Life insurance quotas? Captive agent

[Agent5913]

The company I am contracting for in the next couple of months has a Life quota. You have to sell at least 3 per month. The first month it is not required at all but the second month it starts. It runs all year so the year quota is 36. If you sell 10 in january and your lazy, you can cruise. Has anyone heard of this? Is 3 per month alot of poor?

Forgive me, Im new.

Thanks

 

[David C]

Three per month is not many at all. I guess it could be rough for a rookie.

I don't like quotas, but I need them. Without someone breathing down your back many will get lazy and not push themselves.

What is your primary market? Life? Health? If life, you need to push yourself for more than three per month, be a stud and go for ten a month.

 

[Agent5913]

its mostly a P&C company

 

[WBunch]

Well when I started out with Monumental Life they did my income goal and it came out that I had to do 3 policies a week...Lets just say that if you did just the quota you will not be in the business for very long because you will starve.

 

[James]

If you are selling life and not PC, if selling correctly a 100 lives a year is normally enough to put you in the top of almost any company.

 

[BKrocko]

When I was with Country Ins., they had the same type of Life quotas. If you didn't hit quota, they would penalize you and reduce your salary. The idea is that you need to submit a lot of applications because of underwriting hold ups. If an APS is ordered, it could take months before you get an answer back.

It seems like there were a lot of times that the policy was issued just after quota cut off - you know, right after you were penalized. The other problem is that as a captive agent, you can only present one company. Customers go to the internet and run their own quotes, then ask why you cannot match the other companies. Sure, you can sell yourself and how great your company is but the bottom line is that they will usually go with the lowest price given that it is with a reputable company.

Also, it did not matter if you sold a million P&C policies - if you missed the Life quota, you were a piece of S!@#.