Any MassMutual Agents Here
- Thread starter rizzle
- Start date
- 1,271
MM serves the white collar professional and business owner market. Is that who you want to go after? If it is, you should sell nothing but MM whole life, disability income and LTCi. If it isn't (e.g. you want to sell med supp, group plans etc) you should NOT go captive with them.
They required me $200mm coverage as a registered rep and subsidized half of the premium. I don't think you have to buy through them if you are not registered with their broker dealer.
- 11,275
Yes, you can write other business with other brokers... health, group products, etc.
But just as Franz said, if you're not going after white collar professionals and the business owner market, don't sign on with them.
But just as Franz said, if you're not going after white collar professionals and the business owner market, don't sign on with them.
- 292
Are you signing on as a broker or as a career agent? (And if you don't mind me asking, which State?)
E&O requirement is lower for brokers than for career agents.
If a career agent, and registered, E&O is more expensive. Otherwise it runs about $132/month. You can get coverage elsewhere, but it has to meet MM's coverage requirements.
The E&O is good coverage that all carriers will take, so you can write business anywhere.
You can write non-MM business through their brokerage arrangement at Ash Brokerage and receive decent commissions and get credit towards your contract.
If you write senior-market stuff like med supps and FE you can write that on your own with no problem at Mass.
Keep in mind that their LTC policy, while a great policy with price increase protections built-in due to the way they issue it in series (300, 400, 500) has very tough underwriting.
The whole life and DI underwriting is tough as well, so as was commented, its basically a white-collar target market. But there are a lot of very successful agents that write nothing but Mass product and do quite well. But if you're clients represent a wide-swath of humankind it might not be the best place to work.
Be very careful and watch which office you go to since they all have different training programs of vastly different quality.
Their intranet is very good and deep and their on-line training both for life and securities is very good as well. They make good use of technology. Plus, you have access to free attorney services for trusts, wills, buy-sell agreement reviews, etc and they really know their stuff.
E&O requirement is lower for brokers than for career agents.
If a career agent, and registered, E&O is more expensive. Otherwise it runs about $132/month. You can get coverage elsewhere, but it has to meet MM's coverage requirements.
The E&O is good coverage that all carriers will take, so you can write business anywhere.
You can write non-MM business through their brokerage arrangement at Ash Brokerage and receive decent commissions and get credit towards your contract.
If you write senior-market stuff like med supps and FE you can write that on your own with no problem at Mass.
Keep in mind that their LTC policy, while a great policy with price increase protections built-in due to the way they issue it in series (300, 400, 500) has very tough underwriting.
The whole life and DI underwriting is tough as well, so as was commented, its basically a white-collar target market. But there are a lot of very successful agents that write nothing but Mass product and do quite well. But if you're clients represent a wide-swath of humankind it might not be the best place to work.
Be very careful and watch which office you go to since they all have different training programs of vastly different quality.
Their intranet is very good and deep and their on-line training both for life and securities is very good as well. They make good use of technology. Plus, you have access to free attorney services for trusts, wills, buy-sell agreement reviews, etc and they really know their stuff.
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