Questions on Virtual Financial Group

[Whirleybird]

I have agents trying to recruit me in VFG from LinkedIn. I finally agreed to look at it, and from my understanding (and correct me if I'm wrong, somehow I know you will), it's total focus is on recruiting. I was told to sell a few policies a week, but the money comes from recruiting. The advanced commission payout is very low initially, until you start recruiting and get into the VP status with so many agents under you, then your advanced commissions go higher.

I love the idea of virtual, since that's what the younger generations are all about, but I'm not crazy about the idea of having to constantly recruit. I want to sell insurance, and would like to do it online. Does anyone have any suggestions for some great virtual companies?

Virtual companies exist in virtual reality, as do your clients. Note: The "virtual" in Virtual Reality, actually separates it from Reality.

That being said, I'm sure that your chargebacks will probably be pretty real.

 

[VirtualAgentUSA]

Is anyone out there currently having success with this company called Virtual Financial Group? I am doing some due diligence on this before jumping in. I understand they are part of or owned by World Financial Group which is in turn owned by Transamerica. So far this sounds great if all is true and not overly hyped. Perhaps too good to be true. I am based in Massachusetts and there is another subsidiary of World Financial Group "World Financial Group Insurance Agency of Massachusetts, Inc." How does that fit into the picture for a MA based agent like me? They say that even if you are licensed in one state you can sell in 50 states. How is that legally done without being licensed to solicit or sell insurance in those states?

Is this just another company trying to sell indexed IUL to the people they recruit? The cost to enter into the program seems low which is a good sign but I want to make sure as much as I can that I don't waste my time. Any information that could be provided to me is appreciated.

Thank you JCBoston

Absolutely. Amazing potential for one who is self-motivated. Unique and powerful if consistency is implemented. 3 years with VF.

 

[jhancoc]

Re: Questions on Virtual Fianancial Group

Besides the negative side of this program, that is it a startup MLM, there are other concerns one should be considering before joinng it.

It seems like they are recruiting just about anybody and promising them financial prosperity in a short period of time. All they have to do is get their life insurance license to start.

The hype is outrageous all over the web. Everyone and everybody is a Sr. VP or VP or sorts.

And lastly and most importantly IMHO, would you really want to buy insurance or a retirement program from someone that has no experience whatsoever and is more concerned with building a downline than learning about the insurance business?

Whoever wants to blast me, that's fine. I believe this business should be made up of seasoned, dedicated people that are more concerned with their clients needs and are trained properly instead of trying to increase the amount of members they recruit.

I joined Virtual Financial in October of 2015. I've been in and around Financial Services since 1975, so I do know a little about the business.

Virtual Financial is legitimate. What we offer is the chance for someone to come into our industry and make money without having to go out and sit at someone's kitchen table and sell life insurance.

For those of us who are comfortable doing that we are called consultants, and we do the selling - not like the traditional industry where a new agent is turned loose immediately after a week of training to go sell everybody he knows that his manager hasn't already sold.

We do require everyone get licensed quickly, that way they can get paid. We work hard to get people in our agency promoted to higher contract levels. We give them incentive to work.

And we are structured much like a Real Estate Agency, except that when a person reaches the level of SVP, they do not become our competitor. We are still on the same team.

In over 40 years of this industry, I find VFG to be a breath of fresh air in an otherwise stale and stagnant industry.

 

[SWLW]

Have been recruited by these folks for a couple of days now.

Just got hung up on when I stated 'I already own Life Insurance and am not going to but a policy from Transamerica'

Was asking if he actually sold any policies, stated he has recruited 250 people (and reiterated he sold 250 policies).

Didn't even get to my genuine questions about potential chargebacks etc. (WHY would I want a commission on submission? Only pay me for policies delivered!)

They sent a text explicitly stating 'NOT MLM' and everything they said described an MLM platform. Not strictly opposed to that, simply prefer to sell insurance and financial products rather than 'Business Opportunities' or insurance to insurance agents.

See this is a cold thread, They wouldn't even keep feeding me they hype before they asked if I'd believe in it. Every time I asked what I would pay they would change the subject or start talking about the wonders of IUL. I am in the industry and know about products and living benefits.

They were getting my attention talking about the online tools available, and constantly circled back around to explaining how commission levels and pay are all based on recruiting.

Am sure there's money here, especially at the 'top.' Also know Transamerica and WFG are insurance companies, that actually sell insurance. Still don't know if they sell to non-agents, or allow a policy to be sold without getting a license?

All seemed scammy from the start.

 

[babybella2]

Anyone have new info on this company. The old thread is from 2015. I was very turned off by the first sale going to your up line

 

[Dawn Haubner]

Hi, I have read all the post about Virtual Financial. I am from Baltimore, MD. and was offered a position with them. I decided to check them out also. After reading these post I am more confused than ever. Most of you are fighting over your own personal problems with the company when all some of wanted to know was how stable the company is and how they are to work for. Dawn Haubner

 

[babybella2]

You have to ask the questions with them they will not offer. They mostly seem to recruit unlicensed people. They seem to have a very good deal for licensing course. And non captive until you get to VP then captive. Most seasoned agents will not entertain Virtual finance. I opted out