21 Year Mortgage Vet Now Licensed LAH in SC

[Johnnyboy29073]

I'd be grateful for feed back on how to go about being an independent LAH agent for a company, and also feedback on some of the folks I've spoken to already.

My reputation in my own industry is impeccable and I have a full book of clients to market with Mortgage Life, to start, but with all the legislative change both pending and already enacted, I am, candidly, burned out and seeking a change.

What I've discovered, to no surprise, thus far is the insurance industry is rife with some of the same issues the mortgage industry is in, what with ethics largely lacking and management techniques crude and deceptive.

That being said, I need some help on how to get setup with a company I can sell Life and MedSupps for on an indy basis, and also I'd like feedback on the following:

Liberty National----local agent seems legit but their reputation here is not exactly stellar, their quality appears to vary from venue to venue

Physicians Mutual----seems top of the line in Med Supps and Life and Annuities

Shoreline Financial in Connecticut----a brokerage with an attractive methodology but they aren't the most responsive folks in the world----their setup is ideal for me but I worry about support issues.

All that acknowledged, I'd prefer an indy route, but how to go about it with no experience and just licensed?


I would also like to state I am an expert in the area of morgage marketing, so maybe someone will see the parallels.

Thank you in advance for your responses.

 

[xrac]

This is a question that dozens on here have posted trying to find the answer to. There are no absolute answers. It depends upon how much training one needs, what marke you are working, and the strength of companies agencies in that market. Most of us can tell you better the companies to avoid.

 

[HarryRenard]

I think you might want to check out the ILAA you can find the link on here, They will be able to give you support, training and info on competitive life companys to offer.

For med supps I would talk to frank stastny he will go over the good the bad and the ugly [email protected]

 

[souldeux]

I think you might want to check out the ILAA you can find the link on here, They will be able to give you support, training and info on competitive life companys to offer.

For med supps I would talk to frank stastny he will go over the good the bad and the ugly [email protected]

Thanks for the kind words - we would indeed be happy to help. If you're a veteran of the mortgage market then you've got more applicable experience than you probably give yourself credit for; just knowing how to sell, especially how to sell an intangible, is a big plus in this market. It won't get you all the way, but it'll give you a leg up.

I don't know why anyone would go captive in this day and age - the income potential is greater as an independent agent and you get to own your own business. The major "drawback," if you can call it that, is that you're the only one responsible for making sure you're busting your ass hard enough to make it.

Whatever you do, don't let someone "sell you the dream" - making six figures in your first year without breaking a sweat. Sure, you can break $100k your first year, but you've REALLY got to work at it. It sounds like you've got a good foundation, and I can't imagine someone being in the mortgage business for 21 years without a work ethic, so you could find success here.

Check out the video linked in my signature - it's all about getting off of the ground in the early going as an independent agent. Some of it won't be interesting to you (it sounds like you have a jumping-off point for marketing already, for instance), but you'll find the parts about terminology and licensing helpful. Give me a call if you need clarification on anything you see.

 

[briko3]

What part of SC are you in?

 

[Johnnyboy29073]

What part of SC are you in?

Lexington SC

 

[shortcut]

I'm out of the Upstate about an hour away from you. I have three agents that work with me in Greenwood, Greenville, and Spartanburg (but they are all independent). If we can be of any help to you shoot me an email...

[email protected]

 

[Johnnyboy29073]

I'd like to thank everyone who responded.

I've decided to go with Physicians Mutual in Irmo, SC.

They seem upright and professional, in complete contrast to some of the yokels I spoke to along the way. Honestly, how some of the folks I talk to would expect ANYONE to work for them with their coarse, used-car schtick is beyond me.

Thanks to all who responded on and off the forum.

 

[AtlantaLife&Health]

How are they as far as pricing? I have real estate and mortgage experience. It's a different game in insurance. With real estate, folks want to see you working with one of the big name companies that are known in your area. In this business you need to be able to provide a solution for folks. I think you'd do well representing many companies. I don't know much about Physician's Mutual but hopefully they have products for people with health issues. I can probably guarantee you that they are not the most competitive price wise.So for clients that shop around for price, you're fighting an uphill battle. Then you have other clients who buy based on benefits, you'll do fine with them as long as they don't shop around. I hope you spoke with Nick and Frank. The money you're about to make could probably be almost doubled if you spoke to them guys. There's a learning curve in this field. You'll find out as time goes on. Check back with these guys as time passes to get unbiased guidance. Your manager's opinion will be diluted with bias. I hope you don't burn through all of your past clients and they end up being on the company's books if you decide to leave someday.