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Unread 10-31-2007, 10:39 AM
 
Location: Huntersville
23 posts
Reputation: 12
Default Working for AFLAC insurance...Good or Bad decision?

Hello,
I am thinking of interviewing for a sales position for AFLAC in CHarlotte. I have several years of experience in sales (not insurance, however). I was doing some research on line about the company and found some interesting comments, sites about individual experiences of working for AFLAC. Just wondering if anyone could give me some feedback? Good, bad or indifferent?
Thanks.
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Unread 10-31-2007, 12:39 PM
 
857 posts, read 2,169,850 times
Reputation: 606
How interested are you in selling insurance? PM me and I can give you some feedback. I did sell for AFLAC
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Unread 11-01-2007, 07:41 AM
 
5 posts, read 139,244 times
Reputation: 38
Default Aflac

As a Benefits Manager that purchases insurance for my company, what I have seen with AFLAC is that they generally target younger people to sell their product to their moms and dads, their friends, cousins, cousin's friends and then the young person moves on. Doesn't seem to be a lot of longevity with that company.
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Unread 11-01-2007, 09:30 AM
 
Location: Wherever it is, I am sure it is cosmopolitan
674 posts
Reputation: 138
That is true for a lot of insurance companies though Jill, not just AFLAC. The problem with AFLAC (and others) is that they target people with a little sales or no sales experience and those who have never cold called (and are not necessarily comfortable with it). So they get frustrated and quit. Another problem leading to short stints there is that there is no territory for the rep. You are thrown out into the city and you may be running all over the other reps out there, not to mention brokers who are pushing AFLAC.

This is, however, the nature of insurance sales in general. Those who can be creative in prospecting will do well. The rewards at AFLAC for good results are wonderful-- trips to Tokyo, Hawaii, Europe.....plus income from renewals. So if you build a solid customer base, you will see renewal income sliding in, and that makes your life a lot easier.

Insurance sales is all commission, and I do not think AFLAC gives a draw. So I think it is ideal for PT workers or those trying to get sales experience to move on to bigger and better things later.
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Unread 02-16-2008, 04:31 PM
 
1 posts, read 131,427 times
Reputation: 29
Default Selling for AFLAC

Quote:
Originally Posted by njmdpanc View Post
How interested are you in selling insurance? PM me and I can give you some feedback. I did sell for AFLAC
I too am interviewing with AFLAC in NYC. Would really appreciate your feedback especially regarding pay. How realistic is it to earn $40-$50,00 yearly?

Thanks
aksister
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Unread 02-16-2008, 09:32 PM
 
857 posts, read 2,169,850 times
Reputation: 606
AFLAC is supplemental insurance. They do not sell financial services and don't focus on whole life. They do write term insurance so it is an easier sell. AFLAC policies are mostly written for businesses with what is called a group. There are no costs to the employers and the employees do get a good deal on the supplemental parts.
Typically an AFLAC agent will go into a business and speak with the owner, HR person, etc and come up with about 4-6 different types of supplemental insurance out of many more. Then go in at a predetermined time and present to the group. If more than 2 sign up you did a good job. On many ocassions, many more will sign up. You obviously get a commission on all sales and continue receiving as long as the clients continue after a year.
AFLAC also has some great policies you can sell to individuals. The cancer care policy is almost a no brainer. Fairly inexpensive and if someone has a history of cancer in the family, covers everything.
I used to call on businesses to get in the door, then split with another AFLAC agent who would do the selling and we split everything. It has been some time since I was with them but I still get commission checks.
If you put in your time and work, $40-$50k per year is an easy target. The guy I worked with made over $300k per year. Again, AFLAC is supplemental insurance and not a hard sell. To me, insurance salesmen are lower than used car salesmen (no offense to car salesmen).
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Unread 02-19-2008, 04:58 PM
 
2 posts, read 262,088 times
Reputation: 35
I went to an Insurance Forum and was told that AFLAC would recruit anyone. The only requirement is to fog a mirror. Is this true? Will they recruit anyone just to receive the 5% off of their first year sales?
I did some research and thought they were a reputable company. I agree that they have policies that would interest people. The cancer policy being one of them.

I am having some second thoughts now to becoming a Sales Agent. Since you have experience with them, can you answer my questions?

