I'm Yet Another Newbie to the Industry.

Aug 7, 2016

  1. runtilmylegsdrpoff
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    runtilmylegsdrpoff Expert

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    Hello, I am new to the Insurance industry, unlicensed, and looking to learn a lot from everyone here on the forum. Just looking for the best way to get started in the industry.
     
  2. thomasm
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    thomasm Guru

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    First figure out what type of insurance or what market you'd like to pursue.

    Final Expense? Medicare Supplement? P&C?

    Make sure you understand the market and demographic of each line before you jump in. Once you've narrowed it down, shadow with someone to get a feel for if you could handle this type if work day in and day out.

    Then get licensed and find a good upline to train you that won't end up screwing you in the process.
     
    thomasm, Aug 7, 2016
    #2
  3. runtilmylegsdrpoff
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    runtilmylegsdrpoff Expert

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    Preferably anything very lucrative, (hope that isn't too shallow, lol). I'd like to probably steer clear of P & C because I don't want a lot of servicing clients after a closed sale.

    I've read many things about Whole life, which I believe is usually a higher commission than term so that's definitely attractive to me.

    I want to steer clear of those places that are just looking to get newbies on board, sell to all their friends and family, and then spit them out after they can't find anymore clients then tell them goodbye and thanks for playing. I know there's lots of companies like that and I'd rather avoid them.

    Another type company I want to stay away from are the ones where they take a disproportionate larger share of the commission and/or have high overhead costs payable by you. Now I know I don't have any experience/knowledge about the industry so I'd be willing to make some trade-offs based on that, I just don't want to sell myself short and have things be more difficult than it really needs to be because I am new.
     
  4. AboutThatLife
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    Whole life does have higher premiums. You also need to note that it has stricter underwriting requirements. All you have to do is go on any carrier website to see that the average premium is somewhere between $600-1000 a month. Just walk in there telling them they can become their own bank and the ears will perk up. The nature of the concept means retention will be high.

    Finding the sale each month requires most of the work. After that I usually vacation until the next month. The hardest part is finding people with good credit so that they don't withdraw all the money from their "bank" and not pay it back. That doesn't look good for your renewals.
     
  5. runtilmylegsdrpoff
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    runtilmylegsdrpoff Expert

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    Sounds like you're living the dream.:)
     
  6. goillini52
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    goillini52 MAGA...Eat More Bacon & BUILD THAT WALL!!!

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    Sounds like Final Expense(Whole Life) might be right for you. It's simple to learn, pays high commissions quickly and as you learn, you can expand to the traditional whole life that AboutThatLife's referring to. I wouldn't count on writing those right off the bat.
     
  7. runtilmylegsdrpoff
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    runtilmylegsdrpoff Expert

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    I was looking at Indeed for Insurance jobs with final expense and I couldn't find any.
     
  8. pcbinsurance
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    pcbinsurance Guru

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    Just cruise on over to the Final Expense Forum. You will be wooed by heavy hitters, lightweights, and everything in between. BEWARE of those who private message you quickly, as they are usually the ones who are the least transparent.

    That Forum has a way of weeding out the real deal from the posers.

    Good Luck. This avenue is much more attainable than the pipe dream offered up in post #4.
     
  9. runtilmylegsdrpoff
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    runtilmylegsdrpoff Expert

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    Haha, thanks. That's the funny thing about the Insurance industry, it's similar to the Financial/Real Estate industries in that you have everything from posers, people with nefarious motivations, downright criminals, and a few true Professionals. I'm just green as heck and trying to start off on the right foot, build a great reputation of integrity, professionalism and honesty and hopefully make some serious money without compromising those values.
     
  10. jdeasy
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    jdeasy Guru

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    First things first. Get your license.
     
    jdeasy, Aug 8, 2016
    #10