Couple of Questions

[Ins155]

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.

Pike, I know how you feel. I'm also a police officer and I will be 53 when I retire. The big difference is I'm starting my 22nd year soon. I became a police officer at age 28 and have worked the midnight tour 10:pm to 8:am my entire career. This is my choice giving me the ability to be there for my kids whenever they received an award at school and so on. Most people thought I didn't work because I was one of the few fathers that were there all the time. Not to mention not much brass on the midnight tour. Anyway, as Sportsnut stated if possible sell insurance on the side. I've had a carpet cleaning business as long as I've been in law enforcement and have done this many times on my days off and even after finishing my tour in the morning. Most cops do something else in their off time. I'm tired of busting my back with the carpet cleaning and want a good career I can do when I retire without "physically" busting my back anymore. Thats why I want to prepare now so I'm somewhat established once I retire. Do you have a good schedule? I work the four and four schedule. Four days on and four days off, ten hour day. I am not licensed to sell insurance as of yet. I really need to get down to business myself and start studying again. I've been reading this forum almost on a daily basis and just from what I've seen. You'll have all the support you'll need right here. Good luck to you.
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Pike, you said you're 30? How long have you been on the force? The reason I ask, you said you don't enjoy it as much as you used to. I was 28 when I started and have to put in 25 years in order to receive health benefits for my wife and myself for the rest of our lives. If you have the same requirements, then that tells me you've been on the job for two years. What state are you in?

 

[SportsNut]

I..... have to put in 25 years in order to receive health benefits for my wife and myself for the rest of our lives.

Ins155.... If you have hung out here for any length of time, you know how valuable a benefit that this really is... paid up health ins for 12 yrs before medicare... (maybe longer depending on your wife's age).... Sweet.... Glad that you have paid your dues nearly and that you will qualify for such a nice reward, or supplement to your retirement....

 

[Ins155]

Ins155.... If you have hung out here for any length of time, you know how valuable a benefit that this really is... paid up health ins for 12 yrs before medicare... (maybe longer depending on your wife's age).... Sweet.... Glad that you have paid your dues nearly and that you will qualify for such a nice reward, or supplement to your retirement....

I certainly do know how important it is. I could actually retire right now with 50% of my salary and no medical coverage. As long as you have atleast 20 years of service, which I have. I'm not foolish enough to leave now when in four years I will retire with 65% of my salary at that time and full medical for my wife and myself and one of my kids which will graduate from high school a year after I retire. My other one will be fnished with college by then.

 

[Guest]

I have been in law enforcement for 8 years in Wisconsin. My agency works 6 days on 3 days off. As far as retirement benefits we are vested after 5 years. So I can freeze my retirement benefits until I'm 50 or 53. If I left know and did not have any more years in the retirement system my monthly pension would be $400ish a month. If stayed in law enforcement for another 22 years and retired at 53 the formula used to determine are benefit is to take the top 3 years of pay and average it. Then we get 80% of that number. I don't have any healthcare beneifts in retirement, but my wife will.

 

[Ins155]

I have been in law enforcement for 8 years in Wisconsin. My agency works 6 days on 3 days off. As far as retirement benefits we are vested after 5 years. So I can freeze my retirement benefits until I'm 50 or 53. If I left know and did not have any more years in the retirement system my monthly pension would be $400ish a month. If stayed in law enforcement for another 22 years and retired at 53 the formula used to determine are benefit is to take the top 3 years of pay and average it. Then we get 80% of that number. I don't have any healthcare beneifts in retirement, but my wife will.

Wow, 8 years is alot to throw away. On the other hand, you won't have medical coverage after you retire, thats not good. Your scenario is quite different than mine. 6 on and 3 off kinda stinks too. How many hours is each tour? I can see now knowing these facts that if you made the decision to leave, it would not be the end of the world especially since your wife has a decent salary and medical insurance. Had I had 8 years it would not be beneficial for me since my wife does not work and I do have medical insurance when I retire. Not to mention how many would complain about working 4 days on and 4 days off. Maybe you should try the insurance while you stay at your current employment, just in the beginning and then leave the force. Another year or two would only increase your benefit at retirement age. Good luck.

 

[ABC]

Interesting topic.
Two law enforcement guys that want to become insurance agents:

With your backgrounds there has to be a products that you could specialize in. Maybe selling some type of policies to municipalities? While your still still in law enforcement why not do some research. What Insurance carriers are in place for your departments? What carriers insure, disability, health, cars, buildings & so on. Since you guys are cops if you become agents maybe the "brass" will sit down with you and listen to what you have to say.

 

[Ins155]

Lol, Thats a good one. The brass actually sitting down and listening. On a serious note, in my department New York life usually come to speak to us once a year along with Aflac. In fact the Aflac rep. is coming to meet with us in two weeks to discuss some new products available. I personally did see this as an opportunity for leads. The foot in the door so to speak. Going to other departments as an officer just like them, sounds like possibilities knocking.

 

[SportsNut]

Lol, Thats a good one. The brass actually sitting down and listening. On a serious note, in my department New York life usually come to speak to us once a year along with Aflac. In fact the Aflac rep. is coming to meet with us in two weeks to discuss some new products available. I personally did see this as an opportunity for leads. The foot in the door so to speak. Going to other departments as an officer just like them, sounds like possibilities knocking.

Officer:

Here is an excellent approach that you could use with Police and Fireman... Another one of Mark Rosenthals 1000 sales ideas... (and that is just this month... LOL). Pretty slick niche product for folks at risk in their professions, which you know well.

Fireman or Police Acc Life Ins

 

[Ins155]

Interesting. Thanks for sharing. After reading the post I can see that some agree and some don't and I would think actually thats what would work. Taking bits and pieces from everyone and creating your own niche.

 

[SportsNut]

Interesting. Thanks for sharing. After reading the post I can see that some agree and some don't and I would think actually thats what would work. Taking bits and pieces from everyone and creating your own niche.

Forget the naysayers... they don't count.

I would think that since you are a fellow Offc, that you could hold a 20 minute info seminar at their post... nothing elaborate, and offer a door prize for those that attend / participate... Maybe a Buck knife, ($25-30), or something worth while that everone might want too have... but wouldn't break you up either. They come and listen to your spiel and at the end of the spiel, and after you have passed out the apps, maybe sign up a few, you draw a number; the WINNER must be present, etc... Bingo

In case they didn't sign up... leave some brochures with your agent number on them, and you get credit even if they sign up later and mail it in directly... Can't miss deal...

Detach yourself from this idea, and lets say that someone was coming in to present such an idea right after you were getting off duty, for 20 mins.... would you listen to it...?

Just an idea that will work, if you do. Make a goal of doing 2 mtgs per month, for the next couple of months, and see how it goes.