Veryhappynow – March 23, 2013
Wow, congratulations!!! I think I've heard, (correct me if I'm wrong), ONE retired from sls in 16-17 yr history. At least you do get renewals. If you don't retire from the FE industry when you leave sls, (like the MAJORITY do), you lose ALL you renewals & months 10, 11, 12 of active business the day you leave. It's in the contract. Even if vested for 3 or more years, you lose it all. Just a suggestion, but if I was looking to make sls my career, it would be very helpful if the (current employee) comments would directly respond to all these seemingly negative facts that the ex-agents are taking time to post. Thanks
Ralphe – March 29, 2013
The only thing CARING about this agency = is the way that they take very good care of the money that they FAIL to pay you and keep from you per their agent contract. COMPASSIONATE only to the women that they are trying to hook up with. AGENCY.........more like the firm, a cult, or the mob. Once you join, it could be very costly when you try to leave and get the heck out.............
Veryhappynow – March 23, 2013
Are you kidding me, "how restrictive senior life services is on ethics"? Maybe now, but not in the recent past. sls tolerated high producing unethical agents for months, possibly years, before firing them. I would conservatively say 95+% of the revolving door of agents at sls is because they could not make it financially because of the ridiculous commission schedule...their system has a terrible track record. Ethics has virtually nothing to do with the high % of failing agents. The "highest paid in the industry" comment totally discredits your post. For your future benefit, I hope you did not sign the horrendous, new & improved, FOURTEEN page contract
Demetric – March 21, 2013
I said it would be my final as well. The only way you will end up happy there is if they overhaul the system & the compensation. Otherwise, you will be among countless others who felt just the same, until reality set in. Divide what you make by the hours you work, & you will be surprised & tired as hell from trying to meet all the demands that will come. PLEASE don't say you signed the "new" contract, or your future in this industry is toast when you figure it all out & leave. The SLS way is rampant turnover. Good luck, you'll need it.....
readyourcontract – March 23, 2013
You are only paid by submission if the client writes a check with the application. If the client wishes to pay within the month by drafting the premium from there checking account, then you will be paid on issue. For example, if you submit an application on the 8th of the month, and the client wants to draft on the 1rst of the month for the following month, then you will have to wait nearly a week to two weeks after the draft date before SLS will pay you. This is because the agency (SLS) wants to validate payment from the carrier before they pay you. The office staff only validates draft first premiums on certain days of the week. Depending how the days fall in the month, you could be waiting awhile for that commission. To run a business, you need cash flow. Unless you are able to get checks for every application, then most of your business will be draft first premiums. If most of your business is draft first premiums then you will mostly be paid on issue. Last, how can an agent survive on a 50%(only 30% advanced) contract waiting nearly 4-6 weeks for his or her commission. The answer is they don't which is why SLS has one of the highest turnover rates in the business. It is all by design because you are not vested and they keep your renewals.
Ralphe – April 1, 2013
Tell the truth.......you are only there to make the owner richer, and to deflate your own bank account. Even the top producers will tell you that they are NOT making the type of money that they need to support their family. They can't even pay the rent or mortgage, let alone support their family. That is why the agents have SOO much pressure on themselves to build a team, because they soo desperately need your override just to survive. They need it, because the truth of the matter is that the only person doing well here = is the owner himself and he knows it. Everything about this company is total FRAUD ! They will stack agents under a few, just to make a few look better and so you actually think that you can build a team !!! Team building here is a revolving door and has been for 30 years. The company never grows either; it just stays the same year after year because more agents quit every year than they add each year. Why ? If it were soo great here, why wouldn't folks want to stay ? There is a HUGE reason for this and why they quit....... Then SLS will LIE to you about why soo many agents quit as well, and they will say it is because they were unethical or they had marital issues. NOPE ! They have to lie about it, think about it = because it everyone really knew the truth and WHY soo many of the agents quit, and that they quit because you can't make a living here = and that they can make great money selling life insurance (but just not by NOT selling for SLS), then ALL of the new agents would quit asap, correct ? Even the few that they stack agents under are going broke....... and they will complain about how broke they are 24/7 at the annual meeting. RUN AS FAST AS YOU CAN.......YOU HAVE BEEN WARNED !!!