New Agent - asking for guidance and advice

[JillB]

Hello All!

I have been lurking on this site for a few weeks (after receiving my TX General Lines Life, Accident, Health license) trying to absorb as much information as possible. Great posts, great advice here. I have reached a point that I want to request guidance to my situation personally. I am appreciative of any and all information you are willing to provide.

I have been self-employed my entire adult life. First, in the oil and gas industry, and when that went south, I transitioned into travel. I was a travel agent for the last 4 years. I think most can agree that that career is not going to put food on the table any time soon. I am now looking to get into a "recession-proof" career.

My three criteria for a job are: 1) help others, 2) work independently, 3) make a decent living. I know many might ask what a decent living means to me; my response is as much money as I can make off my own efforts. I am a workaholic and love helping people choose the right product, so I am not worried about what I am capable of producing - the money always flows.

Right now I feel like a debutant at the ball. Everyone seems very eager to hire me. I am either interviewing with or have been offered a position with the following: Horace Mann, Ideal Concepts, Select Quote, AWL. I have interviewed with a few others, however, I felt they were not forthcoming. Basically, MLM, which is not a position I am interested in pursuing.

My dilemma. As you can tell, 3 of the 4 positions are placing me in a position that will strap me to a desk and my blood sweat and tears will benefit the company greatly and will compensate me so-so. The reason I am leaning toward signing up is two-fold: a) the training that is offered, which is solely for Medicare, b) all leads are provided. I would prefer to be fully independent, but I am concerned that will involve cold calling - I do not feel comfortable cold calling - I do not appreciate it and I would not wish to do this to others. When I say "cold calling" I mean the prospect has not indicated any interest in the products I am offering.

To wrap this long-winded thread - Is there a place in the industry that will allow me to be independent AND avoid my definition of cold calling? Or... should I stick with a company that will have me captive for the purpose of learning and training with the knowledge they will not freely release me should I decide to move on?

I am grateful to receive any and all advice. TIA - Jill

 

[DHK]

Welcome to the forum! Congrats on passing your license and knowing exactly what you want to DO with that license!

The reason I am leaning toward signing up is two-fold: a) the training that is offered, which is solely for Medicare, b) all leads are provided. I would prefer to be fully independent, but I am concerned that will involve cold calling - I do not feel comfortable cold calling - I do not appreciate it and I would not wish to do this to others. When I say "cold calling" I mean the prospect has not indicated any interest in the products I am offering.

I'm not in the Medicare space at all (might want to check out the Senior Insurance forum for more), but I want to answer the question you didn't ask, just so you could possibly think differently.

Is there a way that you *could* be comfortable with making cold calls that the vast majority of *** cold callers aren't doing?

Most cold-callers are selling product or selling appointments... and they suck at it. They're pouncing on anyone and everyone with lazy language. They are annoying and the more they talk the more irritated *I* get.

What if... we could prospect as professional advisors and create a professional tone and relationship very quickly with anyone we spoke to?

"Hello. I'm DHK. My name probably doesn't ring a bell (or not familiar to you). May I take a quick minute to share with you why I called, and then you can decide if we should keep talking?"

This slows down the initial response of "who are you, what do you want, and just go away" to a little voice saying "this sounds safe enough - I'll listen and THEN tell them to go away"... and that's all I need to re-shift the entire nature of the call and interaction.

 

[fed up]

If you can stick it out as you learn and absorb I would suggest taking a position with one of the agencies you spoke with. There are scripts you can learn from, information about where to turn to get answers, things to avoid, great work habits to follow. You may find a specialty niche within your focus group that really appeals to you and that you are good at, plus you are making some money as you learn

 

[JillB]

DHK, thank you for your reply. I did like the video, especially the "disarmingly honest" comment.

Welcome to the forum! Congrats on passing your license and knowing exactly what you want to DO with that license!

I wish I did know what I wanted to do. It isn't that I am convinced Medicare is right for me, however, I am interested in learning any/all aspects of this business. The 6-week training course offered through Select Quote appealed to me. The other aspects did not.

Is there a way that you *could* be comfortable with making cold calls that the vast majority of *** cold callers aren't doing?

DHK, I am open to learning anything. I was successful at leasing mineral interest back in the day which is nothing but cold calling. But, I knew they had something that I wanted (a signed lease), and I was doing them a huge favor by offering them money. Given that scenario, it was easy for me to pick up the phone and chat them up. I knew what they "needed" so to speak. If I don't have any information on what a person's needs are, how am I helping? What do I have to offer?

Frankly, I think I do not know enough about this industry to ask the right questions and that terrifies me. I'd prefer to make the right decision out of the gate. Perhaps that is naive on my part and I will have to learn many things the hard way. There is so much opportunity out there and everyone I speak to seems eager to hire me. It's all so overwhelming. I would like to work independently while having a mentor and the opportunity to train - not tied to any particular segment of the industry. Given this new information about my situation (not focused on Medicare necessarily), would you have any additional advice? BTW, thanks a million for taking the time to reply!

