How much investment does it take?

[myinsurebiz]

I'm wondering…in order to get into the insurance business, how much of an investment does it take? I have seen one thread below describing some pretty extensive sacrifices (one year without salary and a debt of 40k). Is this typical? Disregarding normal living expenses, how much investment or debt/loss would it take for the insurance business portion and for how long? Is it normal to least break even (after paying for insurance, tests, canceled policies, and leads) early on in the process? I realize there is a big learning curve and it requires time, but just wondering about what amount of cushion (for insurance business alone) should be prepared ahead of time? I’m not really keen on diving in without working some simple math first.

Depends on what type of insurance you want to sell?

Are you currently employed and making $$ some how?

Term and Final Expense is the easiest to get started.

Get with a company that will provide you leads & training to get you started as a Career Agent. Once you decide you like the biz and have 3 months living expenses in a safe - go Broker.

Good luck . . .

 

[SunnyDayForest]

Sorry that I’m asking questions that are basic. I am new to all this. P&C is the most difficult insurance track to get into? Should I know about some of the other tracks? I think with certain insurances, you’d only get residuals though for 10 years per client (correct?), so you’d have to continuously look for new clients in that case.
Well, at least you weren’t in the red the first year and were in fact able to net a small amount. Thanks for the information.

 

[SunnyDayForest]

also...are the residuals something that we can will to our heirs in case we were to pass away?

 

[SunnyDayForest]

After reading suggestions here and listening to BGA videos, it seems there is a recommendation to start out selling insurance as an employee. Could anyone recommend an insurance agency to work for in order to learn the trade of selling insurance without the risk of being independent?