How to begin a career in insurance sales

Jan 9, 2007

  1. Send4linda
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    Send4linda New Member

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    I am interested in a career change . I have been in accounting for the last 18 years and have been very successful in that. But I thrive on challenges and have considered insurance before, but now I think I am ready to try it.

    I have no training. I would also need to be employed (making money) while training. How long does it take to get a license? How difficult is it? What are the different types of licenses involved with selling insurance. Which insurance should I consider: Life, Health, financial planning, property, casualty?

    I have thought about calling a local insurance agent to see if they would allow me to intern? to see if I would like it. Would they do it? I guess I need a mentor to answer the questions I have. I wanted to do this years ago, but I was not financially able to and put it on the backburner.

    I have been reading the posts on this board and would appreciate any help.
    Thanks! Linda
     
  2. Superchief
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    Superchief Guru

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    Check with your State's Department of Insurance for specifics on getting a license and what licenses are available. Different states have different requirements.

    As far as what type of insurance... pick something you like. Personally I like working with the elderly so I focus on Life & Health insurance for the Senior Market.

    There certainly are companies that will hire you, train you, help you get your license and put you in the field. If you're a newbie, this would probably be the best route, especially if you need income immediately. I do recommend though, that you research the companies extensively before choosing one.

    Also, look around on this forum some more, there are some other threads with very similar discussions.

    Good luck!
     
  3. Sam
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    Sam Founder Administrator

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    Hi Linda,
    let me ask you a few questions.
    1. Are you surrently working as an accountant?
    2. Do you have existing clients as an accountant that you could approach as an agent?
    3. What state are you located in?
    4. Are there any areas of insurance that you are particularly attracted to?
     
    Sam, Jan 9, 2007
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  4. Send4linda
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    Send4linda New Member

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    1. Are you surrently working as an accountant?
    I am currently working as an accountant

    2. Do you have existing clients as an accountant that you could approach as an agent?
    I do have a list of prospective clients. I have also have an income tax business with a handful of people I could approach.

    3. What state are you located in?
    I am located in Buffalo, NY

    4. Are there any areas of insurance that you are particularly attracted to?
    Health, Auto, Property.

    Two companies that I have reserched are Allstate and Combined NY, a parent company of AON. Any thoughts?
     
  5. retread
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    retread Guru

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    I am also interested

    When replying to Linda, please make some comments broad enough for others (such as myself) who have the same questions about getting started in this field but without business or accounting background. Thanks. :)
     
    retread, Jan 9, 2007
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  6. Crabcake Johnny
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    Crabcake Johnny Guru

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    The bottom line is this is a sales job and you need to be good at sales; ie; very good with relating to people. And no matter what agency you work through this is a commission job. Not many people can handle the income swings of 100% commission.

    First things first are you need to sell what you love and believe in. Do you have a burning passion for auto insurance? If not then don't sell it. Most agents do well with life products or individual health insurance. Individual health will be tough since you're in NY which is guaranteed issue.

    Do you have a working spouse?
     
  7. Send4linda
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    Send4linda New Member

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    Actually Auto insurance does interest me. So does health insurance. I wasn't sure how popular life insurance is.

    I'm not married.

    Is it impossible to make money while I learn and train.
     
  8. Sam
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    Sam Founder Administrator

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    It is possible to make money "whle you train", if you consider the first year of learning products to be training. However, it won't pay a living wage, for at least a few months.

    Also, NY has some very unique insurance laws. Health insurance is completely guaranteed issue, and the premiums are community rated, they don't even look at age.

    Life and annuities are also more heavily regulated in NY, and some companies will not write there.
     
    Sam, Jan 9, 2007
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  9. Crabcake Johnny
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    Crabcake Johnny Guru

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    Your first step will be to get licensed. No agency is gonna sit down and talk about training, salary and commission until you're licensed. Too many fail the test so they'd be wasting their time.

    Once you pass the test I'd start calling local agencies. Some might be willing to take you on with a modest salary while they teach you the products.
     
  10. Send4linda
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    Send4linda New Member

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    I have found two companies Allstate and Combined.
    Allstate:
    This program is an Allstate employee phase that lasts up to 18 months and includes the following: - Comprehensive education program - Base compensation with opportunity to earn incentive compensation - Work from a company owned/leased office location - Company provided office equipment and staff - Access to monthly marketing fund to help build a book of business
    Combined
    At National Income, your success equals our success. We are currently interviewing applicants from a wide variety of backgrounds and experience levels. If you are interested in joining a company with integrity and financial stabilityÂ… apply today! We help our agents achieve their financial success by providing free quality leads on a weekly basis. Whether you have in-depth experience or no sales experience at all, please donÂ’t hesitate to apply. Interviews are being scheduled this week.

    We are a leader in meeting the insurance needs of families all across the country, and we are committed to providing full support and quality leads to our Field Representatives.

    When you join our team you can receive:
    Fantastic Benefits Package
    Excellent Bonuses
    Quality Training With Experienced Agents And Managers
    Yearly Incentive Trips
    Free Quality Leads Weekly
    Additional Residual Earnings

    Do you think these are legit?
     
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