by promark248 » Mon Nov 10, 2008 02:07 pm
I am a newbie to this whole industry.I have an interview tonight with a company that will train me.The pitch is if you sell 3 policies a week you will earn 900.00 weekly. and get a quarterly bonus 1200.They claim they give you 14 leads and you should sell 3 to start.Does this sound like it is realistic?The company sells only to seniors.I am wondering if I will be able to support my family with a commission position. I am good with people and deal with seniors currently in home improvement business.
Posted: Mon Nov 10, 2008 03:35 pm Post Subject:
I am not an agent, but I've been an adjuster or on the claims side more than 20 years...I always get worried when something is geared to ONLY senior citizens...there are many successful ETHICAL long time agents on this board...it would be to your benefit to state the compnay name and products being sold to get the opinions of those in the industry....there are some products and companys that you should run screaming from...I'm sure they will be better equiped to help you with that information
Posted: Tue Nov 11, 2008 05:52 am Post Subject:
Yeah, I would echo Lori, might be the company's name and a hint on the type of plan you're going to sell, would help the agents on the board to help you. I'd also suggest that you investigate more about the company before deciding to join them.
What else they have promised you? Are you a licensed agent?
~Jeremy
Posted: Tue Nov 11, 2008 06:19 am Post Subject:
Senior HealthCare Consultants, is one such company that works only with the senior citizens. It sells supplemental health policies to the seniors. You can read more about this company on this board.
Posted: Tue Nov 11, 2008 02:51 pm Post Subject: I have never sold insurance before.I am interviewing tonight
The company is Bankers Life.I went to second interview. They are claiming that this branch average is close to 70k first year. I have a problem being a telemarketer 4 days a week for this job and working on saturday to make phone calls.The walls seem to be closing in, my line of work is home improvements, work has been slow but still surviving.I do not know if I will like selling insurance?Please Help!!
Posted: Wed Nov 12, 2008 08:19 pm Post Subject:
promark248, welcome to the community.
I understand you are looking at a career with Bankers. It has been my experience that Bankers does not deal exclusively with senior citizens and this sends the red flags up.
However, I have never investigated anyone at that company and have nothing bad to say about them. I can say that the telemarketing, cold-calling, and working nights and on Saturdays is all part of the business. As soon as have gained the knowledge and experience needed to develope your own business plan, you won't have to work so hard.
You can certainly make a ton of money in the insurance business but if it were easy, everyone would do it. Where do you live?
Posted: Thu Nov 13, 2008 04:35 am Post Subject:
Very recently we have held a discussion on Bankers Life in our board, which might help you in gettign some insight about the company.
~Jeremy
Posted: Thu Nov 13, 2008 04:51 am Post Subject:
Good point Jeremy, I'm glad you remembered that.
Posted: Fri Nov 14, 2008 09:16 pm Post Subject:
Closing 3 out of 14 leads, unless prospected from friends and current business, is a really high ratio. If they are finding them in public records or the internet, it's improbable. They may find them through direct mail and get it that high, but their costs would be high as well. $300 a policy is low if they are doing final expense for seniors. But, I would never want to work for a monoline company that has a hard driving sales culture. I prefer to be a consultant and trusted independent advisor.
Posted: Mon Nov 24, 2008 05:44 am Post Subject:
i completely agree with OHInsAGNT.It is really a tough job to go for sell of 3 with mere 14 leads. Yah! but one thing they might have considered that if the sell is from your parent ( home) market(friends,relatives) then it is quiet possible.
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