Best Market To Specialize In Residuals ?

[rocketboy]

I am taking my Fire and Casualty exam on Thurs. I already have my life and health license, but am trying to figure out which path makes the most sense as far as residual income.


Currently make close to 100k and work night shift at a very large aerospace company. So I am looking to sell insurance over the phone and Internet during the day. I will get non-resident licensed in as many states as possible, but I want to focus my marketing money in one direction at first.
I want to focus on products that are best for residual income. I really don't know what will be best at this point as up front commissions are not really what I need and I am looking long term.

• Auto Insurance-have heard it is A LOT of work to keep up

• Health Insurance-probably best, but how long will it last with universal health on the horizon.

• Life Insurance-Are there any top tier companies giving residuals?

I really appreciate any advice as I need to focus on what direction to go. I will have all lines available, but want to know where the best residuals would be.

 

[saieddie]

Re: Best Market to Specialize in?(Residuals)

The world needs another part time insurance agent like it needs another part time politician.

 

[The Rabbi]

Re: Best Market to Specialize in?(Residuals)

Permanent life insurance.

 

[rocketboy]

Re: Best Market to Specialize in?(Residuals)

Ya, when I was going to work for NMFN they always told me the big bucks were in permanent life. They had a guy in their office making 350k just off residuals.
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saieddie, lets just say the business plan I have is far more involved then just a part-time gig.

 

[The Rabbi]

Re: Best Market to Specialize in?(Residuals)

There are plenty of agents selling life ins by phone but, I believe most of it will be term.

Search the life ins threads.

 

[rocketboy]

Re: Best Market to Specialize in?(Residuals)

Yes, there are a lot of people selling life insurance over the phone, but the problem with that is there isn't a lot of money in it and there are no residuals. So if will definitely be something I offer, but not what I am going to focus all my energy and time on.


Auto insurance vs. Health Insurance?

Both have similar commissions and residuals, along with good and bad points. Auto insurance is a very easy sell and I know a company I can go through to get binding authority. Health cost more on avg(more money), but how long is it really going to last before everything is universal health?

 

[teambuilder]

Re: Best Market to Specialize in?(Residuals)

Don't bother... unless you have tremendous intellectual capacity and the true grit of a "Glen Glarry Glen Ross" Closer. You'll never get off the ground over the phone with no experience.

Focus on health with life on the backend and get yourself an appointment-a-day with a small business owner and you'll be delighted with the result. Do it for a year and then take it back to the phone if you like.

 

[rocketboy]

Re: Best Market to Specialize in?(Residuals)

Guess, I failed to mention my background fully. I have a very strong background in both phone sales and SEO/SEM. I worked for one of the top agencies in the country and was always taught and trained religously on closing on the first call.

 

[JRoot]

Re: Best Market to Specialize in?(Residuals)

Every term life sale is a possible conversion to permanent. If you keep in touch with your term life clients and plant the seed every year, I would count those as residuals.

 

[Delta76]

Every term life sale is a possible conversion to permanent. If you keep in touch with your term life clients and plant the seed every year, I would count those as residuals.

Absolutely, if you plant the seed from the beginning. Those are extremely easy future sales with no underwriting. The key is to keep in touch and do an annual review of their coverage each year (it can easily be done over the phone in many cases).