Question For Metlife P&C Agents

Sep 17, 2008

  1. DawgFan
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    DawgFan New Member

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    I am in the interview process. Would you recommend Metlife P&C? How much $ can you realy expect the first year? How much money does Metlife allow for your office location? What advice can you give? I need all the pros and cons.

    Thank you!
     
    DawgFan, Sep 17, 2008
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  2. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    My advice is this: don't forget to ask for a ride in the blimp!
     
  3. eric rose
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    eric rose Expert

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    I am a current Met P&C producer. I'd be happy to discuss any questions you may have. Email me at [email protected].
     
  4. xrac
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    xrac Guru

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    A lot of us would be generally interested in Met Life P&C and what your experience has been like. How long you have been with them etc?
     
    xrac, Sep 17, 2008
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  5. Nttwrkz LLC
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    Nttwrkz LLC Expert

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  6. eric rose
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    eric rose Expert

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    Okay since there appears to be further interest I'll answer the questions here. I've been with MetLife Auto & Home for 1 year. Not new to the industry, but new to Met. There are pros and cons like all programs. This is not for everybody but it does have its benefits.

    Pros

    Minimal investment required. Met does not require any money up front and will even pay a salary for the first three years. This is a w2 employee position (possible con). First year salary is about 20k and decreases considerably in the second and third year. By that time if you are producing, the renewals more than make up for the drop in salary.

    Discussing Met P&C with clients almost always leads to a discussion on life insurance. It is fairly easy to sell a decent amount of term life without really trying. More so than other companies that I have been with.

    Met has a GA that you can use to place any business that doesn't meet Met's appetite or you may not want on your book. Commish is a joke but better than nothing and allows me to place business when I otherwise would have no options.

    Based on Production there is some reimbursement for office expense and leads. You'll need a little money to get started but quarterly reimbursements do help quite a bit.

    Cons:

    This is a captive position and they are very restrictive in what you can sell and where you can be appointed. The same product (MetLife Auto & Home) is available through many GAs without the restrictions, and in many cases at the same commish.

    Like many outfits, there is NO training. My RSM has approx 30 agents reporting directly to him and he is always traveling to meetings and recruiting. Learn the business somewhere else before coming to Met.

    Customers do not think of P & C when they think about Met. All things being equal they are a little more comfortable with AllState, State Farm, or Nationwide. It makes closing a slight uphill battle at times.

    MetLife Auto & Home is not MetLife. It is a MUCH smaller organization and run like a mom and pop outfit in my opinion at times.

    I was forced to give up my 6 and 63. Only fixed products are allowed. Variable products are sent to the Met with a capital M agents and we are forced to sit at the childrens' table.

    Met Requires every insured home be inspected by the agent. At $4 a gallon, I wont write a home by itself. Adding in time and money I'd rather pass this business along to another agent if the client is more than a half hour away.


    All things considered for the P&C agent who likes to sell life insurance it isnt a bad deal. If you have a lot of money to invest on the front end there are better deals to be had, but if not you can build a nice little business for yourself. I did not post the Commision structure because it is being changed as we speak. I will have the numbers and update with the new info by the weekend.

    I hope that helps.
     
    Last edited: Sep 17, 2008
  7. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    I must say...that was one of the...no... THE most accurate synopsis of Met P&C that I have read here.
     
  8. eric rose
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    eric rose Expert

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    Thanks Chumps.. I've picked up numerous helpful if not profitable tidbits of information from this board. I'm happy to contribute where applicable.

    If there are any other questions I'm happy to answer them to the best of my ability.
     
  9. bobson
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    bobson Guru

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    I'd thank the person that forced you to give up the 6 & 63.
     
    bobson, Sep 18, 2008
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  10. saieddie
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    saieddie Guru

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    Gots to agree w/Chumps on this one. Great synopsis.
    My 2 cents:
    Pros also include benefits, company 401k contribution, coop advertising

    Cons - noncompete clause, you don't own the business

    The PCS's used to get paid on a point basis, not premium. Good if you write alot of preferred(low premium) business, bad if you have a lot of high premium cases.
     
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