Interviewed with New York Life

Would it be beneficial or would they let me attend a sales meeting to get a feel for it? I think this would give me a descent understanding of the office and who is succesful and who is not.
 
Would it be beneficial or would they let me attend a sales meeting to get a feel for it? I think this would give me a descent understanding of the office and who is succesful and who is not.


I think it would be beneficial to attend a meeting and really see what goes on on a daily basis. I was offered the same thing but I'm not able to attend because of my current work schedule.

Another thing you might ask is to talk to a few agents in the office. They will usually give you a better idea of what they are going through and cut out some of the recruiting BS.
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DNK-

Make sure interview with MassMutual in Westlake Village as well.

Yeah I should probably give them a call. see what they have to offer. Do you have any personal experiences with MassMutual in Westlake?

Its a little bit of a longer commute for me but probably won't be too much in the office anyway so I guess it wouldn't matter.
 
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I am about to get contract approved after a few snags. I finnaly got a chance to read through the agents contract, and bascially it appears anyone I get to sign with them, upon either termination or resignation, ie starting my own business, NYL, had the right to keep me from selling insurance for 24 months, any changed in sold policies can result in 100% of commissions received having to be paid back. They site restraining orders and injunctions against me or any future employer. I have some good leads and I don't want to sell overpriced product to my natural market and then get fired for some reason and leave all these people committed and myself legally, financially exposed.

I am having serious second thoughts and seriously considering independent route. Everyone in the office seems like they are new and working the phones with little success. I feel I need a good independent solution. Looking at a IIAPA, Compulife and napa for E &O. I have fallen in love with this business, and I appreciate the training opportunity at NYL, but I feel like thye just going to bilk me for my contacts and cut me loose - and I will have no recourse based on contract.
 
I am about to get contract approved after a few snags. I finnaly got a chance to read through the agents contract, and bascially it appears anyone I get to sign with them, upon either termination or resignation, ie starting my own business, NYL, had the right to keep me from selling insurance for 24 months, any changed in sold policies can result in 100% of commissions received having to be paid back. They site restraining orders and injunctions against me or any future employer. I have some good leads and I don't want to sell overpriced product to my natural market and then get fired for some reason and leave all these people committed and myself legally, financially exposed.

I am having serious second thoughts and seriously considering independent route. Everyone in the office seems like they are new and working the phones with little success. I feel I need a good independent solution. Looking at a IIAPA, Compulife and napa for E &O. I have fallen in love with this business, and I appreciate the training opportunity at NYL, but I feel like thye just going to bilk me for my contacts and cut me loose - and I will have no recourse based on contract.

You might want to talk to Mass. Mass will let you keep the client if you leave. Technically the files do belong to them, but with client permission you can take a copy of the file with you.

I don't know about Northwestern or Guardian's policies, but I imagine they are similiar to NYL. But if everyone is new, that can be a danger sign.
 
You might want to talk to Mass. Mass will let you keep the client if you leave. Technically the files do belong to them, but with client permission you can take a copy of the file with you.

I don't know about Northwestern or Guardian's policies, but I imagine they are similiar to NYL. But if everyone is new, that can be a danger sign.

thank you...

When I brought up being independent in the interview process they really rammed me through the paperwork process. Seems a little fishy...the receptionist was helping one of the managing partners process my paperwork, ie sign documents, and she basically warned me. She was just short of saying, run for your life.

I've been in business for myself too long perhaps to fit in with this type of stringent organization. It is feasible to go independent and have fun with this business?
 
I've been in business for myself too long perhaps to fit in with this type of stringent organization. It is feasible to go independent and have fun with this business?

Many on here would say go independent from the start. Assuming you have the determination, ability and financial bankroll, you'll succeed either way.

The difference is the proper office can speed up the learning process and help you make more sooner. After all, 50% of something is better than 100% of nothing. That said, nothing will sink you faster than a bad office.
 
Many on here would say go independent from the start. Assuming you have the determination, ability and financial bankroll, you'll succeed either way.

The difference is the proper office can speed up the learning process and help you make more sooner. After all, 50% of something is better than 100% of nothing. That said, nothing will sink you faster than a bad office.

If you're peddling product and selling by price... then that's probably correct. You can make it if you have the determination, ability, etc.

The problem is that you've limited your potential. A good career agency can ENHANCE your potential. How? Joint work (which is really OJT), firm-paid designations and company sponsored training events. Some firms have linked themselves to a particular selling process and will offer specialized training on that process (ie. LEAP).

If you're selling product on your own from the start and you want to work with business owners... and you don't know the first thing about buy/sell agreements, key man, etc... you can probably contact your home office for help - but you really need to learn from someone who has "been there, done that" on a regular basis.
 
If you're peddling product and selling by price... then that's probably correct. You can make it if you have the determination, ability, etc.

The problem is that you've limited your potential. A good career agency can ENHANCE your potential. How? Joint work (which is really OJT), firm-paid designations and company sponsored training events. Some firms have linked themselves to a particular selling process and will offer specialized training on that process (ie. LEAP).

If you're selling product on your own from the start and you want to work with business owners... and you don't know the first thing about buy/sell agreements, key man, etc... you can probably contact your home office for help - but you really need to learn from someone who has "been there, done that" on a regular basis.

Thank you for further stating my point. You can learn it all on your own. Just expect to spend a lot of time and effort doing so, and being very frustrated. Or you can find a good agency and learn it all much faster and less frustration. There will be difficult times and frustration either way, the only question is how much of it can you stand.
 
Thank you for further stating my point. You can learn it all on your own. Just expect to spend a lot of time and effort doing so, and being very frustrated. Or you can find a good agency and learn it all much faster and less frustration. There will be difficult times and frustration either way, the only question is how much of it can you stand.

I am not sure how much I can learn from these people. They only know what home office wants them to know. There is no creativity, and with a limited product line, that equals less options for my clients. And if for whatever reason things don't work out, all my clients are no longer mine and I might get sued for commissions if there is any laspe, conversion or reduction in policies. To add insult to injury, the contract even states that I have to pay for their lawyers who sue me, too.

I feel they are banking on people giving up. Those clauses will have little effect on people who just give up. Just like insurance business as a whole, they count on people lapsing their term policies, it's free money. However, I have a real interest, an honest desire and a strategy to get things going.

The benefit of a big name is handy, the mutual aspect is a great selling point, but for me, private insurance companies scare me a little. Going into the era where baby-boomers will be getting sick and dying there are going to be significant outflows of reserves. Newer clients of these old established insurance companies will be bearing a greater load than ever before, and before I would do business with a old mutual type company, in these low interest environments, I would like some transparency on the books. I think there is an argument for representing leaner, newer companies and it may actually be better for some clients.

Finally, I have to say I am having a hard time deciding what to do. I am concerned there are too many barriers to entry on the independent route and all these independent "opportunities" are just scams themselves. What is the real deal?? I have a bunch of phone calls to make this AM to find out.

thanks for the comments gentlemen
 
Why do people call it an "interview" with these career recruitment shops? You are the one being recruited not interviewed. Mutual companies are the only life insurance companies, yea right.
 
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