My personal experience with Aflac

*STIBROKER@AUSTIN.RR.COM* · 06-19-2007, 04:26 PM

Yea Jfs....listen to the green guy......

SME · 06-19-2007, 05:58 PM

When I was a broker for group insurance I worked with one Aflac rep and that was it no one else even got a call returned. He got a chance at all my groups and I even took him in and introduced him to them. It was a great relationship and you can bet I made him work his a** off to prove himself to me. In the end I trusted him with my groups. If you can get a broker to talk to you, and then earn thier trust you will have a great referral base. Good luck.

TXINSURANCE · 08-03-2007, 11:55 PM

A friend of mine was an AFLAC DSC when I was newly licensed.

Here is the problem - it is essentially an insurance MLM. New agents can make 30-40% commission or so and a 9 month advance (remember that is NOT your money!) selling B2B.

There are a lot of problems. For starters I would assume most products are essentially 100% first year commission able - you are only getting 30-40% , the other 60% works its way up the food chain to your district, state, area, etc., etc.,

There is a lot of good with AFLAC...

1. Name recognition due to the duck
2. Payroll deduction means you are likely to have MOST clients 12 months at least (charge backs are lower than individual health insurance or someone not being payroll deducted. i.e. you can miss what you never had)
3. Product portfolio is good and easy to pitch (if you have the chance)

Here is the bad...

1. There are too many AFLAC agents and most districts concentrate on RECRUITING since the burn out rate is VERY HIGH - most people make little or no money.

2. The commissions are entirely too low. Now that I know better I sell Cancer and accident plans and life plans all day long that pay 70-100% commission.

3. They have NO marketing plan other than COLD CALLING the phone book or HANDING OUT BROCHURES at strip malls which can lead to major depression.

4. There is no base pay, no draw, 100% commission. So unless you have 3-6 months salary saved up (over 50% of Americans do not have $1000 saved) then you are IN BIG TROUBLE trying to do AFLAC, because it takes OVER A YEAR or TWO YEARS to make any good money - good money to them is $30-$40k or so... less your gas... less your time... less the props they make you buy such as talking ducks...

I DO think there is a VERY GOOD opportunity to sell AFLAC if you are a GROUP agent and can get the AFLAC sale with the GROUP, but to storm into a business and try to get through the gate keeper to make a "presentation" on someone elses GROUP medical is very difficult since often times the person who did the GROUP medical is someones brother, sister, or third cousin.

I just feel the AFLAC market is saturated and they have no strategy to acquire new business other than cold calling and pounding on doors - which is a rough life.

There are exceptions and superstars with anything and AFLAC is no exception, I am not bashing it one bit - if it works for you GREAT. I will say they are generally a very ETHICAL operation I don't see a lot of dishonest stuff (if any) going on with AFLAC they are pretty much as ethical as you can get (in this business anyhow).

It is a tough gig is all I am saying.... The NET is VERY small unless you do it for years (i.e. renewals), but how do you feed your family and pay the light bill in the meantime? Not to mention the $2000 laptop system they essentially make you buy so clients can "e-sign" , or the "splits" with your so called trainers - remember 99% of this gig is prospecting 1% is actually selling.

Good luck either way.

salpro22 · 08-04-2007, 12:06 AM

2. The commissions are entirely too low. Now that I know better I sell Cancer and accident plans and life plans all day long that pay 70-100% commission.

I'm in the market for some new accident and cancer plans. I'd love to know what you recommend based on your research and expertise. Thanks.

-J.R.

TXINSURANCE · 08-04-2007, 08:37 PM

I don't know your area or market, I would contact a few life GA'S and see what they have available - then contact the company and see if you can get a direct contract if you don't want to waste your time with a GA (who is getting a cut), this is your call.

salpro22 · 08-05-2007, 12:01 AM

Originally Posted by TXINSURANCE

I don't know your area or market, I would contact a few life GA'S and see what they have available - then contact the company and see if you can get a direct contract if you don't want to waste your time with a GA (who is getting a cut), this is your call.

