Is there a "BEST" captive Life company?

[benseattle]

I've been successful at providing supplementary benefits for years so I know business owners and I have contacts to leverage. Still, I believe I'm leaving a lot on the table. So I'm considering a switch to Life insurance.

Life sales will be new to me, so rather than go Independent and wander around, I'm thinking that committing to captive company and taking advantage of their training, enhanced commission structure and benefit packages would be a good way to go. I could mention the big, respected "name brand" organizations I've spoken to, but since I don't want to influence any advice, I won't mention them right off.

Question is: does one company (or two) stand out above the rest for any reason?

Your advice and counsel is greatly appreciated.

[wlunday]

benseattle... there are lots of considerations. Do you need a "guaranteed paycheck" while you learn the new trade, are you able to get by financially as you slowly build a clientele...

Many companies do well in the area of subsidies for new agents. However, the products they offer may not be the best for your client, making the actual sale more difficult for you. Other companies have great products, excellent new agent training and wonderful area managers that will help insure your success... but not much in the way of a guaranteed income when starting. What's better for you?

I assume you live in the Seattle area. If so, I can recommend a couple of agencies that may want to discuss opportunities with you. Another way to network is through the local NAIFA or Big I chapter in your area. They're easy to find.

If you want, PM me and share some of the info you have received so far...

Swymmer

[benseattle]

I'm very confused.

132 views (so far) of this question and only ONE individual has a response.

Certainly there must be more with something to say.

[Rob]

Probably because there are so many independent agents on here which means its hard for us to recommend a captive. Most independents would probably say "why would you want to go captive?" although I can see how there may be some reasons to do that. I would answer the first person to answer your post first as it would give some insight into why you are looking at a captive.

[benseattle]

As I look into the major life companies, I was invited this past week to the Northwestern Mutual Western Regional Meeting. Perhaps 800 agents from five states in attendance. I wasn't chaperoned at all, so I had a chance to rub shoulders with a number of reps. Sure, they paid their way to the conference so they were high on the company, but what impressed me the most were the large number of 20-year-plus agents who just LOVED where they were. Some had joined out of college, so perhaps they didn't know better, but others I met linked up with NMFN after successful careers in other arenas and THEY were ecstatic and pround of their decision as well. Oh yeah... when a 30-year old kid who started with the company as trainee/intern out of high school and today earns commissions in excess of $2 million a year does a little keynote speech, it tends to get your attention.

That being said, New York Life and Prudential also seem to be good spots for a new guy looking to make a 20-year commitment.

Thoughts?

[kevinraz]

Ben, I could be wrong but I think most of us on IJ are on the P&C side of the business. Perhaps that is why you are not getting much help here.

I did not realize that there were many - or even any - captive life only companies out there. I know State Farm, Allstate, Farmers & etc. all have captive agents who sell life and personal lines as well but have not heard of captive life only agents for some time.

Good luck, someone's gotta do it, might as well be you. If you're good you'll do very well in life.