I'm Thinking of Going Independent - Need Advice

tgard27

New Member
13
Unfortunately I started my career in insurance with Bankers Life. I've been selling Medicare, annuities and life with success but there are numerous problems with this company (clients being charged multiple times per month, waiting 3 plus months for fully underwritten life insurance policies to issue, lack of competitive products and low commission rates). With saying this, I have learned a lot on selling and prospecting, nonetheless the commission and product issue is leading me to venture to either go with a new company or go completely independent. I want to stay in the senior market and I live in Missouri.

Who here has gone from captive to independent? What companies should I be looking to license with and who should I go with for errors and omissions? I appreciate any advice given.

Tom
 
Unfortunately I started my career in insurance with Bankers Life. I've been selling Medicare, annuities and life with success but there are numerous problems with this company (clients being charged multiple times per month, waiting 3 plus months for fully underwritten life insurance policies to issue, lack of competitive products and low commission rates). With saying this, I have learned a lot on selling and prospecting, nonetheless the commission and product issue is leading me to venture to either go with a new company or go completely independent. I want to stay in the senior market and I live in Missouri. Who here has gone from captive to independent? What companies should I be looking to license with and who should I go with for errors and omissions? I appreciate any advice given. Tom

I was once where you are about 6 years ago. Go Indy now that you've learned the ropes. It's perfect.

Check out premiersmi.com for a lot of contracts and they have E&O too for a good price
They also do a lead co op
 
Thanks so much for your response! What was the biggest hurdle for you in your transition from captive to independent?
 
Thanks so much for your response! What was the biggest hurdle for you in your transition from captive to independent?

Just keeping a constant lead flow. I didn't make much at all when I was captive so I was doing a lot of cold calls. Finally when I had enough to buy leads I did.
 
lol...unfortunately i spent 10 plus years there....i joined ASB...still thinking about complete solo though.
 
Unfortunately I started my career in insurance with Bankers Life. I've been selling Medicare, annuities and life with success but there are numerous problems with this company (clients being charged multiple times per month, waiting 3 plus months for fully underwritten life insurance policies to issue, lack of competitive products and low commission rates). With saying this, I have learned a lot on selling and prospecting, nonetheless the commission and product issue is leading me to venture to either go with a new company or go completely independent. I want to stay in the senior market and I live in Missouri.

Who here has gone from captive to independent? What companies should I be looking to license with and who should I go with for errors and omissions? I appreciate any advice given.

Tom

What market do you intend to make your focus?
 
yep...i needed to get going quick. since i knew alot of people there i went with it...owner is a good guy but questioning my book ownership etc...since only a fmo
 
yep...i needed to get going quick. since i knew alot of people there i went with it...owner is a good guy but questioning my book ownership etc...since only a fmo

It's pretty much a bankers set up. Why not go it alone? You must know already how to market I assume? Why wouldn't you want to keep your own clients and book?

ASB will tell you it's 3 year vesting but they'll screw you. I left after one year but a guy that left with me was there over 3 years and as soon as he left frank and Nick mailed all of his clients and let them know that he was no longer in the business and ASB would take over for the client. He was told he couldn't contact any of his clients, but he did anyways and had to change most of them.

I don't understand why you would want to give up a lot of your commissions for literally nothing in return.
 
Back
Top