CA New Agent, reinstated, now what?

Nov 7, 2007

  1. CHAS.R
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    Just reinstated my CA Life Insurance licence this September along with 50 hours of additional educational courses too.
    I've not been on this forum for quite a few months as my day job, raising a family and trying to manage my deceased mothers estate to it's closure have been keeping me pretty busy until recent. I am ready to begin working this business and a career change toward making a good living as an insurance agent.

    Need your advise...
    1. Would it be wiser to start as a Captured Agent?
    2. If so big or small Company?
    3. Do Insurance Companies really offer agents pay w benefits?
    4. What are your thoughts on starting as a non-captured agent?
    Finally:
    How would you go about transitioning from a decent "steady" paycheck with all the medical and 401K benefits into the insurance business as an agent?

    Additional background:
    - Outside Sales and Account Management
    - Learning first hand about values of making "End of Life preparations" as well as importance of preparing Wills, Trusts and Inheritance Transfer.
    - Studying to be a financial coach through Crown Financial Ministries.
    - Good base of knowledge re family finance and budgeting as well as debt counseling.

    Philosophy:
    - I have a heart for counseling people toward making smart decisions re life and finance.
    - I am not afraid of the word "No" but I will not make any cold calls because I really dislike getting them.
    - Courage, Service, Love, Honesty and Diligence create True Wealth (yeah, sappy I know...but that's me).;)
    - Dont believe in having bigger toys but I believe in having a "Bigger Life".

    All comments welcome & give it to me real.

    Many Thanks, ChasR
     
    CHAS.R, Nov 7, 2007
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    You have a GREAT attitude. I think you should find a way to integrate that with direct marketing... mail, community activity (Rotary, Chamber, etc.) as well as cold-calling and you will do fine as an independent.

    I don't see someone like you being happy as a captive agent, but that's just my opinion... and worth what it cost you.

    Al
    InsuranceSolutions123 Agency
     
    Guest, Nov 7, 2007
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  3. GreenSky
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    My advice is to consider the senior market. It's easy to solicit Medicare Supplements and to do Final Expense.

    By the way, my advice really is worth something.

    Rick
     
  4. Consultant
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    First I like to applaud your intentions and your philosophy. You seem like an admirable philanthropist. However, you are already setting limits for yourself.

    Yes, this business is so powerful because there are many ways to be successful in it. But because you are just beginning it may behoove you not to set such tight limitations on yourself. Unless you have a good sum of money for marketing (even that takes time) you will be spinning your wheels until you brand yourself.

    You may want to look into companies like Assurant that will give you annual commissions, just ask people on this board they'll set you up. That way if your only selling 4 apps a month you can pay your own way.

    I have this writing on my enormous white board, "you can make money, you can make excuses but you can't make both at the same time." If money isn't what pushes you and it's just volume of clients then switch the word money with clients.

    There are many ways to skin a cat, however, if your starting out in insurance and can't even walk into a business to introduce yourself - You may want to think about being a philanthropist. OR pay someone to make the calls and go door to door. Contrary to popular belief, you are the best marketer for your company.

    After a few years you can rely on your network of CPA's, clients & misc. businesses, marketing materials etc. to call your receptionist. But since you are not there yet, the best thing for you maybe is a reframe of mind.

    I think the reason you posted was because you are scared of talking to strangers because you think it makes you less of authority to the prospect but the fact is after the 3rd or 4th call - after they tell you to call back during their renewal or to wait because they're leaving their job - they totally forgot you approached them - but think of you as having character; The responsible broker that listens to them and calls them back.

    You might balk at this idea of reframe but doing these little things that other don't do today let's you have a life other's can't have tomorrow. Peace be with you - good luck.
     
  5. CHAS.R
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    Wow, Thanks for helping me to extend my own boundaries. This is good stuff! :idea:
     
    CHAS.R, Nov 7, 2007
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  6. CHAS.R
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    OH I forgot to mention....I really, really hate getting Cold Calls at my house from sales people. I'm not kidding...I really hate it!:mad:
     
    CHAS.R, Nov 7, 2007
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    I know what you mean about getting sales calls. Before being in the insurance industry, I'd just hang up on them in the middle of their spill.

    Then, I noticed when I started selling insurance people would do the same thing to me. I read some books on better selling, especially over the phone, tonality and pace - and started listening to "those sales calls" - then suddenly no one would hang up on me.

    It seems so simple. Treat people how you want to be treated - and suddenly it works. I would get the "I'm not interested" - but I would get the polite "thank you" at the end. Or often I even get, I appreciate your call or your time - often people don't say no to you they say no to the time.

    So rethink it when they say No, ask them, "because I offer every major carrier in the state of "blank", can I check in 6 months to a year"

    9 times out of 10 I get sure, go ahead. Then about 1/5 of those follow-up calls are willing to get a quote. About 1/3 of those I'll close; however, everyone I meet I stay in contact with.

    There's a gentleman on this board that sales a insurance contact system, a must! I use ACT! and two 10x6 white boards but people really rave about his insurance geared contact system. For the life of me I can't remember his name - do a search.

    Cold calls/walk-ins, marketing pieces, some internet leads and a CPA is a good way to start to diversify your business in the beginning. I'd be careful working with a P&C guy unless he doesn't have a life license - they usually take the large business cases and give you puny leads compared to you giving them $10,000 lump sum business leads.

    This site has so much information, poke around for a few months and you'll have or know where to find all the tools to get off the ground and running. I'll see you at one of the beautiful CA golf courses. That is, if you play!
     
  8. CHAS.R
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    Agreed this site is a great resource for info and personal support. I will definately be dipping deep into it.
    Yeah I just started going to the local driving range. It's my opinion that Golf is both a sport and an art as well as fun.:yes:

    Cheers
     
    CHAS.R, Nov 8, 2007
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    To add to your comment, Golf was the first sport that I noticed if I tried too hard I got worse.

    If you changed anything in your swing, you could go from intermediate to novice; even though you are supposedly doing "the right form this time".

    Cheers!
     
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