Desperate and in Need of Help and Advice.

[Newguy12]

Guys I have been working for the knights of Columbus insurance for a few months now and I could really use your advice and any suggestions.

They have given me a list of 800 "members" which I can only sell to them and their wife and children under 18. If I want to sell anyone who is not a member they MUST join the Knights. They really push for selling life apps and want me to sell 100 per year in on the same 800 people along with if I sell less than 52 they will cut my territory along with taking away my health benefits.

They really have no push or want for annuity business but they push for the DI and LTC but will not give you application credit for that business. I have seen guys sell 1or2 apps during a month for $10k in comm and were told to sell more apps and the guys who sell 8-14 apps for $1000-$2k get a pat on the back, seems like a backwards way of looking at a commission only job or maybe I am wrong.

Not really sure what to do since this is my first insurance job and I don't have any experience finding my own clients/leads. Should I just ride it out or jump ship now?

 

[Newby]

Guys I have been working for the knights of Columbus insurance for a few months now and I could really use your advice and any suggestions.

They have given me a list of 800 "members" which I can only sell to them and their wife and children under 18. If I want to sell anyone who is not a member they MUST join the Knights. They really push for selling life apps and want me to sell 100 per year in on the same 800 people along with if I sell less than 52 they will cut my territory along with taking away my health benefits.

They really have no push or want for annuity business but they push for the DI and LTC but will not give you application credit for that business. I have seen guys sell 1or2 apps during a month for $10k in comm and were told to sell more apps and the guys who sell 8-14 apps for $1000-$2k get a pat on the back, seems like a backwards way of looking at a commission only job or maybe I am wrong.

Not really sure what to do since this is my first insurance job and I don't have any experience finding my own clients/leads. Should I just ride it out or jump ship now?

You need to kick them to the curb and get a real insurance job. What attracted you to them anyway? Free health insurance? Are you completely uninsurable? Get your own health insurance.

That company sounds like they are designed to breed failures.

 

[ctg]

Can you work outside of Knights of Columbus? I assume you are captive with them.

800 members to sell to seems like a small demographic to work and make a living. I'll try to work a list of 1000 local names 3-4 times within a couple of weeks. Other agents on here will burn through that a whole lot quicker.

Can you enlighten me about becoming a member to buy? Foresters is a fraternal and you become a "member" just by applying. You get some additional benefits as a member as I understand (I don't sell much FE so far). Is it like that or completely different?

 

[Newguy12]

What attracted me was the list of people but I am quickly finding out you can go though that list quickly.

You need to kick them to the curb and get a real insurance job. What attracted you to them anyway? Free health insurance? Are you completely uninsurable? Get your own health insurance.

That company sounds like they are designed to breed failures.

 

[Newguy12]

No your not allowed to work outside. They pitch the 800 as warm leads since you have a common bond as being a member of the organization but I feel that may have been the way back 20-30 years ago but now people don't want to be bothered by another agent working the same people over and over again and people don't care about the member benefits they only want what is best for their dollar.

Can you work outside of Knights of Columbus? I assume you are captive with them.

800 members to sell to seems like a small demographic to work and make a living. I'll try to work a list of 1000 local names 3-4 times within a couple of weeks. Other agents on here will burn through that a whole lot quicker. The advantage is that you can get a appt pretty easy with most but it turns out to be service work on existing policies sold by past agents and even if the policies aren't good you cannot replace them internally because they won't pay you.

Can you enlighten me about becoming a member to buy? Foresters is a fraternal and you become a "member" just by applying. You get some additional benefits as a member as I understand (I don't sell much FE so far). Is it like that or completely different?

 

[Cenla Agent]

From what I recall when I was selling their Med Supps, you become a member of United Commercial Travelers when applying as well. This includes paying a fraternal fee. The difference with selling UCT or Foresters etc. is that you're not captive. Don't those buying from Modern Woodmen or Woodmen of the World have to become members as well? That's basically the whole idea, and emphasis is often placed on the value of the fraternal benefits to overcome price objections. Of course, the difference with MWA or Foresters is that joining them doesn't involve having to be an adherent to a particular religion, unlike the KoC or Thrivent for Lutherans.

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Newguy, it does sound like this is not a good opportunity. From what you've posted here, the only way I could see it working is to be absolutely "all in" for the Knights of Columbus and have such a belief in that organization that you're highly driven to get as many people into it as possible. (Perhaps that describes the high volume sellers there?)

I'd have to think you'd also need to be in an area in which if you throw a rock you'll hit a Catholic. With regard to prospecting, what you need is a big list of Roman Catholics in your area/territory who you can approach since that's evidently the main prerequisite for who can join the KoC.

However, if you're just wanting to sell insurance and want to have access to many other products and companies, best to look into another opportunity.

 

[NCAgent]

I have a hard time swallowing anyone telling me I can only market to certain people. That is instantly limiting your success to someone else's arbitrary standards.

I'd go move- you have a handicap and the trade off benefit isn't exactly stellar

 

[Midlevel]

The KofC agent's I know do well but they are very pushy because they have no choice. You call the same people over and over and try to get an appointment set up. They do not offer Medicare product's so it is indeed mainly life insurance and LTC and most recently DI. In order to become a Knight they have to go through an initiation process and then they are fair game to sell to.

 

[TwiLight]

KofC members are also indoctrinated in supporting Catholic causes and know that purchasing through the fraternal organization for Life Insurance is a direct benefit to their organization and the member dedicated to selling it. App Count is a direct recruiting method for the Knights. The only way to make it is to sell outside of the knights. Commission percent is not as important as members.

That said. you can only peel an orange so many times and most knight agents I know do not last as a full time agent, only the part-timers make it.

If you want to be a full time agent, you will have to kick them loose.

 

[Newguy12]

I agree but my concern is more or less that I do not have ANY experience in finding my own leads and prospects and where to go next.

KofC members are also indoctrinated in supporting Catholic causes and know that purchasing through the fraternal organization for Life Insurance is a direct benefit to their organization and the member dedicated to selling it. App Count is a direct recruiting method for the Knights. The only way to make it is to sell outside of the knights. Commission percent is not as important as members.

That said. you can only peel an orange so many times and most knight agents I know do not last as a full time agent, only the part-timers make it.

If you want to be a full time agent, you will have to kick them loose.