Are you thinking of starting a career selling insurance with Liberty National Agent Career?
Perhaps you’ve scheduled an interview or already had one, and now you’re interested in finding out more about the Liberty National Agent Career.
Even if you haven’t taken your insurance license test yet, if this describes your situation, keep reading!
Today, my job is to answer your questions in this Liberty National Agent Career Review in a fair and balanced analysis.
PS: Check out my insurance sales jobs reviews of other agencies for more information.
NOTE: Are you an aspiring or new insurance agent looking for more insight into how the insurance sales industry works? Check out my Free Insurance Agent Resource Guide [NEW] to help answer many of your questions (as well as ones you didn’t know you had!).
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Globe Life Liberty National Division, formerly known as Liberty National, is a wholly-owned subsidiary of Global Life insurance company. The company was originally founded as a fraternal organization Heralds of Liberty in Birmingham, Alabama, in 1900.
Over the years, Liberty National has become one of the nation’s most prominent insurance companies. It is a major provider of individual life and supplemental health insurance products that focuses on offering local, one-on-one service to their policyholders.
In 2012, Liberty National launched a long-term humanitarian project called Closer to the Heart. The project makes financial and service contributions to programs that provide hands-on assistance in the local communities.
The company is headquartered in McKinney, Texas, and has offices nationwide.
Liberty National offers affordable life and supplemental health insurance to middle-income Americans through in-home and workplace sales.
Liberty National life insurance products include:
- Whole life insurance that remains in force for the policyholder’s whole life and guarantees cash value accumulation.
- Term life insurance that provides coverage at a fixed rate of payments limited to 10, 15, 20, 25, and 30-year terms.
- Accident insurance consists of two accident policies: Accident Protector Max to cover losses linked to a covered accident and accidental death insurance.
The agency has individual, single parent, and family policies, in addition to a number of introductory offers such as the Child Safe Kit, MedFacts Kit, and the Memorial Guide.
The company website doesn’t provide any information on how its agents find prospects.
However, if you are a new agent working for Liberty National, you will most likely have to start by cold calling for prospects or work with friends and family for referrals and sales opportunities.
It’s up to every individual agent to increase their pay portfolio. If sales are high, management will usually provide leads as compensation for your work.
Like many insurance agencies, Liberty National doesn’t publish the commissions for agents on its website.
As an independent insurance agent, you will most probably be paid a small salary with a commission and a possible bonus. Your performance will determine how much money you make and how far you take your career.
The company offers various incentives and residual incomes. In other words, every time you make a sale, a percentage of the premium paid on the policy each month is credited to you.
Besides, Liberty National invests heavily in agent training. It provides both on-the-job training and Leadership Academies at their home office in McKinney, Texas. These seminars, hosted several times per year, teach agents how to lead and strengthen a successful agency.
Liberty National is not a scam. It is a legitimate company with a 120-year history and excellent financial ratings. It holds a superior A+ rating with BBB, an A+ rating for Insurer Financial Strength Rating from Fitch.
Moreover, Liberty National has earned the A+ financial strength rating from A.M. Best Company for 40 consecutive years.
They are also a Fortune 1000 Company and S&P 500 Company.
Liberty National is not a multi-level marketing (MLM) business opportunity or pyramid scheme. The company doesn’t have multiple layers of agents, mentors, and trainers and is not suitable for agents who are primarily looking to recruit.
Now that you know more about how Liberty National works, I’d like to offer my perspective as an Insurance Agency owner nationally since 2013.
Captive Versus Independent
First, Liberty National is a fantastic company and does serve its clients well. For agents, however, you have to understand that working with Liberty National means being a “captive agent.”
A captive agent is an agent who only works with one insurance carrier. Why is this a big deal? Because when you only have one option for coverage, that severely limits your ability to write business on a client, especially regarding underwriting flexibility, price, and quality of cover.
That’s why at the Duford Insurance Group, we teach agents to be independent. An independent agent isn’t “married” to one company. Instead, they have access to all the major carriers available in the particular product market they specialize in.
For instance, at Duford Insurance Group, we specialize in final expense and Medicare. Plus, agents who work with us selling either product don’t just have one insurance carrier to work with.
Instead, they start with four to five different options, which gives them flexibility in underwriting and pricing, allowing them to match the perfect product to the client (as much as possible).
The main benefits of this are listed below:
- My agents are more likely to write a policy that’s competitively priced with far better underwriting terms.
- This results in happier clients and more of my agents making consistent sales than if they’d been captive.
- Plus, there’s far less chance another agent will be able to replace your policy several months down the line.
Besides having to familiarize yourself with multiple carriers, there are virtually zero downsides to being an independent agent vs. captive.
At the Duford Insurance Group, we honestly believe captive agents are the ones who are penalized in terms of their ability to write business.
In fact, we’ve recruited captive agents in the past, shown them how to sell successfully, and many times they become some of the most successful independent agents around. This is simply because they now have more freedom than they had prior to being married to one company.
My point here is that if you’re considering joining Liberty National, you need to understand that you’re going to be severely limited in your ability to write business no matter what the circumstances are.
Sure, you’ll be able to help a lot of people, and that’s good. But there will be times when you’re unable to offer a good deal for your prospects for several reasons (mostly because of health, underwriting, budget, etc.).
You may find that if you had access to more carriers, you could have easily made the sale, but you didn’t because you only represent Liberty National.
I hope you enjoyed this article on how a career selling insurance with Liberty National works. My goal is to give you some pointers to think about to help you understand whether this is a good opportunity for you or not.
If you’d like to find out more about how my agency—Duford Insurance Group—works, there’s more information on my FAQ page.
Also, feel free to check out my new Free Insurance Agent Resource Guide for more information and advice about the insurance sales business that many are simply in the dark about.