Introduction & Question

[JHoward]

Hello.

I've been lurking here for a few weeks and thought I should say hello. Before I ask my question(s) I would like to compliment you folks. You people are some of the friendliest, most knowledgable and most professional people that I've encountered! I used to have a less than favorable opinion of insurance agents. You have definitely changed my opinion. I mean that sincerely.

I have been working in the insurance industry for a specialty P&C company on the underwriting side for 10 years. Recently I was offered to join an agency. However, for my own reasons, my current passion is to get involved in the life/health insurance industry. My question(s) are:

1) Is there any reason NOT to be both a P&C agent and a Life/Health agent?

2) Are there health insurance companies out there that will take on new, inexperienced independent agents? (is it even a good idea for me to take this course given my lack of experience in the life/health field?)

Thank you in advance for your feedback.

JHoward

 

[Crabcake Johnny]

Welcome - our forte here is trying to give new agents solid advice so you don't make a lot of the mistakes we made.

1) In theory you could be a P&C agent and life/health agent although I think that's a lot to bite off. I'd recommend building a book of business in the life/health industry first then go for P&C clients from your life/health book.

2) No. And that's unfortunate. Most new agents end up getting a bad deal and large agencies feed off new agents by low commissions and crappy contracts in general. Understand that agencies that deal with newbies soon come to find that even with fantastic training and support very few make it. Because of that they must take a "throw it against the wall and see who sticks" mentality.

Your best course of action is to go direct with the health companies and let some of us on this board help you get off the ground.

 

[JHoward]

Thanks John.

Actually, I was thinking that possibly it would work the other way. I have a lot of contacts in the specialty field that I would be going into. My P&C book would (hopefully) grow quickly and ideally I would be able to use the P&C book as possible leads for the life/health side.

However, if it's not practical to start out as an independent life/health agent then maybe it's moot point.

 

[Crabcake Johnny]

Well, first things first - what state are you in? That will tell a lot about your potential to write individual health.

 

[JHoward]

I'm in Texas.

Which brings up another question: How common is it for life/health agents to hold non-resident licenses in other states? Obviously, Texas is a big state with plenty of people. However, the agency I would be working for has business scattered around several states. In order to be able to use their current book as leads, I would need to be licensed in those states first.

 

[Crabcake Johnny]

Very easy:

http://www.licenseregistry.com/html/nrlWelcome.html Click "begin" and go choose some states.

In TX you'll want to be with Assurant, Aetna, Golden Rule, Unicare and Blue Cross.

 

[Sam]

Are your p&c contacts groups, or individuals?

 

[JHoward]

They are all individuals, some are small business owners.

 

[natem2112]

If you do get involved in P & C....be prepared to do a LOT of service work after awhile...you may want to have the funds to set some support staff in place first.

Aftter you build that book of business to a certain size, you will be so busy fiinding quotes for their new car, new ATV,Motorcycle...Daughter turning 16 ect.

Health, believe it or not is not going to be as service intensive, plus your commisions are a LOT bigger.

Build the health side first would be my advice also.