Liberty National is a "trainwreck"
Their creed is the following and appears in there literature
Since its organization in 1900 "The Guiding principle of Liberty National Life Insurance Company has been to achieve sucess by deserving it, to protect its policyholders with a fair unselfish contract and to serve them faithfully,adequately,honestly and economically"
"Every decision considered at Liberty National must benefit the customer,the agent and the commpany."
Each is equal in importance,and if any one of them is missing we simply won't do it
IF YOU ARE CONSIDERING JOINING LIBERTY, DO NOT BELIEVE this propaganda for a minute.Check the history of this company withs regards to its cancer exchange program lawsuits.This company will also allow you to pay more into a policy than you can recieve.
I personaly have seen 2 policies recently where the insureds had paid in two times what the beneficiarys are going to recieve.
The company cares about one thing and one thing only and that is maximizing the earnings for the shareholders and the analyst.
Liberty is a 100 year old company and its management team has hundreds of combined years of expeirence.
You have to ask yourself how did the company lose 30% of their agents in 2004 and 50% in 2009
Ask the person interviewing you to show you a copy of the recent AM Best report
If you really want to see how Liberty is performing you can read about them in the annual reports which are on line.The comments from the President are a "broken record" of comments ."We are turning the corner at Liberty or I am optimistic that the next quarter will be better"
How is that this company with all of its changes and management leadership in the past 10 years has not made the company grow.In fact since 1998 inforce life premium has declined.Compare this record to their competitors.
Branch managers recruited 60,000 applicants last year and less than 300 agents will make it past their 1st anniversary.(Mgrs are required to recruit 10 prospective agents per week.Multiply this times 160 offices at 40 weeks a year)
The company promotes their agent position as an "Opportunity of a Lifetime"
If this was such an opportunity why are agents and managers leaving as fast as they come in ?
Branch and Unit Managers and former managers owe hundreds of thousands of dollars to the company due to lapsed policies which are a result of wholsale recruiting, poor training and mediocre products and ineffective leadership in the home office.
Thes managers are paid for the most part on newer agents ( less than 6 months in the business).If you can make it for 6 months the manager neither cares nor can afford to help becasue his # 1 job is to recruit and not manage
In fact he would he or she would prefer to see you leave and then the manager could give your accounts to a newer agent.
Liberty's niche is worksite and the middle income market.
Their focus is to specialize in writing insurance of $ 50,000 or less.In my opinion they have no regard for the well being of customers family, otherwise they would encourge agents to write more insurance and not penalize them when they do
Yes that is true, Liberty pays less commssion when you write bigger/larger face amount policies.
The true purpose of life insurance is to replace the economic value of the person
Liberty's agent for the most part are nothing more than "policy peddlers".
Before going to work for this company Do You Homework
Check the AM Best Report and other internet website comments
Ask the person or manager recruiting you the following
How many agents have you trained that are still in the business ?
The answer will shock you
Don't believe all of the hype
Only 200-300 agents are making any enough money.
Ask for the weekly bulletin and get the manager to explain in detail what it is and means.
In the last 3 years mgt has changed the compensation plan 7 times
Does this sound like a company that has it act together
Thank You Rip Off Report for allowing me to write this
The insurance business is a good career but this company, well let me just say this
Their record speaks for itself
No growth in the past 10 years
Lose 30 % of their agents in 2004 and then 50% in 2009
Agent Who Can't Afford To Retire Yet
Birmingham Alabama