Liberty National

[nstargazer]

The Torchmark companies seem to hire continuously. In this market it is American Income and sometime Farmers and Ranchers.

Same here..since we were only talking about Liberty National, I didn't think to mention them. In a way it's like real estate. Many agencies hire anyone with a license & a pulse and figure a small percentage will produce. Still, any opportunity can turn into a successful career for the right person.

My question is this - what's the advantage of being captive if you don't get health insurance and other important benefits? Do they offer employee coverage? I really don't have a lot of experience, since I went back to retail after a few months, but when I first got my license in 2002, I signed up with a United American branch office in Pompano Beach where they were primarily marketing medicare supplements at that time. I was charged over $200 to contract. The branch manager said the charge covered the appointment fee, one day of training, leads, and what he referred to as "materials." I realized later it was a rip-off, since I never got a single lead, but here's where it gets even better! Several months ago I was told during a background check "you have a vector." I asked "What's a vector?" Turns out that branch manager pocketed the $60 appointment fee. This happened in 2002 and it was on my record as a bad debt. For $60 bucks? I still find that hard to believe.

 

[haugman]

With liberty national they would not pay you what they were supposed to for your commission and stuff so i am not surprised to hear bad stories about that company at all.

 

[Mark]

I would love to do a survey on what is the longest anyone has ever stayed with Liberty National and what is the most any agent ever made from them.

 

[haugman]

four months for me and about 10 grand. But i should have been 15
- - - - - - - - - - - - - - - - - -
according to the contract

 

[magooandme]

My question is this - what's the advantage of being captive if you don't get health insurance and other important benefits? Do they offer employee coverage?

I can tell you this much: While I was captive there, I had decent BCBS group health coverage, a 401K employer matching plan, and after 10 years (I think),you were vested in their pension plan as well. You could also qualify production wise, which I did 3 times for their annual Torchmark event which was a 3-5 day stay at a fabulous destination all expenses paid.

 

[oicu812nbama]

If you quit liberty with a positive commission account you never get it. My dumb*** went back for another round. This time when I quit as a staff manager, they didn't terminate my contract and didn't deliver the policies on my whole staff. Liberty gives you a charge back if you don't deliver policies. Hence, they sent a vector saying that I owe them $10k. This is keeping me from getting appointed with good companies. There are thousands of former agents that they have done the same way.
There are other serious things going on there. I am currently getting legal advice.

 

[haugman]

Look on sites like ripoffreport.com and see what people have to say about that company!

 

[dabatman]

Very informative information. I'm supposed to be starting with LibNat tomorrow. I understand that experiences are going to be different from person to person. As long as there's the opportunity to make money and help people that's enough for me. I am curious however as to what an agent does to actually owe LibNat money when they walk away from the company. I do not want to be in that position so any advice here will be greatly appreciated.

BTW... (Yeahhhhhhhh... I've reached 20 posts. Now I can answer a PM that was sent to me earlier today)

 

[2112Greg]

If you don't want to owe Torchmark any money when you leave (and you will, trust me, probably sooner than you think), then don't take advances. But the way that outfit operates, they'd probably STILL find a way that you owed them money.

My opinion is that this whole thing is criminal operation and it amazes me that DOI's all around the country haven't stepped in in a big way and shut down these offices. It's a shame, really...they take advantage of agents who don't really know anything better/different, chew them up, spit them out and move on to the next one.

I used to know a guy who had a 60 point contract on UA products and still wouldn't sell it. Sixty points probably isn't uncommon, though. Especially when you consider that the plans have crappy (that's being nice) coverage then claim after claim is denied.

Nice...

 

[dabatman]

OK... that's what I've been waiting on. Note to self... don't take any advances.

I've read the good and the bad but it doesn't sound like their doing anything different from other outfits. Is LibNat the only company to dish out advances? Have agents here left other companies out there owing money because they took advances?? Not trying to be smart but just trying to see what makes this company any different from other places other than the products they sale.

BTW... is Gwen, the author of this post still around? I'd like to hear from of the folks that are either currently working with LibNat or have worked for them in the past.