November 15, 2008
What is the life of an insurance saleman like?
have fun asked:
I wanted to join a “company” World Finance Group, part of AEGON. They say they will train me about life insurance and difference securities and how to recruit more employees and customers. So far the membership fees and background check is $100 ! They dont want to reveal how much of this100 goes to membership and how much goes to background check! So far I understand that they customer that I would have would be the people I know. I will use their offices at “any local representatives”, I will have to services the accounts of my customers, have them to choose the right investment, mostly life insurrance. Sound an interesting job. I learn business anyway. BUT this whole thing looks more like a scamp or not suitable for me at all! Pay for a membership and then go out and look for customer on my own. They dont reveal to me the average income of their employees, they dont really revea to me how much time and effort one should pay, and whether they would get any customer at all!
by the way the website is WorldFinanceGroup.com
I wanted to join a “company” World Finance Group, part of AEGON. They say they will train me about life insurance and difference securities and how to recruit more employees and customers. So far the membership fees and background check is $100 ! They dont want to reveal how much of this100 goes to membership and how much goes to background check! So far I understand that they customer that I would have would be the people I know. I will use their offices at “any local representatives”, I will have to services the accounts of my customers, have them to choose the right investment, mostly life insurrance. Sound an interesting job. I learn business anyway. BUT this whole thing looks more like a scamp or not suitable for me at all! Pay for a membership and then go out and look for customer on my own. They dont reveal to me the average income of their employees, they dont really revea to me how much time and effort one should pay, and whether they would get any customer at all!
by the way the website is WorldFinanceGroup.com
Filed under Insurance by admin
Comments on What is the life of an insurance saleman like? »
I have never heard of them and they aren’t on the Aegon website. As far as paying money up front and having to find your own clients, that sounds normal and that’s why so many don’t make it.
I am very familiar with WFG.
They are a marketing company owned by Aegon (but they are not part of the Aegon insurance line), so you are NOT an employee. You are an independent agent. You do have to get your own business & recruit a downline (not employees). The membership fee is about right to join this type of company, there are other fees coming also, based on the learning & licensing you will be required to get. They cant say what salary you will get, b/c there is none. You are paid on 100% commision of what you sell. No sale, no pay. They will be happy to tell you what the highest producer there is getting (probably over $80k/month!). Remember: it is not a job! You are an independent contractor with no benefits!
With that being said; it does not mean that they are not a legitamite company or dont have good things to offer. It just has to be something you are willing to do. You have to recruit people & sell the insurance & investments. Think over it carefully before deciding. If you absolutly dont want to do that, then dont! You will just waste your fees & all that time learning.
It is not a scam. They are real & they do make money. That does not mean the same for you, though. You have to dedicate yourself to those meetings 2x a week (Wednesday night & Saturday mornings as I recall). Aegon is a real & solid company. Just make sure this is something you can dedicate to.
I work for two agents that are independent agents and they have very luxurious life styles. You just have to know the business and how to talk to people. Everyone out there wants/needs insurance. Thats why its one of the most profitable businesses to be in.
It is tough. 96% of all new salesman have left the business by the 3rd year.
The key to being successful is not selling. It is prospecting. If you can master that … you have a chance to succeed. If you can’t … you have no chance. People won’t seek you out … you have to seek them.
People don’t buy life insurance … it is sold. People tend not to like to be sold anything. It is a product that you can’t really touch, smell, hear. It is a feeling. That makes it hard to sell.