Compensation that keeps on coming.
Typically in a sales-related profession you get paid just once, but with the sale of most insurance products you get paid again and again. We call this the ’Renewal Effect’ because each and every time a policy renews, you earn a commission! As more and more policies renew, and your Agency income base expands, your security grows along with your commissions. What other sales business is there where you can get paid for something you sold 20 years ago?
Building your nest egg.
Another huge benefit for Farmers Agency-owners is the development of substantial monetary equity known as Contract Value – which allows you to build equity in your own business. When you retire your contract with Farmers Insurance, you can collect your Contract Value as payment for the policies in your Agency. Many Agents use their Contract Value as a retirement nest egg. It can also be used as collateral for personal loans from the Farmers Insurance Group Credit Union.
A family business.
A final option all Agents enjoy is the opportunity to pass their agency on to an immediate family member. Some restrictions apply, but it is possible to have a true “family business” and the capability of becoming a multi-generational agency.
Subsidy for Success:
Upon completion of the initial Reserve Agent training and you are appointed as a Career Agent, you will be eligible for a 36-month business loan or “subsidy” designed to help hard working agents grow. But this no ordinary loan because the stronger you perform, the less you actually have to payback and many of our agents eliminate the entire amount given to them. Simply stated, the better you perform in building your business, the more subsidy you’ll be granted. Subsidy is always paid in addition to all commissions, and can add substantially to your monthly income.
After six months on the Career Program, your subsidy may increase substantially based on your initial performance. Additional amounts of subsidy can be earned to help pay for your first staff member, opening a new office and buying sales leads. At the end of three years, you have the potential to have earned over $84,000 through this subsidy program alone. Of course, most of your revenue will come from the commissions which are paid in addition to this amount.
Click here to submit your resume and take the first step on your path to independent financial success.