Brand New Insurance Producer

[trevorwest55]

So I'm 18 years old and am currently pursuing a career in insurance sales. First let me give you some background info. My step dad is a mortgage broker making 450k a year. He has been in sales for 20+ years. He is always looking for new business ventures and one day decided to open an office with farm bureau. Him and his co-worker got approved for the office and got there appointments after training. They offered me a job as a solicitor/assistant where I would be making my full commission and I could do everything except bind policies. He is going to be like a mentor to me along with everyone in his mortgage office. So I got licensed in p&c and life and health. I've been working with them for 3 days and have sold one policy worth a 160$ commission. I'm also a dreamer, I see myself having my own house in the next year but I really need to know the steps I should take to get there. Hopefully an insurance veteran on here can give me some good advice and give me some tips on how to start out. Thank you guys very much.

 

[AZDave]

So I'm 18 years old and am currently pursuing a career in insurance sales. First let me give you some background info. My step dad is a mortgage broker making 450k a year. He has been in sales for 20+ years. He is always looking for new business ventures and one day decided to open an office with farm bureau. Him and his co-worker got approved for the office and got there appointments after training. They offered me a job as a solicitor/assistant where I would be making my full commission and I could do everything except bind policies. He is going to be like a mentor to me along with everyone in his mortgage office. So I got licensed in p&c and life and health. I've been working with them for 3 days and have sold one policy worth a 160$ commission. I'm also a dreamer, I see myself having my own house in the next year but I really need to know the steps I should take to get there. Hopefully an insurance veteran on here can give me some good advice and give me some tips on how to start out. Thank you guys very much.

Hmmmm. Sounds like a real difficult situation. Farm Bureau appointment with modest budget for use? Not sure where to start here.

 

[trevorwest55]

I'm looking along the lines of the first steps to really being successful. I am very young but very mature and I feel like because of my age, people won't take me seriously and won't trust me with there financials. I'm just looking for advice on where to find the best leads, how to make them feel comfortable with me, closing deals.

 

[Tampa Bay Rep]

I'm just looking for advice on where to find the best leads, how to make them feel comfortable with me, closing deals.

For real time internet leads you may want to check out Hometown Quotes, for data lists you should consider Affordable Marketing Lists and for aged insurance leads you might want to take a look at what we have to offer at Stellar Prospects.

As for your question about advice on closing deals you may want to check out the free sales training videos, recorded webinars & teleconferences that we have on our website. We have recorded presentations from health, life and P&C agents sharing their sales process that you can pick from. You request the recordings that you want at the following link:

Aged Insurance Leads Info Request Form

 

[trevorwest55]

I'll definitely look into them thank you very much

 

[bigjake]

So I'm 18 years old and am currently pursuing a career in insurance sales. First let me give you some background info. My step dad is a mortgage broker making 450k a year. He has been in sales for 20+ years. He is always looking for new business ventures and one day decided to open an office with farm bureau. Him and his co-worker got approved for the office and got there appointments after training. They offered me a job as a solicitor/assistant where I would be making my full commission and I could do everything except bind policies. He is going to be like a mentor to me along with everyone in his mortgage office. So I got licensed in p&c and life and health. I've been working with them for 3 days and have sold one policy worth a 160$ commission. I'm also a dreamer, I see myself having my own house in the next year but I really need to know the steps I should take to get there. Hopefully an insurance veteran on here can give me some good advice and give me some tips on how to start out. Thank you guys very much.

Just curious what state are you located? Farm Bureau can be a good calling card for you. In Georgia, they (the agents) all seem to do quite well.

I would say (this from a "has-been" who knows) that if you are just starting out and worked 3 days and made ANY sale, then you are off to a good start. Whenever you start calculating your paycheck daily is when you lose momentum.

Concentrate on what you did right, not necessarily wrong, to make $160. Try to make 160 in 2 days next. Then one day, and so forth. You will become more efficient and, before you know it, the commissions will reflect that. Whatever you make the first year, or any year you are learning a new business, is positive. Remember, some people go into debt and have tremendous financial obligations which prevent them from making the first dollar for a year to two.

Also, more importantly, YOU ARE ONLY 18. Most people your age are working at the Gap or flipping burgers!

Put 20% of everything off the top into sound investments. Max out RothIRA and use NO LOAD mutual funds until you are comfortable with picking your own stocks. Put another 10% in cash for emergency. Fast cars and women are not emergencies..

Find out what you sell the best before putting out a lot of money on leads or advertising. There are so many ways to spend money out there its scandalous.

Best of luck.

 

[Tom from Denver]

Because you are new to insurance and because of your age many will be reluctant to share their "financials" with you.

BUT, people are almost universally seeking more value or lower costs with their insurance.

Knock on LOTS of doors, see lots of people with a very clear question such as: if I could show you how to better protect your home or car for the se or less than your paying for your insurance today, would you sit down with me tomorrow at 2 pm for 20 minutes?

Likely half homes you go into will be underinsured, many middle age and seniors will like ghetto idea of helping a kid who is clean cut, who is sincere and who works hard for them.

You can have a great future. Work on yourself every day. Read at least 30i minutes from folks like Jim Rohn. Buy and read "How I raised myself from failure to success" by Frank Betcher. Google, then purchase the "Go For No" program.

Good luck!

 

[trevorwest55]

I'm in michigan and from a few people I've talked to, it seems that they are much more interested in saving pennies than making sure they are fully covered. This will probably be hard because farm bureaus rates seem to be right in the middle when it comes to price.

 

[Tom from Denver]

If you're looking for price shoppers - you will NEVER win when you're a captive agent and you will RARELY win when you're an independent agent.

When you sit with enough families and you do a good job finding out what their needs are while and assessing the gaps in what they have - you will be showing the value you bring.

When you show value and they like you - over half of people will buy from you.

Every Allstate, Farmers, American Family, Nationwide agent faces the same challenges you do - and yet so many have succeeded. Find out from them how they did it, and what they had to do to first survive and then to thrive.

 

[TwiLight]

Depends on Where you are in Michigan.

If you are Detroit Metro than it is a price thing and you need to be an independent to be successful. None of the captive agents last long that are new to the business these days.

You will need to work in an agency for experience and writing business.

In My Humble Opinion, to make it as a newby in personal lines, you would need to write a minimum of $300k in Auto/Home business in year one. Once you have proven you can do this, then more opportunity will open up for you with the experience.

Bottom line is that at 18, you need to work at getting your college done first and working in an agency to get experience. Without at least a 4 year degree, it will limit you in the P&C business. Without a proven track record or way of writing new business as your Step Father has shown with the Mortgage business, it is tough to get appointments in this State.

Good Luck to you.