Penn Mutual
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Drtoughenstein
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They have amazing products that can be custom built for any need. I am a career producer & just contracted with another carrier through ash today. The career agent is their client. Your clients are yours.
If your going to go the career route Penn is a fine choice. The comp is very good, the benefits are great, and if you produce decent volume it gets even better. What I like about them over say Guardian, NMFN, and NYL is that your renewals vest after three years.
Why are you so eager to contract with ash? Sell as much Penn as you can. they are one of the only mutual's that have fantastic term rates.
Even with a career contract I was not required to register with FINRA which was also a huge plus.
They will probably try to push LEAP on you. Avoid that diffusion for several years and just go sell a bunch of policies.
Why are you so eager to contract with ash? Sell as much Penn as you can. they are one of the only mutual's that have fantastic term rates.
Even with a career contract I was not required to register with FINRA which was also a huge plus.
They will probably try to push LEAP on you. Avoid that diffusion for several years and just go sell a bunch of policies.
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I'm guessing you "were" an agent with them? How did you like it? Where were you an agent? Why did you leave? Did they have any of the expenses like the other captive companies?
I am still an agent with them. I'm in Florida and the they charge 50 bucks a month.
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- #6
Do you know any info on required quotas or expectations? Do they require you to work out of the office all day every day?
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From a product standpoint, I still like Penn. Name another carrier that has competitive products for WL, IUL, and GUL. Much less a mutual carrier.
If want to keep your benefits your going to be required to produce around $25k of FYC. If you dont plan on doing that I would not go with a career contract.
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- #9
I have to say that is one of the things that attracted me to Penn is the WL. The only downside is their minimum case size is $50k so im not sure if that will be a issue for people who want something smaller. The other company I have been thinking about is Pru but I didn't like they didn't have WL and was hoping they had something available on the brokerage side. And NYL is yet to be seen.
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They told me no fees for the first two years then they wouldn't be more than $400 per month. My only concern is they charge $170 per month to sell brokerage but they do give you $23k over two years which is not a draw or loan so it seems nice.
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It seems like all the "captives" I have been talking to have a quota around $25k for the main company. So it seems I will have to do that no matter where I go.
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I can't speak from a career agent point of view, but I can from a product point of view.
They have hands down the most flexible whole life product I'm aware of. The sad part is, no one there seems to understand just how great that makes it.
IUL isn't as great as it used to be, but it's still pretty strong.
One of the few carriers with an accumulation focused second to die IUL product.
Term rates are expensive.
VA (if your going to do that sort of thing) is pretty strong.
Underwriting can be a bit of a nightmare. They turn cases around like all the mutuals, slowly. Underwriting isn't super strict, but it's also not incredible lenient.
All in all good company. I've written a fair amount of business with them.
They have hands down the most flexible whole life product I'm aware of. The sad part is, no one there seems to understand just how great that makes it.
IUL isn't as great as it used to be, but it's still pretty strong.
One of the few carriers with an accumulation focused second to die IUL product.
Term rates are expensive.
VA (if your going to do that sort of thing) is pretty strong.
Underwriting can be a bit of a nightmare. They turn cases around like all the mutuals, slowly. Underwriting isn't super strict, but it's also not incredible lenient.
All in all good company. I've written a fair amount of business with them.
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