If You Could Start All Over Again?

[Frank Stastny]

If you had to start all over again, knowing what you know now, what company would you go with and why?

First let me say I would not start by talking to people I know. It is the fastest way I know of to lose friends. After you become an "expert" at the insurance you decide to sell then you may want to try to help them out.

If I was to start over again and know what I do now I would have started as an independent agent. The only other thing that I would do different is that I would have started a long time before I did.

Insurance, specifically the senior market, has been extremely good to me.

 

[Crabcake Johnny]

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I stared captive and would have gone indie from the start. I really don't see a single reason to be captive - it's much lower commissions, no leads, "iffy" training and in the end you're generating your own business at typically half the commission.

You're also in a sales presentation when you're only showing one carrier and it's all but impossible to get around the inevitable "we're like to compare other options." It's also tough to watch your business evaporate as another agent swoops in after you with more affordable options.

I'm sure captive carriers had it a lot easier back in the day but this is the day and age of consumer shopping and comparing. And without a full portfolio of carriers I can't see it happening.

 

[jody108]

Hello, and thanks for reading this and possibly helping me make a decision. I am in my 50's with a successful period in sales behind me (IT systems and services, and real estate). I am interested in getting into the L&H sector of this industry. It seems everyone I am talking to will give me a shot. New York Life, Northwestern Mutual, American General, and just about every other office I talk to. Yes, I am doing my homework. One thing I have gotten from this board which I believe to be true is that the office manager has more to do with the agent's success than anything else. And guess what? I have NO PROBLEM contacting everyone I know and talking to them about what is best for them! Once I figure that out of course.
If you had to start all over again, knowing what you know now, what company would you go with and why?
I appreciate your time.
Thanks,
Newbie Dennis in SE PA

PS This place is GREAT!!!!

If I could start all over, i would finish college and get a job. But since i didn't do that, I'd say I was lucky where I started.

This forum helped me not go captive and, rather, I started as semi independent with a company called equita.

They helped teach me the business but I didn't have a lot of money to show for it ....

So I went completely independent and it's working out really well.

Most captive places are burn em and churn em .... and out you go .... or you bust your ass, make them lots of money and then out you go ... with no renewals ...

Captive companies seem to thrive on fresh blood ... those who know nothing about the business.

I'm convinced that is how they make their money. They pay you next to nothing, have you cold calling and door knocking day after day ... you make sale after sale ... and then you get tired of it and walk out ... now they have your book of business .. they keep whatever commissions you haven't been paid, keep all or most of the renewals and hire the next sucker.

Ever been to a Bankers hiring seminar ... they do that 2 or 3 times a week. They are a hiring machine.

I guess when you are paying salesmen commission only, you don't have much to lose .... just time.

Every once in awhile, you will get a guy that kills it and he becomes the next manager ... now he's got his fat salary and continues the extortion of new blood ...

whoa ... I don't really know what i'm talking about ...

Don't listen to me ... I'm tired and I sick of hearing from guys that say how much it sucked at those captive companies ...

Personally, find a guy that is good and stick by his side ... do what he does ... that is what i did and it worked well.

Well, not money wise ... they got most of my money ... but I learned how to sell insurance ... that's for sure.

Man, it's finally cold in TEXAS ....YAY!

 

[tospears]

Totally agreeing with everyone here about selling family and friends. A few conversations about your new career choice will suffice. It has been my experience that they are less willing to have you "making money off of them". When they need you, they'll call you.

 

[cmullen73]

This is helping me quite a bit. From the information gathered it seems it would be best for me to join a non-captive agency and get on the phones or use some other marketing plan to get appointments part-time until I build a clientele.

 

[carroll]

First let me say I would not start by talking to people I know. It is the fastest way I know of to lose friends. After you become an "expert" at the insurance you decide to sell then you may want to try to help them out.

If I was to start over again and know what I do now I would have started as an independent agent. The only other thing that I would do different is that I would have started a long time before I did.

Insurance, specifically the senior market, has been extremely good to me.

Frank, I'm sure you've told us once but tell me please how old you were when you started selling insurance full time.

 

[STIBROKER]

Frank, I'm sure you've told us once but tell me please how old you were when you started selling insurance full time.

he started in the womb.....by the time he could walk he was the first metlife debt agent and was picking up prems door to door every month......then the depression hit.....the rest is history.....

 

[CHUMPS FROM OXFORD]

And now, Frank knows more about Indiana Insurance than just about anybody!

WebNanny was not used in this post
Web"debit" was used in this post

 

[STIBROKER]

And now, Frank knows more about Indiana Insurance than just about anybody!

yes.....but when it comes to Estate Planning Life Insurance his estate is so big no one will touch him......

 

[steveadlman]

he started in the womb.....by the time he could walk he was the first metlife debt agent and was picking up prems door to door every month......then the depression hit.....the rest is history.....

Great post! Are you trying to say Frank is as old as dirt?