Career Financing Plan with Mutual of Omaha

Michael - shoot me a message and I will go over it with you in detail.
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In a nutshell, agents earn three ways:

1. Commission.

2. Career Financing. Worth about $93,000 over first three years. This is a bonus as a percentage of NFYC issued.

3. Production Bonus. This is a bonus on your commissions earned.

There are also prospecting credits, deferred comp, and of course renewals. And agents are Career, NOT Captive. Big difference.
 
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Captive = you can only sell that company's products.

Career = you can sell other company's products. MofO has a relationship with Broker's Clearing House to provide access to other companies so that if Omaha does not have a solution to a need there is a solution with BCH. Example - a client wants a big $1,000,000 Equity Indexed Annuity or a variable product (neither of which MofO offers) and rather than losing that commission the agent turns to BCH and writes the business, thereby not losing the sale. And that sale's NFYC counts towards company trips, recognition awards, etc.

MofO agents can sell whatever they like, although the financial incentive is to sell lots of MofO product.
 
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Captive = you can only sell that company's products.

Career = you can sell other company's products. MofO has a relationship with Broker's Clearing House to provide access to other companies so that if Omaha does not have a solution to a need there is a solution with BCH. Example - a client wants a big $1,000,000 Equity Indexed Annuity or a variable product (neither of which MofO offers) and rather than losing that commission the agent turns to BCH and writes the business, thereby not losing the sale. And that sale's NFYC counts towards company trips, recognition awards, etc.

MofO agents can sell whatever they like, although the financial incentive is to sell lots of MofO product.

Do you get a free magazine subscription with every sell? Maybe Ed McMahon drops by?
 
^^

You are conflating Publishers Clearing House with BCH, the latter of which is an insurance brokerage.
 
Captive = you can only sell that company's products.

Career = you can sell other company's products. MofO has a relationship with Broker's Clearing House to provide access to other companies so that if Omaha does not have a solution to a need there is a solution with BCH. Example - a client wants a big $1,000,000 Equity Indexed Annuity or a variable product (neither of which MofO offers) and rather than losing that commission the agent turns to BCH and writes the business, thereby not losing the sale. And that sale's NFYC counts towards company trips, recognition awards, etc.

MofO agents can sell whatever they like, although the financial incentive is to sell lots of MofO product.

Sounds like a Recruiter or DSM's pitch. What happens when you leave? You leave your book of business behind, right? They become orphans that are given to new recruits to "service".
 
Correct - you cannot take your book of business with you if you leave. But then again, how big is the list of companies that do allow you to do so, if you're not an independent?
 
Mass and I believe Guardian and NYL will let you continue to service it. You can roll it after two years.
 
IMHO stay away from the MOO sinking ship. Outdated model. Let's face it, they are weak in comparison to say one of the large "real" or true mutual compaies--those that pay dividends on their whole life. In fact, aside from a final expense policy, MOO doesn't even have whole life; they push IULs to the client's detriment. Do your homework; MOO is second tier...
 
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