Experienced Independent Life Insurance Agent Seeking New Mentor (Phoenix, AZ)

[antireed]

My name is Steven (28).

I am currently licenced in the state of Arizona as a life insurance producer. I have been selling life insurance throughout the Phoenix Metropolitan area for two years as an independent agent and am in search of an honest, experienced mentor to assist me with my continued development as a sales agent in this industry.

Since earning my licence, I have been contracted with two different insurance agencies that engaged (and probably continue to engage) in malpractice.

Both these agencies train and develop their contracted agents with dishonest and misleading sales tactics: specifically, calling to book appointments as person A -- a member of a fictitious lead distribution company -- in an attempt to book an appointment for themselves as person B --an employee of the bank the clients' home loan originated from.

Furthermore, after seeking an independent lead source outside of these agencies, I was unfortunate enough to have partnered with an IMO that sold me "hot leads" that might as well have been randomly selected names from the phone book. Most of the "clients" issued to me were people who had never expressed interest in life insurance to begin with.

Any salesman/saleswoman knows that the biggest obstacle in ANY sales funnel should be booking the appointment and getting in front of the client...not losing the lead by finding out that the client never requested a call in the first place.

However, I have not yet given up hope.

As of now, I am avidly looking to find a local sales agent with a great deal of conviction and integrity; someone who is willing to take me under his or her wing and mentor me as a needs-based, people-oriented salesman.

Here are my requirements:

• Term Life Only
• Has a reputable lead source (I am looking to spend $2,000/month on quality leads)
• Can meet on a bi-weekly basis at the minimum
• Contracted with Mutual of Omaha (my primary arrow in my quiver)
• Willing to assist me with building a network of new agents

Should you feel that you can commit to further developing me, I promise I will dedicate everything I have to this mentorship.

YOU WILL COLLECT SIGNIFICANT OVERRIDES SHOULD I SELECT YOU AS MY MENTOR!

Please email me at steven.manausa(AT)manausacorrelative(DOT)com if you are able and willing to mentor me.

Thank you in advance!

 

[WinoBlues]

One post would have done it.

Multiply this post 10 Xs.

 

[DHK]

Your requirements mean nothing. In fact, they may be your stumbling block. Get "your needs" out of the way, and you just might become open-minded.

BTW, you're definitely putting the "cart before the horse" by talking about recruiting agents at this stage of the game.

Based on the tone of your post, I'd recommend hanging out in the FE forum. I think your line of thinking will fit best there, plus you'll find out how to sell 'final expense' policies as well as term policies. There are people who have lead sources available and it'll lend itself to daytime activity. You'll need to contract with more companies than Mutual of Omaha though.

 

[antireed]

My requirements mean nothing? No. My requirements mean nothing to you, which doesn't mean much coming from someone who essentially just advised me to open my mind by downgrading my integrity to the Final Expense arena.

Been there, done that...I'll spare you any further nostalgia, but I will say that it definitely left a bad taste in my mouth.

In a nutshell, final expense is a three ring circus of morally bankrupt snake oil salesmen seeking a quick commission from selling whole life to senior citizens who are too uninformed to know that their dollar would stretch a lot farther if they were to buy a term life policy and invest the difference in savings in a tax-deferred investment vehicle.

Am I wrong? Please enlighten me if I'm off course here.

Based on the tone of your post, it seems that you almost feel annoyed that I actually have rigid standards that I'm sticking to -- one of which being my unwillingness to sell anything other than term life with a select few companies. I'd recommend recruiting at a title loan agency. I think your line of thinking will best fit there.

 

[DHK]

Wow. You certainly don't know the value of whole life policies and are quite closed-minded to them because they are the BEST value for seniors who won't qualify for anything else. They probably tried to "buy term and invest the difference"... but life failed them and they still want some kind of insurance.

Usually someone looking for mentorship should have an OPEN mind. Your response clearly shows otherwise.

I simply directed you to a resource that would fit exactly what you were looking for - buying leads and working them. Those in the FE forum do exactly that. But since you're closed-minded... don't bother.

