Un-sure...about ins.

[flatfive]

James,

How would you define what kind of company NAA is? What are "companies like NAA?" I'm wondering if by definition you consider me a company like NAA and if so, I'll take exception to your comments because I've got some of the happiest and best paid agents in the country who have a very simple business model to run without all the headache normally associated with running a profitable insurance business.

 

[Sam]

Flat, You and NAA are very different, but NAA has some real serious issues besides the lack of availablity of leads, and them getting the checks.

At heart, they are a mlm, which means that you cannot truly be encouraging of agents to learn the business well, if they get compensated much better by recruiting others.

 

[dvd493]

INSAZ,

I have experience with NAA and find the company to be very good. I went into the insurance business 2 other times in my life and both times I failed. NAA was the only one that I was able to make a living off of.

The reason for this is the leads. There are two types of leads, the A lead and the B lead. The B leads are worked over. The A leads have not been called by anyone in NAA. The only exceptions are if you have a bad manager who is just starting out and using them, then trying to pass them off as A leads.

The other reason I made it is because they have a structured training program that I plugged into. Two conferance calls a week and once a week in a managers office to turn in business and talk over what others are doing successfully. I learned a system that worked.

The pitfalls are as follows:

Not enough A leads to run effectively.
If you have a bad manager.
Not plugging into the training.
Not learning a system that works.

If you don't have a way to overcome these three things then I would recomend you speak with someone like Cheryl Banner at The Mortgage Protection Bureau in Georgia. She is a very nice lady and will start you right out of the gate on a 90% contract. You will have to pay for flyers to be sent out on your behalf though.

You can also speak with John Petrowski on this forum and he will give you very good information on another agency that will start you out on a 100% contract. You can also speak with John about other options. He is very informed and is willing to help people whenever they ask.

The other thing is, this industry is a white collar profession so things like that avatar are funny to some but may not be to the clients you want to impress.

 

[STIBROKER]

INSAZ,
I have experience with NAA and find the company to be very good. I went into the insurance business 2 other times in my life and both times I failed. NAA was the only one that I was able to make a living off of.

right up till the point that they want the money back because the business did not place or cxl'ed in less than a year.....and F&G loves this because it is a profit with out paying a claim......

 

[James]

James,

How would you define what kind of company NAA is? What are "companies like NAA?" I'm wondering if by definition you consider me a company like NAA and if so, I'll take exception to your comments because I've got some of the happiest and best paid agents in the country who have a very simple business model to run without all the headache normally associated with running a profitable insurance business.

Don't take no offense I was referring too companies like NAA, nothing more then a MLM, there are others out there.

 

[James]

James,

How would you define what kind of company NAA is? What are "companies like NAA?" I'm wondering if by definition you consider me a company like NAA and if so, I'll take exception to your comments because I've got some of the happiest and best paid agents in the country who have a very simple business model to run without all the headache normally associated with running a profitable insurance business.

Well after reading another thread I see you are in the MP side of the biz, well obviously there is a lot of issues here too deal with. Yet I would take the issue of "Lost Potential". Yet you refer to this in your comment

"without all the headache normally associated with running a profitable insurance business"

lets just change that around a little bit shall we. My agents can sell little policies and make a good living without dealing with the bigger issue of their clients lives? Would that sound about the same to you, it does too me.

 

[Crabcake Johnny]

What companies like NAA provide to newbies are motivation, goals, contests, support and atmosphere. Arguably most people do far better in an environment that has a good atmosphere and fosters competition. Unless you have been self-employed before or have run your own business I would never suggest that anyone try to be independent without insurance experience.

You have theory and what actually happens. Here's an example:

CHOICE A

15% contract, average volume is $3,500 X 3 deals per week = $1,575
Agent is given 30 free leads for the week, general agent is paying $8 a piece for the leads - so the agent is getting $240 in free leads.

