by Libby2 » Mon Mar 09, 2009 10:35 pm
Hello. I recently graduated with a BA, however, due to the recent economy I have not been able to find a job. I found some insurance agent job postings online and have a few interviews lined up. They train their employees online to get their license and also pay a base salary their first year.
I may sound stupid...but, do agents receive any type of health benefits?
Has anyone heard of Pennsylvania Life Insurance Company?
I would appreciate any input and thank you in advance.
I may sound stupid...but, do agents receive any type of health benefits?
Has anyone heard of Pennsylvania Life Insurance Company?
I would appreciate any input and thank you in advance.
Posted: Tue Mar 10, 2009 09:15 am Post Subject:
Hi Libby2..
Has anyone heard of Pennsylvania Life Insurance Company?
Pennsylvania life insurance company was initially a legal reserve company that was founded in 1890. It has turned out to be one of the biggest names in the specialty disability income insurance industry of late.
ArindamSenIndies
Posted: Tue Mar 10, 2009 10:37 am Post Subject:
do agents receive any type of health benefits?
Generally speaking, no.
Independent Insurance Agents "contract" with various marketing organizations to be "appointed" with the insurance company that has the products they'd like to offer their clients. What I'm about to write is going to sound ridiculous,...but,... it is the way it is.
Many, most and close to all life, health and annuity insurance companies DON'T actually have a sales division or any direct contact with the agents that actually write their business from a sales and marketing point of view.
Life and Annuity policies are distributed for the most part by Independent Marketing Organizations (IMO) and their "customers" are the General Agents who actually write the business.
Back to your health insurance question. There are some companies (meaning insurance agencies) that hire, get licensed and train "enrollment agents." This is typical in the group life, health and disability sector. The real agent goes out and actually sells the large group then his/her/their employee enrollment agents do the paperwork and service work at the employer's job site.
Many enrollment agents have regular employee type benefits. There's nothing wrong with any of this EXCEPT this really isn't insurance sales...it's "order taking." You're given a track to run on. Most of these agents could never operate an insurance agency and the "thought" of being commission only scares them to death.
Posted: Tue Mar 10, 2009 11:50 am Post Subject:
Unless you are a career agent with an insurance company, don't expect to receive any benefits. There are only a few career companies left. MassMutual, New York Life, Northwestern Mutual come to mind.
Posted: Wed Mar 11, 2009 03:07 am Post Subject:
Another insurance company that comes to mind is Liberty Mutual. They typically start you with a base salary (low 30Ks I believe) and will train and get you licensed. While they offer life products, it is very heavily focused on auto and home insurance. You are an employee of Liberty Mutual (captive agent) and as such, receive benefits. In my opinion, the money you can make as an independent agent more than compensates for the lack of "benefits."
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