Lampe Company NAA

Discussion in 'Ask The Agents' started by wendysman8888, Oct 14, 2010.

  1. wendysman8888
    Offline

    wendysman8888 New Member

    Posts:
    3
    Likes Received:
    0
    State:
    Kentucky
    I was just wondering what you all knew about this company? I saw one forum saying that it was a scam and did not want to invest my time and money into this if it was a scam. Thank you
     
  2. CHUMPS FROM OXFORD
    Offline

    CHUMPS FROM OXFORD Well-Known Member

    Posts:
    10,241
    Likes Received:
    35
    State:
    Ohio
    There are lot of stories about the around 2008. I couldn't find anything recent. Certainly a lot of people that have a lot to say about them.
     
  3. thall
    Offline

    thall Well-Known Member

    Posts:
    402
    Likes Received:
    0
    State:
    Georgia
    Wendysman8888, would not call it a scam, but, they paint a very pretty picture. At one time insurance sales was about placing policies, now everybody is a recruiter, nobody sells insurance anymore. Everybody is a national sales manager with naa, they come out of the woodwork. t hall
     
  4. mmike160
    Offline

    mmike160 Well-Known Member

    Posts:
    300
    Likes Received:
    0
    State:
    Pennsylvania
    3 years ago, I stumbled onto the forum and asked the same questions. Numerous seasoned agents, were kind enough to explain why NAA didn't make sense.

    They will likely have you pushing overpriced non-med life insurance policies and pay you a third of the commission you could receive otherwise. While buying their overpriced and overused direct mail leads. Then if you expect to increase your commission level, expect to recruit, recruit and then recruit more.

    When the focus of recruiting becomes more important than the product you’re selling, that sound like a pyramid scheme to me.

    The advice I was given was the learn the business by finding a local agent to teach you as a sub-agent. Then, go independent. I listened to this advice and now, have a modestly successful practice.
     
  5. gmhopks
    Offline

    gmhopks Well-Known Member

    Posts:
    99
    Likes Received:
    0
    State:
    Kansas
    Mike, I am trying to make the decision to enter the insurance industry as captive or independent. I would prefer to be independent, but I do not have a background in insurance sales. I am recently licensed in L&H and am completing the MA certification thru AHIP. I realize I need some "basic training" in the industry if I have half a chance in hell to make it as an agent let alone an independent agent.

    My question is - what do you mean when you say sub-agent? Do you mean become a captive agent in a local office for one of the big carriers, or something else? As you can tell, I am definitely a newbie. Thanks for any info you can provide.
     
  6. mmike160
    Offline

    mmike160 Well-Known Member

    Posts:
    300
    Likes Received:
    0
    State:
    Pennsylvania
    As a sub-agent, you're still have the ability to be independent. Find an experienced local agent to mentor you, maybe they'll give you some leads and/or desk space in their office. The mentoring Agent in return could structure an agreement with a GA to earn some sort of override on your business.

    Or you could go captive, but I always preferred to have access to many carriers, instead of one. Regardless, of how you enter the business, don't expect it to be easy. The first 6 months, I was eating cup-o-noddles, while I was building my book of business.

    I also never took an advance commission, personally I didn't like the risk of being on the hook for a charge back. Commission advances are pretty common though, to help new agents get some money rolling in.
     
  7. ksigmtsu
    Offline

    ksigmtsu Well-Known Member

    Posts:
    2,025
    Likes Received:
    0
    State:
    Tennessee
    You can make it starting out purely independent if you can give good phone and have halfway decent starting out money.

    Just don't expect to be making a fortune inside 6 months. Took me almost a year to really start doing well.

    I was originally recruited by EMG, an NAA lookalike. I lost a total of 1000 dollars on leads and produced no sales. Since I stopped doing that and went into medicare/health, still selling some life, I make on average 5 deals a week.

    Some of it was me learning, some was lead quality. It also gets a LOT easier to sell once you have a book of around 100 clients. You start getting referral business that comes in for free.
     
  8. wendysman8888
    Offline

    wendysman8888 New Member

    Posts:
    3
    Likes Received:
    0
    State:
    Kentucky
    I am trying to get my start. I would love to get into insurance sales. What is the best advice you could give me? I am a resident of Oklahoma and I am just graduating college.
     
  9. ksigmtsu
    Offline

    ksigmtsu Well-Known Member

    Posts:
    2,025
    Likes Received:
    0
    State:
    Tennessee
    Pick a product line you like, learn one thing really well, like medicare, and after you learn what the best product in your state is for that specific thing for each underwriting issue, sell that. While you're selling that, learn more, until you have a diverse product offering that you understand and would buy yourself.
     
  10. wendysman8888
    Offline

    wendysman8888 New Member

    Posts:
    3
    Likes Received:
    0
    State:
    Kentucky
    But should I apply at like a State Farm or Allstate or should I just get my license study up on it really well and then go and try and be independent? I am in the dark and would like any advice you wish to give!
     

Share This Page