New to The Insurance Industry, Seeking Advice.

[JimmehBone]

I'm a young guy that has been working in construction since highschool. I've recently been laid off and am working part time at a few odd-jobs to make it by. I been thinking about pursuing a new career that isn't necessarily less demanding but less physically intense. I'm willing to work long hours and learn everything there is to learn. But i'm having trouble figuring out where to start. From what i've read so far i'd rather be a broker than a captive agent. Selling a variety of products and having more companies to get quotes from seems like an easier sell to me. I been approached by NAA but am not willing to work with them ever. So my first question is, does anyone have any recommendations to a good brokerage agency? I live in Connecticut by the way. Also, as far as licensing goes, does 1 license cover all or are there separate licenses for annuities and such. (my main focus for now would be life.) thank you in advance for any help you can provide.

 

[toehill]

I can't speak for what you need in Conn. I can tell you that I owned a landscaping business in GA sold it and moved to AZ. Now I am selling life and such. I am doing pretty good. Read up on here as much as you can and educate yourself. Talk to as many people as will talk to you about this industry.

My back doesn't hurt anymore. You sell a couple of good whole life policies and you will wonder why you were ever toting bricks and boards.

It is work just the same. Make a plan and set goals. I started small. My first goal was sell something anything and I did. Now I have bigger goals.

Trying to learn all the products is tough. You need good training. Some on here will tell you final expense, med supps or life insurance. No matter which you pick stick with it and learn it. I am still trying to learn all I can with the life products and dabbling with med supps. Frank Stasny is a good guy on here for that if it interest you.

I could go on and on.

 

[Frank Stastny]

I'm a young guy that has been working in construction since highschool. I've recently been laid off and am working part time at a few odd-jobs to make it by. I been thinking about pursuing a new career that isn't necessarily less demanding but less physically intense. I'm willing to work long hours and learn everything there is to learn. But i'm having trouble figuring out where to start. From what i've read so far i'd rather be a broker than a captive agent. Selling a variety of products and having more companies to get quotes from seems like an easier sell to me. I been approached by NAA but am not willing to work with them ever. So my first question is, does anyone have any recommendations to a good brokerage agency? I live in Connecticut by the way. Also, as far as licensing goes, does 1 license cover all or are there separate licenses for annuities and such. (my main focus for now would be life.) thank you in advance for any help you can provide.

The best advice I can offer a new agent is to pick a product, become an expert and successful at selling it and then begin looking at other products to offer.

I believe that most agents who fail at this are ones who try to be all things to all people when they first start and fill their briefcase with every insurance product they can find. They usually end up running in circles, bouncing from one product to another and really don't know much about any one of them or how to successfully prospect.

As the old bull said, walk down the hill toward the heard of cows, don't run down.

 

[Tearmann]

I'm a young guy that has been working in construction since highschool. I've recently been laid off and am working part time at a few odd-jobs to make it by. I been thinking about pursuing a new career that isn't necessarily less demanding but less physically intense. I'm willing to work long hours and learn everything there is to learn. But i'm having trouble figuring out where to start. From what i've read so far i'd rather be a broker than a captive agent. Selling a variety of products and having more companies to get quotes from seems like an easier sell to me. I been approached by NAA but am not willing to work with them ever. So my first question is, does anyone have any recommendations to a good brokerage agency? I live in Connecticut by the way. Also, as far as licensing goes, does 1 license cover all or are there separate licenses for annuities and such. (my main focus for now would be life.) thank you in advance for any help you can provide.

Life/Accident/Health is the license I would focus on getting. Of those Final Expense is a great place to start. The contracts as an independent are good, even for a newbie compared to a captive company. Final expense is an easy product to learn and master with good money.

You will need to find an agency/MGA with quality carriers and most importantly training and support. If you cannot find an agency that provides you training then consider a captive company for your first 3-6 months in the business then move to be an independent.

 

[nyc2phi]

I know you mentioned you do not want to be captive but how do you expect to learn about life products?

If I were you I would start with working with a major player in the life business. A place that will offer to train you and even pay you while you learn.

Places like Met, AXA, & Pru are a great place to start a career in this industry. Most of them have an open architecture, meaning they allow you to go out of network and sell other carriers products if theirs are not competitive.

Just thought it would be worth mentioning to you.

 

[JimmehBone]

Thank you all for your responses. I had my first interview today with NYL. They told me they have an extensive training program filled with managers and staff directly compensated by them, so there is no incentive for them to do anything but help new agents succeed. The manager also told me most first year agents make 60k-100k, does that sound reasonable to you? He told me they have a 4 step hiring process consisting of meeting agents, training staff and then compensation agreement. Overall they seemed like a pretty ethical and professional company. Now I just need to work at getting my license and passing their screening. I'm looking forward to this industry. Any suggestions on the best way to get leads?

 

[wjw0006]

I think the $60k is too much....you can do it if you are a new agent and new to the industry but would have to be an amazing sales person and work your tail off....

 

[New2theInsuranceGame210]

Thank you all for your responses. I had my first interview today with NYL. They told me they have an extensive training program filled with managers and staff directly compensated by them, so there is no incentive for them to do anything but help new agents succeed. The manager also told me most first year agents make 60k-100k, does that sound reasonable to you? He told me they have a 4 step hiring process consisting of meeting agents, training staff and then compensation agreement. Overall they seemed like a pretty ethical and professional company. Now I just need to work at getting my license and passing their screening. I'm looking forward to this industry. Any suggestions on the best way to get leads?

I can only suggest to do your research before committing to anything.

 

[Tearmann]

Thank you all for your responses. I had my first interview today with NYL. They told me they have an extensive training program filled with managers and staff directly compensated by them, so there is no incentive for them to do anything but help new agents succeed. The manager also told me most first year agents make 60k-100k, does that sound reasonable to you? He told me they have a 4 step hiring process consisting of meeting agents, training staff and then compensation agreement. Overall they seemed like a pretty ethical and professional company. Now I just need to work at getting my license and passing their screening. I'm looking forward to this industry. Any suggestions on the best way to get leads?

I agree with wjw - it will be about half of what they told you in the first year unless the leads they give you are very HOT. Where are the leads coming from? This is a very important question to ask during your interview process.

 

[maksim]

First three years in the industry you are over worked and under paid, after that it is the opposite.

As others said, go work for an agency, my choice would be Mass Mutual. Learn all there is to learn, and if you have ambitions beyond peddling burial insurance, and chasing the next sale, become proficient with actual financial planning.

Working with a career agency will allow you to do so.