Transamerica Agency Network

[Jshininfo83]

Hey, I am looking to join as a career agent and found out this company.

Any of you guys are currenlty working for this company?

How is the company such as compensation and environment?

No plans for New York Life.

Since I am a year old agent, I want to learn more about the business.

Or is there other companies like TAN?

Basically, I want to know how much they pay you for commission and other benifits.

Thank you for your time guys!

 

[chaseman]

I have never worked for them, but I had a few interview/ conversations with the local agency manager several years ago and declined. My general feeling about it was, it was once a Debit company (home collection of premiums), but transitioning to doing Ordinary (bank draft) business only. There was a book of business that would be given to you with a certain amount of premium being paid each month from that. No collections were to be made any more. You would get a very small residual base from that book (after maybe a month or two of guaranteed salary), and grow the book by selling new policies every week. You can contact those policy holders, some orphans who have not been called by an agent in years. I have worked in the Debit business before. If you do that type of work, you will learn a lot about prospecting daily and selling your company's specific policies, and build relationships with your clientele. It will give you a very strong work ethic if you are up to the challenge. You will have a manager that will make you feel pressure like you have never felt before, and if you do not continually produce enough sales each and every week, you will be made to feel like you could be fired at any minute, even if you have faithfully produced for years. If you sell an app a day, you will be in the good graces of your manager. Sometimes there is no line between personal and business time because, you need to be with a client when they are available, typically in the evenings but not always. Your family time can suffer from this. I would speculate that the average agent who sells 3 typical apps a week probably makes $40,000 a year. If you sell 5 apps a week, you may make closer to $70,000. You buy your own gas. I know that I am generalizing. They will have pretty good benefits, which are part of your golden handcuffs. If you sell 2 apps a week for a couple of weeks in a row, that's when you will see management's love for you wane, and they will sing the old Janet Jackson song: "What Have You Done For Me Lately?" If you can find enough prospects on your own week after week while wearing out your car and burning gas, you will do fine.

 

[CasualT]

The guy who sold me my policy was a Transamerica agent. He was with them for over 10 years and made some good money. He has since left in the last 6 months to go independent. He went independent the same reason why I started independent. More product choice to offer your clients.

Trans has a good Final expense product. And their Trendsetter with Living Benefits simplified issue is nice. I sell that one to my younger friends. But if your clients can't qualify for those products then what ?

 

[gca80]

You will also be asked to provide a Project 200, so that your manager will train you on that. You are held accountable for the book of business that is assigned to you, meaning if you lose any of it, lapses, etc., you have to replace it. Just some additional information for you. Good luck to you!

 

[BADTROUT]

I have a very knowledgeable team leader at Transamerica our team works with who im sure would give you some information on it impartially as he is a Colorado Sales Manager versus California. I will PM you his email address.