I had an interview at a local MOO office today and it sounds great. I know the name alone will be a benefit to help with sales. Just wondering if anyone has any input about them or anyone who is currently selling can give me their take on them. I have a phone in interview with Health Choice One tomorrow afternoon to discuss getting set-up with them. I just want to make sure I make the right decision on who to go with. I am currently licensed in IN & MI for life & health.
I used to to be a career agent, Great Company still broker for them. It all depends on who your district manager and GM are. Each Division is different and each office is different. I left because even though they claimed I was not captive, when I started writing health and the GM found out I was appointed by 5 companies outside MOO, I was terminated without notice or even a conversation. I was called unloyal and my contract terminated without cause. The funny thing was that my master builder award was in the box on my districts desk. 4 other agents were also terminated the same day. So now I broker the same products independently and get better initial commission, I don't get the production bonuses though. I really wanted to be a company man but when the economy got tough I had to feed the babies selling health. The only question I asked was what did I do wrong? I informed my district what I was doing from jump street, and he even told me where to get appointed, when his boss got upset? The answer silence. No hard feelings though, I am now doing better as an independent. The training was good, but I have had better.
When you go in the office look at the production board, if the office is rockin and has a history of solid numbers consider staying, like I said a great company. If you divide the NFYC for life cases, for an agent in half for the month and that is not what you need to make in the month run! Don't consider any numbers but Life, Disability and Longterm care numbers on the board either. These are the only numbers that apply toward your qtrly production bonus (New Agent Financing) requirements. A lesson I learned after I wrote 5 med sups and 2 annnuities the last month of my first quarter month. What...? it only counts as commission????? Not towards my production bonus. I was really sad.
The last lesson learned, Learn how to read an agent contract before you sign. I was new to the business and the commission schedule, new agent financing, deferred comp, etc, etc was really overwhelming. I learned the hard way, I had a friend in the business review my contract 6 months after I started and not everything was as rosy as I was told on the initial interview. Let's just say my DM used good sales techniques and accented the positive.
Remember this is not a job interview with a boss, this is an interview with someone who gets a slice of your production and a talent scout bonus to get you through your initial training. You are self employed, you need to watch out for number 1.
I appreciate your advice and insight on MOO. I have thought about what I want to be doing and do I want to go captive again or become independent and get help by going through Health Choice One. I decided that I want to go with Health Choice One and represent more than company. I appreciate everyone's advice.
How much experience do you have? Are you knowledgeable enough to run your business on your own? How will you generate business? What type of support with you get from HCO? Can you handle learning products from a bunch of different companies? What's your target market?
I've been selling health only for almost a year now. I know what needs to be done to run my own business and how to do it. I plan to generate business through walk/talk, networking events, buying some leads but that will be the last thing on the list I use to generate business. I have a great opportunity to hit the senior market as a company local to me offers services to the senior market and wants to me to help them in sales part-time to be their sales/face in the community and they are cool with me offering insurance advice while meeting with their potential clients. They are even willing to help with marketing material and also refer current clients who express needs for insuance to me. That could really help me get going. HCO offers a lot of training webinars on a daily & weekly basis, they offer free website set-up, and are available to call if questions arise. I also joined IHIAA which offers a lot of great advice and tips for the insurance business. The products will be a little rough but, that isn't anything that will slow me down I will start with just a few in each area learn those inside & out and add some others once I get going. HCO helped me in determing what products were the best sellers in the states that I will be selling in which helped out. My basic target market is going to be the senior crowd along with small businesses/self employed. I really only want to be focusing on medicare, life, and LTC. I will do health but, out of the gate not too hard till the great government figures out what the heck they are going to do about health care reform. Any other insight you can give that you might think will help would be appreciated. Thanks for responding to my post.
I used to to be a career agent, Great Company still broker for them. It all depends on who your district manager and GM are. Each Division is different and each office is different. I left because even though they claimed I was not captive, when I started writing health and the GM found out I was appointed by 5 companies outside MOO, I was terminated without notice or even a conversation. I was called unloyal and my contract terminated without cause. The funny thing was that my master builder award was in the box on my districts desk. 4 other agents were also terminated the same day. So now I broker the same products independently and get better initial commission, I don't get the production bonuses though. I really wanted to be a company man but when the economy got tough I had to feed the babies selling health. The only question I asked was what did I do wrong? I informed my district what I was doing from jump street, and he even told me where to get appointed, when his boss got upset? The answer silence. No hard feelings though, I am now doing better as an independent. The training was good, but I have had better.
When you go in the office look at the production board, if the office is rockin and has a history of solid numbers consider staying, like I said a great company. If you divide the NFYC for life cases, for an agent in half for the month and that is not what you need to make in the month run! Don't consider any numbers but Life, Disability and Longterm care numbers on the board either. These are the only numbers that apply toward your qtrly production bonus (New Agent Financing) requirements. A lesson I learned after I wrote 5 med sups and 2 annnuities the last month of my first quarter month. What...? it only counts as commission????? Not towards my production bonus. I was really sad.
The last lesson learned, Learn how to read an agent contract before you sign. I was new to the business and the commission schedule, new agent financing, deferred comp, etc, etc was really overwhelming. I learned the hard way, I had a friend in the business review my contract 6 months after I started and not everything was as rosy as I was told on the initial interview. Let's just say my DM used good sales techniques and accented the positive.
Remember this is not a job interview with a boss, this is an interview with someone who gets a slice of your production and a talent scout bonus to get you through your initial training. You are self employed, you need to watch out for number 1.
B8,
How did you get business while you were with MOO and how are you getting business now? I saw on another thread that somone was siaying that they were not considered captive and that they were selling other products while with MOO.
Its true that you are not captive, and it is also true that your DM will check monthly what companies you are appointed with. The office I was out of, was not that bad. As long as we were producing for Mutual, it was alright. I am on the broker contract now, and if I had it to do over again, I would have gone the broker route from the get go. If you have what it takes to be a succesful agent, you can make it completley on your own, as well as be captive or semi captive. That is my 2 cents.
How do you switch to a broker contract with MOO? I'm working with them now
Call a brokerage with no production requirements and get appointed through them. If you want to go the broker route you dont want a SM breathing down your neck anyway.
I got this offer from MOO. No training, although I think I could survive this. Want me to pay for block of orphan policy holders. I don't know if this is a standard or not. They will get me leads for 15 to 25 dollars a pop. Basically I would be on my own. Only thing would be the name recognition.
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