National Agents Alliance? Legit or Keep Away?

[mark93311]

I am in the process of getting my Life and Health license and have spoken with New York Life about joining them but saw an interesting ad for National Agents Alliance.

Lots of video testimonials of agents making over $100K in their first year and doubling the next year. Sounds intriguing.

Does anyone know if this is for real? I think it's an MLM which scares me.

Any thoughts or feedback?

Thanks.

[Sundance]

If it sounds too good to be true...it (more than likely) is!!!

[Dennhy]

Hi Mark,

I am with NAA. I have worked with this group about 5 months now. I have had a few months in the $6,000s & the last two a bit over $10,000 (this is in commissions), so it can be done. If you want more info or have more questions, give us a call at 636-394-1324, & ask for Meaghan. You said you saw all these people stating they made $100,000 in their 1st year on the website, well I personally think it can be done. You have to find something you believe in and go after it to be successful, just like any other line of work.

Take Care

[Sundance]

Hi Mark,

I am with NAA. I have worked with this group about 5 months now. I have had a few months in the $6,000s & the last two a bit over $10,000 (this is in commissions), so it can be done. If you want more info or have more questions, give us a call at 636-394-1324, & ask for Meaghan. You said you saw all these people stating they made $100,000 in their 1st year on the website, well I personally think it can be done. You have to find something you believe in and go after it to be successful, just like any other line of work.

Take Care

But you didn't mention...is it an MLM?

[kevinraz]

Dennhy, I'm suspicious of you. You joined IJ today and respond to this post - perhaps you are trolling for NAA items on the web and responding to make it sound better?

The phone # you give is just a nameless machine, no business or personal name is on the voice message. If this is a business # shouldn't you say who your firm is?

On a related note - search in Yahoo for National Agents Alliance. The second prefill is "National Agents Alliance Scam". I'm not saying anything other than that's what comes up.

Is it MLM? Sounds too good to be true.

[Sundance]

Very nicely put kevinraz.

[Dennhy]

Hi Folks,

No trolling here, I read the insurance journal and saw the post. I am part of NAA and what I posted my personal production. The phone number is active so I don't know what that is about. Just like any insurance company you have agents, district managers, regional managers and so on. Do you consider them to be MLMs? If you do then NAA runs just like them so therefore you can call them an MLM. I represented Farmers Insurance for over 15 years & my district manager kept hiring agents on top of agents, so that is why I left to become a broker. I just needed a company that had good leads, training and direction to supplement my other lines of protection I offer, which they do nicely.

Thanks

[Reeder]

I joined NAA in May of 2006 and worked with them for about 8 months. The whole organization is set up to sell you leads at $20 a pop. They promise that you are the only one who gets these "fresh""Hot" leads, however when you get the people on the phone they have already talked to 2 or 3 other agents. The marketing they do is direct mail pieces that talk about "mortgage protection" and you are told never to tell them it is life insurance. They brainwash you by having you listen to motivational tape, and live group phone calls where they talk all about how much money they have made and how easy the work is. They love to tell you that you can work for just one day a week and make a months worth of cash.

Its not like I did not make any money. I had some good weeks and some bad. However; 90% of the policies I sold 18 months ago have fallen off the books. Often in the first year so my charge backs were very high. The busness is all non underwriten, so called simplified issue life insurance. This stuff is very expencive, and when they are approached by a real insurance agent and quoted a legitimate price for insurance they drop that old policy like a hot potato.

The only people who make money over the long term are the recruiting managers. They pay new agents 55% at issue and no renewals. The managers get any override up to 85 or 90% (30-35% for your hard work, then the next upline regional manger gets the overide up to 105% for your work. Does this sound like a pyramid? What is worse is that you have to pay them for all your leads, $20 each. That company has 4 very rich guys at the top, a few regioal agents, and several dozen managers who make some cash. Everyone else just spins their wheels making money for their upline.

There are other people who run legitimate agencies of life insurance for the same market. They usually offer simplified issue and regular products for thier clients. It helps to add on medical insurance too. The whole benefit of one of these Idependent Marketing Associations is access to carriers and their lead program. Find an honest group and get some real business written.

[wlunday]

How interesting! Hey, Scott, it's too bad 'ol Dallas Viper didn't get to blog about some of those ethics topics we shared earlier! What a piece of work!

I guess I gotta get me a yacht so Dallas considers me rich. Does my 1988 20-foot open bow count? Hee Hee!

Hey Mark93311... keep asking the questions! The only bad question is the one that didn't get asked...

Swymmer

[mdterpfan88]

NAA is a scam. Father worked there for over a year. Very, very pushy and all they want is for you to purchase leads. Appointments are few and far between. They advertise all over the place. Totally an MLM. Stay away!

[prezzoo]

Dallasviper - all you have done is make personal attacks. If something written in the paragraphs below is incorrect then let us know. Your name calling is straight out of an elementry school play ground. Please be professional and show respect for the rest of us.

I joined NAA in May of 2006 and worked with them for about 8 months. The whole organization is set up to sell you leads at $20 a pop. They promise that you are the only one who gets these "fresh""Hot" leads, however when you get the people on the phone they have already talked to 2 or 3 other agents. The marketing they do is direct mail pieces that talk about "mortgage protection" and you are told never to tell them it is life insurance. They brainwash you by having you listen to motivational tape, and live group phone calls where they talk all about how much money they have made and how easy the work is. They love to tell you that you can work for just one day a week and make a months worth of cash.

