Go Independent or Go with an Established Agency?

[Insurance Chick]

Ok,

I'm taking my ALH test on Jan 18th, and am going to pass. The question I have is this: Do I attempt to start my own independent agency (I have a building at my disposal) or should I get my feet wet and go with someone like Aflac or State Farm? I want to focus on life and long-term care, and am not afraid to put in the hours to make my career successful. Any ideas, or any personal experiences from working either as a new agent? Thanks!

 

[patch36]

Neither Life or LTC are strong suits of the companies you mention.

There is much written about both companies here and if you use the search function on the top toolbar you will find more than you may want to know.

Eventually you will want to be independent. Very few people end up liking or succeeding as a captive agent. Now that I think about it, very few survive and succeed as an independent either.

Getting started is hard on your own. Look at some of the folks here who have organization, associations and marketing groups. Surely you can find a fit, some education, and a mentor to help you get started.

I was an Aflac agent long enough to finish the training and work a couple days. I learned some things about insurance but was totally disillusioned about the products, marketing methods, and MLM approach of the company. State Farm is a good company, but very difficult to succeed in and from what I have read here, not much different than being a Farmers agent, which I was. It is a grind and a very long time before you make any real money. If you are looking for the ego trip of hanging a sign with a logo and having a storefront and hustling family and friends, perhaps it will work...

If you have to go captive, look at the major Life companies, according to what you said your interests are.

 

[Newby]

Ok,

I'm taking my ALH test on Jan 18th, and am going to pass. The question I have is this: Do I attempt to start my own independent agency (I have a building at my disposal) or should I get my feet wet and go with someone like Aflac or State Farm? I want to focus on life and long-term care, and am not afraid to put in the hours to make my career successful. Any ideas, or any personal experiences from working either as a new agent? Thanks!

AFLAC and State Farm are not really in the Life and Long-Term Care part of the business to any great extent. State Farm is mainly focused on auto and home insurance. AFLAC is gimmicky employee benefits. Neither will get you where you want to be in my opinion.

I recommend you look for either
1. a good local independent agency to work under
1. New York Life
3. Mass Mutual
4. Northwestern Mutual
5. Any well established and successful agent that will take you under his/her wing and get you going.

 

[The Rabbi]

Go with State Farm. They have a book of business for you to use. Once you learn the business, go indy or become a career agent with them.

 

[Ray Ray]

There's not just one Insurance Company that has every product you need to be able to service your clients competitively. So even if you go to work for a Major Company you will still end up contracting with some outside carriers and placing business with them. Provided the Major Company you work for will allow you to do so. NYL and NWM don't really allow their captive agents to contract with outside carriers.

I would suggest you go into the Life and/or Disability Income side of the business. For Disability Income consider Guardian, Provident or The Principle. If you go into the Health business you could end up working for the Government or find yourself out of business in the near future??

 

[Vitamin C]

I'm liking independent. You will need LEADS and a MENTOR.

I'm brand new as well.

 

[JSD8675]

I was counseled by a good family member who has been in the business for years. He told me the best thing to do, is, regardless of the vesting involved, go with a well established, well-recommended independent agency, get my feet wet, learn the business, build an income, invest the income, then have a good, experienced chance at my own agency in ~5 years.

Then again, I'm 25 and single, with no kids, so that may have been a factor in their recommendation. 50 grand for me a year in is more than enough to get me by. It might not be for you.

He told me going independent with no experience in insurance was suicide, and that working in a call center for Geico would take me nowhere quick.

 

[NyRisk]

I also worked at Geico for 2 yrs. That was the worst. The call monitoring was ridiculous. I am now with well known agency here in NY. I need to get my license. I don't know where to take this insurance career of mine. Im debating on finishing my BA and getting licensed, then getting a well paying job with a major carrier or just open an agency later on.. !!! ?

 

[xrac]

Ok,

I'm taking my ALH test on Jan 18th, and am going to pass. The question I have is this: Do I attempt to start my own independent agency (I have a building at my disposal) or should I get my feet wet and go with someone like Aflac or State Farm? I want to focus on life and long-term care, and am not afraid to put in the hours to make my career successful. Any ideas, or any personal experiences from working either as a new agent? Thanks!

Based upon your post I think you need to start somewhere that you can get some training and find a mentor. If you would to do Life and LTCI I would suggest talking to MM, NWM, Guardian, NYL, Metlife, Mutual of Omaha, etc.

 

[medicarebenefitsdirect]

Independent is the ONLY way to go in my opinion.