Working with NAA

[jdeasy]

cAN ANYONE TELL ME WHAT IT IS LIKE WORKING FOR NAA? Is there a cost to join their agency? How much do the leads cost? Do you recommend them?

Thanks,
grandmaagent

It's been over 8 years since I started with NAA so things my be differnt as far as start up costs. There were none when I started with excpet for your leads and you didn't pay for them until after receiving them.

I started at 65% and didn't know enough to know that was low. I moved to 80% rather quickly. The leads were excellent, the best I've ever worked even to this day.

I got excellent training from my upline and it was sorely needed. My first year with NAA, {my first full year in insurance}, i was the number 14 producer with them at almost $260,000 ap.

It was a very good for me. Plus, back then production was king and that changed over my 2 plus years there to recruiting was king. That spelled the end for me since I do not recruit.

Are there some organizations within NAA that do not offer good traing and support? Of course there are. Has the quality of lead gone down? From all reports they have. NAA is not a pyramid type of program even though that is a constant slam they get.

They are simply another IMO/NMO that's set up just like almost all of the rest of them. Except you do not assign commissions to NAA the way way you do with some. That is a good thing.

Going with them would depend on what you want to market and how much training and support you need. If it's FE that you want to do, then do not deal with them. They do FE as a sideline and they do not understand that market nor how to train for it.

They are all about mortgage protection and annuities. If that's what you want o do then they could be looked at along with other IMO's.

 

[Rearden]

Grandma, if you can't afford to drop $2000 in lead costs over 4-6 weeks with EFES, then don't bother.

Make cold calls or just buy a list of seniors and go cold door to door instead. Then invest some of that money made on commissions into a lead program.

 

[midwestbroker]

NAA - Make $75K selling life insurance

Here are some numbers to think about (examples):
90% Contract
$60 per mo average premium (just guessing)
Commission per sale is $54 per mo. (annualized $648)
That equals 115 life policies sold per year for just under $75K

If your closing rate is 50%, you will need 230 appointments
There are roughly 250 working days in the year (give or take)
So, you need about an appointment per day.

How are you going to get an appointment per day? Even if you purchase leads (as someone mentioned @ $38 per lead), you will need to close at least 1 of every 17 leads (commission is $628 per sale, 18 leads cost $646).

Now, this is at a 90% contract, so if you start at 60%, you will need to sell more (173 policies) to reach $75K or have 346 appointments @ a 50% closing ratio.

I am just throwing out numbers to show some examples. Every sales ad out there talks about how much money you can make. I have yet to see one that tells the other side, how many appointments you will need to accomplish it.

3 Business Rules - 1. It will cost 2x's as much 2. It will take 2x's as long 3. Everyone thinks they are the exception.

 

[jdeasy]

NAA - Make $75K selling life insurance

Here are some numbers to think about (examples):
90% Contract
$60 per mo average premium (just guessing)
Commission per sale is $54 per mo. (annualized $648)
That equals 115 life policies sold per year for just under $75K

If your closing rate is 50%, you will need 230 appointments
There are roughly 250 working days in the year (give or take)
So, you need about an appointment per day.

How are you going to get an appointment per day? Even if you purchase leads (as someone mentioned @ $38 per lead), you will need to close at least 1 of every 17 leads (commission is $628 per sale, 18 leads cost $646).

Now, this is at a 90% contract, so if you start at 60%, you will need to sell more (173 policies) to reach $75K or have 346 appointments @ a 50% closing ratio.

I am just throwing out numbers to show some examples. Every sales ad out there talks about how much money you can make. I have yet to see one that tells the other side, how many appointments you will need to accomplish it.

3 Business Rules - 1. It will cost 2x's as much 2. It will take 2x's as long 3. Everyone thinks they are the exception.

And your suggested alternative is?

As I said, I can't speak to quality of NAA leads today but the whole point of being with a lead organization is to get leads. That's where you get the appointments in order to make the needed sales.

I got 10 leads per week from them and did $260,000 ap. I didn't have to pay $38 each back then, but lets just say I did. Of course you wouldn't have to do $260,000 to make $75000. I'm assuming the $75,000 is after lead costs so that about $20,000 in annual lead costs at 10 per week @ $38/lead. Meaning you would have to make $95000. In order to make $95000 at a 70% contract you would have to write $135,000 ap. Considering not takens and declines you would really have to write north of $150,000 ap. At $60/mo. average you would have to write just over 200 applications in a year. Or 4 per week.

No reason an agent couldn't write 4 per week if they are getting 10 leads per week. My first full year with NAA which was also my first full year as an agent I wrote 330 applications on 10 leads per week. You are right that everyone thinks that they are the exception but I was the exception. So doing 2/3 of what I did should not be an exception or take an exceptional agent.

And, these numbers are at 70%. if you are doing that kind of production you will certainly get more than 70%. Certainly they would move to 80% and then they would only have to write less than 4 applications per week to end up at $75000 after lead costs.

Are most going to do it? No, but the failure rate among life agents is over 90% regardless of who they contract with. A company with leads and training, but most importantly leads, is going to give the agent a fighting chance to be in that 10% that do make it.

 

[sergman89]

As I said, I can't speak to quality of NAA leads today

I am confused why every single person who says they did good with NAA leaves? Why did you leave?

I would never quit if I was making good money.

Why is the commission so low if I am paying for the leads?

I hear people say that 55% is low, and 90% is average. What companies are they?

I have adhd so this jumps from paragraph to paragraph as you can see lol.

Why is it so hard to find a good agency, and when you feel all warm, fuzzy and special about one you find out everyone says its a bad company.

 

[jdeasy]

I am confused why every single person who says they did good with NAA leaves? Why did you leave?

I would never quit if I was making good money.

Why is the commission so low if I am paying for the leads?

I hear people say that 55% is low, and 90% is average. What companies are they?

I have adhd so this jumps from paragraph to paragraph as you can see lol.

Why is it so hard to find a good agency, and when you feel all warm, fuzzy and special about one you find out everyone says its a bad company.

I left NAA because they changed from wanting production to wanting you to recruit. I don't recruit so I was out in left field.

Plus I had gone about as far as I could go with them as a producer and by 2006 the MP leads were getting hard to come by and they couldn't get me 10 per week.

Good IMO's are not that hard to find but this business is fluid. What's great this year may not be next year and you have to roll with it.

 

[sergman89]

Good IMO's are not that hard to find but this business is fluid. What's great this year may not be next year and you have to roll with it.

Finally!!! you just answered 2 questions there.

Thank you Jdeasy.