If not the NAA - who is a decent Life products IMO?

Jul 7, 2008

  1. BiggitySwat
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    BiggitySwat Super Genius

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    Hey guys and gals,

    First time poster to this forum, long time lurker. I've read all of the info on the NAA and such, including all of the bad experiences. My question is, if not the NAA, can anyone name a better insurance marketing company that will allow me to purchase quality leads? (internet, phone, mail, etc).

    I've already looked at a few local companies to send out my own custom mailers.....however, they're pretty expensive, and in some cases look to be more expensive than the $20 NAA "A" leads.

    Like alot of you, my main problem isn't with talking with clients in the home or office - it's getting my foot in the door in the first place and booking appointments.

    Also, if down the road I decide to leave the NAA for another insurance marketing company, does anyone know if I'll still be able to write with Old Mutual and Presidential Life (two of my favorite carriers)? I really love some of OM's underwritten UL products and Presidential is always a good bet for my clients who need insurance but have health problems.

    I enjoy selling life insurance products.....but I just want to know how to be truly independent so I can be free to write with more carriers.

    Without a system like the NAA - how do Life insurance agents make residual income? Is the only way to become a General Agent and hire rookie agents at lower commission rates to work for you?

    Thanks!
     
  2. STIBROKER
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    STIBROKER Like My post and enter the DRAWING,,,, Moderator

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    sell health insurance then sell them life insurance.....
     
  3. ims01
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    ims01 Guru

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    There are plenty of IMO options available to you. A first step for you would be to decide how and what you want to sell, then find and IMO that can help you in that specific market.

    As for leads, a good one will cost you $20 and more. You need to evaluate a lead based upon the return on investment. A good IMO should have available or be able to refer you to trusted vendors that can provide a variety of lead types and prices. You will benefit by taking advantage of the experience and negotiating power of a larger entity.

    OM does not dual contract, so if you leave NAA you will have to wait six months to move your contract. But, there are plenty of options available to you that are just as good or better.

    I don't think it is the NAA system that allows you to earn a residual income, unless you are recruiting. When I sold mortgage products, a small percentage had persistency past 13 months. By selling a variety of good quality products you can create some residuals. But in most cases term policies do not offer a renewal commission. Some IMOs will help you build a heirarchy if that is the direction you want to go.
     
    ims01, Jul 8, 2008
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  4. BiggitySwat
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    BiggitySwat Super Genius

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    Thank you for the response. I really do like Old Mutual's UL products and Forrester's member benefits/charity work, and also don't have any particular issue with the NAA at this time. I think I'll stick with the NAA for now until I get more advanced in the game.

    Btw, I realized that you can make residual commissions off of certain EIUL/UL products, though they're like $1 per month off the typical contract. So, if you sell 5000 of them in a year, that's 5K residual income every month for the next 10 years I guess ;)
     
  5. Winter_123
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    Winter_123 Guru

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    You are drinking the NAA kool-aid. Only getting 55% on your term sales but worrying about residuals. Get out of there get a better contract for term products and join the real insurance business versus that pyramid scheme.

    Old Mutual and Forresters are junk products that support the mortgage insurance hit-and-run mentality.

    Anyway, you stated that you dont have any particular issues with NAA right now so you should just carry on. Six months will make a lot of difference -or six days, whichever comes first.

    No need to get into an NAA discussion. Search first and read the other 5000 posts first.

    Winter
     
  6. jdeasy
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    jdeasy Guru

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    You mean Forester's member benefits that don't kick in until the person has had the policy for 2 years? The family critical illness of $4,000 and the young family members benefit of $300/mo are great add ons for the less than 20% of members that keep the policy for 2 years.

    You are telling clients that it takes 2 years, right? The other thing is getting that Foresters policy placed. After completing the supplemental forms for having a hangnail or a bad cold when you were 10 years old and you get approved by Foresters, you could have gotten a fully underwritten policy somewhere else for less than half the price.

    That's why they won't keep it 2 years. Another agent is gonna replace that policy and save them money. Of course, they won't have those great "free" benefits, but, they will have money in their pockets and the life coverage they wanted in the first place.
     
    jdeasy, Jul 17, 2008
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  7. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    Yeah golly, 5,000 a year, that's only 417 placed a month, or a little over 96 a week...

    Sounds very do-able?
     
  8. BiggitySwat
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    BiggitySwat Super Genius

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    Just FYI, I have since joined another FMO and want to leave the NAA behind, but it's still a challenge because I have some paid-as-earned policies with them and they will seize my residual commissions and give them to my upline manager should I quit the FMO.
     
  9. psrayburn
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    psrayburn Expert

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    :swoon:WhaT? Term policies dont pay renewals? Most of mine do. for at least 10years anyway. Transamerica/Life Investors have super rates/Good Commissions 95%/100%. We even have a neat lead program. 20free mortgage leads a week for 4 weeks. All free

    No Im not a Primerica Agent, I just like the way their name looks.
     
  10. pcbinsurance
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    pcbinsurance Guru

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    I know it's Christmas, but do you really see the benefit in rehashing a thread that is 4 1/2 years old?
     
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