Pros: unlimited potential income, 10 year retirement plan with lifetime renewals, potential for advancement, responsible for your own outcome
Cons: long hours and no time for a social life, treated like an employee instead of an independent contractor, drive hundreds of miles a week, leads begin to dry up, a lot of conservation and incomplete applications to deal with
First and foremost, you can, and if you work, you will, make money with this company. Potentially a lot of money. Furthermore, the opportunity if you make it to running your own office is a quarter to half a million dollar position. But it is no where near easy to get to.
The job is selling whole life insurance in the form of funeral protection, term life in the form of income protection and accident insurance. The "niche" is that they team up with Unions and other large associations and send direct mailings to their members with the guise of a "free $4,000 AD&D benefit" with fine print at the bottom of the letter informing of other benefits available. So for the 2.5% of members who send their response cards back, are under the impression that's all they're getting. Until you call them (and if they don't answer you call them dozens of times a week) tell them in order for them to get their free benefit you have to go to their house to witness their signature. Then of course the bait and switch when you get there and give a 35 min scripted presentation about their death and protecting their family for an hour's pay. Also it is a one appointment close, no thinking about it for later.
As an agent you are in the office Monday and Thursday from 10 or 11 am till 9pm at night submitting paperwork, attending an agency meeting and calling to book appointments. When you run your appointments, the leads they give you are always at least an hour if not more from your house.and you're in the field Tue, Wed, and Fri from 1 or 3 til you're last appointment which starts at 9:15pm, and can – more... last until 10:30, or even later (sometimes until 11:30 or 12am) and then on Saturday from 9am until 4 or 5.
As a manager you do the same but are also in the office Monday-Fri mornings from 8am everday for recruiting and interviewing
As far as the leads go, they are great to start, they give you a pack of 65 leads and they replenish them every other Thursday. What they don't tell you is that they start at 65, then go to 40, then 30, until eventually you're only getting 10 every other week and if you don't have a shoe-box full of referrals you are basically dead in the water.
Also they don't "allow" you to run less than 6 appointments per day.
Even though this is 1099 independent contractor position, you are treated like an employee.
The only way it is worth all of these hours and everything else is if you work your tail off and make it to an MGA (run your own office) you make a matching 150% bonus of everyone's production and will make $5,000-$10,000 per week – less