Just left American Income Life

Aug 13, 2019

  1. Aleqsander

    Aleqsander New Member

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    So last week I left ail this was a really hard decision for me but I absolutely could not stand my SGA, I loved my team, I love the people i worked with but at the end of the day I was working 70 hours a week making $1,000 on average. Now there's some SGA is out there that will help you grow and develop but the one I was working for didn't really even care about me. The biggest reason why I was staying with ail is because at the end when I was done I was able to get lifetime renewals after 10 years. That's not for Ten Years After I leave, that's 100% renewals for the rest of my life after I work there at ail for 10 years. I was already working there for two and a half years and decided that going independent was better. But I was under the impression that you keep your renewals for the rest of your life you're 100% vested when you leave. Now I just found out that I'm mistaken, that you only keep it for Ten Years 10 years after you write someone up in FE I'm feeling a little bit of regret because this game is a little bit more tough, we had a niche and it was easy for me because we had a system. The problem though it's just I didn't feel like I was going to grow or develop into what I wanted. So my question is did I make a right move? I know independent is a lot more money and I'm technically more "independent." The problem is I just gave up lifetime renewals for more flexibility I'm just wondering is there products out there though I can be able to sell that would give me lifetime renewals?
  2. DHK

    DHK Guru

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    AIL probably had small premiums, small commissions, and even smaller renewals.

    I wouldn't worry about it. Independent contracts typically start out at 80%+ with renewals on a larger premium - depending on what you're selling.

    In essence, you're worrying about the pennies per year you're leaving behind and not the dollars you stand to gain for making the move.
    DHK, Aug 13, 2019
  3. Newby

    Newby Guru

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    You were never going to get 100% renewals for life. Usually 1 or 2% for life. The highest lifetime renewals I've ever seen were 15% lifetime and that is very rare. But the pitch that you can retire off of those even at 15% if you sold $250,000 + per year is a BS pitch. Do you know why? Because the people you are mainly selling are older than you. And they will die before you do. So if you are counting on that for your retirement income it will all go poof on you. Don't believe BS.

    Use annuities for your retirement. Or invest. Don't think that renewals (especially in the senior market) or building downlines of agents is EVER going to fund your retirement. That's sucker bait.

    Just sell a lot of insurance at high commission levels. Live a great lifestyle and spend less than you make. That's how you retire right.
    Getting Started with FE Sales
    Newby, Aug 13, 2019