I appreciate the input. Are the plans you offer only available in Texas?

TXINSURANCE · 08-09-2007, 12:26 PM

You can pm me for that info

Sir Ringo · 08-14-2007, 08:45 AM

Originally Posted by salpro22

I'm in the market for some new accident and cancer plans. I'd love to know what you recommend based on your research and expertise. Thanks.

-J.R.

22, I am with Physicians Mutual Ins Co. here in MS. They have re-introduce their cancer plan in AL (I work the Mobile area) but not yet in MS, but they do offer it in Tx. As for an outright accident policy, we don't necessarily have that, but there is one tied to the hms (limited med) that cost a buck as a rider, 20K, along with the med-sup, indemnity and hosp. confinement plans.

I do not know how you may feel about PMIC, but for me I like them alot, at least here in Laurel, Ms. good folks in the division office. But I guess the reason I like them most is that I am non-captive, after being captive for two years, I like this alot.

There are some nice incentives for the new agent, a bonus just for Submitting a minimal number of apps per month, for the first three months.

It wouldn't hurt to check them out if you would just like to add a cancer policy. I guess from an agents point of view there are always some things these companies could do better, and PMIC is no different.

Just thought I would pass this along.

JimV. · 11-13-2007, 01:27 PM

I graduated from law school in 95 and since then have worked as an attorney in various capacities. Right now, I'm doing personal injury at a small firm. The pay is okay, but like a lot of people, I'd like to make more.

I was supposed meet with someone from Aflac this evening about a sales job, but I ended up cancelling. The job still intrigues me though. With all their advertising, Aflac is a well known company, so it seems I'd be selling a good product. I'd also like to have more control over my work and my potential earnings, and this would seem to fit the bill.

Anyone know how much money I could reasonably expect to make (assuming I'm good)? I'd seriously consider it if $75k-100k+ were a possibility. Also, what will I do for income in the six or so months it takes to get up to speed before commissions start rolling in? I certainly can't be without income during that time.

Any insights are greatly appreciated.

Mr. Bill · 11-13-2007, 01:32 PM

Why why why why why?????

I would recommend you get real uptodate on taxes estate planning and asset protection. Get your insurance license and share with the agent the life insurance cases (for estate planning, for example). You will do far far better if you focus on networking with financial/insurance advisors. We are always looking for good attorneys to work with, and sadly, most attorneys suck at this stuff!

Where are you located?

James · 11-13-2007, 01:39 PM

I would think Allstate Welcome to Allstate Workplace Division or maybe AIG http://www.aigebs.com/lifeinternet20...contents/index might be a better place.

Then you have Colonial, but they do concentrate heavily into recruiting brokers and pretty much own the business. While Conseco is more Agent specific in book of business. Either company I would think is better then Aflac.

Are thinking about doing medical (full medical benefit) also?

*STIBROKER@AUSTIN.RR.COM* · 11-13-2007, 01:44 PM

Aflac has saturated the market already.....and I really do not believe in the product....although as for my dog....

YouTube - AFLAC DUCK VS THE BEAGLE

LGilmore · 11-13-2007, 01:55 PM

Are you sure that you could work in sales?

Aflac sales forces tend to turn alot, so while the pitch may be strong, I don't think they have as many 6 figure sales guys as you might think. Otherwise, why the turnover?

JimV. · 11-13-2007, 03:52 PM

Thanks for the replies. I found some other good threads as well. Sounds like Aflac isn't for me....

Survivor · 11-13-2007, 05:11 PM

I work for AIG American General. I came from a United American (very bad company), so any company may seem better. I like it, and I like the product. We have one agent in Cali that made 460K last year, but that is only because he is Asian and works with a lot of Asian business owners out there that don't speak a lot of English that other agents won't/can't approach.

The average agent makes like 46K if I remember correctly. We've got a good product portfolio IMO, but if I were a lawyer I'd never move into insurance. How much are you making now? Insurance can be a pain in the butt, especially getting started. I like it, but I'm sure as a lawyer you aren't use to trying to tracking down clients. It may feel kind of odd to you tracking down people to give your professional advice.

