Would like some insight. Opportunity at nwm

[hpdorman]

If you're going to go with a mutual, NYL, NML, and MassMutual are the three to look at first.

MassMutual offers the most "freedom" to sell other products.

NYL and NML are more "captive".

You might want to "interview" all three in your area, get a feel for the sales managers/general agents, see if you click with one or another, and most important, talk privately to other agents within the agency who have been around a few years, and agents that have been around a few more years, and a few that have been around a long time.

As the sales manager that's recruiting you details about what their 5 year agent retention records is.

This is a tough business to start out in. A great business to be in as a vet!

Good luck! H

 

[RickRoss]

PaladinX,
You sound just like me. To me, that's not a bad thing as I'm going through the same thing as you are right now. The folks on this forum, as you can see, sometimes tend to be a bit harsh.

I left a nice sales position with a large corporation about 6 months ago: strong base salary, quarterly bonus, stock options, 401(k) w/ match, pension, full benefits from day 1, etc. I am now looking to get into insurance sales. Every company I have interviewed / met with so far has greatly disappointed me.

NWMF is a huge name, maybe not in NYC, but I am originally from MA and it's definitely well known there. I'm in KY now and thinking of getting involved with them. I, like you, have a million questions, and even t hough I have a burning desire to give it a shot, I have the little ghost on my shoulder called reason. Every time I get close to thinking of taking a position, I re-evaluate things, read negative things about that company, dream about the phrase 100% commission, and back out.

I don't know how much that advise has helped, but if you want, I'd definitely be up for talking with you about what you're going through. Maybe we'd be able to have a mutually beneficial venting session. I know the rest of you out there are saying, "Aww...isn't that cute?" Jealousy's a bitch, ain't it?

 

[David C]

Most opportunities are what you make of them. Some say NML sucks, some say it's the best thing that ever happened to them.

Not to be a shill for Ameriprise, I like some of what they do, not all of it, but, I know numerous people who've been there twenty plus years, do a good job for their clients, and have a large, predictable income.

 

[Dave020]

I am just annoyed that I spent 10 minutes giving this guy the inside track on NML and only to find out he has zero interest in insurance, has done zero research on the market and carriers, and would fail in less than 6 months even with the information I provided.

This thread is pointless.

 

[Franz Kafka]

I am just annoyed that I spent 10 minutes giving this guy the inside track on NML and only to find out he has zero interest in insurance, has done zero research on the market and carriers, and would fail in less than 6 months even with the information I provided.

This thread is pointless.

Some people make it in insurance while most don't. Only difference IMO is how each views his/her job. To the original poster: consider the fact that every top producer when asked if they would quit their job upon winning a lottery all say they would not. I was on overseas vacation for 2 weeks and all I thought about was going back to work. It IS the greatest job in the world.

 

[xrac]

.....This thread is pointless./quote]

I agree! One must have a can do entrepreneurial spirit and not be willing to accept anything but success. If one starts out to "see if they will like it" or to "give it a try" they usually won't last.

It is like the show Biggest Loser on TV. Some of the contestants who wanted to quit and go home near the start have went on to become absolute fitness freaks. It is incredible but it would not have happened if they had gave themselves the option of quitting. The winner of the show the second season was a guy named Matt Hoover who lost 157 pounds but he almost quit early on. His attitude was terrible but he perservered and won the show, won the money, married one of the contestants, etc. Absolutely changed his life because he did not give up. I think just about anyone can succeed in this business if they have the resources and determination to make it happen.

Read the stories of John Savage, Mehdi Fakharzadeh, and Ben Feldman and you will understand what I mean. These all time greats phenomenal success was more because of commitment, work ethic, and plain ole guts then it was on superior talent.

 

[indaville]

NML is a good company to start with. Depending on the agency they have decent training and good products for your client. I spent the first 5 1/2 years of my career with NML. I started when I was just 18 years old so don't let your age be the reason not to take a look at the career. The business owners and doctors you spoke of could care less how old you are if you know what you are talking about.

This business can be one of the most lucrative careers if you are willing to do what it takes to be successful. Problem is most people are looking for the easy way out and if that is the case then you have to be ok working for a salary.

Matt

 

[Dave020]

Agreed. I saw college interns working appointments with major league people at NML. They just booked 'em and took out a senior agent who made the sale.

 

[JRoot]

"Very unstable, non desirable job to have right now"

Where else are you going to get ahead in this economy? People are losing their jobs left and right. I have many unemployed friends who are on the daily job hunt. I have total job security as long as I keep myself on the daily grind and the only way we lose our income is if we stop working.

Income potential is unlimited for us (and at NMFN). I could never go to a salaried job and know I'm going to make $60k one year and maybe make $65k the next. In my opinion, you limit your goals by taking a fixed income job.

This career takes discipline and courage and NMFN will teach you that. If you question everything they say, then forget about it. You'll talk yourself out of it from the get go.

 

[PaladinX]

Lgilmore. Thank you for your response as well, Your assessment agrees with my own premonitions. I guess the risk of uncertainty does not sit well with me, especially when the odds are not in my favor. So i do not want to go into this with blind faith, but be realistic about what to expect in this field. I am not conceited enough to believe that if 1 out of 100 enjoy the career, I will be that 1. Yeah of course having that blind faith might benefit you in any industry, but it can also be misleading belief as well.

Dave, I apologize that I offended you. As I have wrote in my post, if you read it entirely, that I appreciate and thank you for your insight and advice. I appreciate the responses of every single one of you who bothered to reply to my newbie thread.

Again, if my questions offend anyone, or they seem ignorant, well, I am someone with no experience in insurance or sales for that matter. I am looking at a career that appears at first glance as shaky and uncertain. I guess I am trying to determine if the attempt will be worth it for me. I am sure there are those on this forum just like me, rookies, or those starting out in the business, and those who might have made it successful. Perhaps this board lacks those who have it and failed and dismissed the field all together. Shrugs.

Again what bothers me, or my concern is that you go through all the work and training and cold calling and frustration, and then you do not see a paycheck for months. I dont see basepay as something bad. I see it as an assurance of payment for your work.

The recruiter showed me a statistic, that the average salary for first year life reps was 65 thousand. Now I am not naive enough to buy that figure. I would bet that average is a lot less then that.

The office is very tiny, i believe they only have maybe a few sales reps currently, and I believe they been in office there since around 2002, give or take.

to the person who is in a similar boat to me, i would chat anytime. Sounds like we both have the same concerns, And u know what.. nothing wrong with it, even if others mock us for not being so gung ho.

again i ask the question.. what is the success rate for a life insurance agent in this industry? 1 out of 10, 20, 30? I rather look at the average then look at the top 2 percent.