NEW TO INSURANCE HOW TO GET STARTED in a Real Pickle

Jul 12, 2016

  1. ASwinson
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    ASwinson New Member

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    Hello this is a great discussion forum. First off I have worked for American General back in 2011 right out of college. That gave me a bad taste for selling insurance and it was only life. I spent a lot of money and traveled a lot to meet 2 to 3 people a day with a companion. Anyways I got out of it and started teaching in October Middle School Math. I have a small family now and I need a higher income with the flexibility of being able to be there for my family. I got licensed last year and was going to work for a guy with nationwide full time mid year of the school year. I took his entrance exam and did poorly because I was partially confused on part of it. At the same time I got a job with a State Farm guy but with an hour away drive. He gave me a laptop and help me make a list of renewal dates to call. I was not very successful. By the summer time this year he offered to pay for my gas driving the distance and a little higher commision. I went into an agency here close to town and interviewed and was hired right away and I took it.


    IF YOU DON'T WANT TO READ THE BACK STORY START HERE. I am commision only. Working with an independent broker in eastern NC. He has been here 40 years. He has an office space for me and is telling me to start by selling term life to other people my age to start off with and then we will include the other lines of insurance. The cut i get is all the life and split the P and C commision in half. I have not signed any contract and have been working a few weeks. I am focused on selling ohio national term at the time. I felt like I was moving forward but now I am stuck. I already got a list of listshack should I start there by making a lot of calls a day? I got self doubts I have not sold anything since starting. Should I be trying to sell all lines of insurance? The transition from state farm to this office is very different. Also we have high limits and only sell high limit is that a competitive problem?

    We represent Auto Owners, Progressive, All State, Ohio National, Utica, Hagerty, National General and a few others.


    Thanks for any help
     
    ASwinson, Jul 12, 2016
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  2. thomasm
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    thomasm Guru

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    It must be required in their contracts to push life, which is the hardest thing in the world to cold call for.

    If he has a large book, open those files, call & ask if they would be interested in a term quote. You got a better chance at that than straight cold calling for term prospects.

    Or find an independent shop that's hungry for new P&C accounts because 1-2 leads an hour cold calling/door knocking is still doable for P&C.
     
    thomasm, Jul 12, 2016
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  3. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    Life insurance is a solution to a problem. However, if those you call on (P&C book or cold-calling) don't know they have a problem, or are numb to their problems, then you'll have a tough time making the calls and making the case for you to see them and quote them for life insurance.

    This should be helpful for you:
    http://fsonline.com/Simpler_Way.pdf
     
    DHK, Jul 12, 2016
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  4. xrac
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    xrac Guru

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    Have you had any success selling? It could be that this is not your cup of tea. It is not for everyone which is no disgrace. A split of 100% life and 50% P&C if they are furnishing office space, supplies, E&O, etc. ain't bad. Will the owner let you work the existing book for life. That would seem to be the obvious market for term life for him.
     
    Last edited: Jul 18, 2016
    xrac, Jul 13, 2016
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  5. ASwinson
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    ASwinson New Member

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    Hello thank you for all the replies. He won't let me look into his book.
    I have sold one life policy and that was a few years ago.
     
    ASwinson, Jul 18, 2016
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  6. xrac
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    xrac Guru

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    Are you sure this is a career for you? Is he offering you any training or mentoring? It sounds like you could be on the road to starvation. Do you still have your teaching job?
     
    xrac, Jul 18, 2016
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  7. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    I rarely say this, but you need to leave.

    A P&C agent hired you at 100% of the commissions to sell life insurance (not bad)... but won't let you contact his existing book of business? What's the point of being with someone who can't train you to do the job in the first place?

    He has set you up to fail.

    If you want to sell life insurance, I'd go to a place where you can get real training, instead of the "here's your brochures, there's your cards, there's the door, good luck" school of sales training.
     
    DHK, Jul 18, 2016
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