Advice for a Newbie Starting in the Industry

[MrExcitement]

Well that is what I intend on selling is health insurance, maybe narrowing my focus to just health insurance alone. However I do want to be signed up with supplemental and life insurance carriers because all the time when I am on the phone people ask for Life Insurance so I want to be able to make an easy sell if the opportunity presents itself. But the bulk of my sales that I expect to make will be off of cold calling and maybe a few internet leads, I fully intend on working them hard and often...I fear no phone and no business owner...

 

[mnmjski]

Do like many of my competitors and P&C agents who decide to dabble in health & life...find a good GA with several carriers and start quoting. You don't need to be appointed, just licensed. An expert health agent will chew you up, but you'll get your fair share. Start by learning one carrier very well like BC/BS.

 

[MrExcitement]

So what would be the advantage of going with a GA right now rather than just going straight with a carrier such as BC/BS? Wont a GA just skim my commission? Would it be better to just cut out the middle man and just go take that classes that are offered by carriers and try to sell from there? I know that there is probably a lot I am missing but maybe someone could fill in all the blanks for me. It would be much appreciated. Thanks!

 

[mnmjski]

So what would be the advantage of going with a GA right now rather than just going straight with a carrier such as BC/BS? Wont a GA just skim my commission? Would it be better to just cut out the middle man and just go take that classes that are offered by carriers and try to sell from there? I know that there is probably a lot I am missing but maybe someone could fill in all the blanks for me. It would be much appreciated. Thanks!

Some carriers wont let you go direct unless you have a lot of business with them and a good GA wont "skim" your commission as they get an override. As a new agent, you can get quotes and service with several different carriers through 1 GA or contact each carrier direct and have multiple sales reps and contacts. Think about it...do you think a company like BC/BS or Humana will really care about a few accounts you write with them? Combining your business with a GA combined with all their business will give you more pull when you have to negotiate that renewal increase.

 

[TMan603]

I'm currently a licensed agent with BCBSF and to be licensed with them it does have to be through a GA.. In addition they take a decent amount off the commission as well.

There are some perks to working with a GA, with mine any how, they provide quality leads, an office to work out of if you need one, and commission annualized.

On getting licensed with other carriers (Humana, Aetna, & UHC), I'm assuming your doing individual health products, you can get directly licensed with them. Individual health is techically a "one time sale" and their rates are set by the states they reside in. Hence you don't need a big book of business to negotiate rates.

 

[kwimberl]

The hours you are talking about should work fine for starting out. Your biggest issue will be figuring out how you will market.

As for the question of direct vs going with a GA: I would recommend going with a reputable GA that will help you get setup with the carriers you need, get advances, and not lose any commission over what you would have gotten going direct. In some cases, the GA will offer some training in addition to the carrier training. MAKE SURE you get an upfront release (prenup).

For FL, you need Humana, Aetna, GR / UHC, and maybe Avalon. BCBS is a difficult (and behind the times) beast in FL for an independent. Some GA's will try and get you to get appointed with Assurant but don't even bother as they are nowhere near competitive in FL.

 

[moonlightandmargaritas]

Seeing a lot of misinformation in this thread about the health insurance landscape here in the Sunshine State...

I'm currently a licensed agent with BCBSF and to be licensed with them it does have to be through a GA.. In addition they take a decent amount off the commission as well.

There are some perks to working with a GA, with mine any how, they provide quality leads, an office to work out of if you need one, and commission annualized.

The "leads" you speak of end up costing you about 3x what it would if you purchased your own...and didn't have to take sh*tty, sub-standard comp from a BCBSFL CGA...

For FL, you need Humana, Aetna, GR / UHC, and maybe Avalon. BCBS is a difficult (and behind the times) beast in FL for an independent. Some GA's will try and get you to get appointed with Assurant but don't even bother as they are nowhere near competitive in FL.

Assurant (like Aetna) is VERY competitive in certain parts of Fla - you've just got to know where they are!

Avalon is having some HUGE problems - best to stay away.

BCBS IFP is not available to independents in Fla (you don't need them anyway). What are you talking about?

 

[joeboy]

Selling between those hours are statistically better for health insurance.

You could pull off "selling" at those hours.
Servicing might be another issue.
Folks don't like to wait real long for you to get back to them on issues so be cognizant of that.

 

[jtwn910]

I"m drowning I need the best company with leads (life insurance) that"s not to expensive South Carolina