every company has issues and high turnover is common in this industry as a whole. just curious to hear from anyone who has any direct experience with them.
Tell me how the program works. Full-time/Part-time, captive, etc..I am a semi-retired educator (working with school 19-20 hours a week) and they have a local territory open.
Tell me how the program works. Full-time/Part-time, captive, etc..I am a semi-retired educator (working with school 19-20 hours a week) and they have a local territory open.
If you decide to become an "EA" (Exlusive Agent) with them, you operate on 1099 and either take over a book or build a book of clients. You are assigned a territory to sell/market to that other Horace Mann Agents can't work in. You can get a pretty hefty first 1-4 year subsidy base on production. Normal EA commission rates are 10% on home/auto, life 50-70%..up to 115%, and annuities are ~ 4-5%. New EA agent subsidies can increase the auto % home commission rate up to 20%. Aside from that their annual production requirements aren't that high, 100 cars a year & some property. They don't cut your neck if you don't produce life or annuity. Every market have their strong points.
Producer contract vary between each EA's office on how they want to pay you. Some are base pay + bonus, some split commissions, some hourly + reduced commissions, etc.
I'm in california so this might vary...but in the schools there are other insurance companies that target them as well. There is "Teacher's Pension" who is basically a indy agency focusing on educators and selling mainly LSW products. Life and Annuity only.
Fidelity is a big player here, mostly for their health savings plan with some focus on life & 403Bs. Life, annuity, disability & flex savings only.
California Casualty was formerly just for public employees such as cops & government agencies but have been expanding into the school system. They only do auto & home and only focus on teachers. They don't provide insurance to admin/custodial/yard duty.
We home, auto, life, and annuity to all employees of the school system...they can be teachers, admin staff, custodial,etc. I work with a licensed producer who works part time & is a retired principal.
I work part time as a producer on W2 (not the office owner)..I put in about 20 hours a week at most, yet I produce enough to surpass the production requirement to have my own office. You will do fine part time!
They require 325 points a year to maintain your EA office contract...each car is 3 points, home is 2 points, renters is 1 point. Annuity & life varies based on production.
Yes you are captive, I believe there is a 12 month non solicit agreement after termination.
Tell me how the program works. Full-time/Part-time, captive, etc..I am a semi-retired educator (working with school 19-20 hours a week) and they have a local territory open.
Aside from the company protected territories from other Horace Mann agents...you free to reign. I don't think there is a requirement to write a % percentage of educators vs non educators (you can write that as well).
Depending on which area of the country you are in, we have other companies we can sell for based on whats best for the client (progressive, foremost, hartford, etc).
You are also free to target all levels of colleges (vocational, private universities, etc). You can also target private preschools & such!
