Phoenix Life Insurance Company

[Lou]

I heard that Phoenix Life Insurance offers a big salary to there agents. I've never heard of a salary this big with any insurance company, and if it's true I just wonder what they ask for? Has anybody worked for them recently and does anybody know anything about this

 

[Mike007]

Do the numbers and see what the quotas are. Often times a salary is tied to a quota. Many times, if you are able to hit the numbers consistently, you would be better off without a salary in the first place because you would be earning more through higher commissions.

And if you can't hit the numbers, the salary won't be worth much anyway because you would be getting fired from your job soon.

 

[Lou]

Do the numbers and see what the quotas are. Often times a salary is tied to a quota. Many times, if you are able to hit the numbers consistently, you would be better off without a salary in the first place because you would be earning more through higher commissions.

And if you can't hit the numbers, the salary won't be worth much anyway because you would be getting fired from your job soon.

I agree Mike, from what I was told they pay for salary it would have to be ridiculous quota's I have been in the business for over 15 years and I just don't believe it. Thanks good advice, God Bless.

 

[Lloyds of Lubbock]

When I started in this business I worked for Equitable.
I took a salaried contract.
Underwiting was not so fast then.
While i had a decent amount in U/W nothing had been paid out for 2 months.
The agency manager called me into his office and revoked my salary.
I in turn quit...that changed his attitude fast.
Companies that offer salary or a draw are very careful.
An agency manager does not want to go into debt, that salary will be pulled fast.
You may want to check Phoenix ratings.

 

[pfg1]

Phoenix is a B rated company, who would want to work as an employee for them. Maybe the big salary is to cover their E&O. LOL

 

[InsuranceIsLife]

Phoenix is such a pain to deal with.. Poor customer service and if the client applies and total coverage of inforce life insurance exceeds 500k, they have to use their reinsurance group Nassau-re to underwrite and I've seen it take over 2 months for a SI policy to get approved (took 3 weeks to review 1 APS). Not a very financially stable company

 

[Life Hawk]

When I started in this business I worked for Equitable.
I took a salaried contract.
Underwiting was not so fast then.
While i had a decent amount in U/W nothing had been paid out for 2 months.
The agency manager called me into his office and revoked my salary.
I in turn quit...that changed his attitude fast.
Companies that offer salary or a draw are very careful.
An agency manager does not want to go into debt, that salary will be pulled fast.
You may want to check Phoenix ratings.

I know that State Farm agents would use them a bit back in the day, but I think they stopped using them... wondering if their SPWL didn't get them into some trouble.