Have Questions; Need Advice Re Going Indy

[MichiganJD]

In MI, with offers from MML, NYL and NML. I am considering going Independent but don't quite know how to go about it.

I am interested in selling Life, Disability and LTC insurance. I will probably sell some Health as well but I will focus on Life and Disability.

Another thread on here was helpful in suggesting a place like Health Choice One as the one-stop solution for the Independent Health Agent.

1. Is there something similar for the Independent Life/Disability/LTC agent???

2. What is the appointment process like for the Independent agent? What will it be based on? What would prevent me from getting an appointment?

3. I would want to get appointments from all the major shops (Mass Mutual, NYL, Guardian, Met etc). Is that possible? What are the limitations? Will one prevent me from getting an appointment with another?

4. I am already licensed. I would really like to get to an entity like a Health Choice One (but designed more for the Life/Disability/LTC Agent) that would allow me to get appoinments with the top companies (Mass/NYL/SF/Guardian etc etc).

5. I welcome any comments/suggestions/warnings from the experienced agents that frequent these boards. Any input regarding commission structure is also welcome. Do I really come out significantly ahead by going Indy as opposed to sticking with a Company?

Thank you for your help.

 

[Norwayguy]

1. Is there something similar for the Independent Life/Disability/LTC agent???

Yes, There are many FMOs, BGA etc that have access to mutliple carriers. Many do multiple lines like Life, DI, Annuities etc. You are typically not captive to these orginizations so you might want to deal with mutliple offices and use ones that specialize in a particular line like DI etc.

2. What is the appointment process like for the Independent agent? What will it be based on? What would prevent me from getting an appointment?

They send you the appointment paperwork. You complete it and send in copies of E&O and License depending on the state you either then get an appointment or you might need to submit a piece of business first.

3. I would want to get appointments from all the major shops (Mass Mutual, NYL, Guardian, Met etc). Is that possible? What are the limitations? Will one prevent me from getting an appointment with another?

Okay Met is on the platform with many BGAs so thats an easy one....Mass Mutual and Guardian you will most likely need to contact the local GA and get a brokers contract...NYL is more difficult my understanding is that you need a figure premium case to get an appointed to sell their WL products....I know I've seen NYL term available at at least one Brokerage but never looked into it since if they won't let me convert their policies I don't want to add to their inventory. NWL is totally captive.

4. I am already licensed. I would really like to get to an entity like a Health Choice One (but designed more for the Life/Disability/LTC Agent) that would allow me to get appoinments with the top companies (Mass/NYL/SF/Guardian etc etc).

See answer number 3...SF? do you mean State Farm?

 

[Guest]

use the search function, there are probally dozens of threads about this

 

[Norwayguy]

use the search function, there are probally dozens of threads about this

You know after thinking about your response for 5 seconds I realize it is a better response than mine...If you are planning on going Indie you better get used to the idea of figuring it out yourself or being able to search for the answer.

Not ragging on the op just trying to let you know what your in for.

 

[Guest]

You know after thinking about your response for 5 seconds I realize it is a better response than mine...If you are planning on going Indie you better get used to the idea of figuring it out yourself or being able to search for the answer.

Not ragging on the op just trying to let you know what your in for.

Well, you know, it seems like we answer the exact same quetion almost daily, stop being lazy and search for the answers.

I am sure I am not the only one that thinks that, so if the OP get 4 responses, they will obviously get MUCH more info from using the search function