Need Advise Which Company To Go With

[thenextlevel]

Never sold insurance before. I have been reading this forum for several weeks soaking up all the good information I can.

I am trying to decide between two companies to work for. Farmers and New York Life. I understand that NYL is Life and Securities only.

I just don't know which way to go. I feel I can make more money at New York Life. But it is hard to ignore the subsidy that Farmer's offers their new agents. I feel that bot companies would offer good training, but it does sound like NYL's training would be superior to Farmer's.

Also the manager at NYL told me 2 appointments a day = 2 sales a week. If I did that he could promise me a six figure first year income. How much truth is in that statement?

All Advice is appreciated.

 

[VolAgent]

Also the manager at NYL told me 2 appointments a day = 2 sales a week. If I did that he could promise me a six figure first year income. How much truth is in that statement?

All Advice is appreciated.

It is dead on, there is just the rest he didn't tell you.

That those two appointments need to be qualified and be kept. Oh, and that you better have a marketing strategy to get those two qualified appointments a day. It sounds easy, but this is where most agents fail. They don't see enough qualified prospects.

If you like life and securities, but need some financial help, look into Mass Mutual, MetLife, Prudential, Guardian and maybe NWM. I know Mass and MetLife offer sudsidies to help you get started, the others may as well. Just make sure you are going to get the support you need to succeed.

 

[Franz Kafka]

One of my neighbors runs his own Farmers office. He's licensed to sell life, health, registered to sell stocks and mutual funds (serier 7, 63 etc). He just sells home and auto and nothing else. If I had to choose a captive company, I'd choose NYL because they truly focus on life insurance. Everyone's heard of NYL and everyone knows they sell life insurance - no need to explain to them what the hell it is that you do. JMO

 

[thenextlevel]

It is dead on, there is just the rest he didn't tell you.

That those two appointments need to be qualified and be kept. Oh, and that you better have a marketing strategy to get those two qualified appointments a day. It sounds easy, but this is where most agents fail. They don't see enough qualified prospects.

If you like life and securities, but need some financial help, look into Mass Mutual, MetLife, Prudential, Guardian and maybe NWM. I know Mass and MetLife offer sudsidies to help you get started, the others may as well. Just make sure you are going to get the support you need to succeed.

Thanks for the advice. I applied to Metlife and Mass Mutual just now.

 

[VolAgent]

Thanks for the advice. I applied to Metlife and Mass Mutual just now.

Good luck. But I am serious, anywhere in the career life industry, two sales a week is going to make you good money. And 10 kept appointments a week with qualifed prospects should get you there. Focus on getting the managers to explain how they are going to help you develop qualified prospects and get appointments.

 

[thenextlevel]

I have another meeting with him on Friday. I have a whole list of questions, I will add that to it

 

[Full Throttle]

2 kept per day is really 3 set. You really need to keep around two approach meetings per day and with closing meetings/deliveries, its around 5 meetings set per day.

 

[Bonerfide]

I don't know if anyone had the same experience with NYL as me but they called me a couple days ago after getting my resume and I spoke to an agency assistant who told me that NYL provides continuous PAID training for 3 years, leads, and unlimited income. I came in for a informative 1st meeting/interview and first thing they told me to do when I got there was take the "personality assessment test".

Afterward, the manager that was suppose to talk to me handed me a take-home background check Packet then pretty much shooed me off. He told me "we don't have any time right now to answer any of your questions." Then he proceeded to tell me "you have to take the background check/credit check before we can proceed." I wish they would have told me before I drove an hour there and taken the online assessment at home. Its not worth it for a PURE COMMISSION job.

After doing some research online (glassdoor.com), I found that a lot of NYL agents are generally unhappy there and were lied to in their interview. YOU will have to exhaust your natural market (friends/family) with the 2 appointments a day because I haven't heard about them providing leads which is standard for any insurance company. If I were you OP i would go with any of the top companies with high retention: Prudential, NW Mutual, Metlife, Liberty Mutual, etc

 

[xrac]

Take a serious look at MM and you may also want to look at Guardian. Of the career companies I think MM is the best with the most freedom. Guardian is similar but their BD sucks.

 

[Franz Kafka]

YOU will have to exhaust your natural market (friends/family) with the 2 appointments a day because I haven't heard about them providing leads which is standard for any insurance company.

I can see why the manager didn't want to spend another minute with you.