How to Become Independent

[DHK]

I would spend time at a semi-captive agency - such as MassMutual or Guardian. You need to learn the business and these firms will let you continue to service your clients after you leave the career agency.

Plan your exit before you start.

 

[Broker007]

"Plan your exit before you start", excellent advice.

 

[mr_jpt]

What is the difference between a BGA and an FMO?
Also, what do I need, as an Indy, for E&O Insurance, and where can I get a good deal on it? I am licensed for Life and Health and want to focus on the senior market.
Thanks!!!

 

[bhoward]

You can get E & O from Marsh pretty cheap and by the month.

 

[Virtualinagency]

I work with ritter, they offer me and my agents great tools...

 

[lifeisarisk]

Hi I am going indy. Can someone tell me if is ok to use email to communicate with clients once you are independent. When I was captive email had to go through compliance. Also what about chatting with clients online regarding insurance?

 

[pomfin]

Hi I am going indy. Can someone tell me if is ok to use email to communicate with clients once you are independent. When I was captive email had to go through compliance. Also what about chatting with clients online regarding insurance?

I thought communicate with client using email is fine unless you are a security rep. In that case, everything has to go through compliance.

 

[WILDCAT-MATT]

What about BGA's in Kentucky? Anyone have the names of those master agencies? Thank you.

 

[peopleperson]

I had a post on here a few months ago asking if I should start out indy, or go captive to learn a little bit and then go indy. At that time it was an overwhelming go captive first. I'm reading this thread and it seems to be that every one is saying go indy. It also seems that all of the captive organizations are trying to financially rape you every time you turn around. There are more All State offices for sale they must really suck, SF puts you in the hole 50K+ up front, Farmers does as well they give you money but then want it back if they decide your not up to par plus they want you to spend your own money on marketing. I understand it cost money to start a business, but it seems the chips are stacked against you from the start. Does any one know of a BGA/GA in the Las Vegas area? I think that is the route to pursue. Just my opinion.

I'm among those who recommends going captive. I replace a lot of policys written by new agents working in their first year with a BGA. They often don't know what they're doing and don't know the market. In the right captive company setting you get a base of business that has formed a loyatly to that particular company for whatever reason.

I replace those as well. But you get some base pay and benes while working at many captive postions and it can give you room to breath while learning.

 

[Guest]

Great post from Rocky but what's a
B G A ?