Can You Write Your Own Life Insurance Policy As a Life Insurance Agent?

[Agent84]

Can you write your own life insurance policy as a life insurance agent?

I've heard many times you can. Is it viable? What are the pros and cons? One agency told me to join them and I can write myself my own policy, while another told me to join them but I MUST have them write me a policy instead...

I know and have seen some agents write client's policy and never does anything as a good agent (contacting them, followups, etc), until that person passes away and they just deliver the death benefit. I also know if that agent is no longer in the company, the company usually sends someone else to take care of delivering it.

So, should I buy my own life insurance policy as an agent? Or have someone else make the commission and overrides off me and pray they can take care of me as their "client"? Help me out here guys! Thanks in advance!!

 

[axeman462]

Can you write your own life insurance policy as a life insurance agent?

I've heard many times you can. Is it viable? What are the pros and cons? One agency told me to join them and I can write myself my own policy, while another told me to join them but I MUST have them write me a policy instead...

I know and have seen some agents write client's policy and never does anything as a good agent (contacting them, followups, etc), until that person passes away and they just deliver the death benefit. I also know if that agent is no longer in the company, the company usually sends someone else to take care of delivering it.

So, should I buy my own life insurance policy as an agent? Or have someone else make the commission and overrides off me and pray they can take care of me as their "client"? Help me out here guys! Thanks in advance!!

no, you better let me write it for you...
:bump::bump::bump::bump::bump::bump:

 

[Newby]

Can you write your own life insurance policy as a life insurance agent? I've heard many times you can. Is it viable? What are the pros and cons? One agency told me to join them and I can write myself my own policy, while another told me to join them but I MUST have them write me a policy instead... I know and have seen some agents write client's policy and never does anything as a good agent (contacting them, followups, etc), until that person passes away and they just deliver the death benefit. I also know if that agent is no longer in the company, the company usually sends someone else to take care of delivering it. So, should I buy my own life insurance policy as an agent? Or have someone else make the commission and overrides off me and pray they can take care of me as their "client"? Help me out here guys! Thanks in advance!!

Of course you can and should write your own policy. Most companies won't advance commissions on it because that is ripe for abuse. But you should own what you sell.

 

[LGilmore]

well let's hope you're smart enough to figure this one out yourself. If you can't you won't be there long enough to earn commissions on your own policy.... that was a hint to the answer as well.


actually tell the agency that told you "they" had to write you to f ck themselves because clearly, they have no problem f cking you.

 

[LifeWorth]

When I was with a captive insurance company I saw quite a few agents whose paycheck was 90% business they either wrote on themselves or their family and friends. Reason for this is because the company paid 112% FYC. Now, controlled business was not paid in advance commissions, but the random sale to a stranger here and there plus the as earned commission on controlled business made for a very decent paycheck. It was literally a case of putting a dollar in the bucket and getting more than a dollar right back after each dollar deposit. Needless to say, the company caught on to the trick and quickly showed them the door.

 

[Norwayguy]

My only question to the OP is are you already licensed. If so of course you should write your own policy its like getting a 100% to 50% discount in year one. Now if your not currently licensed and just looking at a discount I wouldn't waste the time....

Oh and if the carriers saying they must write your policy as training ie Primerica, WFG, HBW and some others your better off running.

 

[Agent84]

Thanks everyone.

Yes, I am licensed. I brought up that why can't I write my own policy, and they just said that's not how they do business in "this business". While they were explaining it to me, I understood the reasoning behind it, but I don't quite agree with it. I agree with what you guys all said though, I'm just trying to figure out the "best" solution. Thanks again everyone!

 

[WinoBlues]

Thanks everyone.

Yes, I am licensed. I brought up that why can't I write my own policy, and they just said that's not how they do business in "this business". While they were explaining it to me, I understood the reasoning behind it, but I don't quite agree with it. I agree with what you guys all said though, I'm just trying to figure out the "best" solution. Thanks again everyone!

Do your sales meetings look like this?

 

[Agent84]

Do your sales meetings look like this?

LOL!!! You were there!!!

 

[WCMason]

Can you write your own life insurance policy as a life insurance agent? I've heard many times you can. Is it viable? What are the pros and cons? One agency told me to join them and I can write myself my own policy, while another told me to join them but I MUST have them write me a policy instead... I know and have seen some agents write client's policy and never does anything as a good agent (contacting them, followups, etc), until that person passes away and they just deliver the death benefit. I also know if that agent is no longer in the company, the company usually sends someone else to take care of delivering it. So, should I buy my own life insurance policy as an agent? Or have someone else make the commission and overrides off me and pray they can take care of me as their "client"? Help me out here guys! Thanks in advance!!

I wrote my own life insurance (IFP health, too). Commission as earned only.