Considering getting into the insurance industry, need advice/direction!!

[INETWORK4U]

Re: Considering getting into the insurance industry, need advice/

Hi all:
New to site. Need a little advice. I currently own a small IT consulting company which I run on my own, NO OVERHEAD. My wife is an Occupational Therapist who does quite well but she hates the hours it requires to make that amount of money. I am looking seriously into becoming a State Farm agent and am currently scheduled to attend Career Understanding. Recently I have been doing my research and read all of the threads on NASFA.com. Quite frankly I was extremely discouraged with the debt horror stories I heard. The advice I need help on is should I risk giving up my IT business which I have grown from 1 account to over 30 accounts for a chance to become a successful SF agent.

 

[Guest]

Re: Considering getting into the insurance industry, need advice/

The advice I need help on is should I risk giving up my IT business which I have grown from 1 account to over 30 accounts for a chance to become a successful SF agent.

Why not ask if you should buy a Benz or a BMW? Or perhaps ask if you should buy the house on Maple Street or Elm Street?

How do you expect anyone here to give you a qualified answer?

Here are two ways for you to decide, both valid.

1. Flip a coin. Heads you join SF, tails you don't.

2. Do what you WANT to do. If you want to join SF, join. If not, don't join.

You've got the financial luxury to use either decision making method, or make either choice. Most people don't. I think asking here is a waste of your time. Once you are in the water we can help you swim, but we can't tell you if you should jump in, dive in, or forget swimming and go play golf.

Al
InsuranceSolutions123 Agency

 

[INETWORK4U]

Re: Considering getting into the insurance industry, need advice/

Well just jumping in the water is stupidity. The reason why my wife and I are where we are at ages 34 and 29 is because we dont jump into anything without doing our research. The is the only reason I joined this forum was to get some insight from people already in the business. In other words , what would you do if you were in my situation?

 

[Guest]

Re: Considering getting into the insurance industry, need advice/

The is the only reason I joined this forum was to get some insight from people already in the business.

No. "Insight" covers topics such as "What can I earn" or "how will I find clients" or "What are good products for my area" or "Is term better for this client or is UL better?"

You want us to make a decision for you. We can't do that for you.

In other words , what would you do if you were in my situation?

I would sit down in a quiet place all alone for several hours and come up with some choices of what I WANT to do for the next few years. I would make believe that I was going to be diagnoised with a terminal illness three years from now and given that, think how I would feel about myself and my life looking back on those three years from my death bed.

One thing I might add. No matter what decision you make, at your age, it's not wrong. You have plenty of time to try different paths. If you think you will be happy and successful in the financial services biz, give it a shot for a year and see how you like it and how far you get. You can always go back to IT or try something else.

With your somewhat comfortable financial position, what are you making such a big deal over? If you make a wrong decision so what? It won't be the first or the last one you ever make.

I spent about 25 years in IT. I could go back if I wanted to. But I don't want to (and have to work that hard again at my age (61)). In fact I may change directions next year and get securities licensed and go to the "dark side!" Or I may partner with some folks and buy a small boutique hotel in a tourist city (I love hotels... not sure why!!)

Honestly, the worst thing you can do... is nothing. Make memories... both good an bad. Live your life... don't just think about it. As Nike says, "Just do it."

 

[myvegasrep]

Re: Considering getting into the insurance industry, need advice/

Hi all:
New to site. Need a little advice. I currently own a small IT consulting company which I run on my own, NO OVERHEAD. My wife is an Occupational Therapist who does quite well but she hates the hours it requires to make that amount of money. I am looking seriously into becoming a State Farm agent and am currently scheduled to attend Career Understanding. Recently I have been doing my research and read all of the threads on NASFA.com. Quite frankly I was extremely discouraged with the debt horror stories I heard. The advice I need help on is should I risk giving up my IT business which I have grown from 1 account to over 30 accounts for a chance to become a successful SF agent.

Would you consider starting out as a part time independent? This will allow you to get your licenses and some knowledge of the business. Then compare SF, Farmers, American Family and others. The P&C business can be very time consuming. You may want to consider getting some Life & Health training before commiting to the P&C business. I have 30 years of experience and write an insurance newsletter. Would be happy to give you any information/advice I may have.

Jon of Las Vegas

 

[skeet64]

Re: Considering getting into the insurance industry, need advice/

One thing to ask is do you want to center your business on a physical/retail location or mainly using the Internet or a blend of the 2?

 

[nomadone]

Re: Considering getting into the insurance industry, need advice/

Be prepared to work.

 

[bobby dazzels]

Re: Considering getting into the insurance industry, need advice/

Yes find a local guy, most on this forum won't teach you a thing, they're not into competition and some like to think they know it all, which usually means they don't.

Anything I can do to help, holla back via email!!

You are so right Rob

 

[jmhopkins40]

Re: Considering getting into the insurance industry, need advice/

Ok Guys, This is day 1 for me. I just recieved my study guide for my state of iowa exam. I have been recruited by an excellent company and i am excited about going to work instead of school now. I just finished my Business management degree in college and am happy about that. I was highly recruited and found the company i want to work for.
However, Taking the test is kinda scaring me after reading some of the posts on this site. I did real well in college, and I am 44 years old with alot of sales experience. I never thought I would be an agent, but you never know, Right?
Any suggestions on getting started? I was told to study for my "Accident and health" exam..

Just my thoughts...but the test Ohio test is a joke..If u crammed in college u will do fine. i never opened a book until the night before, crammed 4 hrs and scored in the 90's. It appears to have been designed on an 8th grade level, use reverse wording, 2 will be close, 1 way out there and another maybe. You can score a 70% if u master your test taking skills.....and pick up a few more correct answers and u passed...serious. good luck.

we had a 100% pass ratio for our contracted agents and never trained on test material after they finished their classroom training.

this may not be true for all...but it was for our agency.

 

[Alhambra]

Re: Considering getting into the insurance industry, need advice/

Hi

I'm a new member to this fine Board. I've been hired by a gigantic insurance company and trained and licensed under series 6, 63, and Life. I've also passed my 40 hours of P&C pending my state test.

I'm planning to leave my current company due to several reasons, in which the main one is they expect you to get your leads from your friends and family members or pay for them yourself. They also do not offer any residuals.

I'm looking for a more comfortable way of life than that. I'm looking for a company that expects you to be a good salesman and closer, rather that an excellent telemarketer or basically a good con-man.

I've had interviews with Farmers Insurance and they want $ 63.50 to verify my background. Another company, SF needs to pull credit report and check into my net assets to make sure I'm sitting on $ 50K before they offer me a job.

A penny for your thoughts. What suggestions can you provide me?