Captive Team Member P&C Independent Life & Health

[Ccb_1983]

I wonder if it is possible to be captive on p&c, life and independent agent on health. I am currently working as an agent team member for statefarm. Recently i have been offered to become a part of an independent broker team selling medicare, life and final expense. When i saw how much commissions they paid i got so mitivated. The only issue is i won't have any base salary with them. The only solution i can think of is to start selling Medicare on the side while i keep doing statefarm.I will talk to my boss to not to appoint me on health since our agency does not focus and health and medicare anyway.
I also saw how big the commission they gave for life and health. I wonder if i am going to get in trouble if i sold life and funeral policies to those who are not qualified with State Farm. I appreciate your feedback!

 

[thomasm]

I wonder if it is possible to be captive on p&c, life and independent agent on health. I am currently working as an agent team member for statefarm. Recently i have been offered to become a part of an independent broker team selling medicare, life and final expense. When i saw how much commissions they paid i got so mitivated. The only issue is i won't have any base salary with them. The only solution i can think of is to start selling Medicare on the side while i keep doing statefarm.I will talk to my boss to not to appoint me on health since our agency does not focus and health and medicare anyway.
I also saw how big the commission they gave for life and health. I wonder if i am going to get in trouble if i sold life and funeral policies to those who are not qualified with State Farm. I appreciate your feedback!

Since State Farm sells both Life and a Medicare Supplement, I'm pretty sure their not going to be happy with you writing other business.

Might be time to jump ship. SF is harder to prospect for because they already have the largest market share.

I would compare your contract offer with some of the reputable up lines that post regularly in the senior or final expense forums.

You want to avoid some of the common pitfalls new agents are susceptible to, like assigning commissions, lousy training from non-producing managers, and no access to fixed cost lead programs.

But if you really need a base salary, you might as well stay put until you have some savings you can use to live on for 3-6 months.

You should also have some funds set aside to invest in leads each week.

 

[Ccb_1983]

Thank you. You bring up a lot of good points.

Yes, you are right. My goal is to stay with SF as a team member until i have enough savings to be fully independent.
My boss does not want to deal with Medicare. Statefarm only does Medicare Supplement. I did not know they had diff kinds of medicare like Medicare Advantage etc which SF does not offer.

I will lose out on Life commissions but for me not to get in trouble, i'll just do medicare on the side. Keep p&c, life with SF.

Is this a better solution?

 

[Ccb_1983]

Hi again, so my boss told me i can't be independent on life and health and do P&C for State Farm. I just found out that State Farm only sells Medicare Supplement. But i would like to sell Medicare Advantage which they do not do. Can i do this on the side and still be captive with SF?

 

[VolAgent]

Hi again, so my boss told me i can't be independent on life and health and do P&C for State Farm. I just found out that State Farm only sells Medicare Supplement. But i would like to sell Medicare Advantage which they do not do. Can i do this on the side and still be captive with SF?

Ask your boss.

My bet is no, but my opinion isn't the one that matters. I doubt your boss wants you doing anything insurance related that is outside of State Farm.