Life Insurance Companies for Independent Agents?

[MarketingGuru]

Hi there! I have a few questions for you seasoned pros.

1. Which life insurance companies work with independent agents who work from home as opposed to companies who require you to report or apply to an existing agency? I am mainly interested in mutuals such as Ohio National (and I know their setup is exactly what I'm looking for). I have a mentor (my dad--he's been in the industry for decades and has found it to be a very fulfilling career). What I'd like to do is to get my own contracts, have him go on the appointments with me and do the talking, do the applications myself and share the commission. Anyway, do companies such as MassMutual support this kind of arrangement (contracting with independent agents)? What other companies should I consider? Obviously I would need something without high production requirements for new agents.

2. I also want to look into my options as far as selling MediGap coverage and LTC. Is there any kind of company where an independent agent can have a single contract and represent multiple reputable agencies? Again, what companies should I consider?

3. I'm curious if there are any products (life or health) where a female agent might have an advantage in sales? I have read that women do well selling Med Supps but I don't know if that's a bunch of Internet silliness.

I know it's best to choose one product and learn how to sell it well--I just want to consider all of my options before I get started. My dad is a life agent so I've been thinking I should start there. I am also very interested in selling Med Supps (the idea of helping seniors find good coverage appeals to me).

Thanks in advance for your advice!

 

[Chazm]

As far as Med Supps go, you need to contract with each company, as far as I know of. There are plenty of FMO's here and around that can give you contracts. Just make sure you are the agent of record and you aren't assigning commissions to anyone.

Same goes for life insurance. Just start contracting with companies. If you dad has been in the biz for decades, shouldn't he have a grasp of where you can go?

 

[MarketingGuru]

Thanks for your answer! My dad has primarily sold life and disability from just one or two companies at a time--but he has been inactive for the past 2-3 years due to a snafu with the department of insurance (long story having to do with CE and grandfathering). So he's looking around too to make sure he lines up with a company offering good current products (he likes Ohio National, but not for disability income which he likes to sell).

 

[SouthernComfort]

As far as life contracts you can get contracted with The Guardian and Mass Mutual as an independent. Both write Life and Disability but prefer white collar type of business and you will need a company who has an appetite for "blue collar" type work. You will find many on here who will help you and I have been around here reading for a good while, Frank Stansky can help answer your Medicare Supplement questions and Mark Rosenthal shares a bunch of information on life and life marketing. If I made one suggestion, it would be to buy and implement the one card system (www dot one card system dot com) direct link, not an affiliate. Here is to your, mine, and everyones career.

 

[CFP83]

As far as life contracts you can get contracted with The Guardian and Mass Mutual as an independent. Both write Life and Disability but prefer white collar type of business and you will need a company who has an appetite for "blue collar" type work. You will find many on here who will help you and I have been around here reading for a good while, Frank Stansky can help answer your Medicare Supplement questions and Mark Rosenthal shares a bunch of information on life and life marketing. If I made one suggestion, it would be to buy and implement the one card system (www dot one card system dot com) direct link, not an affiliate. Here is to your, mine, and everyones career.

Good feedback from a member with 2 posts, well done! I would second the one-card system recommendation, looking into Mass & Guardian, and making sure you have a go to company who likes to work with the "middle-market".

 

[IMO101]

I really don't think med supps are any easier for female or male agents. A great female agent and a great male agent will both be very successful selling these and other products. However I could imagine an insurance agent father telling his insurance agent daughter to focus on med supps, since it could be seen as a safer population to work with (senior market, daytime hours, etc.).

As far as Medigap, you would need to contract with each carrier. AARP Med Supp is a good one to have in your arsenal, as well as others. Are you interested in Medicare Advantage also? If so, this is a great time to get into the business, since AEP begins on 10/15. United Healthcare contracting includes AARP Med Supp, as well as AARP Part D plans, and AARP Branded Medicare Advantage plans.

Humana includes Med Supp, Medicare Advantage, Part D, Final Expense, etc.

For life carriers, American General has a lot to offer, since that one contract includes a full range of life products, also accident, critical illness, disability, long term care, annuities, etc. They also offer worksite benefits for employer groups.

You have so many options, the most important thing is to do your research, and choose the carriers you are the most comfortable with.

If you contract through an FMO, or other upline structure, make sure you research them thoroughly as well, before you contract. Choosing the wrong one can be a disaster.

Good luck to you, I am sure that with your fathers insight and guidance, and all that you have learned growing up in the business, you can be very successful.

 

[Mark]

As far as life contracts you can get contracted with The Guardian and Mass Mutual as an independent. Both write Life and Disability but prefer white collar type of business and you will need a company who has an appetite for "blue collar" type work. You will find many on here who will help you and I have been around here reading for a good while, Frank Stansky can help answer your Medicare Supplement questions and Mark Rosenthal shares a bunch of information on life and life marketing. If I made one suggestion, it would be to buy and implement the one card system (www dot one card system dot com) direct link, not an affiliate. Here is to your, mine, and everyones career.

If I can help anyone, just contact me.

 

[Nicknate07]

What carriers in California do you recommend a newbie to get contacted thru? And does anybody recommend life insurance over the phone vs going to the home??

 

[fjohnston]

If you are looking to represent multiple carriers, I would recommend finding a GA that you are comfortable and then you will have the ability to represent all of the carriers that they offer.