Great American Senior Benefits
- Thread starter mswebb06
- Start date
- 16,880
It all comes down to the local management with the companies. In some areas the Great American is probably fine. In my area it is basically Bankers Life part 2 (as all the management and salespeople jumped over from Bankers.) That might make a good screening question...have you ever worked at Bankers?
In others Physicians, Mutual of Omaha, American General, Monumental, Western Southern...the list is endless. ANy of them could be good or bad choices depending on your local management.
I don't think I would want to be a long termer with any of them. By long termer I mean more than 3 or 4 years. Do a good job, learn your craft and when you are ready to go on your own, make a clean break and start fresh.
Don't try to convert your book of business away or steal agency lists or any of that trash. Starting over is the price you pay for learning and then you can go make your own fortune with your knowledge and proper training.
But first you should make a point of checking out all the agencies in your area and figuring out which seems like a good fit.
That's the path I would take if I were in your shoes.
You are correct. Most of them jumped over from Bankers. Though, they are a better start than bankers because you can offer more companies. Bankers only has Bankers products and they are ALL over priced.
I'd say to the OP go to Great American for the training and then plan on getting out of there after 6-12 months and go indy. I say this because the longer you wait the longer you have to wait to get your own residuals.
They did train me well and their commissions aren't too bad compared to others. But, you will easily get more once indy
minthorn
New Member
Get appointed with Wellcare; having just come off sanctions their training is first rate.
- 16,880
I saw that ad too. Yes that is the same agency. Maybe they are dropping their association with Great American and going full independent. That's usually a wise move in my opinion.
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From the looks of this website About - American Senior Benefits it looks like there is still strong ties to Great American but offers other companies also to stay more competitive.
Probably a decent place for green agents to learn the basics. I wonder how the commission structure is? I assume they take a huge haircut and have to buy in-house leads but who knows.
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Did you see the funeral home ad also? Do you know who that is?
I
inspro
Guest
ASB bought out GASB at the end of 2010. I would be very careful in dealing with them. When you shake a mangers hand make sure you get back 5 fingers. Many of them are former Bankers management. When agents at a branch I worked at signed up with them the manager gave us a 2 page application to fill out. In the fine print on page 2 it stated that we had received and read the agent contract. Only the manager never gave it to us then or ever unless we formally requested it. We were also never told up front of all of the nasty details in that contract. 1. You are captive to them and if you leave they own your book of business not you. 2. Where you can be vested day one with these carriers via FMO's, IMO,s MGA's ASB has a 2 year vesting requirement. 3. Even after you are vested you are only vested for the number of months you worked there. The carrier would have paid your renewals for much longer but they can keep your money ( a license to steal form you).
4. they have a minimum production requirement - so if you take time off or go in another direction for a while they can terminate you and again keep your clients and $$$ 5. all they give you is a cubicle, telephone and computer and fax acess - 1099 no health ins, paid time off, 401K, free leads, car allowance etc- and for what they do give you the commissions are MUCH lower than you can get elsewhere.6. If you do leave them they may not release you form the carriers you signed up with them for meaning you cannot sign up with them again for 6-12 months.
Stay the HELL AWAY! They will try to ruin you, including getting the involvement of the DOI. Stay away from any company that Billy Hill is involved with. American Senior Benefits has 2 divisions, captive and GA. comp is good on the GA side. They have you upload all client data when you sell a product. ?????????????????
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