier like Conseco. Of course a couple of A+ carriers have the same rating and outlook as Conseco does at the moment due to their poor investment choices. Why are term policies so cheap compared to the face value of coverage? Because very few people ever have a claim against a term policy. Why do companies sell them? They make lots of money on term products. But for all practical purposes it works in ones favor to represent the best companies you can.
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You know what JC I find that a lot of companies may be competitive in one area and not another. It's based on claims experience. Just look at the Med Supp Rates. But I guess that's why we don't all represent the same carriers.

Markingriffin · 06-26-2009, 10:43 PM

Conseco is on the bottom of my list. I can't think of a worse company to work with.

JamesCoon · 06-26-2009, 11:07 PM

JF you can't be serious with that comment about A and B rated companies? The biggest difference for the client is price. Life ins from a B rated company is always more expensive then an A rated company. Also, a negative outlook from an A rated company is still better then a negative outlook from a B rated comment.

jamesflou · 06-27-2009, 05:13 AM

So you write the company with the lowest premiums. Even if you use the company that quotes their super preferred plus plus plans most people do not qualify for it. My old college roommate has been an actuary for over 20 years at a few of the top carriers. I personally have never written a Conseco product but I do know that especially term products are a What if or just in case proposition for the client. The rates advertised on TV are seldom underwritten. This comes from a person who designs the product on the basis of probability. I use to write for AIG. Top rated and some of the lowest rates but it was darn hard to get most through underwriting. Who is better off and insured client through a B company or a trying to get covered through A company?

TRK3031962 · 06-27-2009, 11:43 AM

Originally Posted by JamesCoon

JF you can't be serious with that comment about A and B rated companies? The biggest difference for the client is price. [COLOR=Red] Life ins from a B rated company is always more expensive then an A rated company. [/COLOR] Also, a negative outlook from an A rated company is still better then a negative outlook from a B rated comment.

That's a very bold statement. Always? You would have a very hard time backing up that statement with actual facts. It's just not true.

jamesflou · 06-28-2009, 09:12 PM

Yes I agree with you Todd. I think there are many companies with great ratings that have to raise there rates. Clients trust their agents and the companies they do business with even though there are companies that may have a lower rate for them. Just think why that may happen and it's easy to understand. Say 100 30 year old men buy a term policy for about 20 dollars a month with an average face of 500,000 thousand. If just 2 or 3 were to die in that block of business then that premium may have to be adjusted to cover the 1,500,000 thousand dollar obligation. This is only an example used by my actuary friend. The probability factors used are for larger blocks of people. With that said! I am concluding my discussion on Conseco. I look at them just like some looked at Shenandoah and Old Mutual a short while ago as well as ING. Things change sometimes.