The New York Life Insurance Company is big and successful. If you think life insurance career is easy, think again. If you think personal financial representatives are on entry level, they will be judged. Do you want the life insurance career and your personal financial representatives the true facts? Read this article.
I remember that 15% of women entering life insurance career years ago were women. Nowadays, some career life insurance companies such as the New York Life Insurance Company are now close to nearly 50%. Moreover, in an enterprise where too many male and female life insurance agents are flooded, recruiting figures are up. This is a marketing system. Change your name to potential applicants from life insurance agents to financial representatives, and suddenly there is a prestige and easy money. Ask yourself why the name of the insurer is the New York Life Insurance Company and not the New York Finance Company. It's just a name game.
ACTUAL INFORMATION Labor recruitment of insurance agents or so-called personal financial representatives could hardly increase their retention rate during the first and second half of the new recruitment career. Ten years ago, 86% of newcomers left their life insurance sales in the first 18 months, now 85% left it, 15% left. After only four full years of experience gaining, only 7% remains, and is not an important factor.
Why are you paying more than 3,500 repeating companies in 2008, such as the New York Life Insurance Company? According to figures, some 3,200 employees were appointed in 2007, and in 2009 they expect 3,500 new financial representatives to train. For me, this results in 10 200 inexperienced repetitions in 3 years. Can anyone logically look at the numbers? A financially solid foundation founded in 1845 has a total of 11,500 agencies. Of these, 90% are of course not new financial representatives. Common interpretation of new workers who keep a lasting career False . The analytical studies of New York Life Insurance Agents show a somewhat higher retention than others. A similar insurance provider loses at least 70% of its first yearly agents.
The New York Life Insurance Company still has a poor retention rate. However, in the past 10 years, the strategy was implemented, with few competitors being so successful in imitation. This strategic method means recruiting agents, "financial representatives", with a strong emphasis on a wide range of cultural backgrounds. This is a rapidly expanding area that is underestimated by agents of the same nationality and with language use. This strategy includes the personal presence of Chinese, Korean, Vietnamese, Indian, Asian and Hispanic, African American and other cultural residents.
Although the New York Life Insurance takes too many agents, this is the same number of games that competitors are exerting. It is a fact that this is a profitable tradition for the insurance provider, as the outgoing agents sacrifice 100% of the fees collected at the company. This difference lies in the credibility of the New York Life Insurance Company. For many years, it is recognized that most of the MDRT, a million dollar roundtable, are members. That does not mean we should reach nearly one million dollars. However, MDRT sales principles and fees are adjusted annually and vigorously enforced to ensure that rating is one of the best among the best. The new agent is not a financial representative. Here, he is called a new agent for a financial advisor or financial advisor, hurting every really experienced and well-informed professional personal financial representative and designer. The New York Life Insurance Association mentions the possibility of providing life insurance and financial counseling on its website for new employees . Be honest here. A trainee of agents can hardly perform the effectiveness of research and life insurance sales effectively. This explains why industry turnover is so great. The sale of life insurance to cover deaths or the payment of the mortgage is largely subject to the exact financial advice of a specialist. Likewise, acquiring a contractual license for the sale of investment products does not mean that an agent must be able to do so.
A real financial representative must be highly qualified to advise. This often means we are half rich in prosperity and we advise them how to create their full financial position. Planning may involve reorganizing hundreds of thousands of dollars. Due to the upcoming economics, even the finest financial planners were given customers' cold shoulders when the accumulation of assets dropped halfway. New York Life Insurance will surely have the best experienced financial representatives in the business. However, most of these averages averaged 10 years of continuous training and specialization, while giving a variety of denominations as evidence of their ability to acquire. A prosecutor is trainee in wonderful years. Only so much insurance sales to survive in the critical early years is a challenge that few people can master. Engaging agents in the 45,000-dollar income environment and bringing millions of dollars to customers actually means burning them into the furnace. Every salesman has a comfortable sales level starting with the prospects close to his or her level. After sales skills and product knowledge, this level is gradually increasing. Few new agents are comfortable with customers who can easily adapt $ 50,000 a year to work on a $ 200,000 + annual revenue-based customer base. The average American middle class does not need a financial agent, the hard-working life insurance agent's service works well. Although New York Life Company provides quality training, it does not guarantee success. My insurance career so far and my 25 year insurance consultant have analyzed the tip of the agent's data NO . However, if a tail has most of its properties or properties, I can assure you that at best I will have a 50/50 chance. You have to put the business in a good financial position, do not have to charge credit cards, and hopefully a decent nest egg. If we are able to speak fluently in another language and concentrate on the ethnic group, that's extra.
You have to admit that the average insurance agent is looking for $ 25,000 a year at an early stage, so you have to look at it as a career as a step building process. Very few insurance brokers or financial agents are proud to earn $ 100,000, especially in the first four years. While product knowledge and most sales skills are over time, other careers must already exist. An extraordinary dose is the never-ending decision to break the odds, phenomenal self-confidence, and the prerequisites for fear and rejection. Add to this ability to do everything I did originally to teach as a salty seed and then completely rework it.
You're never in the business as a corporate representative, you're in business yourself. Money rewards come only to those who are quick to distance themselves from failures . If you still really feel that after reading your article, then the New York Life Insurance Career may become a reality