How to begin a career in insurance sales

[realistagent]

My advice. Get quality training, read your contract. If you are a captive agent, leave a company, especially within the first 2-5 years, and you give up all residuals it really can cost you. It cost me over $20,000 to leave the Knights of Columbus, but the training I recieved was second to none.

 

[maxreferrals]

Locate one or two proven, experienced and successful local agents. Reach out to them and share you goals and dreams, and ask them if they can lend you advice.

Attempt to meet them and develop a relationship and even ask if they would allow you to shadow and mentor them.

You'll be amazed at how receptive people will be, and how much they do enjoy sharing what they do with others.

 

[Steve]

Good advice from everyone, but there's one point that seems "double-edged."

We (new agents) need solid training in the field.

Most of the active members here are independent and biased to the benefits of being independent, yet most also seem to agree that the best place to get proper training is with a good, captive agency.

If any of you were to do it all over again and start at zero insurance experience, how would you begin?

(My licensing is almost complete, and I am about to pull the trigger with a group that I view as a good, solid, stable and honest captive group.)

 

[J.R.]

Good advice from everyone, but there's one point that seems "double-edged."

We (new agents) need solid training in the field.

Most of the active members here are independent and biased to the benefits of being independent, yet most also seem to agree that the best place to get proper training is with a good, captive agency.

If any of you were to do it all over again and start at zero insurance experience, how would you begin?

(My licensing is almost complete, and I am about to pull the trigger with a group that I view as a good, solid, stable and honest captive group.)

MEGA ALL THE WAY!!!!

Joking aside, if I started all over again I would do the following.

Work for a captive company for 3-12 months. During this time I would make it my mission to attain as much knowledge about my field from the pros who are "ethical." You will gain the knowledge to assess that from reading this forum.

Secondly, I would find out who the top indy's are in my area and find out if they are taking on new agents.

Lastly, start my own agency using the knowledge and experience from steps 1 and 2.

 

[Crabcake Johnny]

It's very difficult watching people enter this business. It indeed is a double-edged sword. I can't imagine not being independent since I need to sell an array of plans, mainly due to underwriting, to make good money.

However, that didn't seem to stop me when I was with Mega and I was pounding out $15,000 AV per week. I think I really needed that one-on-one management and captive companies normally hold your feet to the fire when it comes to production - which a lot of new agents need.

If the product you're selling are solid I absolutely recommend going with an agency first. It's almost like coming out of cooking school as a chef. Do you really want to immediately open your own restaurant or do you want experience first?

I also think if you look at some of the top selling agents in the country, they are captive agents.

 

[Steve]

Thank you for confirming what I had been thinking, John. I appreciate the feedback.

 

[Send4linda]

Thanks to everyone for the advice. I am still looking at all my options, but I think I have a action plan.

One company I am looking at tells me they require me to have P&C before they would hire me, then I would need to get my Life & health within 6 months.

A different company tells me they will train me for my life & health, but that is all they sell.

In NY, if you work for an agency, I don't think you have to attend classes or take Part 1 on the exam, just Part 2. Anyone confused?

I am going to talk to my agent first, then move on from there until I find someone who will mentor me or hire me.

 

[J.R.]

Thanks to everyone for the advice. I am still looking at all my options, but I think I have a action plan.

One company I am looking at tells me they require me to have P&C before they would hire me, then I would need to get my Life & health within 6 months.

A different company tells me they will train me for my life & health, but that is all they sell.

In NY, if you work for an agency, I don't think you have to attend classes or take Part 1 on the exam, just Part 2. Anyone confused?

I am going to talk to my agent first, then move on from there until I find someone who will mentor me or hire me.

It is up to each individual to determine if he or she takes a class. I think it is a waste of money, as you can go to your local library, pick up a copy of a study guide for the Life/Health Exam and study the material without paying $100+ for the class.

I had a friend take the pre-licensing class quite a few times and could not pass the Life/Health exams. I asked him what he hoped to accomplish taking the class more than once and he replied, "To learn and understand the information." I replied, "you could accomplish the same objective by buying me lunch and I can help you learn the material." He had poor study habits and was not willing to "work" to learn the basics. He know sells wine to small business owners.

-J.R.

 

[Crabcake Johnny]

Except in MD the pre-licensing class is mandatory.

 

[J.R.]

Except in MD the pre-licensing class is mandatory.

Quite true John. I should have also the mentioned the fact that the classes my friend took was in addition to the pre-licensing credits we obtained through MEGA.