Long-term commitments

Article Abstract:

New York Life Insurance Co., New York, remains committed to career agents, despite the growing trend toward greater independence among agents. The company still believes that the career agency system is the best long-term approach, notwithstanding the costs involved in recruitment and retention. New York Life's commitment to the existing system is evident in its formal training program called NYLIC University, which involves training from the time of recruitment and throughout an agent's career. The program also includes a career orientation, a course on market conduct issues, a fundamental career school and a career development conference, among others.

Cover Story, Recruiting, Vocational guidance, New York Life Insurance Co.

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Team approach can hold underwriting costs

Article Abstract:

Life insurance agents can take proactive measures to ensure that underwriting costs are kept to a minimum. Providing a complete package at the start of the process, rather than in piecemeal, reduces the chance of competitive interference and provides the producer with a quicker commission payout. Maintaining close communication with the client can help an agent best determine whether to use an inquiry form or develop a complete package.

Economic aspects, Practice

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