Pros
*Good training environment *Unlimited Income Potential *Improved Personal and Professional Growth *Set your own hours *You MUST be self motivated and disciplined well beyond the average *You MUST be willing to put in an enormous amount of time and effort up front *NYL does have some of the best policy rates and options for clients (even if you have to pursue 3rd party options) *NYL is a good introduction to the industry due to the robust training regiment *If you are able to make it work, there are countless positions and opportunities to grow into
Cons
*100% commission *Complicated Commission Process (Difficult to understand debits/credits and other fees that are constantly cycling through your payment ledger) *Chargebacks occur if policies cancel within 1 year *Continual reasons to "invest" out of pocket for every state license, license renewals, Guaranteed issue life insurance, office rental fee's... alot of expenses that add up over time which can be difficult when your commissions are down... many of which you don't know about when you sign the contract) *Being in negative commission not only means no $ for you, but you will can end up "owing" the company and working sales to get out of the negative... *Getting the average person to commit to purchasing policies can take weeks or months. *Young people are easy to be approved for insurance policies but rarely are interested in the monthly policy cost *Older people are ready to purchase, but rarely get approved without increased policy costs which can cause a sale to be lost after months of working with the client *Market often feels saturated with other agents *You have to pitch sales to friends and family as your "personal market" *It can take a year or longer to earn a "real" income *Don't trust anyone on the "team" and don't overshare... working in 100% commission will absolutely reveal who people truly are in a work environment *You generate 99.9% of your own leads
