So if you’re reading this Freedom Equity Group Review, you’re probably thinking about becoming a member and are doing your research online. If that’s the case, look no further. In this third-party article, I’ll give you all the essential details you need before joining. Now real quick… I would like to disclose that I am NOT a member of, nor affiliated with, the Freedom Equity Group in any way. In fact, it doesn’t matter to me whether you decide to join or not. This is important to you because you know you’re getting at least an unbiased perspective of the company. With that said, let’s begin…
First, let’s talk about the company itself. In my opinion, great products and a lucrative compensation plan come second to a solid company with a stable infrastructure that can handle future growth. The company was founded in 2002, so it’s not a start-up company, which is good if you’re looking for a company that’s a bit more stable. The management team is very experienced and their field leaders seem very professional. The company is based in California and works with some very reputable companies such as Fidelity & Guaranty and National Western Life. My suggestion is if you are dead serious about joining and building a long term business with them, take the time to visit their corporate headquarters in Arroyo Grande. Sure, you’ll pay for travel out of pocket, but if you’re really doing due diligence, meeting with people working from home just makes sense. Of course, if your goal is just to make a few bucks here and there, you probably don’t need to take the time to visit the home office. But if you want to build a long-term business that can make you 6-figures (or multiple 6-figures) a year, then it’s worth it. Speaking from experience I wish I had done this before joining some companies. That would have saved me a lot of time and frustration.
Freedom Equity Group’s primary product is Index Universal Life Insurance, or IUL. It is a form of permanent coverage, unlike term life insurance, which is only insured for a set period of time. In addition to life insurance, IUL also offers a savings vehicle that allows you to accumulate and grow your money tax-free. And as if that weren’t enough, the policies they sell also offer Living Benefits, which allow you to use your coverage without dying. Everyone needs to be educated on these essential financial services so that you have a huge market to promote your product in should you decide to join.
As far as the compensation plan goes, it’s pretty simple. Based on your earned position, you earn up to 93% of the annual premium of all your private clients. For example, if you have a client who pays $250/month, you earn a percentage of the annual premium, which in this example is $3,000. Let’s say you’re a District Manager (that’s the third position in the compensation plan), you earn 50% of the annual bonus, which is $1,500. Not bad for a customer at all. Keep in mind that you will most likely receive 75% of your commission up front and 25% of that later. And you get paid after the client is approved, which can take 30-90 days depending on the underwriting process. Despite this, you still earn a very healthy commission while providing essential financial services to people who need help.
If you decide to build and grow a team, you can also earn up to 63% overrides on sales made by sales reps on your team. Sounds good? That’s because you can make hundreds (and even thousands) of dollars when someone on your team closes a sale. The “disadvantage” (for lack of a better term as it may not be a disadvantage at all depending on how you look at it) is that to get 3 or 4 licenses you need to recruit about 10 people and about 1 of them will be active and producing. Of course, if you can find a way to recruit licensed agents who are already joining with a license, then you could probably beat those numbers.
In addition to personal and override commissions, you’ll also earn renewal income, generational overrides as you build other leaders, and you might also qualify to make money across the business through bonus pools that you can participate in. Overall, there’s certainly a lot of money you could make if you build your business a certain way and you’re okay with how life insurance companies pay commissions.
So Freedom Equity Group is a good company. The short answer is YES. The company exists and the management team is solid. should you join Only you could answer that. If you are looking for a more professional marketing service and you like the idea of sitting down with people and helping them solve their financial problems, then FEG may be the company for you.
Here are my three suggestions before you join. First, take the time to study the company’s system for building the business so that you align with the company culture. For example, if the entire corporate culture revolves around at-home appointments and you want to integrate online webinars and conference calls, conflicts can arise. Second, find a sponsor and a team that has a system that you can use to build your business. For example, ask about the document or training that exists to license unlicensed people. Do they even have a system? Or are they just leaving the brand new representative to get themselves licensed? And last but not least, I recommend using Attraction Marketing to generate a steady stream of quality leads. Sure, you could tap into your warm market, but imagine how big your team can grow when you have 20+ targeted leads in your inbox every day. If you could apply these three things, there’s no telling how successful your FEG business could be.