Family Heritage Life

Dec 10, 2015

  1. suzys
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    suzys Expert

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    Anyone have experience with this company? Pros and Cons..thinking about starting over in insurance and just going for it lol..why have a license just to be in my pocket..anything there is a learning curve. Only worked at Mutual of Omaha 2 months which was a revolving door a few years back. Thanks all for any comments and have a great Christmas:yes:
     
    suzys, Dec 10, 2015
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  2. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    Family Heritage Life Insurance Company

    I have no knowledge of them other than what's on their website. Based on their product line, they are more comparable to Combined Insurance and/or AFLAC. They sell supplemental health & a basic, non-par whole life. My guess is that you won't see anything above a 50% commission structure.

    Not exactly a direct comparison to working with Mutual of Omaha.
     
    DHK, Dec 10, 2015
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  3. goillini52
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    goillini52 MAGA...Eat More Bacon & BUILD THAT WALL!!!

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    They're a recent addition to the Torchmark family.
     
  4. suzys
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    suzys Expert

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    ouch..like Combined..tried that few years ago to and was such a joke ..Mut of Omaha a captive mess..now unsure but may go ahead and listen at a webinar. Only reason considered is I am a single Mom and they offer weekly salary and/or commission. Thank you both and have a great Christmas!!
     
    suzys, Dec 11, 2015
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  5. wealth2u
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    wealth2u Expert

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    Been with Family Heritage for over 10 years. Just do my own thing. Loved it when I first was with them. I don't recruit. But when Torchmark took over it changed. Recently on one of their communications they stated "we are a recruiting company that sells insurance". So if you want to continually recruit others then you may enjoy it.

    A lot of their field managers did come from Combined. Depending on your manager you may get good door to door training. Commission level will be low to allow for the different management levels. Commission only. Never heard of the weekly "salary". I would check to make sure it is not a "draw" against your commissions. I have never had anything other than "advances". Usually they will have a 5 year vested schedule that means your renewals are vested a certain amount after 2 years etc. until you are fully vested after 5 years. So if it does not work out for you and you leave after 10 months not only does your manager get to keep your renewals but they also will keep any NEW commissions after your term date. This could leave you with a debit balance that you will be contractually liable to pay even though they are keeping your new commissions.

    The only similarity to your time with Mutual of Omaha would be the revolving door. You will be captive with FH.

    Pros:
    1. You can build up lifetime renewals IF you stick with it for at least 5 years.
    2. Policyholders usually keep the policy if they have had it for a while because of the ROP feature.
    3. Home office claims and staff are really great to work with.
    4. May get good door to door training if you get a good manager.

    Cons:
    1. May run into other FH agents. Other FH agents have gone on and sold other products to many of my policyholders. Hard enough out there competing with other companies let alone competing with agents from your own company.
    2. Will be working long hours (mostly evening) going door to door cold calling with no benefits.
    3. May be left with a sizable debit balance if things do not work out.
     
    wealth2u, Dec 12, 2015
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  6. rousemark
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    rousemark Still Here!

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    Everything Torchmark touches goes downhill.
     
  7. goillini52
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    goillini52 MAGA...Eat More Bacon & BUILD THAT WALL!!!

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    Speaking from personal experience...I agree with you.:mad:
     
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