Liberty National

Feb 4, 2008

  1. Dave020
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    Dave020 Super Moderator Moderator

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    Gwen posted on another thread some months back that she was calling it quits or at least seriously considering it. Not sure if she did or not.

    If you can, take your commissions as-earned. Also, be aware that a lot of life carriers use the 13-month rule for commissions (which I always hated). If the policy lapses or is cancelled before the 13th month's premium is paid, full charge-back of the entire commission. Not all carriers do this but it is something you need to be aware of.

    BTW, NML (mother mutual) does this!
     
    Dave020, Dec 13, 2009
    #21
  2. dabatman
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    dabatman Expert

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    Thanks again Dave... very good stuff you're giving out.
     
  3. bassplayer
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    bassplayer Expert

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    After one phone interview with a local Liberty National recruiter I had an uneasy feeling about it. I consulted ripoffreport.com and my feelings were confirmed. LOTS of complaints, not from customers, but from former agents.

    I've just accepted a job with AGLA and he's hired 2 agents from the local Liberty National office in the past 6 months and they both said they received more training in 2 days at AGLA than in their several months at Liberty National. I know it changes depending on your locale and manager though.
     
  4. dabatman
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    dabatman Expert

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    ... true in deed. First day of training was today. Honestly don't think I'm going to pursue a start here. Seems good for the recent college grad looking to break into the business. I guess I'm looking for a little more professionalism.
     
  5. 2112Greg
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    2112Greg Guru

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    Good call. They prey on the inexperienced and new-to-the-business types. It's a constant revolving door. You go to that same office 3-4 months from now and 95% of the agents who are there now will be gone. Maybe more. In fact, I've seen more. A 100% cycling of agents is commonplace with this outfit, even within a few months. Seen that, too.

    Glad you only wasted one day. Others have wasted far more than that...
     
  6. dabatman
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    dabatman Expert

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    ... yes, turnover high. Manager wasted no time in letting us know that up front. There were 3 of us starting today... Me who's already licensed and 2 others that were in the process of getting the temporary licenses. I found out a little more about how they make they're money. Recruiting is a big part of that. The branch that I was at concentrates on the work place. Their group life policy is the big seller. Cold calls to a lot of the local business and using the individual policies to stay afloat.
     
  7. bsdavis
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    bsdavis New Member

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    I spent 2+ years with the torchmark group. UNited American mostly, but did some LibNat.

    They have their highs and lows, I won't bad mouth them because working for them gave me the ground work for where I am now, and they paid the bills when the bills needed paid. Just make sure you read all the fine print.

    But if you are wanting some insights and suggestions feel free to drop me a line.

    Brian
    [email protected]
     
    bsdavis, Dec 16, 2009
    #27
  8. pdoyle
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    pdoyle Super Genius

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    They do have an quality training program
     
    pdoyle, Dec 17, 2009
    #28
  9. captain94
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    captain94 Guru

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    You get upside down because they pay you on Submission. The policies are fully underwritten. so when the premium come back diffrent then what you quoted and collected at the time of submission, and it will, then they charge you back out of your upfront commissions and when the client keeps the policy,if they keep the policy, the commissions are paid back to your commission account, not your weekly pay..the commission account takes 10 months to pay out and often you quit.
    Then the will stop crediting your commission account with premiums paid but deduct charge backs.. so in the end you always owe them money.
     
  10. oicu812nbama
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    oicu812nbama Guest

    you can reason that everyone has a different experience. i was a top producer and won the trips, etc. Then got screwed and the doi said that I shouldn't have signed that contract. you dont know sh1t from cheyenne when you start out and see that contract. run as fast as you can from liberty national. anywhere else is a better start. Even Mutual Savings will train you more than Liberty.
     
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