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Guest
Guest
Who did you go with for senior market?
Getting Appointed with Colonial Life
- Thread starter Norwayguy
- Start date
Who did you go with for senior market?
B Ray
Expert
A company called Eldercare, from Arkansas one of the largest in this state, we sell in Arkansas,Texas and Tennessee that I know of, I really like the way the company is structured, they have their own brokerage firm and get their own leads and if you get a 'No Sell" they don't charge you for the leads, at least for the new guys, once you get seasoned they charge only for qualified leads, if you go out of town and spend the night away because you have appts the next day,they pick up the hotel bill.Everything sounds real good.
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Guest
Guest
Sounds good. Do you have a link to their website?
Is this a 1099 or W-2 position? It sounds like a W-2, one of my old college roomies works in position similar to this through assurecor? I do believe. Just be cautious when you are in a position like you are, they expect you to produce, if you can not.... Need I say NEXT.
B Ray
Expert
It is a 1099..This company has been around since 1981, he has tweaked here and there to benefit the agents, he retains most all agents, several have been around since mid to late 80's, so he must be doing something right to keep his agents around and to keep them happy to.
It sounds like he might be doing something right, of course as long as you have enough leads, selling a good product then most agents are happy!
Will there be weekly/monthly sales meetings that you must attend?
Will there be weekly/monthly sales meetings that you must attend?
B Ray
Expert
They have a monthly meeting, food provided at local country club, I'm not going to rely on their leads 100%, I have a lot of contacts and live in a retirement area, so I will take their leads as fill ins, they will give me a territory in the state and I will have that area.
Hi Everyone,
I'm new to the forum. I am looking to get into the insurance industry, but I can't seem to decide which direction. I have looked at NYL, Farmer's, Aflac and Colonial. So far I've ruled out Aflac, they seem more like the churn and burn type with their reps and I want a company that will support me with training and experience so that I can succeed and we can all do well, not just the management. My background is in mortgage sales and I am more comfortable with B2B sales so I am leaning toward Colonial just because I don't think I would do well with the "kitchen table" type sales that NYL would require even though I am hearing that they are a great company to work for. But I would love any advice as I am totally green in the insurance arena.
Also, to Labman (I tried to PM you but I don't have enough posts to do that yet).
I was reading your post from back in June and you mentioned you were getting appointed with Colonial. I am considering getting appointed with them, but I could sure use some advice or feedback. Did you end up signing on with them and how are you doing? Would you recommend them?
Thanks!
Alex
I'm new to the forum. I am looking to get into the insurance industry, but I can't seem to decide which direction. I have looked at NYL, Farmer's, Aflac and Colonial. So far I've ruled out Aflac, they seem more like the churn and burn type with their reps and I want a company that will support me with training and experience so that I can succeed and we can all do well, not just the management. My background is in mortgage sales and I am more comfortable with B2B sales so I am leaning toward Colonial just because I don't think I would do well with the "kitchen table" type sales that NYL would require even though I am hearing that they are a great company to work for. But I would love any advice as I am totally green in the insurance arena.
Also, to Labman (I tried to PM you but I don't have enough posts to do that yet).
I was reading your post from back in June and you mentioned you were getting appointed with Colonial. I am considering getting appointed with them, but I could sure use some advice or feedback. Did you end up signing on with them and how are you doing? Would you recommend them?
Thanks!
Alex
Yes, I signed on with them. So far things have went pretty good. Without an insurance background, learning the products has taken a lot more of my time than I anticipated.
My manager has worked hard with me and so have other Colonial agents. I have my first appointment next week and a 25 year Colonial veteran is going out with me to make the call.
In my opinion, they have all the educational tools one needs to get started. The support has been great. I've also focused on selling some individual cancer policies, which I am a great believer of, to individuals to get some income rolling in quickly.
Go to their opener classes, enroller classes and Fast Start class. I think you will be happy.
My manager has worked hard with me and so have other Colonial agents. I have my first appointment next week and a 25 year Colonial veteran is going out with me to make the call.
In my opinion, they have all the educational tools one needs to get started. The support has been great. I've also focused on selling some individual cancer policies, which I am a great believer of, to individuals to get some income rolling in quickly.
Go to their opener classes, enroller classes and Fast Start class. I think you will be happy.
G
Guest
Guest
I think Colonial is a "stand up" company... good products and good people.
The only difficulty is that their market has been hammered by the rising costs of everything. The office worker or blue collar mechanic that had an extra $50 in his paycheck for a cancer plan or medical bridge (supp to pay major med deduct) has seen that gobbled up by Exxon and his local grocery store.
Unlike Aflac, Colonial never had a "plan B" that makes it easy to sell products to individuals. They have been married to payroll-deduct and closed their eyes to a potential market of individual (IFP) sales. (Note: I do NOT represent Aflac, am not appointed with them, etc.)
Also, the commissions at Colonial are to low compared to the amount of work involved, especially for the small office of 10 or 12 people. The average participation in about 65% with an average prem of $50 a month and an average commish of about 22%... do the math. It's fine if it is a two-call deal... open on first call and enroll on second, but it never seems to work out that way. There are always three levels of permissions that have to be received, lots of emails and phone calls. Unless you have a group of 25 or more, Colonial is often a "why bother." You are better advised to sell small group major medical. You will often make more money and it is an "easier" (but not quicker) sale. (There is nothing "quick" when dealing with businesses!)
I'm sure as you progress in this industry you will find that worksite products will become a sideline for you, not your main emphasis... unless you are in the South where benefits are not as "rich" and worksite is better received by the business community.
YMMV.
The Creeper
The only difficulty is that their market has been hammered by the rising costs of everything. The office worker or blue collar mechanic that had an extra $50 in his paycheck for a cancer plan or medical bridge (supp to pay major med deduct) has seen that gobbled up by Exxon and his local grocery store.
Unlike Aflac, Colonial never had a "plan B" that makes it easy to sell products to individuals. They have been married to payroll-deduct and closed their eyes to a potential market of individual (IFP) sales. (Note: I do NOT represent Aflac, am not appointed with them, etc.)
Also, the commissions at Colonial are to low compared to the amount of work involved, especially for the small office of 10 or 12 people. The average participation in about 65% with an average prem of $50 a month and an average commish of about 22%... do the math. It's fine if it is a two-call deal... open on first call and enroll on second, but it never seems to work out that way. There are always three levels of permissions that have to be received, lots of emails and phone calls. Unless you have a group of 25 or more, Colonial is often a "why bother." You are better advised to sell small group major medical. You will often make more money and it is an "easier" (but not quicker) sale. (There is nothing "quick" when dealing with businesses!)
I'm sure as you progress in this industry you will find that worksite products will become a sideline for you, not your main emphasis... unless you are in the South where benefits are not as "rich" and worksite is better received by the business community.
YMMV.
The Creeper
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