Opportunity to work with Farm Bureau

[jallhands]

Re: Farm Bureau

You will probably start out about $40,000 but that is not all from the book that will be assigned to you. Part of that is incentive money to get you to work for them. you will howerver be selling LIFE INSURANCE primarily and have to sell a good bit of it the first few years to be validated. The corp headquarters for Southern Farm Bureau Casualty is in Jackson, MS and they do a real good job of training...Most of the pressure is to sell the life and bank products and the p and c will take care of itself...so they say.

Thanks for the input! This is what I have been hearing...I hear so many different things about selling life...I guess it all depends on you, your personality, as well as your selling technique. My buddies are telling me that it is not as bad as most say...and most of the time if they have their P&C with them, they can get their life products as well.I was contacted yesterday by the district manager and was told that he will call me back within the next week to setup a test location...I am assuming this is some type of personality/knowledge test. How long does the hiring process normally take? I know that it does take a while....just wondering?
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Also, if you don't mind....Explain "Validated" as to what it means in the insurance world....

 

[Wardo]

Re: Farm Bureau

I am neck deep in the hiring process with Michigan Farm Bureau, just waiting of BG checks to cement formal offer. The process, for me, has taken about 2.5 weeks, it has been accelerated to meet the June 1 trining class. There was the usual online screening test, 3 one on ones with the DM, and finally a 4.5hr grading interview....fun stuff. I looked at SF, Allstate, and FB felt right for me....every one is different. There is a 36mo. probation period in which goals must be met to proceed. After the 36mo. you are presented an agent contract and the benchmarks, (personal health) insurance, and much of the operating expenditures all become yours. Get off to a fast start, FB compensation (other than commissions) is heavily front loaded.

 

[jallhands]

Re: Farm Bureau

I am neck deep in the hiring process with Michigan Farm Bureau, just waiting of BG checks to cement formal offer. The process, for me, has taken about 2.5 weeks, it has been accelerated to meet the June 1 trining class. There was the usual online screening test, 3 one on ones with the DM, and finally a 4.5hr grading interview....fun stuff. I looked at SF, Allstate, and FB felt right for me....every one is different. There is a 36mo. probation period in which goals must be met to proceed. After the 36mo. you are presented an agent contract and the benchmarks, (personal health) insurance, and much of the operating expenditures all become yours. Get off to a fast start, FB compensation (other than commissions) is heavily front loaded.

Thanks for the reply. This is what I have been wanting to hear. Explain what you mean by compensation being heavily front loaded. I think I have an idea, but just want to make sure that I am on the same page. Do you think that the hiring process is the same with all Farm Bureau's or different state to state? I would like to talk some time...you can e-mail me at [email protected].

 

[Wardo]

Re: Farm Bureau

Farm Bureau pays you a "salary" of sorts for the first three years, personal health insurance, and etc. Front loaded means just what it says. Do not quote me on the numbers, this what it looks like: Months 1-3/$3000...4/$2800....36/$300. Decreasing FB pay, every month, from month 1-36. Each state has its own FB headquarters, stand alone. I would expect some of the processes to be the same, but am not sure they are. Ask lots of Q's

 

[Philly]

Re: Farm Bureau

Friend of mine started with Farm Bureau two years ago. You do start with $3,000 a month then slowly goes down. After a year you start paying for office rent by year two around
$500 a month. Year 3 paying $800 for rent and if you make it that far you pay back the $50,000 they loan you. Like I said they give you the $3,000 then goes down and at the end of the 3 year you start to pay that money back. I believe they take 10% of your commission monthly. Hope this helps!

 

[jallhands]

Re: Farm Bureau

Thanks for all your input guys. I am starting a list of things that I want to ask the DM...especially since I am new to the business. FB is banking on you doing your job, so lowering the "salary" is just balancing the compensation out I am assuming. One of my friends said that his Office Manger is supposed to be taking out for expenses, but he doesn't....

I have been trying to learn and take in as much as possible while I am still at my current job...Do any of you guys have any suggestions on things that could help...

 

[JUB]

Re: Farm Bureau

Jallhands, any updates on your progress? I am just starting my training with FB in the midwest and am liking what I see thus far. It seems like different states have different agent start-up programs. In our state get two months paid training and that is it - the commissions kick in month three and it's straight commission from then on. The office rent in the developmental office starts the first month you are Appointed (Month three after two months of training). After looking at a many of the life, P/C and multi-line companies, it really seems like FB is a great option for someone who would like to sell more than just life, health or P/C. We have a few Agents that came from other companies in our class and it's been interesting to hear the stories from the other companies...

 

[jhj002]

Re: Farm Bureau

Hello everyone,
I am currently new to the insurance business and this forum. I am currently in the second interview for the hiring process with farm bureau and I am also enrolled in p & c pre licensing courses. Anyone have any knowledge of what the contract looks like for a nc farm bureau agent? Also, how are the state exams? Are they in any way similar to the pre licensing exams?

 

[zekewup]

Re: Farm Bureau

I have just went through the process and got the call from the DM that I have been approved he wants to meet to make an offer. I am in Michigan. At first I was very excited about the Farm B opportunity. Recently I found out I work with a new hire at my current company who was fired after his first year. He felt he was doing well was writting p and c but did not meet expectations regarding life quotas. Are there any 1-3 year Farm B agents who could comment on their opinions after their time with Farm B and any thoughts on the failure rate?

 

[cgreen]

Re: Farm Bureau

any updates? i'm going to be starting october 1 with farm bureau, and just wondering how you guys have been doing.