In Need of a Fresh Start

[BNTRS]

Boston General Office...I'm guessing you are in Mass. If your interested, I can give you a few ins and outs on the people you'd work with at Ohio National and Guardian. I can also give you a referral, for Guardian this would matter, for Ohio National not so much, but hey I can at least make the guy aware of you.

There are a few other wholesalers I think you should speak to if you are going to continue doing business the way you do. Let me know if you are interested.

 

[Josh]

I agree with DHK. NYL is at one end of the food chain and AIL is at the other. Either go INDY or talk to MM or Guardian.

As a total rookie agent I made $7k using their leads and pitch my first month. Call it what you like, but they have a system that works.
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I had a funny feeling about American Income Life. In comparison to NYL, they're a mickey mouse shop. I don't think you'd be happy with their leads to sell supplemental life coverage to union members.

What do you mean by "mickey mouse shop"?

 

[xrac]

As a total rookie agent I made $7k using their leads and pitch my first month. Call it what you like, but they have a system that works.....?

The small face amount life policies, accident policies, and cancer policies that AIL sells doesn't fell like real insurance compared to the offerings of NYL or a MM. However, not to say that you can't make money with AIL but the AIL office I worked out of was managed by a pack of thieves.

 

[DHK]

It depends on what you're comparing.

I was moving from a credit union investment firm to insurance. I wanted a B/D and a comprehensive environment. I wanted to do more business succession planning and other "top end" things.

When I was checking out American Income Life, I had just left American Express Financial Advisors (now Ameriprise). I wanted to be a "planner"... not a policy peddler.

There's NOTHING wrong with being a peddler, but that isn't what I wanted for my future.

 

[Josh]

The small face amount life policies, accident policies, and cancer policies that AIL sells doesn't fell like real insurance compared to the offerings of NYL or a MM. However, not to say that you can't make money with AIL but the AIL office I worked out of was managed by a pack of thieves.

Agreed, but the target clientele of AIL is most likely never going to sit down with a NYL or MM agent.

That all being said, each office is different. I was fortunate enough to work in an area where the office was filled with extremely aggressive agents and managers which created an environment that was extremely conducive for learning and being successful.
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It depends on what you're comparing.

I was moving from a credit union investment firm to insurance. I wanted a B/D and a comprehensive environment. I wanted to do more business succession planning and other "top end" things.

When I was checking out American Income Life, I had just left American Express Financial Advisors (now Ameriprise). I wanted to be a "planner"... not a policy peddler.

You're comparing apples to turnips. AIL is not a top shelf financial firm and that is not their market. I think it's a bit snooty for you to refer to them as "peddler"s or "mickey mouse". They're not NYL or MM, they're not an investment firm, they're an insurance company that has found a way of successfully helping insurance agents get in front of folks who for the most part wouldn't have life insurance and provide them with that service. The products make infinitely more sense then nothing and for the most part that is what they're competing against, so why be so derogatory?

 

[DHK]

Why would you recommend AIL to someone who was a decent producer at a "top shelf financial firm"?

You were recommending a turnip to someone who was used to apples... and probably looking for an apple.

Why derogatory? Because AIL is not in the same league as NYL. I said I had a funny feeling about them. Also, with other people's experiences that I've read about... it just didn't add up for what I wanted.

Yes, you're peddling a policy. You're not going to go into a full fact-finder with each one of those leads. And yes, they are Mickey Mouse compared to NYL, Guardian, Mass, etc.

Do they fulfill a purpose? Yes, they do.

Would I recommend them to someone whose coming from NYL? No.

Would I recommend them to someone looking for their first firm? Maybe. It depends on what market they wanted to serve.

You appeared to have experienced a better office than the one I interviewed at.
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This was also why I asked QUESTIONS in my first post in the thread.

 

[Josh]

Why would you recommend AIL to someone who was a decent producer at a "top shelf financial firm"?

Easy. If he doesn't have an established clientele and wants to start again with a lead source, then they might very well be a good place to start. A solid producer can do really well at AIL.