Martian · 11-25-2007, 02:02 PM

I bust my ass for the duck, and now I'm losing my shirt. I love the company, and the products, but the marketing and cold calling sucks. 100+ calls a week may net 3 appointments, one of which will cancel, one of which is too small or thinks you sell something else and one where you sign up 3 guys to some accident plan for $5 a week and earn a whopping $300.00 for the week. Then a guy quits and you get charged back!

I have asked for help prospecting, I want to see someone getting past the gate keeper cold calling. No go, something comes up, or the DSC waits in the car and tells me something to try.

My DSC is not on good terms with our RSC, so the orphaned accounts dried up, and they won't let me help in MLA accounts because you have to be certified and own one of their computers and have $75,000 in AP and 1 year behind you.

I'm on the Market in PM me if you are in FL

al3 · 11-25-2007, 02:30 PM

Originally Posted by Martian

I bust my ass for the duck,

Is it the fault of Aflac... or your lack of ability? It could be both.

The situation you describe is not a good one and it sounds to me like a change is necessary. If you like selling workplace supplements, perhaps you want to switch to a different company or product?

I do OK with Colonial which I think is a very good company...

But YMMV.

Al
InsuranceSolutions123 Agency

Martian · 11-25-2007, 02:37 PM

I know I need more training, it's getting the training that I need that is impossible. They can go over scripts and ideas all they want in a class, but it rarely works that way in the real world. I will be checking on Colonial, they called me and left a number this week. I kind of want to get away from supplementals as my first line of products.

al3 · 11-25-2007, 02:59 PM

Originally Posted by Martian

I know I need more training, it's getting the training that I need that is impossible. .

Colonial gave me great training. They sent me a ton of stuff to read, they sent me to a 3-day seminar on sales, prospecting and doing things that have been successful for other Colonial agents, and they are always having these prospecting "events" where you go out in groups and cold-call (I've only done a few of them) as well as "phone day" events where people make calls, have pizza etc. They are trying to get me to go to the 3-day Enroller class which I will do in January.

I don't know how Aflac does it, but Colonial splits the functions into 3 areas. There is the Opener... or the sales rep. There is the Enroller who sits with each client and helps them decide on what plans are best for their situation. And there is the Co-Ordinator who works to get the data from the plan administrator into the home office system in time for the enrollment (usually on large groups). The Opener gets from 22% to 37% commission on business put on the books (depending on products sold).... the first nine months advanced. The Enroller gets a straight 15% and the Coordinator gets 4%. Many people do all three functions, especially for small accounts (Colonial urges us to only do accounts of 10 or more.)

I don't do Colonial full-time. It's a long sales cycle in my area and also because Aflac's superior marketing is killing us... and the Colonial management doesn't 'get it.' Aflac has 'scoured and soured' the market out here so calling on accounts can be problematic... no one has heard of Colonial or they were "burned" by having bad service by Aflac because of their huge turnover.

If Aflac had a good district office here I would talk with them, but the DSMs I've met here are losers in my opinion. Their game is each month to bring in 10 guys whom the hope will write one group each before 9 of them bail out. The DSM gets the override, the case-count commission, and maybe the entire account after the agent quits. It's a churn and burn deal.

Colonial on the other hand seems to be more selective in their hiring. They are looking for people who will stick around. But it ALL (always) comes down to who is running YOUR local district (although with Colonial you can change easily.)

I have a good manager. He has gone out with me on a dozen sales calls and has helped me close several. I can't fault the resources that Colonial has provided me.

Both Colonial and Aflac have good products for most states. But Aflac has great marketing. Guess who wins?

Hope this helps a bit.

Al

Martian · 11-25-2007, 03:16 PM

It does, My DSC and the other people I see making it usually had things lined up from previous jobs, or pensions from their previous jobs. I had a few months worth of reserves, now they are gone. I definitely will be calling that Colonial rep back this week. I tried to get appointed with Mutual of Omaha, but I did not have the $120.00 to pay for the appointments so I had to decline for now.