 

[walthamny]

Well, I won't be as nice as DHK. I don't think you would make it at title loan agency either. You will not find anyone who is successful selling life insurance to agree to your terms. I am sure you will find some mentors who are more interested signing you up with their agency. Good luck in your next career.

If you don't want to listen to us and you won't quit yet, then please read Frank Bettger How I raised myself from failure to success in selling about 20 times. Then re post your question here.

 

[antireed]

Of course I wouldn't make it at a title loan agency...for the same reason I couldn't make FE work for me: I actually have a conscience that refuses to even entertain the idea of making a living as a glorified conman.

It's no coincidence nearly every financial advisor (including Dave Ramsey) shares the same sentiment and tell their clients to stay the hell away from whole life insurance. It's a scam. So yes, DHK, I do apologetically have a closed mind when it comes to final expense, which is not anything I feel I should be ashamed of.

Walthamny, I really do not have an issue getting signed on with another agency. How else do you suppose I move forward? I don't plan on being a complete nomad. I just have some very serious concerns with the lack of integrity I have encountered in the past from some of the shadiest agencies in the marketplace. I've been burned and f**ked over in the no-too-distant past. As a result, my guard up and am extremely selective at this point.

 

[WinoBlues]

Of course I wouldn't make it at a title loan agency...for the same reason I couldn't make FE work for me: I actually have a conscience that refuses to even entertain the idea of making a living as a glorified conman.

It's no coincidence nearly every financial advisor (including Dave Ramsey) shares the same sentiment and tell their clients to stay the hell away from whole life insurance. It's a scam. So yes, DHK, I do apologetically have a closed mind when it comes to final expense, which is not anything I feel I should be ashamed of.

Walthamny, I really do not have an issue getting signed on with another agency. How else do you suppose I move forward? I don't plan on being a complete nomad. I just have some very serious concerns with the lack of integrity I have encountered in the past from some of the shadiest agencies in the marketplace. I've been burned and f**ked over in the no-too-distant past. As a result, my guard up and am extremely selective at this point.

I am guessing you are young in the insurance business as well as in years. To make blanket statements like that you simply do not know what you do not know.

 

[wln417]

Why do you need a mentor? You have settled on a company, you have $$$ for leads, you have your ethics - just what will a mentor do for you? At 28 and 2 years in, isn't it past time for hand holding?

Sounds more like you need a good lead company. Find that, and go for it. There is no secret sauce. Just meet with the people. Go to lifehappens.org and use their calculator to find out how much they need, show 'em what MOO charges in premium, and ask if they're in or out. If they're in, e-app 'em, and on to the next.

 

[DHK]

It's no coincidence nearly every financial advisor (including Dave Ramsey) shares the same sentiment and tell their clients to stay the hell away from whole life insurance. It's a scam. So yes, DHK, I do apologetically have a closed mind when it comes to final expense, which is not anything I feel I should be ashamed of.

Final expense whole life... and traditional whole life have only 2 things in common: Guaranteed premium and Guaranteed death benefit. Other than that, final expense is for older people who cannot generally afford, nor qualify for traditional, dividend-paying whole life generally from a mutual insurance company. See? You didn't know that, did you?

Dave Ramsey is NOT a financial advisor. His disclaimers on his show state that. He is a financial entertainer and author. He has no financial credentials to speak of AT ALL. Although I've heard that he had an insurance license once. At least Suze Orman has a CFP, an insurance license in California, and held securities licenses. Her problem is that her information and advice is vastly out of date. She doesn't know everything that's available now.

Here's the thing though: those who sell a lot of life insurance... sell permanent as well as terminating. If you were really looking for mentorship, you would have to have your mind open to learning about these concepts.

And no, I'm not going to teach you. There is plenty on this forum though, if you want to search mine, Winoblues, Scagnt83, BNTRS, and Larry Tew's posts.

But wln417 is right: all you need is a good lead source and you'll be all set with your business model. You already know what you know, so stick with it and go see people.