Why Did You Choose to Be a Captive Agent?

[jdeasy]

Yeah, pretty much word-for-word what he said.

Me too! Simply did not know any better. They put me on a "fast track" that sounded really impressive to me.

I was only a captive agent for a little over two months. I was planning my escape from captivity well before the 2 months, but they were paying me a salary. Even though they were going to pay the salary for 6 months I bailed anyway.

 

[NovaGal]

Wow,
great answers everyone. Thought provoking.

What about having colleagues to bounce things around with... and sales meetings? If you are on your own, there is none of that available. Correct??

 

[tins]

Wow,
great answers everyone. Thought provoking.

What about having colleagues to bounce things around with... and sales meetings? If you are on your own, there is none of that available. Correct??

Umm...what do you think you're doing on the forum?

 

[pbbaseball]

Why?

Because I didn't know any better at the time.

Because I believed the promise that they'd train me.

Because I thought the agency would keep current apps on the shelves, paper in the copy machine, and actually pay me on time.

Because I thought "its an experienced operation, they've got to know what they're doing!"

Because I thought they told the truth that they had the best carriers.

Because I thought "there's no way I'll ever have the contacts at the carriers like these guys do!"

Because I didn't know I could get direct contracts.

Because I didn't know the cut they were taking was actually what I was paying them to deliver on what they said they'd do.

Because I didn't know this forum existed.

Because I didn't think I could speak with underwriters and wholesalers directly, and that was the agency's job.

Because I thought they'd make sure what I was doing was compliant and not mislead me.

Because then I thought this business revolved around leads.

. . . because back then I didn't know better at the time.

Sometimes one has to fail first to learn how to succeed.

that was priceless, and sums it up nicely!

 

[Frank Stastny]

Me too! Simply did not know any better. They put me on a "fast track" that sounded really impressive to me.

I was only a captive agent for a little over two months. I was planning my escape from captivity well before the 2 months, but they were paying me a salary. Even though they were going to pay the salary for 6 months I bailed anyway.

Me Three. Especially the part of not knowing any better.

Then I felt trapped because I had established a decent book of business. I finally said to hell with it, and became independent.

 

[HomeService]

You guys are being a little too rough on captives. I once lived in NY and worked for a large captive, but then, there were no real good brokers around at the time, almost everyone was captive, the smaller companies just did not get licensed to business in NY. A big captive was your only choice, back then, pretty much.

Then when I moved to TX, I loved working the debit with captives. If I found a case for an ordinary policy, I could write it on bank draft, or refer it away, and if I found a health case I referred it away. No biggie. The captive took care of me, paid my paycheck. I really rarely found a need for another company outside my writing authority, if I did, I referred it away. Jeez, sometimes it's not that bad being captive. I agree that liberty and freedom has its rewards, but don't knock the captives, there are positives there. It's sort of like working as a mechanic for a big Ford dealer, or venturing out on your own. Don't knock the guys at the dealer. Maybe someday they may venture out on their own.

 

[Newby]

I think there is definitely a place for captives. It's usually much better training for newbies (unless they get in with the wrong group.) And certain personalities would just never self motovate themselves to work if they are their own boss.

 

[NovaGal]

Umm...what do you think you're doing on the forum?

I know, I know cyber colleagues, LOL

 

[rapidrobert]

Here's what no one is saying: There's BANKERS LIFE captive and NAA captive and UNITED AMERICAN captive and then there are other career agencies that DON'T screw you around and offer compensation plans that can rival or even be better than the %100 contracts you can get as an independent.

Also, a lot of these guys on here want to recruit agents- so there's a little conflict of interest as well.

I've been an agent for over 20 years and have seen it all. It's never as clear cut as all that. AGLA for instance has an excellent comp plan and if you're not too lazy to prospect then you can make beaucoup bucks and not have to sell your soul to the devil for leads.! There's ALWAYS more than one perspective- it's not always black and white.

 

[NovaGal]

Ok, now we're gettin' to the good stuff. NAA is a pyramid scheme, correct? I spoke with someone there - I want to sell insurance, not recruit people to sell insurance...LOL... if I wanted to be a recruiter, I'd be doing that now.