Hello, I Am a Recovering Insurance Agent

[TomHoffman]

Good Morning,

Just today found this forum and was really wishing that it would have been available 20+ years ago. What a wonderful rescourse for a new or experienced agent to get help from kind people who are willing to help.

I have been in the Insurance Business about 20 years ago. I got out to follow fame and fortune in to the building trades and built homes during this last bubble.

I just wasn't smart enough to get out while the getting was good and had all my profits tied up in a really big house waiting for the big pay off when everyting went down the toilet last fall.

Now I am back looking for a way to make a living and am looking for a way into the Final Expense market. I am of an age where I will be needing it soon my self.

I look forward to re learning the business, this forum will be very helpful.

Regards,

Tom...

 

[Mark]

Re: Hello, My Name is Tom, I Am a Recovering Ins Agent.

Welcome to the Forum!

 

[insuranceexec]

Re: Hello, My Name is Tom, I Am a Recovering Ins Agent.

Welcome to the forum. For a moment there I thought I was attending an IAA (Insurance Agent's Anonymous) meeting.............LOL.

 

[xrac]

Re: Hello, My Name is Tom, I Am a Recovering Ins Agent.

Tom, you are right. If the forums like this and TGP had been a round earlier it could have saved some us a lot of grief and could have possible saved our insurance careers or at least made them more successful sooner. Tell us a little about you earlier insurance experience.

 

[myinsurebiz]

Re: Hello, My Name is Tom, I Am a Recovering Ins Agent.

Final Expense is a good choice. It's affordable. It's quick issue. It's quick to pay . . .

I read on the internet that every 7 seconds a new baby boomer turns 50.

Easy Issue Mortgage Protection Term with ROP is also a good fit.

Baby Boomers Drive Second-Home Purchases

Approximately 35% of all home sales in 2004 to 2008 were second-home purchases, and baby boomers make up the majority of buyers for this growing trend.

Boomers have both the means and the motivation to take advantage of the attractive housing market, and they represent a high percentage of the population.

From one Tom to another - Good Luck!

 

[Todd King]

Welcome to the Forum and back to the world of insurance.

 

[somarco]

Al Gore had not yet invented the internet 20 years ago . . .

 

[TomHoffman]

Just a little back ground info.

Got into life production in 83 doing replacement of old whole life with new interest sensitive UL or Interest Sensitive Limited Pay Life.

A younger brother and I started our own agency after working for a short time for a large agency doing replacement with deposit term.

I discovered that deposite term was a rip off for all concerned except the MGA.

I found our own carrier and got a MGA contract to market 7 pay interest sensative WL and very shortly the company district manager called me and asked me who the heck we were, we were out producing all of his other agents combined and he had never heard of us.

Any way we met up with him and he invited us to be involved in a state (iowa) wide replacement of the old in house, then coming 20 year old Founders Policies.

At the beginning, we didn't know what we had stumbled into, but for the next 3 years it was unbelieveable. Then that bubble burst too, and since we had been spending money like a pair of drunken sailors. We were all of a sudden on the beach with no source of income, and no real knowledge of how to sell Life Insurance.

My brother went his own way, and I got into the Small Business Health Insurance with NASE and the various spin offs that came along during that time.

After beating my self against small business owners for about 3 years, and a divorce. I ended up out in the Pacific NW and started selling Windows, Siding and Sunrooms for a large Home remodeler and also for Sears for a short while.

Came back to Iowa in 92 got re married and got into Basement Waterproofing System sales in the fall of 92 just before the wettest summer 93' in the previous recorded history of weather stats. The whole state of Iowa was awash in flooded basements from ground water seepage from saturated ground.

When that ended, I got into Windows, Siding and Sunrooms with the states oldest and largest and best respected remodeler.

Worked there until 99' and then got into Owner Builder Homes sales and construction. Really loved that market. Then tried it on my own and that leads me to now and needing to get back into ins. I worked the final expense and mortgage ins during that history and like both of them, but the grass always seemed a little greener over the septic tank some where else. So here I am 20+ years older hopefully a little wiser and just want to go out and produce enough extra income to keep me in my hobbies, boat building, scuba diving, and retirement on a Bahamanian private Island (you bet). One can dream can't one??

I will post later some specific questions about the current markets and request some help.

Thanks for all the kind words.

Tom...

 

[magooandme]

Hello Tom, welcome to the forum and back to the world of insurance. I specialize in senior market sales of final expense life, Medicare Supplements and embarrassingly to say now Medicare Advantage. Used to sell Part D will have to read further on here why not to anymore.

 

[bluebunnyins]

Welcome Tom. Nice to see another IA resident. Related to any Hoffmans just south of me?