- 180
If you're independent, your odds of placing that big WL case go way up.
My incidence of rated/declined cases began to improve dramatically (along with the underwriting results I was able to deliver for my clients) once I began shopping cases.
I left NYL after 7 years. Been independent for 8+. I effectively got booted when I started to broker and saw the premium arbitrage for what NYL wanted vs. what I could get for my clients in a brokered capacity. I just couldn't justify selling only Mother NYLIC's products in my mind or conscience. Production went south rapidly. I resigned a month after they revoked my ability to do financial planning for a fee.
I do think, in a financial armageddon scenario, I could end up regretting not selling every client NYL.
But then again, no company is immune from financial peril. So, I like having things spread around and focusing on the best results for each client, letting each client make their own informed choices. There are enough solid mutuals available via brokerage to give people the option to pay extra for the big brand mutual. So if that's what the client wants after being apprised of the alternatives, then, so be it.
Also, I have to say, looking back, that I didn't realize how much the agent training was oriented around product sales, and proprietary product sales, at that. I didn't start to see it until I got some space from it, got my CFP, etc.
The flipside is that really, only the big mutuals are providing entry-level training for most agents. And they feel entitled to reap the fruits of that investment with proprietary product sales. So, it's really a catch-22.
My incidence of rated/declined cases began to improve dramatically (along with the underwriting results I was able to deliver for my clients) once I began shopping cases.
I left NYL after 7 years. Been independent for 8+. I effectively got booted when I started to broker and saw the premium arbitrage for what NYL wanted vs. what I could get for my clients in a brokered capacity. I just couldn't justify selling only Mother NYLIC's products in my mind or conscience. Production went south rapidly. I resigned a month after they revoked my ability to do financial planning for a fee.
I do think, in a financial armageddon scenario, I could end up regretting not selling every client NYL.
But then again, no company is immune from financial peril. So, I like having things spread around and focusing on the best results for each client, letting each client make their own informed choices. There are enough solid mutuals available via brokerage to give people the option to pay extra for the big brand mutual. So if that's what the client wants after being apprised of the alternatives, then, so be it.
Also, I have to say, looking back, that I didn't realize how much the agent training was oriented around product sales, and proprietary product sales, at that. I didn't start to see it until I got some space from it, got my CFP, etc.
The flipside is that really, only the big mutuals are providing entry-level training for most agents. And they feel entitled to reap the fruits of that investment with proprietary product sales. So, it's really a catch-22.
Last edited:
