If you are working under State Farm Agency/Office/Branch?

If you are working under State Farm Agency/Office/Branch?

I just finished up with Accident &- Health &- Life and also have some banking back ground for over 4year as Personal Banker. I am planning to work with State Farm and I need little help &- questions about working for state farm.I am planning to work with one of the state farm agency ( From the research each agency is own &- run independently, Please let me know if I am wrong) I am going in as sales position, so here is some of the questions I have in my mind.1) What is my position called? Just a sales associate, CSR, agent?2) I just recently found out state farm has Banking Side as well, would I able to sell bank product, auto loan &- mortgage as well if I have knowledge? or Do I need to go through some sort of licensing with state farm?3) This is where I am getting most confused. Even though owner of the agency office owner is hiring, it seems like you still have to go through state farm hiring process (which is fine with me), but it seems like If you work for agent office, you are just considered as agent Staff and are you a just a employee of the owner or the agency/office? or are you still considered as state farm employee?4) If I could, I would like to sell everything (insurance, banking product, investments) state farm could offer to a client. would the state farm let you have that opportunities? (I do understand there might be licensing requirements)5) when they say we do pay base (which I am not expecting much since it is sales position, I am just worried at the beginning of my career with state farm to able to cover my basic needs ) what is the avg base am I expecting for sales position?6) Lastly, selling what product has the most compensation in state farm?I been had really tough time since losing my job last year and Thank you guys for reading through long questionnaire. Hope I could get some of those questions answered by who are in insurance industry or who are/has worked for state farm. Thank you once again.

rcdrury

I was in private financial practice for 11 years. Now semi-retired and spending most of my time and energy operating a nonprofit ministry, I'm doing the same thing with a Farmers agent. I can't speak for State Farm, but I'm sure the policies and practices are similar. If you are being offered a base salary, chances are you are an employee of the agent, not State Farm. That is the arrangement I have. You may or may not be an appointed agent with State Farm, but this is probably not a requirement. Be advised that the company will want you to sign a producer agreement, and may even apply some pressure to your employer to have you do so- but for most companies, this IS NOT a requirement. Your employer has the right to do it either way, so it should be between you and him. I would recommend that you not sign any agreement with State Farm unless it offers you benefits, as it could restrict your flexibility and expose you to liability. You would simply produce all business in your employer's name. You would simply be a staff member- all compensation and other issues would be by private agreement.Now, chances are, your State Farm guy is primarily a P&C agent and doesn't know squat about financial products such as life insurance, as my Farmers guy doesn't. Unfortunately, he is also probably too ignorant to realize how ill-informed and unqualified he is. Group I products (life, disability, LTC, etc) are financial instruments and are to be employed from a comprehensive financial planning perspective, rather than "sold" as an insurance product. Insurance agents are typically not qualified to do this. If you're serious about this, you should probably look into a career contract with a genuine financial company (hint: if the company sells auto or homeowners coverage, that's probably not the one).Best wishes.Source(s):Financial planner, 11 yearshttp://www.christianfinancial.vpweb.com

lucy

The previous poster gave you some good advice. I have worked in the insurance industry in all fields for over 30 years, mainly as a claim adjuster or other positions. I am currently out due to the economic situation and doing other work.You have some great questions, that you will need to ask the agent. I have posted to State Farm in the past as a agent since I had (did not keep up my education credits) a P & C license I got and wanted to branch out to the other side. I noticed that on the posting for a agent, they always had you go thu State Farm to be qualified, but that you were in effect working for that particular agent after hired.Most likely, you will need to get your P & C license to work for them, since State Farm is in all aspects of insurance, which is P&C, life, banking, etc. I believe they will pay for you to get the license and may require you to do so, and since you have passed accident and health, will be able to pass the P & C also.Be advised that State Farm and Allstate are exclusive agents, which means they can only sell for the company they work for. You might consider branching out to a agency that sells for many companies and is not exclusive agents. But with the economy as it is, might be best to go with State Farm for a year, then with your experience, will have other companies vying for you, since then you can state that you sold so much of this and want to branch out.Remember, there are 10 candidates vs 1 in the past due to the economy, so find out if this is what you might want to do or not.good luck

car253

You will only be the Agent's staff. You will work for the agent and not State Farm.You still have to pass State Farm's qualifications to be able to work for the agent. Remember, the agent and NOT State Farm will be your employer.

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