Insurinator
New Member
- 12
"I am a 25 year old who was proposed an idea from my brother in law who sells insurance. I just moved back home and am planning on taking some prereqs to pursue a Master's in Engineering but in the meantime I need some money.
I was told I can pursue this process of becoming a state farm agent for good fast money. Assuming I get accepted into the agency, I'd go through the 9 month process of learning about the field. This would give me the money I need and I think it could be good to learn what they're teaching (I love learning about everything and have very little knowledge in insurance and sales, so why not). Then when the training is done, my brother in law would be able to work out the one year contract part of the deal as an employee. I would work with him somewhat but he feels able to meet their goals and achieve the bonuses that they offer. Then when the year is over I'd stop working and am told I can sell my agency back to State Farm. Sounded like a great plan, but this forum scared me into not thinking their deal is so easy.
I'm wondering a couple of things:
1. Is their training a worthwhile thing for someone not so sure if they're going into insurance sales for life?
2. Does this whole idea sound possible?
3. During the 1 year as a TICA, is State Farm constantly checking in on me, and if so, is it in person?
4. After the year long contract, is it plausible to get out of the business?
5. Is this crazy?
I know this might not sound right to everybody, but it is giving me a chance to learn and make money, while helping my bro in law continue his insurance pursuits under the State Farm name, and giving State Farm more customers. Just curious. Thanks"
If you're trying to make and save money, this definitely would not be feasible for you. Especially if you're taking classes for a MBA in Engineering and not sure if you want to do this as a career. Trust me when I say this.....DO NOT waste your time and money.
1. State Farm's training is great but if you have no experience in insurance or sales, you're probably choosing the wrong way to go. If you want to learn the ropes, you should go work for an agent before deciding to open your own office. Get a feel for everything and if it's a fit for you.
2. This idea is not feasible at all. Do you have enough money saved up to pay 3 employees, lease an office, buy furniture, lease computers, printers and scanners, buy leads, etc. Plus, you can't just bail after a year and give your brother in law the agency.
3. They check in on you all the time. State Farm has many different corporate drones that come to check on you and tell you how to spend your time and money. You have a lot of goals to hit while being a TICA and these people are, supposedly, there to help you get there.
4. You can get out after a year, but if you'd made it that long and invested that much...why would you? Not to mention, you DO NOT OWN THE BOOK OF BUSINESS. You will have just wasted money and a year of your life.
5. Yes, absolutely bat **** crazy. Run now and don't ever look back.
You won't be earning money. You will be losing money and lots of it, as well as putting yourself in debt for years, and probably develop an ulcer due to all the stress. You will most likely start a scratch agency too, which means you will not have a book of business to make money off of from the start. Trust me man, I've worked for 2 State Farm TICA agents. One was scratch and the other started with a huge book. The scratch agent was a family member, so I know first hand the troubles and stress it brings. Whichever route you choose to go, best of luck to you.
I was told I can pursue this process of becoming a state farm agent for good fast money. Assuming I get accepted into the agency, I'd go through the 9 month process of learning about the field. This would give me the money I need and I think it could be good to learn what they're teaching (I love learning about everything and have very little knowledge in insurance and sales, so why not). Then when the training is done, my brother in law would be able to work out the one year contract part of the deal as an employee. I would work with him somewhat but he feels able to meet their goals and achieve the bonuses that they offer. Then when the year is over I'd stop working and am told I can sell my agency back to State Farm. Sounded like a great plan, but this forum scared me into not thinking their deal is so easy.
I'm wondering a couple of things:
1. Is their training a worthwhile thing for someone not so sure if they're going into insurance sales for life?
2. Does this whole idea sound possible?
3. During the 1 year as a TICA, is State Farm constantly checking in on me, and if so, is it in person?
4. After the year long contract, is it plausible to get out of the business?
5. Is this crazy?
I know this might not sound right to everybody, but it is giving me a chance to learn and make money, while helping my bro in law continue his insurance pursuits under the State Farm name, and giving State Farm more customers. Just curious. Thanks"
If you're trying to make and save money, this definitely would not be feasible for you. Especially if you're taking classes for a MBA in Engineering and not sure if you want to do this as a career. Trust me when I say this.....DO NOT waste your time and money.
1. State Farm's training is great but if you have no experience in insurance or sales, you're probably choosing the wrong way to go. If you want to learn the ropes, you should go work for an agent before deciding to open your own office. Get a feel for everything and if it's a fit for you.
2. This idea is not feasible at all. Do you have enough money saved up to pay 3 employees, lease an office, buy furniture, lease computers, printers and scanners, buy leads, etc. Plus, you can't just bail after a year and give your brother in law the agency.
3. They check in on you all the time. State Farm has many different corporate drones that come to check on you and tell you how to spend your time and money. You have a lot of goals to hit while being a TICA and these people are, supposedly, there to help you get there.
4. You can get out after a year, but if you'd made it that long and invested that much...why would you? Not to mention, you DO NOT OWN THE BOOK OF BUSINESS. You will have just wasted money and a year of your life.
5. Yes, absolutely bat **** crazy. Run now and don't ever look back.
You won't be earning money. You will be losing money and lots of it, as well as putting yourself in debt for years, and probably develop an ulcer due to all the stress. You will most likely start a scratch agency too, which means you will not have a book of business to make money off of from the start. Trust me man, I've worked for 2 State Farm TICA agents. One was scratch and the other started with a huge book. The scratch agent was a family member, so I know first hand the troubles and stress it brings. Whichever route you choose to go, best of luck to you.