CHOICE B

20% contract X $3,500 volums X 3 deals = $2,100. You buy your own leads - 30 of them totalling $240 and you net $1,860

You'd think you'll make more on choice B. In reality choice B will most likely put you out of business. Choice A will actually make you $1,500 a week. Choice B will probably make you zero per week because most people simply cannot run their operation as a business. What they do is get paid, spend 100% of it on bills and junk, then have zero left over for leads. Then they simply spin into a downhill spiral that works like this:

Make a decent check: Blow all the money: No money left over for leads: Get a crappy next check: Can't pay all the bills: Still no money for leads AND no money for bills. Game, set and match.

 

[James]

What companies like NAA provide to newbies are motivation, goals, contests, support and atmosphere. Arguably most people do far better in an environment that has a good atmosphere and fosters competition. Unless you have been self-employed before or have run your own business I would never suggest that anyone try to be independent without insurance experience.

You have theory and what actually happens. Here's an example:

CHOICE A

15% contract, average volume is $3,500 X 3 deals per week = $1,575
Agent is given 30 free leads for the week, general agent is paying $8 a piece for the leads - so the agent is getting $240 in free leads.

CHOICE B

20% contract X $3,500 volums X 3 deals = $2,100. You buy your own leads - 30 of them totalling $240 and you net $1,860

You'd think you'll make more on choice B. In reality choice B will most likely put you out of business. Choice A will actually make you $1,500 a week. Choice B will probably make you zero per week because most people simply cannot run their operation as a business. What they do is get paid, spend 100% of it on bills and junk, then have zero left over for leads. Then they simply spin into a downhill spiral that works like this:

Make a decent check: Blow all the money: No money left over for leads: Get a crappy next check: Can't pay all the bills: Still no money for leads AND no money for bills. Game, set and match.

Either way you do it there is going to be high failure rate amoung people giving it a go. Now there is obviously a lot of reasons, I would suggest is that sales training and the basic attitude of sales really suck. I ran several types of companies involved in selling primarily photography and DME I also worked for companies that offered full pay along with commissions, the failure rate is about the same in sales even though with the salary the person can last longer but eventually are ran off because they simply can't sell by the prescripe methods, which in the case of Olan Mills eventually everyone is ran off in sales, they call it the burnt out factor. Yet I never hear these companies actually accusing their selling methods?

As far as operating as a self employed person? I don't think you'll find much difference in any field may it be Insurance or a Resturant. Obviously some people can and some can't, I would suggest it has more to do with proper planning and discipline then anything else.

 

[James]

THANKS FOR THE REPLIES :P


IS THIS NAA CO. WORTH STARTING WITH? ARE THEY A LEGIT CO.?

I GUESS THE PHONE CALL AND THE GUY ASKING ME TO MEET HIM AT MIDNITE WAS SOMETHING I AM NOT USED TO....A JOB INTERVIEW AT AN IHOP AT MIDNITE.... :lol:


I JUST LEFT HIM WITH A BAD FEELING.....

I AM A VERY HARD WORKER...AND THIS IS SOMETHING I WANT TO DO.

IS NAA THE WAY TO GO? OR SHOULD I SEEK OUT SOMEPLACE LIKE FARMERS AND SO ON?

THANKS AGAIN...

I landed a great deal late at night one time while not at a IHOP but at Huddle House. Yet companies like NAA have terrible to no training! What they do offer is the emotional close which will burn you out sooner or later and leave you with a really bad taste for sales. They also offer no truth in their product and placement, since you sell on emotion once that dies so does your sale as in charge backs, which will run about 30% plus. Something most of these companies end up with even if they want to say it upfront or not.

 

[Crabcake Johnny]

Nobody can be "closed" on a product they don't see value in. Oh, don't get me wrong, you can leave with a signed application and a check, but then they get week after week, month after month to think about it when you're not in their face.

The irony is they teach upselling and loading that premium to the hilt so you can get the huge commission. It's ironic because that's what will cause the lapse. They might have been on the books forever at $50 a month but you whacked them at $90 and two months later the husband turns to the wife and says "this is nonsense."