grizzlybear
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like title, I have a chance to start up with farmers. Is it a good choice? thoughts?
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These 'careers' generally require you to take out a loan and work to pay it back. It's a fairly well-known scam.
i wouldnt be paying for anything, i believe youre thinking about becoming an independent which would require you to take a loan to start your own business. i'd pay roughly $450 to get my licence and classes etc to be able to start selling insurance through farmers.
And then you work entirely on commission. It's just a way for them to get your friends and family to buy insurance. There's really nobody else to sell to after that.
If they were really interested in you they'd be paying for the real certification. I know someone who went into one of these 'interviews' (which was more like a sales pitch). The $450 is just the 'Farmers certification' (i.e. you pay $450 to Farmers). You can't actually sell policies yourself at that point.
Essentially, you pay them money for the 'certification' to cover their HR department costs and then work completely on commission. It's a win-win for them: no investment yet the possibility of return.
Through the first two years, Farmers provides an excellent subsidy program with a guaranteed base of at least $84,000 for hitting the minimum requirements.
I know a Farmers agent. IIRC, Farmers has a really attractive training program that will actually pay your bills while you're building a book of business.
However, he — like a lot of long-time agents — is getting killed by the internet. All the national insurance cos are taking apps and writing coverage, bypassing the local agent.
I had a friend that was deeply into AL Williams (I think it's called Primerica now) the big MLM life insurance company. This guy was a true blue believer and relentlessly tried to get me to go to one of the meetings. He put a big push for this one particular meeting as some big shot was going to be there. So finally I relented and went. The big shot speaker started off with, "If you think you're going to earn 100k at your day job next year just leave now." I got up and started walking out. People freaked. I guess it's the first time anyone ever got up to leave.