Its not like I did not make any money. I had some good weeks and some bad. However; 90% of the policies I sold 18 months ago have fallen off the books. Often in the first year so my charge backs were very high. The busness is all non underwriten, so called simplified issue life insurance. This stuff is very expencive, and when they are approached by a real insurance agent and quoted a legitimate price for insurance they drop that old policy like a hot potato.

The only people who make money over the long term are the recruiting managers. They pay new agents 55% at issue and no renewals. The managers get any override up to 85 or 90% (30-35% for your hard work, then the next upline regional manger gets the overide up to 105% for your work. Does this sound like a pyramid? What is worse is that you have to pay them for all your leads, $20 each. That company has 4 very rich guys at the top, a few regioal agents, and several dozen managers who make some cash. Everyone else just spins their wheels making money for their upline.

There are other people who run legitimate agencies of life insurance for the same market. They usually offer simplified issue and regular products for thier clients. It helps to add on medical insurance too. The whole benefit of one of these Idependent Marketing Associations is access to carriers and their lead program. Find an honest group and get some real business written.

[volstrike3]

Well... it seems like we got our answer. There are several rational people saying it is a typical MLM set up and there are two "one post wonders" making big claims, spouting self help platitudes and attacking others. It doesn't sound like an organization I would want to be a part of. Dallasvipers rant reminded me of the awful day I was tricked into attending a MonaVie "tasting" under the guise of an invite to a neighborhood BBQ... it was the worst 2 hours of my life. MLM's target people that are down on their luck that are willing to believe in easy money. Insurance is the best sales gig in the world for somebody with great relationship building skills but it isn't easy money during the start up phase. If you need preset appointments or hot leads... this is not the business for you. The "one shot closer" mentality doesn't work in insurance because the client will eventually figure out they have been sold a poor product and they will replace that product... if that is your style you should stick to time share, auto or copier sales. Why keep spinning your wheels selling overpriced term life insurance or pre paid legal services that will be cancelled as soon as the person figures out what happened when you can put that time and energy into building lifelong client relationships?

[truth]

All of the negative stuff you are hearing about NAA is absolutely true. I worked for them...well, I paid for leads for an entire year and was considered a good producer..20K/month. With all of the things they want you to join/pay for/and go to..events, clubs, etc...it's hard to stay profitable unless you're a recruting machine which also costs money. And what the guy said about policies falling off the books is SOOO true, it makes the 20K you write turn into 0K really fast...listen, NAA has some great things to teach and you can learn a lot from SOME of the people there but the best thing I ever did was leave. There are SO MANY other great opportunities out there in sales and in insurance where you can make money and NET more than the guys at NAA. The truth is all of the talked up 100K and 1MILLION dollar incomes are hard to come by when you have to pay SOOOO much for leads. They act like NAA is the ONLY thing on the planet, I mean come on guys there were millionaires and billionaires before 3 guys and some insurance companies came together and made NAA, if you're an agent, GET OUT, it's not worth it.

[bronco307]

I have never worked for them but from what I have heard it is a pretty shady organization.

[barsky9]

I believe that Reeder posted the exact same message, absolutely verbatim, in another website regarding the NAA. Seems like a copy and paste indicative of some bad blood...Interestingly enough I have a buddy of mine who recently joined the NAA and made $4,000 his first weekend. Admittedly, he does pay for leads, however, as he explained it to me, you can purchase "new leads" for $20 or older leads at a lower price. He said that he paid $5 for his leads. Most of the complaints that I have seen have to do with buying leads. I have been in the P&C industry for 10 years and have always paid for my leads. Whether you have a mailing campaign or an appointment setter you are usually purchasing leads. Unless, you rely solely on picking names out of the phone book, you are spending money on a target market..(Wow, target marketing...interesting, interesting) Now, it would be ridiculous to believe that I am the only person who would approach a perspective client. As a broker, it is also assumed that another broker may represent the same company that I might propose to a perspective client, so this begs the question where is the rub? It has been my experience that there is no single map to the buried treasure; most who believe that are the same people looking for the next get rich quick scheme; spending massive amounts of money on infomercials and then throwing their arms up when they did not become an over-night success. SHOCKING. The other complaint that I see is the pyramid element whereby managers are getting rich over your success...hmm, sounds like every corporation in America. Let's see if you worked for Xerox and your sales team was very successful, doesn't the manager of your team get a bonus, and his manager?? Wow...novel..If you are making money and successful, and you are not paying for the success of your manager, other than your leads and your hard work for which you are compensated, then why do you care? I am perplexed that this is an issue. I have also read complaints about charge-backs, this is when the insured decides to cancel a policy and you must return some or all of the commission paid. This is another common occurrence in the world of insurance. Now, this can be addressed by first, a better product; second, a better sales job up front or third, better service along the way. I am not sure how the company approaches service, so I can't speak to that issue, but charge backs are again part of the industry.
I can only surmise that it is the unsuccessful, or those that don't want to work hard who are complaining the loudest; which is usually the case. Anyway, I am following the progress of my friend closely as I work toward securing my life/health license. But, I thought that I would widen the perspective on the issue since it seems that most of the posts have a narrow view of the opportunity, and frankly some pretty baseless complaints...And no, I don't work for the company since I don't have my life license...