Are FE Agents Captive or Indy?

[ewilkins]

Can some of you who sell FE let me know which agencies you work for or, do you go it indy? I'm wanting to make the move over into FE but since I'll be cutting my teeth, am not sure if indy is the best choice right off the bat. Or am I making this more difficult than it has to be?

 

[Newby]

Can some of you who sell FE let me know which agencies you work for or, do you go it indy? I'm wanting to make the move over into FE but since I'll be cutting my teeth, am not sure if indy is the best choice right off the bat. Or am I making this more difficult than it has to be?

There are several degrees.

Captive - would mean that you work for one company (Lincoln Heritage, Senior Life, AIL, etc.) You do everything through them and if you add any contracts outside of them you will be terminated and often are not vested (lose your renewals.) These type of companies will sometimes attempt to get you into debt with the company (financing leads, carry debt on account with chargebacks, etc.) That is so when you want to leave they will demand payment in full and can try to ruin your credit rating on the way out the door.

Independent- Means you do everything on your own. You need no assistance with leads. You need no training beyond what the insurance companies themselves give you. You contract with any product you want through any company or IMO that you want. Complete freedom to succeed or fail off your own abilities.

In Between- Most (not all) successful FE agents on this forum (and many more off the forum) have all their FE contracts through one agency (our agency FexContracting.com is one example.) They are considered independent because they can contract with most insurance companies at the same commission level they would get direct from the company (or higher in some cases). In exchange for all the contracts being through one up line you get way more in depth ongoing training. You get access to lead programs that are not available to independents. You also get guidance on how to actually make money and run this like a business and NOT go into debt or be set up to fail. And any time you want to get out of the business or move to a different agency you can do that and 100% of your sales are vested. YOU get to keep all your renewals.

Our agency has many fully independent FE agents and many of the in-between (what ever you want to call it.) I would call it semi-captive to be honest but agents hate that term. Our agents call it the pirate ship. They have all the independence they want but band together to learn from and help each other all under the guidance of one of the most successful FE agents of all time.

I'm probably biased but I would say that as a rule the chance of you making a great living at FE is to be with an agency like ours (we aren't the only one) where you are pretty independent but have a group working closely with you with leads, company selection and ongoing interactive training.

 

[Todd King]

Can some of you who sell FE let me know which agencies you work for or, do you go it indy? I'm wanting to make the move over into FE but since I'll be cutting my teeth, am not sure if indy is the best choice right off the bat. Or am I making this more difficult than it has to be?

It's going to depend on your past experience in insurance. If you've been writing other types of life insurance for a while then your transition shouldn't be hard at all. If you have no experience in life sales whatsoever, but have been in the insurance industry for a while, you still may be able to do it with very little trouble.

With that being said, what is your experience?

(Feel free to call me anytime if you would like to discuss it over the phone for a clearer picture).

 

[ewilkins]

With that being said, what is your experience?

QUOTE]

Very little. I worked for Libnat for a very short while (about 2 months) back in 2003. I quit because the sales manager I was working and training with got threatened by two clients who threatened to call the police on him for harassment. They kept telling him they weren't interested and he kept having me drive by. Left a bad taste in my mouth. Other than that, nothing.

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There are several degrees.

Captive - would mean that you work for one company (Lincoln Heritage, Senior Life, AIL, etc.) You do everything through them and if you add any contracts outside of them you will be terminated and often are not vested (lose your renewals.) These type of companies will sometimes attempt to get you into debt with the company (financing leads, carry debt on account with chargebacks, etc.) That is so when you want to leave they will demand payment in full and can try to ruin your credit rating on the way out the door.

Independent- Means you do everything on your own. You need no assistance with leads. You need no training beyond what the insurance companies themselves give you. You contract with any product you want through any company or IMO that you want. Complete freedom to succeed or fail off your own abilities.

In Between- Most (not all) successful FE agents on this forum (and many more off the forum) have all their FE contracts through one agency (our agency FexContracting.com is one example.) They are considered independent because they can contract with most insurance companies at the same commission level they would get direct from the company (or higher in some cases). In exchange for all the contracts being through one up line you get way more in depth ongoing training. You get access to lead programs that are not available to independents. You also get guidance on how to actually make money and run this like a business and NOT go into debt or be set up to fail. And any time you want to get out of the business or move to a different agency you can do that and 100% of your sales are vested. YOU get to keep all your renewals.

Our agency has many fully independent FE agents and many of the in-between (what ever you want to call it.) I would call it semi-captive to be honest but agents hate that term. Our agents call it the pirate ship. They have all the independence they want but band together to learn from and help each other all under the guidance of one of the most successful FE agents of all time.

I'm probably biased but I would say that as a rule the chance of you making a great living at FE is to be with an agency like ours (we aren't the only one) where you are pretty independent but have a group working closely with you with leads, company selection and ongoing interactive training.

Thanks for your detailed answer. I'm actually kind of liking the semi-captive idea. I'm cool with being independent for the most part yet being provided with leads and training. I think right now, other than a willingness to succeed of course, that training is going to be key. I'm going to check out your site!

 

[Ksutton]

I'd say go Indy with an IMO who can give you a good lead program (fixed cost) and good training . I'd be happy to chat and share my experiences anytime .

I was captive for about a year before I went Indy . Best decision ever . Hard jump - totally worth it if you find a solid IMO .