Originally Posted by mooch28 
1. Is cold calling a normal routine at this company or do they provide leads.
2. The second part of the interview process involves a market survey. Anyone done this, and how difficult is it?
3. Are there a lot of minor costs involved working for this company? I am reading conflicting reports.
4. How do they compare to Mass mutual or Met life.
5. What is the expected income in the first year?
I may have more questions, but i will start with these first.
Thank again guys,
Amit.
I'll take a stab at answering these questions.
1. They will want you to start with your warm, natural market. Sell them and get referrals. If you have a decent natural market and are good at getting referrals, you'll probably never cold call. You will need to develop other marketing sources to supplement this. As far as supplying leads, you may get some orphans, that is about it. BTW, this is pretty standard among NWM, NYL, MM, MetLife, etc.
2. The market survey is code for natural market. Some call it Project 200. Basically, list down everyone you know, and categorize them. They'll want you to start marketing to them first.
3. Depends on the
GA. I've heard some horror stories about some NWM
GA's getting greedy and charging for everything under the sun and a high rent. You can expect to pay some kind of office charge or rent at every large captive. How much and when depends primarily on the office. Some give new guys a break and/or base it on production. If you produce enough for the space you are using, no rent charge.
4. NWM will tell you they are the best thing since sliced bread. I'd say NWM, Mass, and NYL are basically equivalent. Mass has the better DI, but NWM and NYL move more whole life, so it may be a better product for them. MetLife will probably have you focus on variable annuities, term and universal life. Mutuals tend to focus on high reserve products, WL, DI, fixed annuities. Stock companies tend to focus on low reserve products.
5. I believe most will have you at 30,000 to 40,000 if you meet all the validation requirements. Maybe more, maybe less, just depends on the particular setup and requirements. Don't believe anyone who tells you that you'll make 100k the first year. That person does not have your best interests at heart, they are just looking for another new recruit. It is possible to make that much, but it is extremely unlikely.
The real issue you should be looking at is the manager. As I've said repeatedly, and I still believe: Among these companies, the manager has more to do with your success or failure than the company. You should be interviewing the manager. You need to ask about joint work, who will work with you, and what the splits will be. Ask to talk to other agents, both new and old. Also, talk to them away from any manager or office staff. The manager will probably try to have you talk to the happier, more successful ones. But probe, you can still learn about from them.
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Interview with Northwestern Mutual.
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