Monumental Life Reviews

Current Employee – been working at Monumental Life

Pros – Agents service an existing customer base (renewals are paid as base salary). It is relatively easy to earn a promotion - there is a lack of competent sales managers and/or district managers. Openings are frequent at the sales manager level. Easy-to-do job: the agents are selling policies to an unsophisticated, uneducated clientele for their own, immediate financial gain.

Cons – Pressure for results at any cost. Lack of respect for the agents. Agents have to collect premiums in dangerous areas. Charges for lapses on policies written many years ago. Unethical behavior is sometimes tolerated.

Advice to Senior Management – Promote competent, energetic, educated, and motivated employees. Get rid off the "experienced", unprofessional, and forceful managers. Respect people!

Former Employee – worked at Monumental Life

Pros – Benefits, good rapport with our office. The history of the company.

Cons – The company, like many others is changing, and with the changes comes insecurity about jobs. It's trying to be a leaner company, with a larger volume of sales which is quickly taking it away from the incredible and personal customer service that made it both a great company to work for and to do business with. From there is going into a generic 1-800 number type insurance company, that while still providing a great insurance product is very cookie-cutter.

Advice to Senior Management – Do you want a large gross margin of profit and an excellent reputation that took 100 years to build or do you want to be AIG?

Yes, I would recommend this company to a friend

Former Employee – worked at Monumental Life full-time for less than a year

Pros – Salary and benefits. Not paid to be in the office so you don't have someone looking after you every minute of the day.

Cons – Salary is for the first seven paychecks. After that commission only. Poor management. A lot of turnover among Career Agents.

No, I would not recommend this company to a friend

Current Employee – been working at Monumental Life

Pros – Decent introductory pay for first 15 weeks, good benefits and training. Learned a great deal about service and sales of life insurance.

Cons – False promises from manager during interview.Too much driving and service work cuts into sales time, managers not seeing eye to eye, if you sell a policy and it lapses within 6 months, they take away all of your commission from the sale. Commissions cut 21% on Transamerica products shortly after I was hired. Compensation plan is complicated. Your commissions go into a pool and you are paid 15% of the pool every 2 weeks. If you are there long enough it maxes out at 22% of pool every 2 weeks. Yes you do get a book of business, but most of those clients don't want anymore insurance. Clients in book of business are too far from home. I couldn't afford the gas to work this position. Company doesn't do anything to get you leads for new business. Company was in a transition from Monumental to Transamerica which made it a mess. No sense of direction by management. After I was hired my clients informed me about all of the agents before me.

Advice to Senior Management – Have a lead program for agents to get new business and quit relying on the book. Get a new compensation plan that pays advance commissions so agents can make enough to get by while they are building there business. Also consider paying a fuel allowance if you are going to have the logistics screwed up on these books of businesses.

No, I would not recommend this company to a friend

Former Employee – worked at Monumental Life

Pros – Good work atmosphere and great benefits. They gave great incentives to start, and a great starting salary for the first 4 months. They also give you a book of business to work, which also pays you a base commission. Company incentives are great and the trips each year are top notch for the top sales people.

Cons – Management tolerated unethical business practices. Training program was poor. Very unorganized process for starting new agents. Alot of running around and collecting premiums from people who could very well mail it in. There was alot of "fixing" problems instead of selling insurance.

Advice to Senior Management – Don't tolerate gray areas. There is no excuse for not being 100% honest and conducting business in the best interest of the customer.

No, I would not recommend this company to a friend

Current Employee – been working at Monumental Life

Pros – Good benefits and training, great opportunity for advancement. Reasonable pricing and returns on products. Decent guarantee for six months before rolling off to commission.

Cons – Products are focused on mid to lower class of citizens. Travel and economy crushes opportunity to financially secure a family and develop new business. Long exhausting hours and better off working a 10 to 15 dollar an hour job. Heavy, heavy turnover. The internet ability to purchase life, health and annuity has crippled this company.

Advice to Senior Management – Minimize agents and reimburse those for travel. Try to obtain what little business out there that will be replaced soon.

No, I would not recommend this company to a friend

Current Employee – been working at Monumental Life

Pros – The pay is good, management team is great to work with. Good incentive programs, great working enviornment, and praise given freely for a job well done

Cons – Health Insurance program could be better, and the new contract currently being implemented needs to be tweeked as it still has room for improvement.

Advice to Senior Management – keep doing what you are doing, you folks have a way of letting your agents know that you appreciate them, which is a plus in this industry, I have been in this industry 14 yrs and find this to be one of the better companies to work for.

Yes, I would recommend this company to a friend

Current Employee – been working at Monumental Life

Pros – can make good money if you are a hard worker and care about the job.

Cons – . very loose training for new agents. not enough knowing when there is a cotract change from managment team the collections are out of control.

Advice to Senior Management – streamline managment to manage same way in each office district etc, make district,rvp,sales manager more accountable maybe with a fixed pay so managment can concentrate more on recruiting and less on dead weight agents if they were getting a fixed pay i beleive they would work harder because of what was at stake right now you can make more as a senior agent with less work areas are to big and far.

Yes, I would recommend this company to a friend

Current Employee – been working at Monumental Life

Pros – Benefits, get a foot in the door of the insurance industry

Cons – Collections, large number or clients without checking accounts so they pay by cash or money order. Lots of paperwork and chasing payments when you should be selling insurance.

Advice to Senior Management – Stop micro-managing staff. Focus on prospecting and the development of sales skills and not collection techniques. Needs more communication of goals, initiatives directly from Home Office to agents so that we don't have to rely on office/sales manager for all information about where the company is headed. Need to use technology more for communication with field staff. Need more help generating new sales leads or a channel to purchase leads/appointments.

No, I would not recommend this company to a friend