ssobel3038
Expert
- 25
I sell MP thru MOO there rates and underwriting are very competitive. I am not captive and they do direct deposit comm.
It sounds like this only applies when an individual is working through the MOO career side. I know individiuals that work out of the local district office, and they only get paid twice a month and no dd.
However they do have several sources of leads at their disposal through the MOO career side.
However they do have several sources of leads at their disposal through the MOO career side.
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It used to be that the career side was very strictly captive, and that was when they had all the products to offer the clients. { I.E. they sold major med, life, disability, medicare supp, long term care, hospital indemnity, graded life, basic hospital surgical, supplemental health, accident plans. They even sold P&C in some states}
So, there really was no need to broker. Then, when they ditched the major med, they allowed the agent to broker only major med stuff, I think they had a marketing arrangement with John Alden in most states. This was like 2002 or so. At least here in TX, this is how it was going. Then, lately, I think the brokering of products on the career side has become a little more common, but I have no clue as to the actual "rules". It could be that each manager has the option in each city, to lay down the law on brokering. I don't know how the rules go now, but I know for sure that when they ditched the major med, things changed. In most states.
So, there really was no need to broker. Then, when they ditched the major med, they allowed the agent to broker only major med stuff, I think they had a marketing arrangement with John Alden in most states. This was like 2002 or so. At least here in TX, this is how it was going. Then, lately, I think the brokering of products on the career side has become a little more common, but I have no clue as to the actual "rules". It could be that each manager has the option in each city, to lay down the law on brokering. I don't know how the rules go now, but I know for sure that when they ditched the major med, things changed. In most states.
I know at our office and I have this in writing that an agent can sell Assurant, Aetna, Humana, GR, pratically all of the big hitters except BCBS. An agent is not forced to sell health only if they so chose.
captiveagent
Expert
- 42
Thanks
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- #36
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I would think so... if management/salary is what you want.
I'm in their system as what they call a "career agent" as opposed to a broker... but there is not that much difference. You can have a broker contract and you will make more commish if you only do a few deals... but you get little or no support. Otherwise you can be a "career agent" and get the training, support, a cube-office (I never use it... prefer to work at home), phones, etc... and you will make more money IF you do a volume. (There is no free lunch here.)
The MoO "career" agent contract is the most benign I've ever seen... like six pages without the word "non-compete" in it. Of course they own the book on their products until vesting but I can sell other life, annuity, LTC, etc. products through any GA I want if the MoO product does not meet the client's needs... or when (in most cases) MoO won't UW or even has a product (like a $15K/mo DI buy-out on a 65 year old... their max is $10/month).
It ALL depends on the local manager and how "good" he or she is and how much time they will give you in training etc. My district office has training sessions twice a week on both product and sales. Last night we had an "orphan account" phone-a-thon and pizza afterward. I only got one appointment but it was a fun evening and the class they gave earlier on phone techniques was a good... I learned a few tricks for NOT sounding like a typical telemarketer.
The only negative for MoO is that rate-wise some of their products are not very competitive. However, I find that many (even most) clients don't care that much as they want the "good feeling" of the MoO (Wild Kingdom!) name and they don't want the cheapest TV or car or computer... and they understand the "value" (i.e. financial stability... at least perceived) that a well-advertised, old line firm like MassMutual, NYL, Met, MoO brings to the table... it is called "sleeping well at night."
Sure, there are many, many, MANY fine companies out there... but they would be a bear to sell here in my area because no one has heard of them... and with banks and other institutions all reporting "problems" clients seem to want to stick to the "tried and true." In my area "Dearborn Life" or "Mutual of Illinois" is not going to happen! Even West Coast Life or Banner is a hard(er) sell. "If they are so good, how come I never heard of them!" is what I hear from time to time.
Face it. Life insurance is "sold" not "bought" (like medical coverage.) It is easier to sell something well-known than something that isn't. That does not make it "right" or "better" but that's the reality of the marketplace and I learned long ago to "not fight the tape." (That expression dates me because I remember ticker-tape machines!)
Hope this helps. I know some folks will "blast" me for above but that's my story and I'm sticking to it. I long ago stopped caring what people on this board think. They can run their biz and I'll run mine and we'll all live in peace and harmony ("I have a dream!") The know-it-alls on this board call me a "Jackass"! That's OK. I'm not being sued, I'm not on anyone's Vector list, and I "hee-haw" all the way to the bank.
As always, YMMV.
Jackass Al
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- #38
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(Note: it is their, not there.)
It depends on the age of the client, their position on the life clock (MoO loves to use the life-clock in their presentations), their financial situation and what their objectives, hopes, needs, dreams, and prospects are.
No one buys an insurance policy. They buy the agent. If that was not true we'd all be out of biz and people would simply obtain coverage via the web or mail order.
So why can't I answer your question? I don't know the the correct answer. At MoO they teach agents not to sell what it is... but what it does and every product does different things for different clients. Maybe that will help explain it.
The Jackass
Insurancesolutions123 Agency
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I had an interview at a local MOO office today and it sounds great. I know the name alone will be a benefit to help with sales. Just wondering if anyone has any input about them or anyone who is currently selling can give me their take on them. I have a phone in interview with Health Choice One tomorrow afternoon to discuss getting set-up with them. I just want to make sure I make the right decision on who to go with. I am currently licensed in IN & MI for life & health.
Thanks!
Thanks!
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