Best Company To Start With For Breaking Into The Senior Market?

[moonlightandmargaritas]

Go indy and read everything by Frank Stastny, jacobtn, and jdeasy.

Leaving out JDEasy, they'd be better off reading everything by Moe, Larry and Curly.

 

[midwestbroker]

There are basically two companies to choose from who specialize in this market. Bankers Life & Casualty and Physicians Mutual.
I started out as a Captive, took the training and left after four
years. Avoid Bankers Life & Casualty. You lose your renewals
if you leave before ten years. Also alot of high pressure !

Physicians Mutual is a highly rated, reputable company. I know
one of their top Career Agents. They provide extensive training
and leads. You are vested after five years.

Hope this is helpful

Umm...ok...

Here is what I have found in talking to agents and FMO's...

Many provide support in carrier info and some sales ideas, but many of the larger ones do not provide the 1:1 newer agents want.

A "real" captive opportunity will have a salary, benefits, support, training, etc. Someone mentioned Humana, which would give you all this, but again, you are still an employee. Other captive opportunities (like other ones mentioned) give you the "honor" of doing business with them. They have 0 benefits, and you might as well be 1099 with them so they cannot command your time with a useless weekly meeting or two.

Do some looking around at FMO/IMO's. There are a lot of good ones out there...

Word and Brown
Ritter Insurance Marketing
and others...

 

[Jessie Herman]

What is it that "draws you" to the senior market?

Did you ever get an answer?

 

[Cenla Agent]

Also, some of the larger FMOs will be reluctant to hand out high level contracts if you are brand new, whereas some of the smaller ones hand out high level contracts like candy. But 0 of 23% is still 0, as they say. You've got to find a way to get in front of prospects.

I don't know of many FMO's who get big into hand holding when it comes to Med Supp. Others might know of some, however. FE is a different situation, not to mention Annuities.

I think this board, SIMA, etc are a big help in filling in the gaps. A lot of FMO's will have webinars and similar things, but often they don't get much (if any) more in depth than what you'd get here just asking some questions.

Umm...ok...

Here is what I have found in talking to agents and FMO's...

Many provide support in carrier info and some sales ideas, but many of the larger ones do not provide the 1:1 newer agents want.

A "real" captive opportunity will have a salary, benefits, support, training, etc. Someone mentioned Humana, which would give you all this, but again, you are still an employee. Other captive opportunities (like other ones mentioned) give you the "honor" of doing business with them. They have 0 benefits, and you might as well be 1099 with them so they cannot command your time with a useless weekly meeting or two.

Do some looking around at FMO/IMO's. There are a lot of good ones out there...

Word and Brown
Ritter Insurance Marketing
and others...

 

[Mark from WI]

I think this board, SIMA, etc are a big help in filling in the gaps. A lot of FMO's will have webinars and similar things, but often they don't get much (if any) more in depth than what you'd get here just asking some questions.

Hi Cenla, thanks for the mention of SIMA. Since you brought us up, and since it's on topic, SIMA did have a recent webinar on "Captive vs. Independent" presented by Mike Gattorna. You can find the presentation online. SIMA does not seek to be a competitor to the value IMO's provide, nor do we align ourselves with any one IMO to the exclusion of any others.
Each agent needs to make their own decision based on many of the factors within this thread. A service like SIMA can be a nice complement to the value an IMO provides- OR certainly to enhance the resources of an independent agent. We're working to expand content and presentation material to help our members more in the coming months. Thanks again. - Mark

 

[agentjhc]

Senior Market Sales inc.....anybody have info on this IMO?

 

[senior-advisor-indiana]

Senior Market Sales inc.....anybody have info on this IMO?

Not impressed. You can get higher contracts elsewhere.

 

[dgreenlee]

Hi Cenla, thanks for the mention of SIMA. Since you brought us up, and since it's on topic, SIMA did have a recent webinar on "Captive vs. Independent" presented by Mike Gattorna. You can find the presentation online. SIMA does not seek to be a competitor to the value IMO's provide, nor do we align ourselves with any one IMO to the exclusion of any others.
Each agent needs to make their own decision based on many of the factors within this thread. A service like SIMA can be a nice complement to the value an IMO provides- OR certainly to enhance the resources of an independent agent. We're working to expand content and presentation material to help our members more in the coming months. Thanks again. - Mark

I did not find this webinar on SIMA under the videos? Could you check to make sure it is on there. Thank you. Denise

 

[Mark from WI]

I did not find this webinar on SIMA under the videos? Could you check to make sure it is on there. Thank you. Denise

Hi Denise, we did have a Group Chat on the topic, and stored the log from the chat on SIMA- you may find this useful. The link is below. Thanks! - Mark
Senior Insurance Marketing Association

 

[dgreenlee]

Thanks Mark for the link. Good information as always!