hello all , new comer here. I am a freshly licensed life insurance agent looking for a few tips and pointers on were to begin my journey. As you all know and I am becoming newly aware to these jobs are a dime a dozen. That leaves me thinking how do I know if I'm making the right choice on where to begin my career?! I have offers on the table from agencies like ( Family First life , Alliance , Crampton insurance group , Amerilife , ABN financial , and even down to things like Aflac and State Farm ) . A few stick out to me offering higher compensation then others of upwards of 115% with paid leads of 7$-$25. Others offer hourly pay with low commission and free leads. I guess in short I am asking for recommendations on some of the better agencies out there. Are there companies out there that offer decently high compensation with free leads? I would like to avoid coming out the gate spending a bunch of money on leads if possible , As I assume I will have a high fail rate at first. Thanks in advance.
picking the right agency
- Thread starter kolby113
- Start date
- 11,997
The whole metric agencies look at with providing leads to rookie agents is "will I make money if I buy leads for this new agent and train them?" The answer, if you just get experience and leave, is probably no. So there are a lot of "agent mills" that will just churn through agents because the ones that actually figure out how to make the money on the lead programs end up just using the old "some will, some won't, next" approach and it's very process driven. Average agent lasts X months, they work Y amount of leads, and average premiums = XYZ.
The other option is carriers that really just want to do insurance, not handle the logistics of recruiting/agent training/etc, so they offer the higher premiums and expect agents to do more for themselves.
I have personally met a lot of agents that have done well with both, but more often than not if you're on someone's lead program, you're going to be their lead junky, and the whole system is organized that way because they are trying to make money too. For someone looking for more of a job type situation in terms of look and feel, working for an agency that wants to be making overrides off of you is a great way to be involved with people who will be financially impacted by your financial success, because they're taking a cut of it. A lot of people think there is something in someway dishonest or unfair about agents getting lower commissions than agencies, but in terms of economics, that's sort of the two ends of the spectrum, (reduced commissions + leads) or ("full commissions" + full responsibility).
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The other option is carriers that really just want to do insurance, not handle the logistics of recruiting/agent training/etc, so they offer the higher premiums and expect agents to do more for themselves.
I have personally met a lot of agents that have done well with both, but more often than not if you're on someone's lead program, you're going to be their lead junky, and the whole system is organized that way because they are trying to make money too. For someone looking for more of a job type situation in terms of look and feel, working for an agency that wants to be making overrides off of you is a great way to be involved with people who will be financially impacted by your financial success, because they're taking a cut of it. A lot of people think there is something in someway dishonest or unfair about agents getting lower commissions than agencies, but in terms of economics, that's sort of the two ends of the spectrum, (reduced commissions + leads) or ("full commissions" + full responsibility).
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- Thread starter
- #3
yes very well put thank you that helps a lot. Are you familar with any solid agencies on the reduced commission + lead side of the spectrum that I can look into. I want to make sure I get my foot in the right door I've read a lot of wishy washy things on some of these agencies out here. Thanks for taking the time to reply I appreciate it abunch!
- 17,072
Are you wanting to work with seniors? Business owners? employee groups?
Face to face? Telesales?
Any past sales experience?
There are a lot of good places but many more less good ones. Most places that are going to have you give up commission for free or discounted leads are just going to give you previously worked leads. So don't put much value on that.
If you are in Arizona and want to do Final Expense face to face I would definitely check into Jose Arteaga. He has to be one of the top producing guys in AZ and he is only taking on a small number of agents so they can work closely with them. He normally does the full 120% commission and you pay for leads. But he has other options he could do to work you up to that if you prefer.
He's featured in some of these videos and gives his contact info there. Audio Interviews
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