You were recommending a turnip to someone who was used to apples... and probably looking for an apple.

Back to the point above, I don't see many other shops that have systems in place to help an agent go from zero to writing $3k/week in premium in less than two weeks. Sure, if he wants to get back in the saddle prospecting from scratch again then by all means he should go for it, but if he likes the story AIL is telling him he should at least know that they can be legit. Go back and read what he was asking. He wasn't asking which one to go with, he was asking if they're legit and truth be told, AIL is legit.

Why derogatory? Because AIL is not in the same league as NYL. I said I had a funny feeling about them. Also, with other people's experiences that I've read about... it just didn't add up for what I wanted.

NYL is a joke against AIL. If memory serves NYL doesn't give out leads. Considering how important it is for a new agent to get in front of prospects, that seems like a major weakness.

Truthfully I think they both have their place, but I wouldn't say that NYL is in a different league. Maybe they have a better portfolio, maybe they have better brand recognition, maybe their agents even understand the products better, but there are plenty of things that AIL has on NYL that you apparently don't think matter, like leads.

Yes, you're peddling a policy. You're not going to go into a full fact-finder with each one of those leads. And yes, they are Mickey Mouse compared to NYL, Guardian, Mass, etc.

If you're calling them "mickey mouse" because you're not doing a full fact finder, then sure, but I think that's a ridiculously narrow standard.

You appeared to have experienced a better office than the one I interviewed at.

Part of the problem with the rep AIL has is that they will "hire" just about anyone, whether they are a good fit for it or not. When folks fail they blame AIL, not themselves. Is AIL too reckless with their recruiting? Probably, but the fact of the matter is they have a lead system, a pitch, and a product that all work together just fine. A large part of the reason why I was successful at AIL was because I was dumb enough to show up and do what they told me. I never would have had that success at NYL.

 

[DHK]

How many MDRT producers at AIL?
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Court of the Table?

Top of the Table?

NYL teaches their agents how to prospect for their own leads. They do this by hosting LUTCF courses in-house.
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And my recommendation was assuming that he knows exactly how to prospect. No prospecting = doesn't matter WHERE you go.

 

[Josh]

How many MDRT producers at AIL?

I'm sure MDRT matters to plenty of folks, but for the most part it looks like a mutual appreciation society to me. I don't mean to disrespect anyone who's qualified for it, but it's not something I've seen make a huge difference. I know plenty of agents that qualify for it, but don't bother to join because at the end of the day it doesn't put more money in their pocket. To better answer your question, plenty of AIL producers qualify for it.

It's funny you should bring MDRT up. Once upon a time I got a call from an NYL guy that wanted me to come in for an interview. I flustered him, I asked him point blank what the advantage to working for NYL is over getting indy contracts and just going out on my own. He brought up MDRT and I still have the same question, what does MDRT matter? Will the carriers bump up my contract level if I have MDRT? I don't think so. Does it look good on paper? Sure, but that seems like a silly reason to do it.

And my recommendation was assuming that he knows exactly how to prospect. No prospecting = doesn't matter WHERE you go.

Ah ha! Now we have it, you made an assumption. I'm also obligated to completely disagree with you. If someone doesn't know how to prospect then can go to AIL or EFES or a bunch of other shops where they can get leads and hand holding and just go out and sell.

Again, let's go back to the OP's question. The answer to the question of whether or not AIL is legit is yes, they are legit and they are what they are. If he no longer has the natural market and/or prospecting tools/connections/etc he had before, AIL might be the right fit. If he can still generate his own business and wants to go through the hassle of doing that, then he should get hooked up with a GA or an FMO and just go make it happen on his own.

 

[DHK]

I agree with you regarding MDRT. However, if a company is looking to recruit agents, it's a great selling point. But I doubt there's even ONE agent at AIL that has ever qualifed for the Top of the Table. (That's 6x the standard MDRT level production.) NYL has ruled the MDRT leader board for about 50 years. That says something about them.