Couple of Questions

Jan 10, 2009

  1. Guest
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    Guest Guest

    I am seroiusly considering leaving a stable career as a police officer and becoming a captive insurance agent at a multi-line company. One of my main fears is the poor economy. Has the poor economy affected your sales?

    My other question is what one piece of advice do you wish you would have been told by an experienced agent when you started.

    Thanks
     
    Guest, Jan 10, 2009
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  2. xosephchu
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    xosephchu Expert

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    Insurance selling requires high degree of self-disclipline and determination. One of the reasons former military personnel, nurses and teachers do well in insurance business is because of their ability to execute their daily sales activities as planned.

    Although the economy outlook is not very promising, insurance is still necessary to protect an indivudual or a family from unexpected financial loss.

    Despite the fact there are always new agents who do well in insurance business, the industry always experiences huge agent attrition rate.

    One of the questions prospective insurance agents would like to ask themselves is why they want to join insurance business. The answers to this question would provide an insight if they are ready for this business.
     
  3. Mark
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    Mark Guru

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    The market has changed from New Homeowners/term to Final Expense/seniors in the life sales. My volume is staying the same.

    Let me give you some free advise. FInd your niche and stick to it. You can't do it all.

    IF you would like, you can call me and I will try to answer all of your questions next week.

    877-968-5757
     
    Mark, Jan 10, 2009
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  4. HomeService
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    There is a pretty big turn around of agents -in this business.
    A lot of them leave, and go back to the "stable career". However, the ones who stick it out, can be wildly successful. Actually, anybody can be successful if they work hard enough at it. It's not for everyone, but it is great-for the person who works hard and sticks it out. I would say that if you are ready to commit 100% to it, go for it. But, if you have any doubt at all, stick with the stable career. There's something to be said for a stable career. Insurance can be a stable career- if you work hard and consistently prospect for new business. It's up to you, it really is. This business- it's up to you to succeed, or fail. I hate to be so vague, but it really is all up to you, from taking the first step and leaving your job, to making sure you are successful... 100% on you. Think hard about it.
     
  5. Guest
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    Why are you considering leaving? Is it before the pension? Are you miserable? Can you wait it out until you retire and then check the economy?
     
    Guest, Jan 11, 2009
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  6. Guest
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    I'm 30 years old and wont be able to retire until I'm 53. Although I don't hate my job I certainly don't enjoy it as much as I used to. I'm not happy with working nights (11pm -7am) nost weekends and holidays.

    I know as an agent I would have to put in a lot of work and hours. I definately don't view being an agent as a 9-5 job. However, I would have some control over my schedule. Although the lack of a secure income is scary my wife does have a secure income w/ excellent benefits and is in the $70,000 plus range, which definately helps.
     
    Guest, Jan 11, 2009
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  7. HomeService
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    You definately have motivation to make this work, those hours are not desirable to me, probably not to you- as well. If you woked 9am till about 7pm at insurance, maybe 8 pm. ---You could do well.
     
  8. xrac
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    Life is definitely too short to stay at a job if we don't enjoy what we do but may I ask as to why you are attracted to this industry?
     
    xrac, Jan 11, 2009
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  9. padthaiforlunch
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    padthaiforlunch Guru

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    I would think long and hard before leaving a gov job in this economy. U-6 unemployment is over 13%.

    Also, which company are you thinking of working for? I received a call from Primerica last week, trying to recruit, and the commissions on life insurance were 20% of first year premiums.

    Certainly this business is more lucrative on the independent side. How long can you go without a salary? How much do you have saved up?

    Does you family currently rely upon your job for health insurance? If so, is anyone in poor health? Be sure to calc in the cost of paying for your own insurance if you leave.

    You are young enough to stick it out for another three or four years.

    If you leave your job and then realize insurance sales isn't a good fit, how screwed will you be finding another job/getting your job back?
     
  10. SportsNut
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    Officer: (usually I am saying that with my license in my hand)...

    So you are working 11pm to 7am and most weekends and holidays... That leaves a lot of time that you are NOT working. During these non-working hours, while still maintaining your police officer job, you could get started selling ins... at least 20-25 hrs per week. Get your feet wet and getting some training and experience and maybe a bankroll. Once you are more confident in your skills and know a little more about this, and hopefully have earned some income, then you will know better if the time is right.

    No reason to make an all or none decision when you have a stable job an income. It will be too hard to go back the other way if the decision or timing of the decision isn't right.

    Hook up with markingriffin in this thread... he can steer you in the right direction. He has lots of great ideas and products. Markingriffin
     
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