Compensation for Captive Agents

[Koffee]

Hi there,
I'd like to understand better how are captive agents compensated, for example at New York Life (called sales agents there). I get that it's somehow in the 30-50k if you perform decently in your first year, but to see if this is a viable career for me, I'd like to understand better the big picture: the standard level of commissions per type of products, bonus structure, base salary (probably small), any tiering... If anyone would have some estimate or could share a document that has these information, that'd be terrific.

Basically, something close to what can be find for group life on the Metlife website (won't let me put link) but for selling to individuals
Thanks!

 

[bluediamond]

Don't know how being captive with NYL is, but certainly get trained and the license's you need and go independent. Captive agents end up somewhat unhappy down the road.

 

[Koffee]

I agree with the long-term plan. Trying to see how the short-term plan could work out

 

[timmyl777]

I worked as a captive agent for Liberty National for a year and 1 month. I learned quickly though that it's better to be an independent agent than a captive one. I did my research and found an insurance brokerage that has about 70 carriers within their group and commissions pay as high as 115%. if you're interested in knowing more about this brokerage you can email me at [email protected].

 

[Josh]

I worked as a captive agent for Liberty National for a year and 1 month. I learned quickly though that it's better to be an independent agent than a captive one. I did my research and found an insurance brokerage that has about 70 carriers within their group and commissions pay as high as 115%].

What brokerage is that? The highest they have is 115%? Not even a token carrier to be able to advertise 120%+?

 

[xrac]

NYL should provide you with a compensation schedule if you are interested in working for them.

 

[timmyl777]

What brokerage is that? The highest they have is 115%? Not even a token carrier to be able to advertise 120%+?

believe me.... I did a lot of research looking for the right group brokerage to get under. you can email me at TIMMYL777@ Hotmail.com and I'd be more than happy to give you the details & trade phone numbers if you want to talk on the phone.