Insurance Agent Job Offer. How To Start ?

[family guy]

Hello,


I am new to the insurance business and have a lot of questions about joining the field. I will be graduating from college in a month with a Bachelor's of Business Administration with a concentration in Sports Management. Just recently I had a lunch interview with an insurance company about becoming a sales agent. I have no experience with insurance and have a little some experience with sales. A friend of the family referred me to the guy hiring for the company. Things went very well at the interview and it sounds like they are very interested and if I'm interested, we will get started. There was a lot of information given to me and I'm hoping that I can get some information about starting the insurance businesses from the beginning.


Here is a list of things I was told I would need to do to get started


1. Profile test…pass it and then move on…
2. Licensing L/H and P/C Test…It sounds like I have to pay for the tests…$600 sound right?
- How hard are these tests? What goes into studying for them?
3. Pass the test… I then I go to a 2 week career school


After I have completed all the following…I guess they would then help me get started up and would do so for the first 5 years (100% first year, 80% second year, 60% third year, 40% fourth year, 20% fifth year)… not sure if I have to go find clients or not.


Then I got a little confused about the first year, but this is what I think it would be. I guess they would pay $3,000 + commission a week, but after time the $3,000 would drop down $2,400 + commission and then + bonuses. I'm not sure what kind of benefits I would get and when they would start.


-Examples of office expenses they help out with for the first 5 years: (Rent, Supply, Snow Removal, Electricity, phone)
-Examples of my personal expenses: (E & O....$125, Vehicle, Clothes, Postage, 1/2 of the advertising)

After the 5 years I guess I would then begin to pay back the expenses I used to start and they would do this by taking out a percentage of my commission. I am 25 from Michigan and will be getting married in 1 ½ years and want to have a good paying job that is stable. I am just seeing if anyone with experience has any comments about my job offer or anything that I might be missing about getting started…thanks a lot for the help!!

 

[DJM]

Re: Insurance Agent Job Offer...How To Start??

Hello,


I am new to the insurance business and have a lot of questions about joining the field. I will be graduating from college in a month with a Bachelor's of Business Administration with a concentration in Sports Management. Just recently I had a lunch interview with an insurance company about becoming a sales agent. I have no experience with insurance and have a little some experience with sales. A friend of the family referred me to the guy hiring for the company. Things went very well at the interview and it sounds like they are very interested and if I'm interested, we will get started. There was a lot of information given to me and I'm hoping that I can get some information about starting the insurance businesses from the beginning.


Here is a list of things I was told I would need to do to get started


1. Profile test…pass it and then move on…
2. Licensing L/H and P/C Test…It sounds like I have to pay for the tests…$600 sound right?
- How hard are these tests? What goes into studying for them?
3. Pass the test… I then I go to a 2 week career school


After I have completed all the following…I guess they would then help me get started up and would do so for the first 5 years (100% first year, 80% second year, 60% third year, 40% fourth year, 20% fifth year)… not sure if I have to go find clients or not.


Then I got a little confused about the first year, but this is what I think it would be. I guess they would pay $3,000 + commission a week, but after time the $3,000 would drop down $2,400 + commission and then + bonuses. I'm not sure what kind of benefits I would get and when they would start.


-Examples of office expenses they help out with for the first 5 years: (Rent, Supply, Snow Removal, Electricity, phone)
-Examples of my personal expenses: (E & O....$125, Vehicle, Clothes, Postage, 1/2 of the advertising)

After the 5 years I guess I would then begin to pay back the expenses I used to start and they would do this by taking out a percentage of my commission. I am 25 from Michigan and will be getting married in 1 ½ years and want to have a good paying job that is stable. I am just seeing if anyone with experience has any comments about my job offer or anything that I might be missing about getting started…thanks a lot for the help!!

im from michigan myself. shoot me an email if you wanna chat about your situation. I will try to help you out

 

[Slim]

Re: Insurance Agent Job Offer...How To Start??

First thing to know is you had a lunch/interview with a RECRUITER not a Company.

Bash me if I am wrong but if you don't see an offer in writing it's not worth the paper it isn't written on.

I was told recently by the wife of a MENSA (i can't even spell mensa) dude, that an MBA is not worth much if you haven't been using it already. It is probably the same with a Bachelor's of Business Administration with an emphasis in anything.

That being said, the only promise a successful Company will set in stone to an Insurance Agent (which is what you will be after you pass your licensing exams) is that you will get paid if you produce.

Now set that all aside and know this:

If any Company will help you get started up for the first five years jump all over it if you believe it.

Good luck.

 

[Paradigm]

Re: Insurance Agent Job Offer...How To Start??

As someone who does have an MBA; I can tell you they are good for only two things impressing the hiring manager when you first get hired to get a higher comp. package and for promotion if already in a corporate job.

For the self employed business person they are useless unless you feel you need a bunch of letters after your name for credibility due to either lack of experience or confidence.

Your time would be better spent getting a CFP, CLU or other industry training that is specific to your career rather than generalist training that has no specific application to being a self employed business owner, advisor or consultant.

 

[xrac]

Re: Insurance Agent Job Offer...How To Start??

As someone who does have an MBA; I can tell you they are good for only two things impressing the hiring manager when you first get hired to get a higher comp. package and for promotion if already in a corporate job.

For the self employed business person they are useless unless you feel you need a bunch of letters after your name for credibility due to either lack of experience or confidence.

Your time would be better spent getting a CFP, CLU or other industry training that is specific to your career rather than generalist training that has no specific application to being a self employed business owner, advisor or consultant.

I agree! If you are in this business the CFP, CLU, LUTC or ChFC is much more valuable.

 

[StrategyMan]

I third that statement, and I have an MBA as well.

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