Apex-Elite/American Financial Group, Inc

[Kgrambo]

I have been approached by Apex Elite to work for them. Sounds interesting, but I have not heard of them. I have been trying to find stuff out on the internet and this forum but have not heard anything about them. Has anyone here heard about them? They seem to work in the senior market. Thanks!

 

[gmhopks]

I interviewed at length with them back in early Aug.

They are an FMO (field marketing organization) focused on Medicare Supplemental insurance and have contracts with a number of major carriers that offer these types of policies.

I found out real quick they want you to pay for all your training expenses and you will not own your book of business until you "vest" over a period of 5 yrs. if I recall. They are an upstart as of last year.

I politely declined their "opportunity".

Be careful and make sure you understand what kind of financial commitment they will ask you for.

FULL DISCLAIMER: I am new to the insurance industry as of this month. I have just acquired my L&H licenses for KS and MO, but am still researching whether to go captive or independent. I tell you this so I do not give a false impression of an experienced agent. There are many good pros on here that will provide good info, just ask.

 

[Kgrambo]

If you do not mind me asking, what was the financial commitment they asked you for? What were the training expenses?

they were offering preset appointments. About 12 per week.

 

[gmhopks]

If you do not mind me asking, what was the financial commitment they asked you for? What were the training expenses?

they were offering preset appointments. About 12 per week.

If I recall, the 1-2 week training is out of your pocket. That means getting there, hotel, meals, etc.

Weeks 2 - 3 are wherever they want you to go to work with an "experienced" field agent/trainer. Again this is all on your nickel.

You will pay to get your license(s) and the training materials to study for them.

They will offer a "bonus" for completeing the licensing and training IF you complete thier 90-day "BOOT CAMP".

All this in reference to Apex-Elite; I am not aware of American Financial Group and their relationship to Apex-Elite.

Good luck and just be a little wary. There are a number of more legitimate companies that offer decent opportunities. Just take your time to do your homework and you will find them. You want to compare a number of opportunities in order to make a better decision. I speak from experience as I am deep into this process and learn new info every day. I am getting extremely close to making a final choice on the path I want to take to get into Med Supp sales.

 

[Kgrambo]

You are right i looking around. I have been looking around as well. Have turned down a few opportunities after further research. Ideally, what I am looking for is a company that is solid, offers good training, solid leads and pays what we agreed upon. I want to diversify beyond just FE life insurance. I am looking at P&C, commercial, annuities and MS/MA opps. I am in Ohio. What have you seen out there that is decent?

 

[magagent]

I never worked with them, but I did just speak to an agent this week who interviewed with them and here is what he told me. They are in the med supp market and other senior products, they try to put all of their business through the Great American insurance family of companies.

They provide preset appointments at 20.00 a piece the agent does not pay for them upfront as they are taking out of the commision check, so that means you are assigning commission. Agent was also told you do not get charged for a no show. They do ask you to come to Dallas for a week of trainning, you pay for the flight and one meal a day and they take care of everything else. Oppourtunity for complete reinbursement they say. This agent said he would start on 16% med supp contract and 60% final expense contract.

Here is the strange part, before you come to Dallas they expect you to open a "business account" and fund it with 2K, that you are the owner of. Apex says the reason is, if you have a slow start we do not want you to quit and just stop running appointments, so in your first 4 weeks we are going to pay you 500.00 every week out of that account.

If you do not mind me asking, what was the financial commitment they asked you for? What were the training expenses?

they were offering preset appointments. About 12 per week.

 

[jmarkk1]

Would you be able to recommend any other marketing opportunites that are legitimate? I'm looking for something in the area of life, medicare, LTC, etc. with some emphasis on health, but not the primary focus. I'm also looking for something that isn't set up like most IMO/FMO's, where it's pretty much focused on getting agents and then leaving agents out on their own. I guess you could say that I'm looking for something that is "captive" in the sense that they want me to build a career with them and even might be able to actually help me to build a successful business. Whatever I do, I'd like to be in a position where I'm a true consultant/broker, not just offering one sized fits all product.

 

[magagent]

If I woke up in your shoes, I would call up my local Mutual of Omaha office. MOO is a great place to learn the business for the first couple of years.

Would you be able to recommend any other marketing opportunites that are legitimate? I'm looking for something in the area of life, medicare, LTC, etc. with some emphasis on health, but not the primary focus. I'm also looking for something that isn't set up like most IMO/FMO's, where it's pretty much focused on getting agents and then leaving agents out on their own. I guess you could say that I'm looking for something that is "captive" in the sense that they want me to build a career with them and even might be able to actually help me to build a successful business. Whatever I do, I'd like to be in a position where I'm a true consultant/broker, not just offering one sized fits all product.

 

[gmhopks]

If I woke up in your shoes, I would call up my local Mutual of Omaha office. MOO is a great place to learn the business for the first couple of years.

I just interviewed with MoO this week, and in general I would agree that they would be a place to start to get the training.

But, they stressed heavily on wanting you to sell a complete set of financial AND insurance products. I was told I would be required to get series 6 & 63 licenses as well as my L/H licenses.

Now, all that is great if you want to sell a set of solutions from one company. Also, MoO did not offer me the choice of concentrating my sales efforts in strictly the senior-market.

So, in my opinion, if you know the area of insurance you want to start in, I would focus on captive/non-captive opporutnities in that let you focus on that area.

I'm still in the process of finding the best opportunity and it has required a lot of work on my part - which I am glad to do. I've learned a lot going thru this process and believe I will make a much better choice/decision becuase of the "due dilligence" I've performed.

Just my 2 cents on this.

 

[magagent]

Yeah MOO tried to push securities on me as well, but once I started with them they never really mentioned it again. I did sell lots of senior products with MOO, but occasionally I did sell underage health and life.