As a recently failed out grad student w/ a ton of student debt (150k), I've been recommended trying the insurance field. After looking into it, I'm really interested. I've been offered a position at Equis, but after reading the reviews on here, I'm hesitant to join them. Do you guys recommend them? I really want to be an independent insurance broker, and I was wondering how feasible that is w/ 0 experience.
Newb to Insurance. Need Advice.
- Thread starter twosides1
- Start date
- 2,301
Becoming an independent with no experience is not going to happen unless you want to fail miserably right away. Get a job in the business as a producer for an agent and learn the business. When you think you know everything, stay there for 6 more months and then get in on one of the aggregate brokers. You will know by then where you want to work within the industry, (health, life, P&C, financial) and maybe you will have picked up some good habits along the way
- Thread starter
- #3
I appreciate the advice. Would taking up the offer from Equis be a good idea? I just don't like the expensive leads, but it's not like I'm drowning in offers.
- 2,301
Probably not. they are like so many MLM insurance platforms. Buy leads, split your commission with senior agents, buy more leads, make 100 calls per day, buy more leads. The leads have been recycled many times but YOU might just be the one to get your foot in the door. See if any national insurer is hiring a CSR or producer, get your license and learn how the business works
- Thread starter
- #5
Alright, thanks! So, like Allstate? I could get experience and then start my own on the side.
- 2,301
No you are not going to start anything on the side. You most likely will become a captive agent as you get started. You don't know squat and this business is tough. Learn the ropes working for someone else and then maybe you will have an opportunity to buy a book of business or start getting appointed with other companies, after you leave your primary. All companies can look up your information to see who you are appointed with so don't take a chance working for Allstate or another major carrier and trying to be slick. they will find out and send you packing.
- Thread starter
- #7
Thanks, I meant eventually branch off and start my own agency.
BADTROUT
Guru
I think @fed up is 100% right on this. Most successful agents have cut their teeth at an agency or the like, only to start over again, and sometimes again and again... Then when you have a grasp on how things work in the business you can start exploring agency ownership, which yes, is attainable. It's like the game of life, you can choose the job route or the college route, either way could be the best path, and hard enough work you could make it happen from the get-go, but you are wise to invest some TIME (don't worry about a book or customer base just yet) into working for someone else. Best of luck and no matter where you end up, will likely not be where you really end up.
Personally I'd stay away from Equis and any of the other MLM insurance gigs. Agree with the others, start as a captive and LEARN. I didn't, and it was really tough I would have done it differently if I could start over. Prepare yourself for a pretty good learning curve and probably not a big income for a while. But if you learn, stay focused and work hard you can make it and ultimately the ceiling is unlimited.
MVI
Expert
- 67
Like many have said already - consider learning the trade while you are being paid a salary. I was able to learn the industry at a State Farm agency when I first started out. I was paid a fair salary too! Best of both worlds.
Knowledge is power in this industry. Big time. You have to know your stuff before you step out into the commission only space IMO.
Knowledge is power in this industry. Big time. You have to know your stuff before you step out into the commission only space IMO.
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