Insurance advice

[indienoise]

Stop selling just on price
Quit using your newly found independence to constantly remarket accounts.
Stop trying to let your clients have their cake and eat it too. Make them value your time and service. Don't work so many weekends, it really doesn't build loyalty.
Don't waste time with internet leads, build your business your way.

 

[rousemark]

Some of my co workers that remained on the debit for 30+ years are now doing quite well with the retirement income they have from the captive company. Unlike renewal income, it does not drop or stop if you live a long time after retiring.

I should have said, remained with the debit company and not "on the debit" because most went into management...

 

[Caryn Montague]

Rousemark: It's hard to believe there are still debit companies out there! My dad had a debit w/ Pru. He passed very young, in 1971, and debits were on their way out then!!!

 

[rousemark]

Rousemark: It's hard to believe there are still debit companies out there! My dad had a debit w/ Pru. He passed very young, in 1971, and debits were on their way out then!!!

I started in 1971 with National Life and Accident.. Later bought by American Gneral and merged into Life and Casualty to form AGLA... Over the years they bought most of the still existing debit companies, Home Beneficial, Independent, Interstate, Gulf Life and others. They only stopped their debit operations about a year ago. Still have United Insurance Company of America in this area. Columbia has a debit system that they run with Independent General Agents.. I inherited a small debit with them from a friend of mine when he finally hung it up.. With the exception of one client everybody mails their premium to me so it it an easy 20% renewal income.. Even the one is no problem as I go with a 1/4 mile of her house several times every month and she has the money waiting anytime I want to stop.

 

[WolfpackAgent]

Remember your first job is to take care of the customers. Don't just be hocking policies. Go the extra mile, follow up on not just quotes you want to write, but on claims, endorsements, customer moves and the like.

 

[shonceman]

Some of my co workers that remained on the debit for 30+ years are now doing quite well with the retirement income they have from the captive company. Unlike renewal income, it does not drop or stop if you live a long time after retiring.

When AGLA split their operation into the Sales division and the Service division, I took a wrong turn. My manager went Sales and I went with him. He stripped his books, giving up most of the clientele to the service division. Only the bank drafted business stayed with us. On hindsight, I sometimes wish i’d gone to the service division & stayed on the debit. I probably would have stayed until they terminated all the agents last year. The sales division was a mess! They never got their act together. I ended up going independent within a couple of years, and eventually built up my own debit book, along with my FE & ordinary book, and doing better than I ever did as a captive. But I probably won’t retire as early as I might have.

 

[mudhound]

I'd do the very same!
I worded a debit for 7 years. I saved money and still have a small retirement coming from those days.
I went non captive and now i have a HUGE renewal base to retire on again.