Hello all, this is my first posting and I am very glad to have found this forum, its already helped a lot! Recently I interviewed with both Farmers Insurance and Mutual of Omaha, from what I have already read on the forum, Mutual of Omaha is preferred by the majority. I understand that one is home, auto, and life while the other (mutual of Omaha) is more focused on the life and health aspect. Could you give me anything you know about the two companies and also tell me why selling either home/auto or selling life/ health is better. Thanks so much!
I was a Farmers Agent, jumped thru the hoops and ended up not liking it. The money is not good and the hoops are uncomfortable to jump through. I am now an independent who sells for many companies, including Mutual of Omaha. I have had only good experiences with MoO. Any problems with policies and client issues have always been resolved, they have decent agent support and they pay fair commissions. I assume you are looking at the captive side, which I know nothing about, but I do know about Farmers. I would choose MoH.
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Chuck
If you think your boss is stupid, remember: you wouldn't have a job if he was any smarter.”
Thanks a lot for the reply patch, I appreciate hearing about others experiences since I have none myself in this field. It seems to me that Mutual of Omaha is a lot less strict in their initial sales which would seem to be a better learning environment. I have read lots saying to go directly into independent but I feel it would be best for me to start a little more structure, with a mentor, ect. I guess one of my biggest worries I have now is trying to find customers from the life/ health. I know lots of people that would likely buy car/ home insurance from me and less that I feel would buy that stuff. I suppose people you know dose not go very far in the way of your overall commission though (I.E. need to get lots of other leads to be sucessfull).
Oh yes I do have another, I could not figure out how to delete it or change the screen name so I ended up just creating a new one, if there is a way I will clean it up
Thanks a lot for the reply patch, I appreciate hearing about others experiences since I have none myself in this field. It seems to me that Mutual of Omaha is a lot less strict in their initial sales which would seem to be a better learning environment. I have read lots saying to go directly into independent but I feel it would be best for me to start a little more structure, with a mentor, ect. I guess one of my biggest worries I have now is trying to find customers from the life/ health. I know lots of people that would likely buy car/ home insurance from me and less that I feel would buy that stuff. I suppose people you know dose not go very far in the way of your overall commission though (I.E. need to get lots of other leads to be sucessfull).
Home and Auto has become for many consumers, a commodity they buy based on price. The premiums are low so the commissions are small. It takes a boat load of P&C to make a living. You sell a life policy or 2 a week and you will be living large. Marketing is a whole nuther subject, but you will have to find your own way with that. MoO will help you with it and after you have learned the ropes, found a niche, you can make your own decisions about independent vs. captive.
Thanks again patch, that makes much more sense than anything I have been able to find looking through the forums. I didn't understand what a large difference there was in what you make for P/C versus Life/ Health aspect. Two a week seems like a pretty attainable goal. What kind of a salary would be produced from that level of sales? Does anyone have experiance working for Mutual of Omaha?
I wouldn't waste my time going captive. This business is not that difficult if you can read a brochure and know sales.
A lot of those company offices don't really give any real support and they take plenty off your efforts.
Make it on your own. Sink or swim. Jump in with both feet and learn. It's all on this forum.
Good luck.
It's people like you who encourage these new guys to go independent that make life hard for the rest of us. I am sick and tired of competing for business. It is getting to where there is no low hanging fruit left on the tree and with all these washed up and out mortgage guys looking for easy money... I'm about ready to start selling arthritis kits
Do a search on this site, there are tons of threads on mutual or MoO for short... I worked for them before. I think the training can and will be good, depending upon your manager.
No worry's mate.....just stick to posting under one name and its all good.....
Originally Posted by Lantis
Oh yes I do have another, I could not figure out how to delete it or change the screen name so I ended up just creating a new one, if there is a way I will clean it up
Thanks again patch, that makes much more sense than anything I have been able to find looking through the forums. I didn't understand what a large difference there was in what you make for P/C versus Life/ Health aspect. Two a week seems like a pretty attainable goal. What kind of a salary would be produced from that level of sales? Does anyone have experiance working for Mutual of Omaha?
Forget salary. If it is anything it is a draw or annualized commission. Realistically you will probably do somewhere between $20,000-$40,000 your first year if you survive. You can do better but very few first year agents do.
Sorry about that, salary was a horrible word choice. What I intended to say way how much annual income can I expect to make, which I know is not the same thing. You already answered that question though so thanks. I do intend to go with 100% commission I think the extra incentive will be a very good motivator for me.
Yep, 20-40K is very realistic. If somebody starts talking six figures, they are usually full of it... it can be done the first year, but not realistic. Now, after five or ten years, with renewals, yeah, six figures is way more possible..
I really like the idea of having a job that I could potentially make 6 figures if I work at it, sounds like it should stay interesting for quite a while.
In your experience do people that start as insurance agents, and like their job after a few years, stick with it or do they try to move to other things like district managers later in their careers?
Sales offers the most flexibility and freedom. I have done the Sales Management and DM jobs. Pure commission sales beats those jobs, if you can sell and are willing to work to build a business. I don't have to ask anyone, other than my wife, for permission to do anything.
Hello all, this is my first posting and I am very glad to have found this forum, its already helped a lot! Recently I interviewed with both Farmers Insurance and Mutual of Omaha, from what I have already read on the forum, Mutual of Omaha is preferred by the majority. I understand that one is home, auto, and life while the other (mutual of Omaha) is more focused on the life and health aspect. Could you give me anything you know about the two companies and also tell me why selling either home/auto or selling life/ health is better. Thanks so much!
I have done it all,from personal lines to commercial lines, am a MUT agent, and I can vouch that selling life/health is a lot better for lots of reasons, inc luding the money. The best part is that it leads you into the finacial services area. Thats were you really should focus. It's better to learn how to sell insurance and go the investments, etc than the other way around. I do reconmend working with an independent agency, as long as they don't take any of your commisions, clients, don't charge for rent, and provide you with prospecting/marketing credit. Otherwise, captive agencies like MUT are great, because you need to walk before you learn how to run and they have a decient training program.
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