Thought I would jog this old thread. Anyone have any info on a career with ANPAC????
Become an American National Agent
Become an American National Agent
Anpac
- Thread starter Paradigm
- Start date
- 682
I do! I do!
B Ray
Expert
I just started with ANPAC,I like what I see so far. Everyone that I have quoted likes our CASHBACK program, for those that doesn't know,after 3 years claim free,we give you 25%of your annual premium back,every year, just stay claim free.
- 682
OK, I have time to respond now.
I've been with ANPAC since 2000.
The upside:
+Solid parent company. ANICO-Forbes 100 Most Trustworthy Companies
+Good claims service
+CashBack is a big selling point
+You can write health, DI, and other ancillary products through Moody Insurance Group. (see downside)
The downside:
-Being "exclusive" -read captive- means you only have one choice and when rates are good, its great. When rates are bad, it sucks. Right now, rates suck and they're going out the back door faster than they are coming in the front.
-Lower commissions than on the indy side. Mine average 9.5%
-You have to pay for everything. No 800# to the home office; you want brochures? That'll be $.05 each (payable in advance). No subsidy for office expense.
-The commissions paid for life are less than they pay agents on the broker side (through IMG) unless you are producing a bunch.
-If you contract with a company through Moody Insurance Group your access to their products is limited. For example, I can write DI through Illinois Mutual, but I can't write their Simplified issue life, even through ANICO doesn't have a competing product. Can't write SLAICO's simplified issue even though they are an ANICO subsidiary. Doesn't make sense to me.
-You don't own the book. You can't sell it, but they do have a lifetime income plan based on the size of your book when you retire after 10 years of service.
Overall, it hasn't been a bad experience, but I'm focusing more on health insurance these days.
PS: I'm on the old contract that only makes me captive on the P&C side, so I can write stuff through outside life and health companies. I just have to have a separate E&O policy to cover those.
I've been with ANPAC since 2000.
The upside:
+Solid parent company. ANICO-Forbes 100 Most Trustworthy Companies
+Good claims service
+CashBack is a big selling point
+You can write health, DI, and other ancillary products through Moody Insurance Group. (see downside)
The downside:
-Being "exclusive" -read captive- means you only have one choice and when rates are good, its great. When rates are bad, it sucks. Right now, rates suck and they're going out the back door faster than they are coming in the front.
-Lower commissions than on the indy side. Mine average 9.5%
-You have to pay for everything. No 800# to the home office; you want brochures? That'll be $.05 each (payable in advance). No subsidy for office expense.
-The commissions paid for life are less than they pay agents on the broker side (through IMG) unless you are producing a bunch.
-If you contract with a company through Moody Insurance Group your access to their products is limited. For example, I can write DI through Illinois Mutual, but I can't write their Simplified issue life, even through ANICO doesn't have a competing product. Can't write SLAICO's simplified issue even though they are an ANICO subsidiary. Doesn't make sense to me.
-You don't own the book. You can't sell it, but they do have a lifetime income plan based on the size of your book when you retire after 10 years of service.
Overall, it hasn't been a bad experience, but I'm focusing more on health insurance these days.
PS: I'm on the old contract that only makes me captive on the P&C side, so I can write stuff through outside life and health companies. I just have to have a separate E&O policy to cover those.
Last edited:
B Ray
Expert
Yes,I have had to buy some brochures, but there is just a few that are $.05, the rest are free, I'm too new to know everything you were saying.I feel like I will do what I can and make my 10 and see what happens then.
Based in Springfield, MO division of American National in Galveston, TX I know a few people that are captive with them now and others that have been with them in the past.
They have excellent product line. The cashback product is a great selling point. They are relatively competitive and have good home office personnel to back you up. The gentleman that posted earlier about his experience since 2000 sounds very similar to those that I know. I think the commisssions are a little low but they may have recently changed that. They also do cover expenses as he said earlier. I would do a little research before you get too far into the program so that you know what to expect. I would try to contact agents in Southwest Missouri that are connected. Highly recommended.
Gulliver
They have excellent product line. The cashback product is a great selling point. They are relatively competitive and have good home office personnel to back you up. The gentleman that posted earlier about his experience since 2000 sounds very similar to those that I know. I think the commisssions are a little low but they may have recently changed that. They also do cover expenses as he said earlier. I would do a little research before you get too far into the program so that you know what to expect. I would try to contact agents in Southwest Missouri that are connected. Highly recommended.
Gulliver
G
Guest
Guest
love these almost 2 year threads that come back to life
I've been with them 2 years, and it's been up and down. I'm on the AAA program and it was totally misrepresented to me by my MLGA. At this rate averaging about 10-15 units a month I'm expected to owe them about $45k if I stay through the whole program. Not a pleasant prospect. If I leave I'm not on the hook for it as long as I honor the noncompete. I'm not sure if I'm staying or not. I can possibly make more going indie again. Cashback sounds great unfortunately it's not offered in CA where I live.
I'd love to hear from any ANPACers, especially if you're on AAA. What has been you're experience with that?
I'd love to hear from any ANPACers, especially if you're on AAA. What has been you're experience with that?
