New to insurance, beginning to study. Looking for advice and direction.

insuranceguydom

New Member
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Hello everyone,

I feel really blessed to have found this forum. You wouldn't believe how many tabs I have opened with a mass of different questions for days. First a little background about myself. I live in VA and am 23 yrs old. Since the age of 19 I have worked and am currently working (hopefully not for long) in the Timeshare industry. Over passed 2 years I have really achieved a lot of goals I had with this company. In the year of 2017 I won Rookie of the Year and 2 years later in 2019 the Top Gun award. Each year I have sold over 1 Mil in volume (gross) and never less than $850k (net), but unfortunately I have never made over $45k(GROSS). I have always felt that this wasn't going to be my end goal working in timeshare. I always knew I wanted to have something of my own. My best friend my entire childhood his father recently passed away from cancer and had owned his own agency. after his death his family dissolved the company. Since then my best friend and his sister have somewhat started to get their licenses to start their own agency or work under TransAmerica. Apparently the father left them some connections within that company to call to get started. They expressed interest in me because they know my sales record with the resort I work with and also know I wasn't/am not internally happy with the resort i work with or the resort i worked with when i lived on Hilton head island. The biggest part is that they have about 25 file cabinets in the ouse with all of his old clients and his "books" they say. I guess the question I've been having is what is life/health and apparently they focus on annuity, like, how much does it pay, is it something i can start my own agency with and actually provide for a family? I am a very humble person and truthfully I would just like to make something of myself and as I am very appreciative to the resort for giving me the sales training and experience it has given me I have been able to live with food in my belly and anything i truly need i can get, but there's an invisible, hidden cap that we have with this resort and I want to be able to provide better for my future family than what was provided for me and I have been looking for the career that I can do that and Im hoping this is it. I love helping people and I have a real passion for helping families get to retirement and reach their financial goals so that each person can have that time in their life where they can enjoy what they've worked so hard for.


But my overall questions/advice I need/would like:

What is a normal sales process like with Life/Annuity?

People talk about residual income with Life/Annuity, Hows one get paid that way and how does that process work?

Is it truthfully profitable? And what I mean by that is if I truthfully give my all and master this craft as I feel I have done with timeshare would this job make me more than $75k?

Is it enjoyable?

What is the process of starting your own agency?

Is Transamerica a decent company?

Should I try and work with my best friend and his family or should I try and do my own thing?

Lastly, any advice for someone in my position? Looking to absorb and learn as much information as possible. Thank everyone in advance for replying and for everyone's kindness. Below I've attached my resume. Just in case it helps or if there are any opportunities out there.
 

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ALSO When getting my license should I get P&C and get my Life/Health and Annuity or should I only get Life/Health and Annuity? I have no idea what Im doing, looking for direction and advice.
 
But my overall questions/advice I need/would like:

What is a normal sales process like with Life/Annuity?

No such thing as "normal".

People talk about residual income with Life/Annuity, Hows one get paid that way and how does that process work?

You keep getting paid as premiums are paid into life policies or based on the cash values in the annuity. Think of it like a royalty.

Is it truthfully profitable? And what I mean by that is if I truthfully give my all and master this craft as I feel I have done with timeshare would this job make me more than $75k?

I know 7-figure producers. The question isn't if "it" is profitable. The question is: Will YOU learn the SKILLS and APPLY them so that YOU can be profitable.

Don't deal in 'it'. Deal with you.

Is it enjoyable?

Depends on your level of skill and what your WHY is.

What is the process of starting your own agency?

First mastering the prospecting, sales, and referral process. I wouldn't touch that question until you have a solid foundation of training.

Is Transamerica a decent company?

In the whole scheme of things, here are your priorities:
1) Client
2) Agent (you) including training
3) Company

Yes, TransAmerica is a good company - but they won't be training you - except on features and benefits of their products. The real question is: who will be training you and to do what?

Should I try and work with my best friend and his family or should I try and do my own thing?

Depends on the track record of your "best friend".

Hint: Don't ask about how many people he's recruited. TransAmerica is heavily represented by WFG reps who primarily focus on recruiting reps. Ask about SALES and their sales activity.

Lastly, any advice for someone in my position? Looking to absorb and learn as much information as possible. Thank everyone in advance for replying and for everyone's kindness. Below I've attached my resume. Just in case it helps or if there are any opportunities out there.

This is a BUSINESS decision, not a job. It's best to look at the insurance industry with that angle. You are going to be hiring people to help train you to build a clientele.

1) What is your focus? This video will help:


2) Here's how to Interview the Interviewer. Remember: it's YOUR business and YOUR risk... so you need to interview THEM.
 
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