About to go captive with Bankers Life

[Jmos]

Well, I've managed to pick enough brains on here to know that life insurance is a good fit for me, the way I think, and the higher comission % is obviously appealing. However, I'm limited in my area to only a few carriers to work for directly. I've started the onboarding process with Bankers Life, and even though I'm not counting on it being a good place to make any money for the first few months, I AM counting on the education they will give me. But in wondering if I'm making a mistake here. It's my understanding anyone can go independent whenever they want, and make more money. I spoke to a guy from Assurance who told me the leads dial in to him, and he just logs in and takes calls and makes 6 figures. "Free leads" he says. Well, Bankers says their leads are free too, but they certainly arent calling in.
The dilemma I'm having is that I feel like I need the education for a while first. But I'm afraid I wont make enough money to survive while getting it. Is there a better way? Why dont IMO's offer education and training for rookies?

Opinions welcome

 

[Jmos]

P.s. for clarity. My license is in health and life (just got it days ago), and I'm saying I prefer to focus on the life side, with some med supps and Medicare woven into my career.

 

[fed up]

Soak in as much education as you can and then leave. Be prepared for chargebacks and a vector hit after you leave as the managers will send agents to your old customers to rewrite your business. Be prepared to give your manager 25-50% of each policy you write and never let them convince you to put their name as the writing agent

 

[Chazm]

I remember when I was new and was told I would have “free leads” with my company.
It was a list of about a thousand names and numbers. Here you go!

 

[fed up]

Your free leads at Bankers are the 7% of your commission that you are forced to give up to the company. Most of those leads have been worked so many times that the person on the card is deceased. Tuesday and Friday is generally office day. Group conference after lunch with golf claps for leaders. ALWAYS be the agent of record, no matter what your fellow agent or manager says. you can try to focus on life and LTC. Bankers easy issue products are great and pay without much hassle. The Short Term Care is a life saver for many who have already been diagnosed. Their Guarantee issue life used to have a product which paid from day 1, not sure if it is still available. Bankers main focus is med supps however using T65 charts which you draw for each client

 

[UKTX]

Going captive when you first get licensed is pretty much how most agents earn there stripes in this business, myself included. I was captive for 5 years before I went Independent. Think of it as an "apprenticeship", a stepping stone to learning the business. I couldn't go back to being captive at this point in my career, but I will say this: I wouldn't be where I am today without having been captive in the start. It set me up for the success I have now. No way I would have made it as an Independent right out of the gate

 

[Life Hawk]

No way I would have made it as an Independent right out of the gate

The sad truth is very few make it at all... captive or not.

The upside is the training, if it is done correctly.

The key though is always in the learning (responsibility of the taught).

When I was a field trainer I was accused often of giving drinks out of a fire hose. Looking back, I know now that over coming the learning curve is so important for new agents if they are going to survive.

Very few folks can do this profession well. I hope that @Jmos is one.

 

[Jmos]

The sad truth is very few make it at all... captive or not.

The upside is the training, if it is done correctly.

The key though is always in the learning (responsibility of the taught).

When I was a field trainer I was accused often of giving drinks out of a fire hose. Looking back, I know now that over coming the learning curve is so important for new agents if they are going to survive.

Very few folks can do this profession well. I hope that @Jmos is one.

Thanks, I believe I will. I've heard that most people don't make it, and I can only assume that is because of the fact that it is sales, and a commission career. You have to stay motivated and when you're not, you have to be intentional. Which is a model I've built my life on already for 12 years. The part I lack is education.
I was just called this morning by someone from "Orca group" offering an appointment with them, and for some leader in my area to call me. I thought "what the heck" I'll let them call me and see what they have to say. Cant hurt to hear how things go for new agents with them too. I mean at this point, I feel like I just stepped into a giant new world of information overload and I just have to choose a path that I like. I'll be careful though. I'm picking up on the fact that sales will always be sales, and it's no different than the industry I'm leaving behind in that you can get sold on working for a company that offers broken promises if you're not careful.

 

[Todd King]

Well, I've managed to pick enough brains on here to know that life insurance is a good fit for me, the way I think, and the higher comission % is obviously appealing. However, I'm limited in my area to only a few carriers to work for directly. I've started the onboarding process with Bankers Life, and even though I'm not counting on it being a good place to make any money for the first few months, I AM counting on the education they will give me. But in wondering if I'm making a mistake here. It's my understanding anyone can go independent whenever they want, and make more money. I spoke to a guy from Assurance who told me the leads dial in to him, and he just logs in and takes calls and makes 6 figures. "Free leads" he says. Well, Bankers says their leads are free too, but they certainly arent calling in.
The dilemma I'm having is that I feel like I need the education for a while first. But I'm afraid I wont make enough money to survive while getting it. Is there a better way? Why dont IMO's offer education and training for rookies?

Opinions welcome

Yes, you will learn a lot over at Banker's Life. Specifically you'll learn ways NOT to do things. You'll learn how to replace policies that have no business being replaced and things like that. It's really very easy from what I can tell. All you have to do is to learn to lie like your manager and the rest of the agents there.

If that's who you are, you'll fit right in. If it is the opposite of who you are, you won't last long there.

 

[Life Hawk]

Yes, you will learn a lot over at Banker's Life. Specifically you'll learn ways NOT to do things. You'll learn how to replace policies that have no business being replaced and things like that. It's really very easy from what I can tell. All you have to do is to learn to lie like your manager and the rest of the agents there.

If that's who you are, you'll fit right in. If it is the opposite of who you are, you won't last long there.

I detect that you have an opion regarding Bankers.