NYL, MassMutual or Guardian

[scagnt83]

Guardian allows the sale of IUL through one of their subsidiaries. They have several index annuities that are "approved" but its not that great of a list.

Mass has some fantastic products and their "illusions" are putting guardian to shame right now. Its funny how they are changing their tune about index annuities now. They have the best long term care product on the market.

I think they are both the same as far as benefits go. Health, pension, 401k match etc are offered by both.

Underwriting is much more lenient on the life side at Guardian which depending on your target market can be huge.

All of that is spot on when it comes to the products. These days I use MM if I want to maximize CV. I use Guardian if I need to maximize the DB.

Guardian is definitely more lenient on the UW. They also are good for non-cigarette tobacco users.
The IMO that Guardian operates for their captive agents is fairly decent, they pay street comp. Your right that they are light on IAs, but they have multiple IULs that are good like NA and LFG.

You cant beat MM LTCI. They also have a very strong DI product, but not as strong as Guardian's DI. Both MM and Guardian work the 401k & employee benefits markets; Guardian is a bit more competitive on that side.


I dont think that any of the big mutuals offer a match on the 401k. I could be wrong. But if I remember correctly they dont match the 401k because they are paying for your Pension benefits.

Guardian and Mass also will have more flexibility when it comes to negotiating comp vs. NYL. (assuming an experienced agent who has strong production history to show)

 

[LGilmore]

Actually Walt, these companies don't adjust commissions, they are what they are. Career agencies have a standard set up, not a whole lot different. There may be individual perks offered by a sales manager, but rarely if ever from home office.

To the OP? so you've done business with all three offices? are you supplying them with something that is not insurance? I think SCagent gave you a good answer to your question, as did I.

Maybe you're just not looking for an answer? You asked which one to go with and experienced agents said all three are solid companies, need a microscope to split hairs between them. If you sold a client any of these three companies, they would do just fine. So while the differences are microscopic between companies, you go to the next thing... working environment.

Most of us have found that no matter the company if you end up in a sales office ran by an arse hole, things will suck for you professionally. That is why we're saying go with the best "fit" for you between the offices. All 3 offer solid product to sell, all three have good offices and bad. All we're saying is at the end of the day, it isn't the benefit package, it's the culture of the office you have to deal with. Cheers and good luck.

 

[scagnt83]

Actually Walt, these companies don't adjust commissions, they are what they are. Career agencies have a standard set up, not a whole lot different. There may be individual perks offered by a sales manager, but rarely if ever from home office.

On the indy side they will negotiate on comp. I have been told by a Managing Partner at Guardian that he can also negotiate career contract comp for the right person. The local office recruiting you just gives you a slice of their overrides. But it is not something they do on a regular basis.

We both came from NYL. Over there mother mutual dictates everything other than what color suit you wear that day. The offices at MM and Guardian have more independence vs. NYL offices.

 

[walthamny]

At NYL, and at others, there is some flexibility as to how to compensate on how they are paying for renewal income your are giving up and joining them. at NYL, they would do this by giving you a higher expense allowance figure then they normally would. So on all your life business for the first 12 months, you would get an extra. They don't do this for everybody, and it is generally a Zone approval process. I never heard NYL changing benefits to someone new, because they are run by as you know people who have no common sense. However, any type of sales bonus plan, they generally have less control. Good Managing Partner can push things if they want. I agree, Massmutual and Guardian have more commonsense at the upper level.

 

[LGilmore]

Have to admit it is close to 30 years since I was hired into NYL. I am sure they've changed considerably since then. I was on I think the NYLIC 6 contract. The last one with a killer retirement benefit that paid you on face amount of whole life sold after 20 years. They did away with that during the purge back in the day. Couldn't afford to pay it out to as many agents as they had signed up under it.

So they've probably had to adjust over the years in their offers to agents. You're probably right. Cheers.

 

[Lloyds of Lubbock]

Guardian is the only one with a defined benefit plan for their agents.
Any one of these companies can do a model for you.
I think it is more important to search out the agency you want to be with rather than the corporate benefits.
Good Luck in your sarch