Selling Insurance with Farmers or State Farm?
August 12, 2009 – 9:08 am
firequestion asked:
I used to sell insurance for a big company. It was an inbound call center so the sales were fairly easy. We got a base plus bonus. We did not get any residual income on the clients we had signed up.
I used to sell insurance for a big company. It was an inbound call center so the sales were fairly easy. We got a base plus bonus. We did not get any residual income on the clients we had signed up.
The opportunity of working with State Farm or Farmers seems like a much better opportunity. The income potential far surpasses what I could have ever made at my last job( after a few years).
The big question. The opportunity to get a job with these companies seems fairly easy. What would be some reasons people don’t or do decide to work for them.
Dirk
6 Responses to “Selling Insurance with Farmers or State Farm?”
As an exclusive agent, your on your own.
By zeuz on Aug 13, 2009
Selling insurance is down there in unpopularity with car salesmen. Nobody wants to hear it. Not everyone can sell insurance either, as it takes a 24/7 committment the 1st few years, lots of door slamming, being able to live on savings, and the ability to bounce back from being told not interested all the time.
Most people want a steady stream of income, not a “who knows if I’ll even make any money this week” situation.
By Mr. Prefect on Aug 13, 2009
State Farm has a program to help new agents with some financing. Drawbacks are with any company you have to meet numbers or quotas or they will drop you. You are on your own to get leads and find customers. You work your **** off for the first few years until you are established and then hopefully you get some good staff to take over some of the work after that.
Drawback with both companies is if they drop you or you drop out you can not take those customers with you. And, one drawback with State Farm is that when you retire you can not sell your book of business or pass it along to relatives or keep it.
Some companies allow you to keep your book of business or sell it. After all you built it up. Best thing to do is to interview with both companies and then decide. I know people that have been with both companies and didn’t make it. But if you work hard and make their numbers you can. It all depends on how hard you want to work. And, if you can put up with tough customers and sell your **** off. And, you will have to do lots of work for free in order to try to get customers.
By car253 on Aug 16, 2009
Both of these are large, financial solid, A+ rated companies. Both offer a large array of insurance products and financial services to their customers. You are a captive agent, meaning your contract permits to only sell their own proprietary products. However, both companies can satisfy the needs of the majority of their clients - both personal and commercial.
Farmers does have a slightyly more diverse product line, nonetheless. In my estimation, giving them a slight “edge.” In both cases, you will be doing more than just selling insurance, you will be running a business - an insurance agency. Hence, as your own boss, your income level is pretty much determined by your level of success.
Good luck.
By Mike L on Aug 17, 2009
I work for Primerica Financial and replace state farm and famers policies everyday. If i were you i would go to a near by primerica office and see there opprotunity. With this company you are not limited to insurance, but can work in every area of finance and put together a financial plan for people.
By Forest N on Aug 17, 2009
Peope DO decide to work for them because they’re suckers! They don’t decide to work for them because they are educated enough not to. I have heard a ton of people losing THOUSANDS of dollars to the Farmers Insurance Agent program. Farmers Insurance is one of the worst. Read this so you DON’T get suckered into the Farmers Insurance Agency program.
By Warrior on Aug 20, 2009