Colonial Life Vs. Allstate

[michiganagent]

I've been selling individual health for 6 years as an independent agent here in Michigan. Due to changes in healthcare law, I'm getting my P&C.

I've been approached by Colonal Life to sell their Medical Bridge 3000 to groups of employees. I've also been approached by Allstate to sell P&C.

I'm looking for some feedback from those experienced with either Colonial Life or Allstate or both.

Assuming I'm good at closing leads, which route do you think has the most revenue potential for the effort?

Thanks for your feeback

 

[michiganagent]

I would run from both. There are better opps out there. Colonial does not seem to be a whole lot better than Aflac and allstate is trying to wash their hands of agents and go direct.
Just my 2 cents

Can you give me a couple of examples of better opps?
Thanks

 

[NCAgent]

Can you give me a couple of examples of better opps?
Thanks

Which do you want to do? That's like saying I want to be a doctor or I want to do research. Both have a similar degree but 2 different approaches altogether. Pick which one interests you and work from there.

You are seriously asking us about going L&H or P&C. 2 totally different things.

 

[michiganagent]

Which do you want to do? That's like saying I want to be a doctor or I want to do research. Both have a similar degree but 2 different approaches altogether. Pick which one interests you and work from there.

You are seriously asking us about going L&H or P&C. 2 totally different things.

I know they are different. I'm asking about the companies. Do you have anything pro or con or experience with either company?

 

[xrac]

I know they are different. I'm asking about the companies. Do you have anything pro or con or experience with either company?

I think selling Colonial would be o.k. as long as you are able to sell other products as well. Are we talking broker or captive. Allstate I would avoid as far as starting or buying a agency.

 

[michiganagent]

I think selling Colonial would be o.k. as long as you are able to sell other products as well. Are we talking broker or captive. Allstate I would avoid as far as starting or buying a agency.

As an independent agent with Colonial, I can continue to sell anything I want in health and P&C. Yep, I have no interest in being the owner of Allstate agency. I would just be a producer but as an employee of an Allstate agency, I would be punching their time clock probably 10am-6pm.

However, some of the Allstate agencies allow their producers to sell life and health outside of Allstate while focuing on Allstate P&C.

 

[Josh]

I'm not convinced anyone on this thread knows anything about Allstate.

It sounds like we're comparing apples with onions, so let me ask a few questions.

Colonial is probably a garbage opportunity, but what is their plan for you? That's a very competitive market with few players and many new agents with a dollar and a dream.

Is Allstate for being an agency principal or to work in their office?

It seems like you're being offered a likely-to-fail commission only "position" and a salaried Allstate position, but "Allstate" can mean any of the following:
-Sell life to existing book commission only
-Salaried CSR
-Salaried Sales
-Agency Principal
- - - - - - - - - - - - - - - - - -

I would run from both. There are better opps out there. Colonial does not seem to be a whole lot better than Aflac and allstate is trying to wash their hands of agents and go direct.
Just my 2 cents

What on earth are you basing that on?

 

[NCAgent]

Allstate is a fantastic company to work for, but it wasn't for me. I didn't like my agent and didn't like the underwriting in my area compared to other companies. But they are a good company, IF you decide P&C is right for you. You also might like Colonial, but have you looked at AFLAC? What about Colonial is nicer *to you* about Colonial compared to AFLAC? Have you done due diligence on both companies, and Allstate?

You could have 50 people all say go to Metlife and how it is an awesome company and the sun rises from Snoopy's ass. But you can go there and have a crappy manager and it doesn't matter what good the company is. 10 people will say the sun rises from snoopy's ass while another 10 might say NYL or NWM does, and etc. You won't get a good review all around for any one company.

Think of what you want to do and what companies fit that, then go out there and learn. There is too much of a variable based on where you go to work- most of the help is from your upline/manager, not from the company itself. Go get a feel for WHERE you work and WHO you work for, then worry about the products afterwards. Most of the time the products align with your goals, but sometimes it doesn't. Find out if you like P&C, L&H, or just money. Then go from there based on the opportunities.

 

[michiganagent]

I've been an independent agent working from my home-based office for 6 years 100% commission. Be doing great until new healthcare laws made health insurance companies slash what they pay in commissions and residuals.

So... I'm getting my P&C and also want to continue with Life and Medicare Supplement.

I just wonder if Allstate would be a good training ground for learning to sell P&C.

Meantime, someone from Colonial Life is pitching me to remain independent and rep them with their Medical Bridge product.

I simply was looking for feedback pro or con about each company. Looking for some agents who have worked either one or both.

So I appreciate any feedback. I'm not turned off by 100% commissions. I'm doing that right now. It's just that the healthcare niche is going to dry up with the new laws.

So maybe some people with some specifics pro and con about Allstate (I don't want to own a store just work as a producer) or Colonial Life can give me some feedback.

Thanks
- - - - - - - - - - - - - - - - - -

Allstate is a fantastic company to work for, but it wasn't for me. I didn't like my agent and didn't like the underwriting in my area compared to other companies. But they are a good company, IF you decide P&C is right for you. You also might like Colonial, but have you looked at AFLAC? What about Colonial is nicer *to you* about Colonial compared to AFLAC? Have you done due diligence on both companies, and Allstate?

You could have 50 people all say go to Metlife and how it is an awesome company and the sun rises from Snoopy's ass. But you can go there and have a crappy manager and it doesn't matter what good the company is. 10 people will say the sun rises from snoopy's ass while another 10 might say NYL or NWM does, and etc. You won't get a good review all around for any one company.

Think of what you want to do and what companies fit that, then go out there and learn. There is too much of a variable based on where you go to work- most of the help is from your upline/manager, not from the company itself. Go get a feel for WHERE you work and WHO you work for, then worry about the products afterwards. Most of the time the products align with your goals, but sometimes it doesn't. Find out if you like P&C, L&H, or just money. Then go from there based on the opportunities.

Excellent points! Thanks

 

[Josh]

Colonial is going to be tougher than health insurance.

Could you tell us more about what type of an Allstate opportunity you're looking at. If it's just to go work in an office as a producer it's probably a much better deal than Colonial.