FAQs About State Farm Agency Opportunity

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FAQs About State Farm Agency Opportunity

  1. 1. Q&A – State Farm Agency Recruiting 1. Do I need any previous insurance experience to become a State Farm agent? No. You do not need prior insurance background experience or even a 4-year degree. What we are looking for are competencies – integrity, customer focus, entrepreneurial spirit, leadership, passion, and adaptability. We currently have agents that have transferred careers from doctors, teachers, lawyers, etc. and have gone on to become successful State Farm Agents. 2. When do I start getting paid? Once you have been selected for an agency opportunity and start a paid, employee benefits internship. Your internship is typically 6-9 months long. 3. What do I have to do to get started in the process? We would need to get your contact information and pass that along to a recruiter who lives in your area so that they could meet with you (or call you) at a time that is convenient for you. They would discuss the benefits of becoming an agent in detail and explain the first step of becoming a State Farm Agent. 4. What makes State Farm the best pick over all the other insurance and financial industries out there? Well, for #1 – State Farm in one of the ten most recognized brands in the U.S. and consistently in the top 35 on the Fortune 500 list. We are in the top 1% of all banks, and in today’s economy that is an amazing accomplishment. 5. Do I have to quit my job while I pursue the Agency Opportunity? No. As a matter of fact, you will only need a couple days off to attend a workshop, approved candidate interview, and then the interview at the location you wish to become a State Farm Agent. 6. What is the success rate of new agents? Agent retention rates can be measured many different ways. However you look at it, State Farm has one of the highest new agent retention rates in the industry. As of December 31, 2008, almost 84 percent of agents appointed since January 2001 were still agents or in agency leadership. Page 1 of 2
  2. 2. 7. Does the company provide support – financially or otherwise? Upon appointment as a Term Independent Contractor Agent (TICA), you will receive a generous signing bonus; then an additional bonus at the beginning of your second year. As an independent contractor agent, you are responsible for business expenses. State Farm provides significant support to help manage those expenses: Office furniture and equipment are offered at a low monthly price, and tools for doing business (computers, peripherals, phones, etc.) are offered at no or reduced cost. We also offer low interest loans to assist with start-up costs. State Farm is committed to your success. As a new agent, you will enjoy close contact with dedicated associates who are on hand to help and support you every step of the way. You will also have expert products and service support to consult with throughout your agent career. 8. How long does the process to become an agent take? The timeframe to complete the entire process varies based on zone schedules, needs, resources and timing. Ultimately, once an acceptable score is obtained on the Sales & Leadership Career Profile assessment, the timing is dictated by how quickly you provide the necessary Review Team documentation, schedule of Career Understanding seminar and subsequent required activities in your zone. Once approved candidate status is obtained, you can compete for any opportunity that meets your preferences. 9. Do I need Insurance Producer Licenses before I can be hired? No, you do not need to have your licenses to compete for an Agent Opportunity. Licensing is a required part of the Internship process that takes place after you have been selected for a specific location or market area. 10. Does State Farm pay for my licenses? Yes, State Farm will pay for your licenses during Internship. Page 2 of 2

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