Becoming Independent Agent

[screename1]

Hi Everyone

I have been in the insurance industry for about 3 years. I got my start working for farmers insurance and a few other companies. I am no longer working for them.

I want to be able to be independent but have a few companies that i can go to help my clients. I am Life and P/C licensed i live in California. I would be selling Final Expense insurance, life insurance and auto home.

How do i go about this? Companies i am looking at would be Americo, Trans America, Phoenix, Allied/Nation wide. Do i just contact these companies and say can i be an independent agent or is there a better way?

Thank you so much

 

[pcbinsurance]

My opinion is to specialize in one area to start with. Since your experience is with Farmers, maybe P&C is your area. OR, you can learn Final Expense and hook up with a mentor and specialize in that.

I don't know anyone who sells Final Expense, Life Insurance (like term and W/L), AND Property & Casualty....all at once, at the beginning of their independence.

 

[Early]

I too was with Farmers, albeit many years longer than you, but found the transition very easy and extremely rewarding monetarily. (You'll find being independent the complete opposite of Farmers. The carriers ask you what can they do to get more of your business. Instead of, nope, we don't write that or, no, I can't help you with the rate). I've always gone after P&C and only write the L&D products as a service to my clients. I prefer P&C because of the renewals. I use GA's for MEC plans, individual life, group medical and group life. If you decide to focus on P&C I highly recommend going with a cluster. A cluster will give you access to carriers that ordinarily wouldn't talk to you. But be careful choosing the cluster. I did a lot of homework before choosing my cluster and I couldn't be happier with my choice. I could go on so you can contact me offline if you'd like to hear more of my experience.

 

[DanicaB]

How busy can an independent insurance agent get?

I'm a couple of months straight from college and I was ecstatic when I got a job as an insurance agent secretary. I admit, it wasn't directly in line to what I was majoring in, but it was fun and it kept me busy—which is something I love. However, these past few weeks, things have been getting quite crazy. My boss keeps on handing me paperwork after paperwork to sort through and assess. Some I need to call, some I need to file, and some I just need to put away.

Perhaps the real game has finally started. I wasn't expecting it at all, but I was just wondering: how busy can an independent insurance agent get?

I am still fairly new in the industry and I would like to understand its scope deeper. Maybe that way I can be of better help to my boss, or maybe it'll help me figure out how to manage my time wisely and actually get a lot of things done in a day. Recently I have been unproductive. There's just too much to do and so little time.

For those with experience, can you please shed some light to me? I'd really appreciate it.

 

[Lion777]

DanicaB, Tnx!!!!)))))))

 

[DanicaB]

Lion777, you're welcome! But I'd appreciate it if you can help me with my problem? hehe

 

[bboman23]

Lion777, you're welcome! But I'd appreciate it if you can help me with my problem? hehe

First you hijacked someone else's post. Second you asked an impossible question. Some agents are lazy and do nothing and some do what 4 average agents do. How busy you'll be as ones secretary will depend on the agent you work for. No one here can answer that.

 

[TomZack]

I would like to 'piggy back' on the OP.

I am also about to become an independent agent. But I will specialize in life insurance, both term and whole life. I will also work the small business market for tax advantaged products.

Question: Does New York Life and/or Northwestern work with independent agents in addition to their captive force?

Can you recommend a few good options for both whole life and term companies with good, competitive products?

 

[DHK]

My understanding is NYL will work with independent agents for cases of $10,000+ in annual premium. Northwestern does not work with independent agents.

If you're looking for whole life, I'd take a look at Ohio National, but I don't know if they have independent contracts in CT.

Guardian and MassMutual both work with independent agents, but not the same higher payouts as other companies would pay. Assurity as a decent enough whole life, but they don't have a 10-pay or a paid-up at 65 contract.

 

[TomZack]

Thank you DHK.

I will look into Assurity as well as the others!

Appreciate the info.

TZack