How many insurance policies should a Farmers agent sell?
by Guest » Thu Jan 16, 2014 07:10 am
I'm new in this field and just joined Farmers. How many insurance policies am I supposed to sell a month? Are there any monthly goals for beginners?
Total Comments: 3
Posted: Tue Jan 21, 2014 06:44 am Post Subject:
You know this actually depends from person to person. Selling a policy is a hard nut to crack these days since people are not capable of buying anything. Moreover, there are harsh competition that you face from other agents operating within your city. SO getting one or two potential deals a month looks good to me. However, Farmers won't appreciate that and you'll probably make nothing by this.
Posted: Thu Jan 23, 2014 07:02 am Post Subject:
Trust me this is rather a very difficult question to answer. I have absolutely no idea what the Farmer’s insurance sales requirements are but today insurance is the only stuff to recommend since it’s the only way you can ensure the safety of your health and wealth.
But the problem with life insurance is that few understand how it works. If you ask someone that how the living value of their life insurance makes its place into their financial plan, perhaps they won’t be able to give you a reasonable answer. Most of us have no clue about it but insurance has living values as well as death benefits.
If you make use of your life insurance policy wisely, you can insure your retirement assets, reduce the tax burden during the after retirement period. I am a CFP by profession and I help people do income allocation, build better investment portfolios, risk management, tax planning, retirement planning and estate planning.
Though risk management is not insurance sales, if you have a car or house that is insured, then insuring your life becomes very easy. My clients often ask me if they should have insurance as part of their financial portfolio. I never say them NO.
Posted: Thu Jan 30, 2014 02:56 pm Post Subject:
I was an independent Farmers agent in NC (until Farmers left the state). I can't speak for a captive Farmer's agent but have worked with a captive Allstate agent. The company wants you to be a profitable agency. After your first year they will determine your loss ratio ( claims /premium). If it gets high based on Farmer's standards then you'll be warned to lower it within a period of time. You keep your loss ratio low by writing good premium and keeping your policies in force. By keeping your written business diversified with cross selling multiple lines your agency should be profitable. If you're unable to do that then make sure your resume is up to date.
They may not necessarily impose a quota but you need to give yourself one as a monthly goal. Developing a local network of referral business too will go a long way. I Hope this helps.
Posted: Tue Jan 21, 2014 06:44 am Post Subject:
You know this actually depends from person to person. Selling a policy is a hard nut to crack these days since people are not capable of buying anything. Moreover, there are harsh competition that you face from other agents operating within your city. SO getting one or two potential deals a month looks good to me. However, Farmers won't appreciate that and you'll probably make nothing by this.
Posted: Thu Jan 23, 2014 07:02 am Post Subject:
Trust me this is rather a very difficult question to answer. I have absolutely no idea what the Farmer’s insurance sales requirements are but today insurance is the only stuff to recommend since it’s the only way you can ensure the safety of your health and wealth.
But the problem with life insurance is that few understand how it works. If you ask someone that how the living value of their life insurance makes its place into their financial plan, perhaps they won’t be able to give you a reasonable answer. Most of us have no clue about it but insurance has living values as well as death benefits.
If you make use of your life insurance policy wisely, you can insure your retirement assets, reduce the tax burden during the after retirement period. I am a CFP by profession and I help people do income allocation, build better investment portfolios, risk management, tax planning, retirement planning and estate planning.
Though risk management is not insurance sales, if you have a car or house that is insured, then insuring your life becomes very easy. My clients often ask me if they should have insurance as part of their financial portfolio. I never say them NO.
Posted: Thu Jan 30, 2014 02:56 pm Post Subject:
I was an independent Farmers agent in NC (until Farmers left the state). I can't speak for a captive Farmer's agent but have worked with a captive Allstate agent. The company wants you to be a profitable agency. After your first year they will determine your loss ratio ( claims /premium). If it gets high based on Farmer's standards then you'll be warned to lower it within a period of time. You keep your loss ratio low by writing good premium and keeping your policies in force. By keeping your written business diversified with cross selling multiple lines your agency should be profitable. If you're unable to do that then make sure your resume is up to date.
They may not necessarily impose a quota but you need to give yourself one as a monthly goal. Developing a local network of referral business too will go a long way. I Hope this helps.
Add your comment