New Agent over 50

[Poppy Hill]

I have been working at a captive agency for 1.5 years and decided to get my license in P and C. I just turned 55 and live in Michigan, but would like to move eventually into retirement.

It doesn't look very positive when I read the posts, so I am reaching out to see if this is a viable career path. I am open to all avenues, but need advice! I am willing to switch or add Medical, but I don't want to do this without a solid plan. I am looking for a Mentor or Coach to help me decide where to focus and write a good plan. Any advice/contacts would be appreciated!

 

[1reason]

I'm 55 and started my scratch agency about 12 years ago. I think your age is an asset because of your knowledge and ability to relate to a typical prospect/client. Plus, for the prospects/clients that are younger than you, you'll have an easier time gaining respect, which is needed to gain trust. My younger agents tend to avoid letting on their age out of fear the person won't want to work with them due to young age. That said, the first two or three years are tough if you're an agent with only a commission based structure and/or if you plant your own flag. I think having the ability to write health (med sups) and life will be helpful because some P&C will buy life from you, and Med Sups can lead to P&C/Life. You're not likely going to be able to get many direct appointments right now as many carriers have frozen the path until things calm down in the PL market. Commercial is easier to write, albeit only if you know it, which it doesn't likely appear you do (yet). If you can make it three years without much of an income, you could build up a very nice book to retire on in 10 years.

 

[Al3x Lee]

When I was 29, I had an older producer recommend that I start putting some silver hair dye in to make myself look older. I didn't take the advice, but it's true that people value age in this industry. They equate it to wisdom.

 

[WinoBlues]

That being said a lot of people don't like working with 60+ agents because they just assume you will retire and sell the book to some AJ Gallagher type agency.

I do get the " I am so happy that you answered, u was afraid you may have retired" a lot more now. However, these are people calling me. It has not been a problem, yet.

 

[Allen Trent]

When I was 29, I had an older producer recommend that I start putting some silver hair dye in to make myself look older. I didn't take the advice, but it's true that people value age in this industry. They equate it to wisdom.

Joe Biden & Mitch McConnell have silver in their hair. We have more than enough wisdom at this point

 

[Al3x Lee]

Joe Biden & Mitch McConnell have silver in their hair. We have more than enough wisdom at this point

I just hope I have hair on my head when I'm their age

 

[AgentGeneral]

I'm a woman in my early 50s I have never been happier in insurance than now doing Medicare. Worked quite a few areas in health life and ancillaries over a span of almost 20 yrs and have had the best time in medicare. I know that's not where you are now, but for me, Indy in medicare is the last stop, full stop. I couldn't think of anything better to do in my 50s. Wish I wouldve just started back then in Medicare at times. I only started the Medicare side a few years ago.

First, there are 11k medicare beneficiaries aging in daily. Second, the contracting is easy. Yes, the AHIP and certifications that need to be done annually aren't fun, but worth it and only slightly challenging the first year or two--then just repeat and easy/quick. Third, the commissions and ability to make your own hours is nice. Fourth, I never feel "old" because almost ALL my clients are older and it's all good.

The health, life, and disability state testing isn't too bad. In Michigan, I took mine in Gaylord . There are only a few places to do it and that was closest to me, albeit a 2 hour drive. Passed the 1st time through after studying for a few months.

I agree with others who say being an older agent helps and being an older woman helps even more imo. I started in health/life in general early 30s when I also looked younger than my age and I can say 100% that my aging process only benefitted me as far as being able to get respect and rapport easier. Which ultimately leads to more "sales".

I can't speak to much on P and C, as I know little about it. I do work with P and C people, but just on a referral basis. We pass referrals to each other and that's all I have on that. I would imagine though that you'd do just as good with that as long as contracts, commish, etc worked well. I see P and C people doing great financially, but the ones I see who are either inherited it passed from an older fam member, or they busted chops for years.

I work with a handful of ladies in their 50s-70s. A few who retired from great jobs and started this part of their life journey thinking it would be part time and it turned into full on 2nd career that produced more financially than they could've dreamed prior.

Good luck on blazing your trail in whatever you choose to do.

 

[Poppy Hill]

So happy to hear your positive comments. I am open to other lines of insurance.
I would like to know if you recommend staying an agent with someone else or trying to open my own in P & C? I am planning on getting my life an health as well.

 

[Poppy Hill]

I'm a woman in my early 50s I have never been happier in insurance than now doing Medicare. Worked quite a few areas in health life and ancillaries over a span of almost 20 yrs and have had the best time in medicare. I know that's not where you are now, but for me, Indy in medicare is the last stop, full stop. I couldn't think of anything better to do in my 50s. Wish I wouldve just started back then in Medicare at times. I only started the Medicare side a few years ago.

First, there are 11k medicare beneficiaries aging in daily. Second, the contracting is easy. Yes, the AHIP and certifications that need to be done annually aren't fun, but worth it and only slightly challenging the first year or two--then just repeat and easy/quick. Third, the commissions and ability to make your own hours is nice. Fourth, I never feel "old" because almost ALL my clients are older and it's all good.

The health, life, and disability state testing isn't too bad. In Michigan, I took mine in Gaylord . There are only a few places to do it and that was closest to me, albeit a 2 hour drive. Passed the 1st time through after studying for a few months.

I agree with others who say being an older agent helps and being an older woman helps even more imo. I started in health/life in general early 30s when I also looked younger than my age and I can say 100% that my aging process only benefitted me as far as being able to get respect and rapport easier. Which ultimately leads to more "sales".

I can't speak to much on P and C, as I know little about it. I do work with P and C people, but just on a referral basis. We pass referrals to each other and that's all I have on that. I would imagine though that you'd do just as good with that as long as contracts, commish, etc worked well. I see P and C people doing great financially, but the ones I see who are either inherited it passed from an older fam member, or they busted chops for years.

I work with a handful of ladies in their 50s-70s. A few who retired from great jobs and started this part of their life journey thinking it would be part time and it turned into full on 2nd career that produced more financially than they could've dreamed prior.

Good luck on blazing your trail in whatever you choose to do.

 

[jtmgolf00]

I started my 1 person agency when I was 56 - I think my age has helped me (especially in the L&H world). I write small commercisl health (under 50 - concentrate on the under 20 world), which includes workplace benefits, Life and an increasing book of medicare. I farm off any personal business I get.