Do you want to learn more about starting a career selling insurance with Guardian Life Insurance?
If you are trying to decide if working with Guardian Life Insurance as an insurance agent is a good idea, you’ve found the right article.
Let’s jump right in!
Quick Navigation Article Links
The Guardian Life Insurance Company was founded in New York in 1860 by Hugo Wesendonck, a German civil rights lawyer.
He opened the company under the name Germania Life Insurance on Wall Street with start-up funds from the community of German refugees. His aim was to offer coverage to the growing number of German immigrants in America.
Over the years, Guardian has become one of the largest mutual life insurance companies in the United States.
It is still headquartered in NYC and serves all 50 states and the District of Columbia. The company has around 8,000 employees.
Insurance products offered
Guardian offers a wide range of insurance products and services, such as:
- disability income insurance
- dental and vision insurance
- life insurance
Besides, they sell survivorship life insurance, which is very rarely sold by other companies and provides coverage for two people on one policy.
Guardian offers whole life insurance with lifetime protection and additional cash value, universal life insurance, and term life insurance.
Customers with a term life policy may convert it to whole life or universal life policy before the term’s expiration. Because Guardian is a mutual company, customers with whole life insurance policies are eligible to receive dividends.
Although Guardian provides an online price calculator and a quote tool, its life insurance policies can’t be purchased online.
Instead, the company matches customers with an agent in their area after they have submitted a form through their website.
Guardian’s agents receive all the support they need to advance their careers, including mentorship and paid training.
The company focuses on technical innovation and frequently organizes conferences, hackathons, and innovation exhibitions.
It is praised for its excellent communication, inclusive culture, extensive agent benefits, and multiple growth opportunities.
The company doesn’t disclose how its insurance agents generate leads. Most likely, if you are a new agent, you will have to start by cold calling for prospects or work with friends and family for sales opportunities.
If your sales are high, management may provide leads as compensation for your work.
Selling at Guardian is exclusively commission-based and multiple commission options can generate more revenue for agents and their companies.
However, just like most insurance companies, Guardian doesn’t publish any details of its commissions.
Guardian is not a scam. It’s a multi-line insurance group with many years of experience in the industry and a superior A+ rating with BBB.
Guardian is on the Fortune 500 list of largest United States corporations by revenue. It also has a high employee satisfaction rate.
Guardian is not a multi-level marketing (MLM) business opportunity or pyramid scheme. In other words, it doesn’t have multiple layers of agents, mentors, and trainers.
It is, therefore, not suitable for agents who are primarily looking to recruit.
Now that you know a little more about how Guardian Life Insurance works, allow me to provide my perspective on the matter as an experienced agent who’s sold life insurance since 2011.
The Woes of a One Carrier Agent
Well, Guardian is an excellent company, but one of the issues you’ll run into as an agent is a limited number of product options.
You see, as an agent working for Guardian Life Insurance, you can only sell Guardian Life Insurance products. And while the product line-up is great, it’s not always the best option for all of your clients.
For instance, there could easily be other products available that are better in terms of coverage, value, and price.
While you may have built a good relationship with your prospect, it’s highly likely that you’ll lose that client the moment another agent comes along with a more competitively priced offer.
Possible challenges representing one carrier
This is a fundamental problem for most agents who sell under one company. They simply do not have the necessary resources available to compete against other carriers in pricing and underwriting flexibility.
What does this mean for you? Well, fewer presentations being converted into sales for a start.
What are your alternatives? You can opt to go into insurance sales as an independent agent.
An independent agent has access to a multitude of carriers. More options in the insurance sales world typically results in a higher conversion rate and increased profitability (not to mention happier clients as well)!
I hope you enjoyed this article and now understand a little more about how an insurance sales career with Guardian Life Insurance works.
If you’d like more information about how my organization works, click the link here.