2019...mixed opinions make it hard to choose

Dec 28, 2018

  1. Advisor06
    Offline

    Advisor06 Guru

    Posts:
    316
    Likes Received:
    4
    State:
    Pennsylvania
    So with all of the different options out there it makes it hard to choose and stay with one or two different income options.

    Life Insurance, Annuities, P&C Commercial or Personal, Medicare...etc...the options are endless but confusing. Ever since I have gone independent I have found myself searching for the right avenue to continue with. I need to buckle down for 2019 and would love to hear what has been a success for all of you out there. I spent many years with a captive selling Life and Annuities and went out to P&C but find myself floundering because every account I bring in seems to have no options to get closed.

    The thing I liked most when I was captive is that I did build up a renewal income so I didn't start at zero every year which I was trying to do with P&C. Prospecting has been difficult. Any suggestions are greatly appreciated.
     
  2. DHK
    Offline

    DHK "YOU CAN'T HANDLE THE TRUTH!"

    Posts:
    7,948
    Likes Received:
    1,805
    State:
    California
    https://insurance-forums.com/commun...hought-this-would-be-easier-than-it-is.89107/

    https://insurance-forums.com/commun...ou-think-from-your-personal-experience.92153/

    https://insurance-forums.com/community/threads/searching-for-the-perfect-pill-help-please.80651/

    https://insurance-forums.com/commun...agent-unsure-of-my-options-please-help.81639/

    I'm going to be blunt - and you're not going to like it: You need to learn how to make a decision and stick with it. Focus on ONE area and build your skills and focus there. Put all your eggs in ONE basket... and grow that basket.

    My advice for you: Leave P&C and get back into life & annuity. You were decent with life & annuity, and you're mediocre at best in P&C as it stands right now.

     
    DHK, Dec 28, 2018
    #2
  3. pfg1
    Offline

    pfg1 Guru

    Posts:
    1,382
    Likes Received:
    201
    State:
    Virginia
    Agree, stick with what you know and are good at. You have experience in the life arena, and I assume did ok there. Trying to master too many things and/or running down many rabbit trails will typically lead to struggles, trust me I know.
     
    pfg1, Dec 28, 2018
    #3
  4. Markthebroker
    Offline

    Markthebroker Guru

    Posts:
    749
    Likes Received:
    638
    State:
    California
    Buy a cape and learn to fly.

    Or you can do commercial p&c like I did. It takes a looooooooooooooong time to build up, but boy is it sweet when you get momentum.
     
  5. Advisor06
    Offline

    Advisor06 Guru

    Posts:
    316
    Likes Received:
    4
    State:
    Pennsylvania
    I appreciate your input and the honesty. It sucks to be in the same position and mindset for so long. I have always had a hard time making decisions and I do lean on my past because I was somewhat successful with it but the only reason I was chasing the P&C was because the agency was giving some "float money" for the first couple of years while I build my book and the business would create ongoing income. The downside is that everything I bring in the door they don't or can't write. I find P&C to be much more difficult to get results because of the relationships with current agents. The only good thing is that there are endless lists of business owners where as when I used to write for the captive life company I also had a list but now prospecting is MUCH more difficult.

     
  6. Advisor06
    Offline

    Advisor06 Guru

    Posts:
    316
    Likes Received:
    4
    State:
    Pennsylvania
    This was they way I was trying to go but it seems like everything I worked on fell flat or the agency couldn't or wouldn't work on it.
     
  7. Advisor06
    Offline

    Advisor06 Guru

    Posts:
    316
    Likes Received:
    4
    State:
    Pennsylvania
    YUP I feel stuck in multiple rabbit holes right now. I would love to just stay with Life and Annuities but I want the ongoing income that P&C provides.
     
  8. DHK
    Offline

    DHK "YOU CAN'T HANDLE THE TRUTH!"

    Posts:
    7,948
    Likes Received:
    1,805
    State:
    California
    Fixed that for you. You don't have "ongoing income". You have a salary. Not all income is the same. It spends the same, but that salary has some strings attached.

    And with that salary comes a responsibility to feed the hand that is feeding you. That's why you can't go hunt for life and annuity sales... because your time belongs to the employer that is paying your salary.

    And you're not doing well at it - either because they are tying your hands, or you don't have the skill set.

    That salary... is killing you.

    Get off the salary and do what you know you should be doing. "Double-down" on it. That's what you know you should be doing... but you haven't admitted the truth yet to yourself. Partly because you are probably viewing all your income as the same, but it isn't.
     
    DHK, Dec 29, 2018
    #8
  9. Markthebroker
    Offline

    Markthebroker Guru

    Posts:
    749
    Likes Received:
    638
    State:
    California
    I can understand some deals falling flat when you are starting out, but what do you mean agency couldn't or wouldn't work on it? Weren't you writing the policies yourself?
     
  10. pfg1
    Offline

    pfg1 Guru

    Posts:
    1,382
    Likes Received:
    201
    State:
    Virginia
    "Ongoing income"....I think he was referring to creating residuals once he had his book established.
     
    pfg1, Dec 31, 2018
    #10
Loading...