HomeService put it well. It is an attitude or frame of mind that is hard to describe. They want to upscale their market but they want to do it with a very middle of the road product and pay an old time debit commission rate. They pay homage to training the agents to work an upscale market but then most of the local management actually trains them in the old debit way of doing things.
Western Southern Anyone?
- Thread starter NKYNewbie
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HomeService put it well. It is an attitude or frame of mind that is hard to describe. They want to upscale their market but they want to do it with a very middle of the road product and pay an old time debit commission rate. They pay homage to training the agents to work an upscale market but then most of the local management actually trains them in the old debit way of doing things.
- 2,088
Liberty National did it as well. A lot of companies did it. They moved out of the debit mode. Kind of like "progressing" or "evolution". Basically, if you go back far enough, Pru and John Hancock and all the big guys were debit, way back when. Some transitioned out of it and survived, others could not evolve correctly for some reason. There are still a few doing the debit. They decided it was the niche they wanted to be in.
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American National and United insurance of america are still hardcore debit companies...I know of agents there making rounds with a list of collections that they need to make during the week. Some have lists bigger than bible verses..Here in California at 4+ a gallon of gas. you can imagine the wear and tear of an agent car and at 500 dollars a week in subsidy. Then your paycheck decreases to the point of your time on the road with filling up your tank. You might as well be working for free. Out of curiousity I attended a meeting in one the companies mention above. Their divisional vice president came down and stated that the debit business was the future of the insurance industry for years to come.
Are you kidding me?? lol
Are you kidding me?? lol- 2,088
American National and United insurance of america are still hardcore debit companies...I know of agents there making rounds with a list of collections that they need to make during the week. Some have lists bigger than bible verses..Here in California at 4+ a gallon of gas. you can imagine the wear and tear of an agent car and at 500 dollars a week in subsidy. Then your paycheck decreases to the point of your time on the road with filling up your tank. You might as well be working for free. Out of curiousity I attended a meeting in one the companies mention above. Their divisional vice president came down and stated that the debit business was the future of the insurance industry for years to come.
I worked for both of these. United in like 1994, American National in like 2000. The pay was the same back then. so it should be like 1000 a week right now with inflation, no?
I think maybe you misunderstood, what these VP's usually say is: "our future is with debit", not that the industry's future is debit. Or something like that.
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WS pay is like 575-700 a week subsidy depending where your office is located for appox 13 weeks. They hold all your sales until the 14th week in which they drop them into your comm. account. They also drop anywhere from 5750-7000 on the same week. so your sales plus the additional drop is in your comm. account payable to you at 10% per week until it deplenishes...If you dont sell, then your check will quickly decrease to nearly nil. The key is to bring business every week to survive.
United is at 500+ a week pay for 26 weeks plus commission. Bad thing is that any book of business that you inherited if a policy lapses, then it hits your account. It could be business that was written 20 years ago...Debit all the way thru route collecting
American National is 500+ a week for 20 weeks plus commission. Same structure as United....Debit
United is at 500+ a week pay for 26 weeks plus commission. Bad thing is that any book of business that you inherited if a policy lapses, then it hits your account. It could be business that was written 20 years ago...Debit all the way thru route collecting
American National is 500+ a week for 20 weeks plus commission. Same structure as United....Debit
My Hat's off to you!
A staff manager that is brutally honest and doesn't blow smoke..The career sales division with AGLA had small books of business that new agents inherited... With some agents not making it 6 months, the poor people on the book had been beat to death by agents coming on and "prospecting the book"... 
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