To anyone looking into employment with KLIC
, I warn you read this first
I became an employee of KLIC Last year and for the first month it was great! My manager seemed to be a bit of a crisis junkie and KLIC has a massive amount of buttkissers floating around, aside from this all the first month was great. Typically a new agent comes into the office at 8:00 AM and does whatever paperwork is needed, and then the agent leaves the office to go sell policies and do collections. This is where the job became troublesome. As a KLIC agent you are required to make forty sales calls a week, this is just cold calling someone and pitching overpriced life insurance at them. Also you are told to go door to door and cold call on people at their homes, I never once sold a policy this way!
People don't want some stranger knocking on their door and asking and trying to convince them to buy something, I've had more than one door slammed in my face. This brings me to the collections. Every agent is given an agency book which contains every policy under the said agent. KLIC is a debit
company which means that the agents are required to collect their customers premiums every month. About 98% of my book was located in two cities that are about thirty minutes away from where I live. I was required to make daily trips to these cities and make collections. When you do these collections you are liable for a lot
of money, and these people will
try to hassle you. I've been accused of stealing money numerous times. KLIC does business mostly with the lowest financial bracket so the areas the agent is required to service are not very comfortable to be in. I once was hassled and harassed by a "thug" who was high and knew
I was collecting money, he knew I had a lot of cash on me. Daily collections becomes a problem when the customer wants to constantly reschedule collection times. Example: I would drive 45 minutes to someone's home to collect their premium only to find that they had spent their money, they would ask me to come back at a later date to collect and the same issue would occur. My gas bill skyrocketed and by that I mean went up to about 750.00 a month, which KLIC will not reimburse to the agent!
The hidden costs associated with this "job" would've been a deal breaker for me had I known about them beforehand, hopefully this report will help somebody out there! Hidden costs to the agent include but are not limited to:
- Gas (depends, mine was 500-750.00)
- Business cards ----27.00
- Name tags---------6.00
- Business mailings*77.42/Mo
- Customer Lapses * 150-1100.00
The agent is required to pay for postage to mail out premium notices twice a month, the cost will vary depending on the size of the agency book. Customer Lapses-
Whenever a customer doesn't pay their premium two months in a row their insurance will lapse and the agent is required to pay the tab. Example: I sold a lady and insurance policy for 77.00/Mo but when the underwriting dept. Got a hold of it the raised the price to 130.00/Mo, of course she wasn't going to pay that! so she lapsed her coverage and left me with a 260.00 bill. This type of incident happens on a regular basis at KLIC so customer lapses that are charged to the agent will vary, my last lapse bill was 1100.00.
The hidden costs as shown total 1960.42. This is the cost that I was billed, my last month.
Now this is a big deal because, well it's just wrong but also because during the three month probationary period the agent can only make 2000.00!!
Which is paid to the agent in the form of a 6000.00 loan that KLIC provides!!
During the hiring process they will mention the loan and say that it is payroll deductable and that it shield you from lapses during the first three months and that whatever money that you would've made from commissions or collections will instead of being paid to you, go into a "sales pool" which will protect you from future lapses and such. It sounds like and Ok idea. Sounds. They don't mention that they slap on a hefty 8% interest rate.
I was fired from KLIC because of a network error that prevented me from printing my collection deposit sheets, and since somebody had stolen 600.00 from our office everyone was on edge and my crisis junkie manager pinned me because I didn't have solid proof of my deposits. I did however, I unable to print hard copies had saved triples of EVERY FORM
on my pc, jump drive, and e-mails. My manager had reported me to the District manager before I could prove my innocence. I was called into his office and told I was being terminated, I showed the man my files and he was so surprised he was speechless. He still terminated me though, to save face with the big boys. He asked me to sign a form stating that I had quit and I refused. I was asked to leave the offices.
Two months later I received a letter stating that I was expected to come up with 2338.28 immediately or legal action would be taken against me. I was furious because my sales and service pool had more than enough left in it the cover the 6000.00 loan, but when I pressed the issue somehow the records had magically vanished? So all in all, I'm paying the company for this "loan" that I didn't ask for. KLIC is a legitimate company and you can make great money there, and have a good, long career. Just heed my warnings and do not be taken by surprise.