Career Changer Needs Help with which companies and Insurance to sell

Oct 5, 2007

  1. Randy
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    Randy New Member

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    Hi people,
    I have been in the real estate appraisal business for the past 16 years and as you may know that industry has declined so much in 2007 that I have decided to change careers.
    I am preparing for the life and health exam now and will take it by the middle of October 2007. I have been researching different companies and insurance types and the more I research, the more confused I become. I want to make one change and not jump around. Having not been in sales per say and having been self-employed in the appraisal business has made me a self sufficient and very skeptical of being an employee ever again. Also, I do not have many family or friends that these companies want you to sell to. The delimma is to choose a company that will provide leads or at a minimal cost and have competitive products that people want.
    My first encounter in my search is a company called NAA. I have spoken with some people who are doing very well. I also researched them on Ripoff Report: By Consumers, For Consumers and there are many people who say that they are terrible for various reasons, bad leads, non-competitive products, and there are just as many people who are pleased and doing very well. I noticed another ad for a company called Charter House Consultants and I could not find any info on them at all. Has anyone heard of them good or bad.
    As I said, I am confused as to what type of insurance and company I can go to that I will remain independent and make good money. I cannot see myself cold calling all day long as this is very boring and there is the Do Not Call List now.
    If I go into selling insurance, the leads have to come from somewhere. I would imagine, that you don't have a business unless you are acquiring good leads on a daily basis. Are there any other companies that help you with lead generation?
    So, with that said, what is the best way to get into this business and learn and do well as quickly as possible? I think I might just as easily be interested in Commercial insurance and propery and casualty insurance as Life and Health Insurance. I began the CFP program 2 years ago and completed Financial Planning, Insurance and Tax modules. I still have to complete the Retirement Planning and Estate Planning modules. In all honesty, I probably won't complete it because I do not like having to keep up with tax changes.

    I appreciate genuine, good advice.
     
    Randy, Oct 5, 2007
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  2. HomeService
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    I went with a manager into a home, and he was with NAA. Or one like it. { there are all these mortgage life co's I cannot remember which, but I think it was NAA.} Anyway, the MGR. was trying to strong arm people into buying life ins. by talking loudly and being confrontational. What a dork. It was like we were invading homes to fight with people. Then, if you ever , ever mentioned life insurance, you were in trouble. It was "mortgage protection", never life ins. I called the state board of insurance and they told me that was totally misleading and probably not right.

    Ask the guys at NAA if they sell life insurance, and if you can ever mention insurance in a house to a prospect.
     
  3. WBunch
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    WBunch Super Genius

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    Why would you not complete your last 2 modules for your CFP? To me that is very pardon my opinion, stupid. You spend all of that time and money to start something like that and don't finish because you don't want to keep up with tax laws. Here's a tip, don't take on any high net worth clients or try to do any retirement planning for someone. It might be too much work because you don't have the time to stay on the up and up of your practice.
     
    WBunch, Oct 7, 2007
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  4. saieddie
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    saieddie Guru

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    Why haven't you sat for your CFP, Bunch?

    ChFC qualifies you to sit for the exam.
     
  5. djs
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    djs Super Moderator Moderator

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    Close, but not true. Classes are the same, other requirements are not. CFP requires 4 year degree (I think in anything) and a minimum experience requirement. Bunch may have both of these, but there are some minor differences.

    If you have your ChFC title, what's the advantage to sitting for the CFP? Perhaps slightly better recognized, barely.

    Dan
     
    djs, Oct 9, 2007
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  6. jman1237
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    jman1237 Expert

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    Don't do something like this,
    Watch for this stuff,

    Restrictive Covenant:
    While this Agreement is in effect, and for the longer of a 5 year period thereafter or the period in which the agent is receiving renewal commissions.
    Agent will not use his knowledge of xxxx's insurer's business for the benefit of himself or any other person , nor divulge to others information relating to xxxx's or insurer's business affairs, including but not limited to , the names of customer, the names of employees, number or character of policies and prices, and the terms and particulars of xxxx's insurer's business and keep confidential his knowledge of such business's affairs acquired while engaged by xxxx.
    All insurance business procured under this agreement becomes the property of xxxx and of the insure. Agent shall not personally, nor indirectly through any other person in anyway cause unrest o nor divert, rewrite, or switch any of the policy holders obtained hereunder to any other representative of or to any other insurance company.
    If If Agent violated this section all renewal commissions which would otherwise accrue or best to agent shall be forfeited as liquidated damages provided however that is agreed that the there is no adequate legal remedy available to xxxx and thus in addition to liquidated damages injunctive proceedings and/or an action for damages may be commenced to enforce the provisions of this agreement with all costs of said proceedings, including reasonable attorneys fees to be paid by agent.
    :arghh::arghh::goofy::goofy:
     
  7. jman1237
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    jman1237 Expert

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    An employee or a job are words that give me massive headaches and cause violent vomiting.
     
  8. mmike160
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    mmike160 Guru

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    Hey Randy,

    I'm in the mortgage business. With all the changes in the market, i have been looking to write insurance part time. I ran into NAA also and believe that i read some of the same things your did online about them.

    Any of you pros got any ideas regarding good companies to start out with?
     
  9. HomeService
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    one suggestion: go with the big boys to learn the business, NY life, mutual of omaha, new england, etc
     
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