Negative Views of Insurance Professionals?

[Insuranceman]

When I started selling insurance my dad told me it was a BS job. After the 5th year when i was making more money on renewals each year than his yearly wage after 30 yrs at his job he changed his tune.

 

[NMFNMDRT]

You mean that Northwestern Mutual isn't the ONLY company worth going with?..........hahahahahahhaha

Wait, what? Damn that recruiter!!!

My grandfather was a Federated rep for many years, so my dad was thrilled I was going into insurance. He lived in a nice 6 bedroom house with 6 siblings growing up, so he knew the potential in the industry.

 

[scagnt83]

He travels to Asia and writes about stock options.

Ok. No offense to your dad, but he is not in the financial industry. He is in the journalism industry. I dont care what he writes about, he is not in our industry.

Insurance is much more than personal lines. Wall Street is full of insurance products. Lots of investments on Wall Street are insured with specialty insurance products.... this is one reason that AIG got into so much trouble; they insured risky/stupid investments by Goldman Sachs.

The average ML type broker might take a condescending view of our industry, but its because of what other people have said. We are competing for the same dollars they are.

Yes there are plenty of agents that misinform/lie/whatever. Some of it is intentional, and lots of it is because they are uneducated about the products they sell.
But that does not mean that we dont do good work.
Health Insurance is self explanatory.
Life Insurance protects widows and orphans from living on the streets.... how many stock brokers can say they do that????

Also, I have a few stock jocks as clients. They have more insurance than anyone I know.... why?.... because they see the value and importance in it.

Insurance is also a good starting point to get into investment products and financial planning. Most financial planners started as insurance agents.... many still are at heart, and still sell more insurance than anything.


Again, dont consider your dad part of the financial industry. Respect his opinion, sure. But dont live or die by it.
My father was very supportive when I got my L&H license, but my mother was not at all!!!
And each time I made a major advance in this industry she questioned it and thought it was the wrong move. My dad supported the moves, but he also understands the business world a lot more. But he also initially worried about me taking a commission only job.
Now my mother actually thinks that I am in a good place. It only took 4 years.... lol.

But my point is that her negativity never stopped me. I took it in, digested it, and used it as motivation.
Prove your dad wrong, and be a knowledgeable & successful agent.