 

[JillB]

If you can stick it out as you learn and absorb I would suggest taking a position with one of the agencies you spoke with. There are scripts you can learn from, information about where to turn to get answers, things to avoid, great work habits to follow. You may find a specialty niche within your focus group that really appeals to you and that you are good at, plus you are making some money as you learn

That is what I was leaning toward. The training/learning aspect. What I have to get over is working for a large company. Is that my best option out there to learn this business? My biggest concern is the appointment with over 20 carriers that they will not release for 6 months and I have to request the releases. Although this appears to be standard in the industry, I deem it an unethical practice. One company went so far to tell me that if I threaten to sue them, they will release - Yikes! BTW, I am an attorney but haven't practiced law in 7 years. I would not want to practice law again only to threaten someone. I'm looking for some integrity, some honesty. Is this a pipe dream??? I'm okay with a reality check, so feel free to be brutally honest.

Am I asking for too much by wanting to work for a company/person that has integrity and is there a way to learn this industry without working for a large company?

Bless ya for putting up with my questions. I truly appreciate it! - Jill

 

[fed up]

Try this thing called Google in your area and look for health brokers or medicare independent brokers. The large companies have a learning plan called "throw them to the wolves and let's see who lasts". You will start to understand the basics of medicare, life, health. You will be given a stack of old leads to see if you can get your foot in the door, you might even sell something. Hopefully you will find your "Ah Hah" moment and be somewhat successful as you continue to learn about other products. My own feeling: general health insurance is completely messed up since the ACA was passed. Insurers have no incentive to offer anything other than the same plans as the gov't schedule. Medicare has a bunch of agents in every city and community. Some do extremely well, others go broke but that is true for any aspect of insurance sales. Life insurance pays well on the initial sale, really well. You have to find ways to discover other needs in the household and realize many appointments are going to be a zero. I am not sure that anyone can navigate the minefield without at least a mentor. So start googling

 

[Life Hawk]

I would always suggest that someone who wants to proceed with this business as a profession take the time to speak with someone over a cup of coffee and a list a questions.

Beware though, salespeople seem to be too easily sold!

Speak on at least 3 different types of options:

1. Companies or direct captive
2. FMO / IMO
3. Independent Agents (I am one, might I suggest you seem like you might make one as well)

Look for folks that are old in the business but still get out and sale as opposed to just marketing.

Wish you the best in what could very quickly become the place you make your mark.

 

[LostDollar]

I was successful at leasing mineral interest back in the day which is nothing but cold calling. But, I knew they had something that I wanted (a signed lease), and I was doing them a huge favor by offering them money. Given that scenario, it was easy for me to pick up the phone and chat them up.

Caveat, not an agent.

But to do this in the way you described, did you not, in some way, either prior to, or during, the call, qualify these people to see that they held mineral rights which you might be able to purchase?

 

[JillB]

Try this thing called Google in your area and look for health brokers or medicare independent brokers. The large companies have a learning plan called "throw them to the wolves and let's see who lasts". You will start to understand the basics of medicare, life, health. You will be given a stack of old leads to see if you can get your foot in the door, you might even sell something. Hopefully you will find your "Ah Hah" moment and be somewhat successful as you continue to learn about other products. My own feeling: general health insurance is completely messed up since the ACA was passed. Insurers have no incentive to offer anything other than the same plans as the gov't schedule. Medicare has a bunch of agents in every city and community. Some do extremely well, others go broke but that is true for any aspect of insurance sales. Life insurance pays well on the initial sale, really well. You have to find ways to discover other needs in the household and realize many appointments are going to be a zero. I am not sure that anyone can navigate the minefield without at least a mentor. So start googling

Thank you, Fed Up, I have Googled as I am a researcher by nature. I think I was too short-sighted in my search, however. I focused on who was hiring via social media and not knocking directly on the doors of the brokerage firms (save a few - and was not impressed). I will continue my search with your guidance in mind. Very valid point. Although I have been offered jobs with larger companies, it doesn't sit well with my soul. I have that entrepreneurial spirit and being a "company man" doesn't suit. Again, thanks for the advice!

 

[JillB]

Caveat, not an agent.

But to do this in the way you described, did you not, in some way, either prior to or during, the call, qualify these people to see that they held mineral rights which you might be able to purchase?

Hi Lost Dollar. Leasing minerals means you have already done your due diligence - or you are a fool if you haven't (O&G companies contract with you to get the job done right and if you do not lease the right individual in the correct amount, you will not be hired again. By that company or any other). My responsibility was to research the county records (Patent to Present), find out who owned the minerals, and in what percentage. Then I located the owners of that mineral interest through various methods and made the call or went to their last known address. Some folks (descendants of mineral interest owners) were not even aware they had a mineral interest until I called them. I hope that gives you more insight? If not, I am happy to explain further. Just let me know.