Comparison of agencies
- Thread starter JEmmy
- Start date
- 11,289
Not a whole lot here on OneAmerica, but they do support some advanced sales and problem-solving concepts for their whole life insurance sales.
Bankers Life... just do a search. Not a great reputation.
New York Life and Northwestern Mutual are more "captive" than MassMutual & Guardian. I say that because you cannot 'broker' for Northwestern Mutual. You could for New York Life, if you submit at least $20,000 premium in order to be appointed as a broker. MassMutual and Guardian already allow brokers to sell their products.
I mention this because, if you should happen to leave, you can still serve your clients as a broker if the company allows. Note that you'll still be subject to a non-solicit agreement for your personally sold policies as well as the other agents.
HOWEVER... before you think that Mass & Guardian are the 'cats meow'... keep in mind that they work on a general agency system and each office can be very different from each other.
Do you have a specific question or concern?
Bankers Life... just do a search. Not a great reputation.
New York Life and Northwestern Mutual are more "captive" than MassMutual & Guardian. I say that because you cannot 'broker' for Northwestern Mutual. You could for New York Life, if you submit at least $20,000 premium in order to be appointed as a broker. MassMutual and Guardian already allow brokers to sell their products.
I mention this because, if you should happen to leave, you can still serve your clients as a broker if the company allows. Note that you'll still be subject to a non-solicit agreement for your personally sold policies as well as the other agents.
HOWEVER... before you think that Mass & Guardian are the 'cats meow'... keep in mind that they work on a general agency system and each office can be very different from each other.
Do you have a specific question or concern?
- Thread starter
- #3
- 11,289
Nope. You've got the direct recognition vs non-direct recognition, early cash values vs later dividends, custom policies vs limited pay policies, and especially compliance that will either let you (or not) talk about tax planning in regards to maximum-funded life insurance.
I'll throw in another company you didn't mention: Ohio National.
This consumer approved marketing piece talks about the tax diversification in retirement and which accounts generate 1099 forms... and which ones don't.
Diversify Your Retirement Plan Supplement (1099).pdf
Now, the mere FACT that this piece was approved for consumer use (versus "for professional use only") probably says something about Ohio National's stance for how they want their agents to work, sell, and fund their contracts.
Most other companies... they don't want you talking about tax issues unless you're a CPA. Also, they want to appease more of the "Fee-based" planning crowd. Considering that Northwestern Mutual is a founding sponsor of the CFP Board Center for Financial Planning... that probably can tell you where they sit on how they want to be perceived:
The CFP Board Center for Financial Planning
Btw, I've just started my CLU studies. And I'll say this about the Individual Life Insurance course: so far, it's a waste of time. You can learn FAR more from this series of books than you would with designation studies. (Never thought I'd say this, and CLU is still on my "career bucket list"... but there are far better resources to learn from today.)
Amazon product ASIN 0741471914Amazon product ASIN 0741499762Amazon product ASIN B0842YHBT6
I'll throw in another company you didn't mention: Ohio National.
This consumer approved marketing piece talks about the tax diversification in retirement and which accounts generate 1099 forms... and which ones don't.
Diversify Your Retirement Plan Supplement (1099).pdf
Now, the mere FACT that this piece was approved for consumer use (versus "for professional use only") probably says something about Ohio National's stance for how they want their agents to work, sell, and fund their contracts.
Most other companies... they don't want you talking about tax issues unless you're a CPA. Also, they want to appease more of the "Fee-based" planning crowd. Considering that Northwestern Mutual is a founding sponsor of the CFP Board Center for Financial Planning... that probably can tell you where they sit on how they want to be perceived:
The CFP Board Center for Financial Planning
Btw, I've just started my CLU studies. And I'll say this about the Individual Life Insurance course: so far, it's a waste of time. You can learn FAR more from this series of books than you would with designation studies. (Never thought I'd say this, and CLU is still on my "career bucket list"... but there are far better resources to learn from today.)
Amazon product ASIN 0741471914Amazon product ASIN 0741499762Amazon product ASIN B0842YHBT6
- 16,895
Bankers Life is not even in the same league as the others you listed.
VanguardGroup
New Member
- 2
You have to decide if you want to be a "captive" agent (contracted to one single insurance carrier) or an "independent broker" (representing multiple insurance carriers). I'm sure there are positives and negatives with both--but my preference is to be an independent broker because when I walk into the home of a potential client I have at my disposal dozens of different products from 15+ carriers. This gives me the maximum probability of being able to offer the best possible product for that client. If I'm captive, I am limited to only the products that are offered by that one single carrier. In short, my probability of being able to service my client AND make a sale and commission is much higher as an independent broker.
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