Questions on Being an Independent Agent with Transamerica (Life)

[Life Hawk]

Good job! Now take all the things you learned and put them to work for you. I would assume you are a life agent... not sure what your mix is... more FE or young family term...

Regardless... make sure you begin to establish yourself with other carriers that fit your mode of business... not all shoes fit the same and you don't want to be the agent who has to pushes ill fitting products on your clients... learn to become flexible (you are your own company now!)

Leary about buying leads but not opposed.

Leads done properly are profitable for 2 reasons:

1. They get you out in the field to see people - an absolute must!
2. They get you out in the field so that you can continue your education - every encounter has an educational aspect to it if you are willing to focus and observe.

I purchase fix priced leads so I know that I will get what I am looking for. You will need to call a lead vendor to get a perspective of your area... per 1000 mailers might work better.

Try some cold knocking...

Story from yesterday... I had a client move to Kansas City, MO. and was in the area delivering a policy to another client. I knew someone had to be in that apartment so stopped and knocked. No one home... so I knocked a cold door and introduced my self... I have a commitment of $80 a month on the table... only 2 door knocks...

You can do it... be willing to stretch yourself and move out into new ares...

 

[jonathan b]

Hi all,

I recently applied to my local (SC) Transamerica, went through a pleasant phone interview, took the required POP test (test that matches potential candidate's compatibility with sale success skills) and results came back that I was a poor match. One of the sections claimed I was not a "people person" which the manager (who I immediately felt comfortable with) and I had a good laugh at because this is DEFINITELY not the case.

Had a fantastic in person interview with the manager today and he said that the only way I can work for Transamerica as a captive (which I decided was the best route for me) is if I work for them as an independent agent and if I can generate 5-6K in one month, we can then go to his senior and appeal this test in hopes of my becoming captive.

My attraction to their advertisement was "x" amount of paid training, extensive in house and field training, book of leads and benefits. However, since I did not pass said test, I was offered a "temporary" independent position, unpaid, no benefits, no leads, (I basically have to solicit friends and family... it's fine, they're used to it and I have no fear of new people) No marketing, regular indi stuff.

As a licensed newby, my questions are these and additional insight is greatly appreciated!

1. What does "make 5-6K first month" mean? Product sales? Commissions? Lottery winnings? How does this work? How do I get paid? (was told 50% advanced once policies are placed and remainder is payed "as earned" checks are biweekly)

2. Is it possible the advertisement was intentionally misleading to get people to sign on as independents to save the company costs? Hoping this isnt the case because (again) the manager was pretty cool. (My skepticism stems from spinning my wheels for the past few months by an upline that I should have further investigated... Hey, free lesson and note to other newbies)

3. First year product sales commissions are outstanding (80-105) but the renewals average 1.5% on all products (for independent) Is this the norm?

My goal is to find a reputable company that provides success proven training (life or other) that I can grow with. Don't want to get burned again and I'm SO ready to work! I place this query in your capable hands, thanks for reading my novel and appreciate your advice!

Hi all,

I recently applied to my local (SC) Transamerica, went through a pleasant phone interview, took the required POP test (test that matches potential candidate's compatibility with sale success skills) and results came back that I was a poor match. One of the sections claimed I was not a "people person" which the manager (who I immediately felt comfortable with) and I had a good laugh at because this is DEFINITELY not the case.

Had a fantastic in person interview with the manager today and he said that the only way I can work for Transamerica as a captive (which I decided was the best route for me) is if I work for them as an independent agent and if I can generate 5-6K in one month, we can then go to his senior and appeal this test in hopes of my becoming captive.

My attraction to their advertisement was "x" amount of paid training, extensive in house and field training, book of leads and benefits. However, since I did not pass said test, I was offered a "temporary" independent position, unpaid, no benefits, no leads, (I basically have to solicit friends and family... it's fine, they're used to it and I have no fear of new people) No marketing, regular indi stuff.

As a licensed newby, my questions are these and additional insight is greatly appreciated!

1. What does "make 5-6K first month" mean? Product sales? Commissions? Lottery winnings? How does this work? How do I get paid? (was told 50% advanced once policies are placed and remainder is payed "as earned" checks are biweekly)

2. Is it possible the advertisement was intentionally misleading to get people to sign on as independents to save the company costs? Hoping this isnt the case because (again) the manager was pretty cool. (My skepticism stems from spinning my wheels for the past few months by an upline that I should have further investigated... Hey, free lesson and note to other newbies)

3. First year product sales commissions are outstanding (80-105) but the renewals average 1.5% on all products (for independent) Is this the norm?

My goal is to find a reputable company that provides success proven training (life or other) that I can grow with. Don't want to get burned again and I'm SO ready to work! I place this query in your capable hands, thanks for reading my novel and appreciate your advice!

That test is garbage. I worked for t.a for over 11 years. I have their crt ring which

 

[jonathan b]

hate to break the news to you but t.a. is only 1099 now. They give you a base of 500 for the month ,expect you to handle the book. I can go back to work for them anytime I want but maybe i will give them some business. They have a intra sensitive policy that guarentees 4.25.%/ The policy actually has reduce paid up of 90% after 20 years. They have a good solutions policy. I personally have both their cancer plans that i have had for 10 years. Never sold to myself but after my brother went to work there he had weeks where he needed a sale.

 

[jonathan b]

BTW, I recall the story that Mehdi Fakharazadeh also failed the initial interviews and assessments with MetLife... and he became the #1 insurance agent in the entire United States with a 50+ year career (and he has a serious accent that makes it difficult to understand him)... but he outworked a lot of people.

Don't let it stop you. The office is trying to show you how to reapply sooner and get your career going.

funny you should say this. I flunked the limra so went to work for commonwealth of missouri. They bought company 3 years later. I led region 6 of my 11 years there, won crt ring in 4.5 years and made 11 straight trips with them.

 

[Northeast Agent]

TA is captive in at least two states, at least NJ being one of them.

I'm in PA and talked to a recruiter there a couple months ago. She showed me their contract and went on about how great it was, around 70% plus bonuses, etc. You'd be better off getting your own contract and not having a "manager" breathing down your neck.

 

[jonathan b]

they started a program in 2008 when hagen was the president of the company. They allowed you to write for the company as a 1099 none captive agent. I'm going with i.m.o. but writing for them without the i.m.o.. My ex boss will be my point man. I lose 20% first year year but don't have to deal with their underwriting. Also anyone that doesn't have bank acct. I can write month billed.