Will Met Life terminate an employee with 39 years service because of lower sales than the DM and DMM prefers? I'd say probably not. Question answered! I only wished I'd had had an opportunity to read something like these forum posts 16 years ago before I took the leap of faith, bad decision as I look back now. How can you respect a DM who gives no support, play favorites, and fires tenured agents because he wants to give their PIF to a new recruit - right, you can't. Shame on Farmers!!!!!!!!!!!!!
Farmers Vs Met Life
- Thread starter joe26
- Start date
baggins415
Expert
re: Farmers - I think you should always be very skeptical when you go on any job board (hotjobs, craigslist, etc) and every other ad is about 'owning your own agency' It's apparent that the farmer's business model is about throwing as much sh*t against the wall to see what sticks. IMO that business is an ugly grind and the commission is split between way too many middle men for it to ever be worthwhile. If I were you, I'd find a good local PC broker and get a job there. That way you'll learn the business and probably have a niche or two to work in too. Most commercial PC brokers I know have a niche. If I were still working PC I would only work the commercial angle.
re: MetLife / NYLife / Pru / Northwestern Mutual / Mass Mutual etc:
Along the same lines as Farmers, no marketing plans for their agents. They just rely on each newbie selling 5-10 policies to their family members before they burn out and get banned from their own family gatherings. I've always looked at the TV marketing for these companies not so much geared at the insurance buyer but rather at the agent fresh out of insurance school. That's where these company's bread and butter comes from. Churn and burn agents and milk at least a few policies out of each one. Very effective!
[email protected]
4 better insurance contracts, leads, ideas - say hi....
re: MetLife / NYLife / Pru / Northwestern Mutual / Mass Mutual etc:
Along the same lines as Farmers, no marketing plans for their agents. They just rely on each newbie selling 5-10 policies to their family members before they burn out and get banned from their own family gatherings. I've always looked at the TV marketing for these companies not so much geared at the insurance buyer but rather at the agent fresh out of insurance school. That's where these company's bread and butter comes from. Churn and burn agents and milk at least a few policies out of each one. Very effective!
[email protected]
4 better insurance contracts, leads, ideas - say hi....
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- 11,519
re: Farmers - I think you should always be very skeptical when you go on any job board (hotjobs, craigslist, etc) and every other ad is about 'owning your own agency' It's apparent that the farmer's business model is about throwing as much sh*t against the wall to see what sticks. IMO that business is an ugly grind and the commission is split between way too many middle men for it to ever be worthwhile. If I were you, I'd find a good local PC broker and get a job there. That way you'll learn the business and probably have a niche or two to work in too. Most commercial PC brokers I know have a niche. If I were still working PC I would only work the commercial angle.
re: MetLife / NYLife / Pru / Northwestern Mutual / Mass Mutual etc:
Along the same lines as Farmers, no marketing plans for their agents. They just rely on each newbie selling 5-10 policies to their family members before they burn out and get banned from their own family gatherings. I've always looked at the TV marketing for these companies not so much geared at the insurance buyer but rather at the agent fresh out of insurance school. That's where these company's bread and butter comes from. Churn and burn agents and milk at least a few policies out of each one. Very effective!
Hire 'em in masses
Teach 'em in classes
Sell all their friends and
Fire their asses!
- 409
Met, at least on the Auto & Home side of things, is more about keeping agents. In fact the district managers are compensated in a way that depends on them hiring agents that will stick around. That being said they have requirements. But they're fixed by the company, straight forward and not open to interpretation. So a Met A&H manager can't just get rid of an agent even if he wanted to.
I have no idea how it works on the financial services side of things, although they do seem to have more turn over. But nothing like I've seen at other companies.
I have no idea how it works on the financial services side of things, although they do seem to have more turn over. But nothing like I've seen at other companies.
- 428
DHK I didn't know you where a poet???
I became a Farmers Reserve agent last Sept. and quit in Dec. Had 50+ leads cross my desk and couldn't sell a one. Their rates are beyond horrible. The DM told me I couldn't sell on price, only product value. WTF? How can you sell something when your rates are 50 - 75% higher? "We are Farmers...dum dum dum dum dum dum dum". DUMB! I wouldn't recommend my worst enemy to this horrid company.
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MetLife is for Life
- 11,519
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