Decisions Decisons Decisions... Maybe You Can Help

[Newguy12]

Hey guys I am trying to make a decision on what company to go to and I know many of you probably have experience with all of these companies and maybe you can share your experience so I don't make the wrong choice. I'm looking into NYL, PENN Mutual, Prudential and they all seem to have their pros and cons but obviously on paper any of these can look like a good choice but I feel once the decision is made the true colors of the company is shown so that's why I am asking for a little direction.

One of my concerns with NYL is they do not offer index annuities through NYL or through brokerage and I do like to sell them. Penn is willing to give a monthly $1000 but I need to hit certain benchmarks to maintain but it is nice to see a company put a little skin in the game. Prudential wants me to get my series 6 upfront which I'm not really a fan of cause I like to be able to offer guarantees and I feel like making this switch is a big enough deal that I didn't want to add additional stress and would like to have the option but they said I have to get the 6 within the first 90 days.

I am uncertain of the company quotas to maintain my contract but I think they were in the low $20k's which shouldn't be to difficult but I want to be able to sell brokerage business also. I am also wondering what the commission percent is from these companies as I will be coming on as an "experienced agent"

Thanks

 

[xrac]

If I like FIA's I wouldn't do NYL then.

 

[Newguy12]

If I like FIA's I wouldn't do NYL then.

I'm dealing with the same thing with Pru not having a Whole Life product but it seems like WL isn't very popular with career companies anymore.

 

[Larry Tew]

I'm dealing with the same thing with Pru not having a Whole Life product but it seems like WL isn't very popular with career companies anymore.

Guardian, Mass, Met, NYL, Penn & Ohio National (career divisions) might disagree. I'm sure I missed some.

 

[VolAgent]

For the most part, with Penn Mutual being the only exception I'm aware of, either you get indexed products or par-WL, not both.

They tend to compete with each other for premium.

 

[Newguy12]

For the most part, with Penn Mutual being the only exception I'm aware of, either you get indexed products or par-WL, not both.

They tend to compete with each other for premium.

Do you think Penn is better than NYL?

I like penn but they operate under a agency name which I feel loses name recognition like a Pru or NYL. My big hang up with NYL is not being able to sell index annuities with Allianz and the fact they don't offer any financial support.

 

[VolAgent]

Do you think Penn is better than NYL?

I like penn but they operate under a agency name which I feel loses name recognition like a Pru or NYL. My big hang up with NYL is not being able to sell index annuities with Allianz and the fact they don't offer any financial support.

I'd go with the one where I think the manager is most likely to teach me to be successful. Who cares about the name if you don't know how to prospect and sell? Who cares if you can't sell a particular product if you are successful?