State Farm vs All State vs Nationwide vs Metlife

[Nick321]

I have two agent friends who run Allstate offices. They are constantly needled to sell financial products with threats of losing their contracts. Prior to opening my agency I went through the process and got approved. I found a location and but there were two other agents within a mile, they had no problem with me starting a third. I thought that was very odd as we would have been right on top of the others. They also wanted tons of cash on hand, wanted me to hire people on day one, advertise big time, way too much investment requirment. I also know another agent who just sold out as he was sick of the BS. When I started I met with the State Farm folks and their deal was much better as they really work to help you. I don't much about metlife. I decided I might as well be an employee if I did that so I went for the independent broker.

 

[ryeates1]

i also agree, state farm. if you are going to start with p&c state farm is most competitive and their claims are awesome. plus the agent can write checks right out of his office, which is a great customer service benefit

 

[Big1]

Run from State Farm.

Read the Becoming a SF agent thread.

Hundreds go under after investing their life savings and moving their families for an agency. Very few stay, and you have to go corporate to ever pay off your debts.

A local agent recently went corporate and they cut his agency in half and let the two new agents open offices 1/2 mile on either side of an agent who had invested 15 years of her life to SF. How is that in anyway fair to the long time agent? Does she have the opportunity to sell out and move on? No. SF owns her book.

And I know for a fact that the agent who left was starving even with his book. And they cut that in half and expect those poor suckers to survive?

Not the good neighbors you think.

 

[NewbieLearning]

What does "paper only" mean?
- - - - - - - - - - - - - - - - - -

SF- SF paper only, so limited pool to sell to- read the other forum about the SF "opportunity" first. LOTS of caution.

Allstate- Allstate paper only as well and not as competitive as most. I know of one agent who just gave up her 25 year Allstate agency and another who is being forced out.

Nationwide- at least with NW if you want to write something that the company doesn't write, you can broker it. They have an awesome variable product in the Best of America Life and Annuity. Still, you are captive and must dance the company dance. No selling out when you want to retire or passing off to your kid.

Metlife- can't tell you anything about them.

what does "paper only" mean?

 

[AgencyEquity]

State Farm, All State, Nationwide, or Metlife?

Which one do you think would be the best for a brand spanking new agent? I'm leaning towards P&C with cross selling Life, etc.

Thanks.

Everyone has a different situation and each company fairs better in each area. Talk to the agents in your area and see which ones are happiest, ideally take 3 of each of your targeted companies to lunch and come out with a list of hard hitting questions. Don't expect the perfect company, but more so the best company that meets you needs. What may be good for someone else may not be good for you.