Liberty National or American General?

[magagent]

Jarrod, what part of Alabama are you in? If just you and your friend are the only Lib Nat reps in the area you could be walking into a "goldmine" I dont know. I know people that are running branches after only being in the business for 18months, and that is in Mississippi lol.

Liberty National, does actually have some fairly competitive products, I think most people have problems with some of the deceptive recruiting tactics. I do know that not every manager will tell every single recruit that if you sign with Lib Nat, do my two day trainning class, you will be making 2K per week starting next week. LIke I previously mentioned it all depends on the branch, however it does sound like you will not have that problem. Liberty National, does a very "lucrative" bonus plan, if you hit certain numbers, that are not that hard to hit, you get up to a 40% bonus.

 

[jarrodn82]

I am in the northern part of Alabama about an hour about a hour from Huntsville. There is actually a branch about 25 miles away but it seems like this area is very open. He is actually working from home but he was hired by an agent who works about 100 miles away. My friend wants to start his own branch here and I would be the first one working under him I guess.

As far as the bonus goes its like this... 10% first week you hit....20% second week and so on until you get to 40%. You stay at 40% until you miss it one week then you go back down to 10% and have to work your way back up. My friend has worked for them for 4 months and has missed bonus only once.

I do like the fact that you get paid when you submit a policy instead of having to wait 2-3 weeks for it to get issued like American General. The only thing that I don't like about LNL is at AG you get a 17 week salary period at Liberty you do not. My friend has been in the insurance business about 5 years and says he will show me the ropes and he will make sure I make money starting out.

The guy I talked to from Liberty didn't say anything about a specific dollar amount I could expect. He pretty much said it all depends on how hard I work.

The manager at AG has been very unprofessional, he keeps on saying that he's going to call me to come in for training and I never hear from him....maybe that's a sign....

 

[HomeService]

You can get burned on the "paid on submission " stuff. Seriously, ask your friend to be 100% honest about underwriting and issue rates and such. This is good to ask with all companies, not just LNL.

 

[element3453]

I worked for the TorchMark Corp for almost 2 years. I would tell you that is probably not the best route for you to take, especially if you have no support...basically LNL are low benefit amounts and you pay way to much...ie. LNL 20k in life will cost $25>>>AIG $25 will get you 150k, common! you are selling LNL to people who have no idea to whats going on. Then you have people like me who convert that policy...all that money you made gets charged back.

if you can deceive people TorchMark is most likely the place to be. They are also merging with United American in Dec. Soooo good luck!!! I made a lot of money when I figured out the job was based on recruiting!!!! If you cant you will be broke, trust me I was there for 6 months. Message me if you have questions

 

[joshril]

I worked for the TorchMark Corp for almost 2 years. I would tell you that is probably not the best route for you to take, especially if you have no support...basically LNL are low benefit amounts and you pay way to much...ie. LNL 20k in life will cost $25>>>AIG $25 will get you 150k, common! you are selling LNL to people who have no idea to whats going on. Then you have people like me who convert that policy...all that money you made gets charged back.

if you can deceive people TorchMark is most likely the place to be. They are also merging with United American in Dec. Soooo good luck!!! I made a lot of money when I figured out the job was based on recruiting!!!! If you cant you will be broke, trust me I was there for 6 months. Message me if you have questions

I don't have a bias either way, but this guy is trying to compare apples to apples and AIG and LNL are apples to oranges. Totally different products to a totally different demographic... There are also underwriting differences in the products.

The bottom line is neither of these companies is going to make you rich or likely to be a company you stay at any length of time. Choose the company with the best support, management, and training. Learn the ropes, and then move on to bigger and better things when you are ready...

 

[jarrodn82]

What is usually the best option long term? Who would you suggest?

 

[joshril]

I would really base the decision on your direct manager and the level of support you are being offered (leads, marketing, training, etc.)

 

[HomeService]

I can almost guarantee the best long term would be AGLA. Here is how I would determine it: Go to the AGLA office, and take note of the agents with ten and twenty years there, at the same office. Even 5 years, same office. Then go to LNL and take note of the agents who have been there for a few months, and the managers with 2-3 years max -time there.
Now, here in TX, they have a fairly new LNL office, and in Alabama, they have been there a while obviously, so you are going to find way more long term guys in Alabama. But, just ask around and see how many newbies -are there.

Statistically, any person { that means you, me, anybody reading this} has a greater chance of leaving LNL after a few weeks. They just have tons of turnover. In a numbers game, this is a statistical loser for LNL, unfortunately. So, AGLA is better long term. Now, we are just comparing two companies, here. And comparing my state with your state, which may not be a good comparison. There are many other insurance companies. And many more states. But put the numbers up there, and take a look at it realistically, and the numbers don't lie. A better comparison may be to take nationwide numbers for both companies, but it's easier to ask around at a local office.

Oh, and there's another variable here, and it is management. joshril is correct. That throws another variable in the mix.

 

[mswebb06]

jarrodn82, do you wanna be in one place long term, or do you prefer to learn the ropes for a couple of months and then open up your own shop?

Which ever one you prefer to do should tell you who to go with.

 

[Mr supplemental]

I sold for Liberty National for a while. Their lead program consisted of knocking on doors with your right hand, and when that hand got tired, switching to the other. They dropped me off in poor neighborhoods and said have at it. One time my manager went along to "train" me. I really needed some sales to stay in the game, so I said, "Look, let's put the training shtick aside for now and concentrate on making some sales today." But instead, his approach was to sit silently and see if I could locate the addresses I had appointments to see unassisted like some insurance Easter egg hunt.