How much did you make in your time with them? What was the duration? Why did you choose to leave? In your opinion who would be the best company to work for? How aggressive is insurance sales? How much turnover did you see in the office you were in?

Would love your honest first hand experience. I don't have family or friends in the business.
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Unread 02-19-2008, 10:17 PM
 
857 posts, read 2,169,850 times
Reputation: 606
If you went to an insurance forum, then you would have found out that all the insurance companies and financial service companies will hire anyone. Insurance sales is a 100% commission job so the companies are not out to lose anything. The insurance companies will give you a test to see if you fit their mold and are capable of the job. I have never met anyone that did not fit in. Turnover rate in insurance sales for first year agents is about 80%.

AFLAC is a reputable company. Not sure what the 5% off the first year sales is?

I was with them for a little over a year. I did it part time while selling insurance for another financial services company. I would call on business owners and while setting up their financial plans and insurance policies, would speak with them about supplemental AFLAC policies for their employees. Then I called another agent in who did the selling and we split 50/50. I made over $60k with AFLAC in my one year and still get some commission checks from the other agent for renewals and incremental sales he still gets. AFLAC also gives stock in the company which grows as you sell.

I left because I did not feel comfortable with my other insurance job and got out of the business completely. AFLAC wanted me to stay and take over a district.

Insurance sales is very aggressive. Will take about 1-2 weeks of intense studying to get your life and health license. Find a company that will pay for your study materials and testing. Most insurance companies will make you pay your own way but will reimburse only if you pass. When you interview with an insurance company, they will ask for all your friends and family names and contact information. The more names you provide them, the more they like you. Also, the more committees or groups you are involved in the better. When you leave, you have already provided the company with all your contacts.

If you work at an agency, you will have to pay rent to the general agent, pay your own phone, copies, coffee machine for office, library fees, etc. Not uncommon for a new agent to be in debt to the general agent in the first month if you don't sell anything. After 6 months if you don't produce, not uncommon to be several thousand in debt to general agent.

AFLAC was not like this. Could work out of your own house so as to keep expenses down. You are also required to continue your education and eventually work toward other licenses (6, 63, 7, 73, etc). I only knew a few full time AFLAC agents and most are still there.

Insurance is only for the non faint at heart. Need to have a small amount of cash in the bank to hold you over until sales start and commissions come in. Don't work on a drawer basis because you fall behind quickly.
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Unread 02-20-2008, 10:22 AM
 
2 posts, read 262,088 times
Reputation: 35
Thank you so much for the information. I want to feel totally comfortable before spending money on this endeavor. Right now, I am only doing research and it helps to get input from the experienced. I have left a message for my recruiting agent. I would like to get clarification on some concerns that I have. One being our economy and how it has affected her. There are so many uninsured, so how are they able to afford supplemental. I was concerned with turnover. Apparently they said that it was ver little here in this region but I was never quoted a number. I am concerned with fees such as liability insurance and misinterpretation, legal issues, etc. A lot to consider prior to signing contracts. I would prefer to shadow her for a week to see her highs and lows in the field. I am hoping that she is open to this idea.

I will not burn any bridges but this is going to take time before I make a final decision.

Thanks again!
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Unread 02-20-2008, 10:38 AM
 
857 posts, read 2,169,850 times
Reputation: 606
Don't spend any of your own money on joining an insurance agency. The only expenses you may have would be for license and materials. See if you can borrow the practice and reading materials from someone who has already taken the test.

AFLAC is supplemental and is mostly offered through an employer so the money is taken out of paycheck before being taxed. No monthly or quarterly bills. AFLAC has only a couple of plans you can sell directly to a client.

If you have a recruiting agent, sounds like she will get a piece of what you bring in which is ok if she is going to train you and help you sell. She may allow you to follow her but I wouldn't be surprised if she doesn't. They do have sales training courses you can sit in on and see if it is something you would like to do.

Insurance for yourself in the insurance business is E&O (errors and ommission) which I think cost me about $200 per year.

The contracts are typically just registering you as a rep to sell AFLAC. They don't lock you in to any time period or sales amounts. You can cancel your contract at any time. Once you have your life and health license, you can go anywhere.
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