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

[xrac]

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!!

Yes if three conditions are met:

1)You can pass underwriting.
2)If you can afford the premium.
3)If you can close the sale.

Why would you let someone else make the money you should make?

 

[F150]

ok boys, you write your own life policy, first year commission pretty much pays for itself, so do you switch carriers every year to basically get a free life policy?

 

[WCMason]

ok boys, you write your own life policy, first year commission pretty much pays for itself, so do you switch carriers every year to basically get a free life policy?

Considered it. Decided against it. No reason other than it feels like it might draw ethics attention. Could be wrong, but passed on the idea.

 

[DHK]

No. You buy a LARGE term policy... and convert some every year.

 

[LifeWorth]

No. You buy a LARGE term policy... and convert some every year.

Why term and then convert? Why not just a big permanent policy?

 

[WinoBlues]

Why term and then convert? Why not just a big permanent policy?

Cost.

..................

 

[xrac]

Why term and then convert? Why not just a big permanent policy?

First, the assumption is you are young and health so you get all the coverage you can. Second, assumption is early in ones career they may not be able to afford that as WL but can over time as the income increases.