Newbie Looking for Direction

[kingkrazy]

Good morning all!

I have been in sales for most of my working career, I just turned 40. Last year I was recruited by Farmers and the opportunity sounded great. So I went and got my P & C as well as my life lisence. What intruiged me with Farmers was that they encouraged me to keep my full time job to start to see how things would go before making the giant leap. I made it through the Reserve program to the career level. I was doing fairly well but didn't really care for the office I was working in. They're idea of training me was "call this number and they'll help you". Shortly after I converted, The District Manager took our office keys and limited office hours until 5:30 PM (that was a big blow to me since I was still working my "regular" job and needed the evening hours to prospect). My wife and I decided it was time to make the jump and quit my job and go to Farmers. My wife soon lost all of her hours at her work. I'm not sure if the pressue of me needing to make up our two incomes was the reason or I was just discouraged with the situation I was in, but the wheels came off the bus. So back I went to my old job to try to right the ship.

My wife and I are both working at the same company and all is well financially. We also both want me to get back into the Insurance Industry. I feel I have a great passion for this Industry and the desire to succeed in it. So my questions are (finally, right?) this. Now what? I have absolutely no desire to re-visit Farmers, and probably the same with State Farm and Allstate. I was contacted by a gentleman who had an agency and was looking for help in running it since he said he was getting too busy. He was only selling auto and that doesn't intrest me. AAA contacted me but they don't pay renewals (Isn't that why we're in this field?). I was contacted by New York Life so I am going to set up an interview with them soon. So as you can see I'm headed in many different directions. I geuss what I'm looking for is some advise on where to re-start. I don't really want a short term job. I wouldn't mind starting with a company that has a small base as a safety net, but from what I understand, those are few and far between. Any advise would be greatly appreciated.

 

[JustinUpright]

This is a hard business. The only way to make it is through preservation and working hard. From what I hear most of the captive companies are the same way. You should find a good FMO/IMO and work through them as an independent. Get a mentor that will show you the ropes. This can be a good career but you can't just quit when the times get though. It isn't get rich quick LOL.

 

[WinoBlues]

Life Insurance seems like it would be perfect for a part time agent.

New York Life is supposed to have an excellent training program and my have a small training stipen. You will be taught how to be an Insurance Agent as opposed to a Insurance Salesman. IMHO. You will be starting out with a big respected name on your business card. And not just being handed a stack of lead cards (& a bill) and told to go get um!

If you and your wife both have other incomes this would not be a bad way to learn the business. I myself was not cut out for the career shop route, but starting that way was a big plus for me. I had a good mentor. Coming out of the P&C side you have a huge headstart on the prospecting side. Ex-dating is rough. If you think you want to stay Independend for a while you can make good part time money. I would jump on the compulife deal with someone. Figure out which companies offer what you want to offer and make a couple sales.

What part of California are you in?

This is a great business. Feel free to email me if I can be of any help. And no, I am not a recruiter. Just a gray beard agent. Good luck.

 

[xrac]

Concerning the agent who only does auto would he be open to you coming on board and expanding with other carriers into home, life, health, etc.? THat might be a possibility. If American Family is in your area you may want to talk to them. If I talk to NYL and consider going with them I would also talk to MM, NWML, Guardian, and Metlife. Metlife will pay a salary of up to $1,000 or so per week for the first 17 weeks.

 

[kingkrazy]

Life Insurance seems like it would be perfect for a part time agent.

New York Life is supposed to have an excellent training program and my have a small training stipen. You will be taught how to be an Insurance Agent as opposed to a Insurance Salesman. IMHO. You will be starting out with a big respected name on your business card. And not just being handed a stack of lead cards (& a bill) and told to go get um!

If you and your wife both have other incomes this would not be a bad way to learn the business. I myself was not cut out for the career shop route, but starting that way was a big plus for me. I had a good mentor. Coming out of the P&C side you have a huge headstart on the prospecting side. Ex-dating is rough. If you think you want to stay Independend for a while you can make good part time money. I would jump on the compulife deal with someone. Figure out which companies offer what you want to offer and make a couple sales.

What part of California are you in?

This is a great business. Feel free to email me if I can be of any help. And no, I am not a recruiter. Just a gray beard agent. Good luck.

I'm in the Long Beach area. I truly believe this is a great industry to be in and that I can have a rewarding career in it. I realize it is not a get rich quick business. By the way, I love this forum. Learning a lot from the short time I've been here.

 

[kingkrazy]

Concerning the agent who only does auto would he be open to you coming on board and expanding with other carriers into home, life, health, etc.? THat might be a possibility. If American Family is in your area you may want to talk to them. If I talk to NYL and consider going with them I would also talk to MM, NWML, Guardian, and Metlife. Metlife will pay a salary of up to $1,000 or so per week for the first 17 weeks.

Thanks for the input with the other companies. I actually brought up some questions with the auto agent and I think that's what turned me off. He had a relationship with a life agent and he would want me to hand over any life leads to him.
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Life Insurance seems like it would be perfect for a part time agent.

New York Life is supposed to have an excellent training program and my have a small training stipen. You will be taught how to be an Insurance Agent as opposed to a Insurance Salesman. IMHO. You will be starting out with a big respected name on your business card. And not just being handed a stack of lead cards (& a bill) and told to go get um!

If you and your wife both have other incomes this would not be a bad way to learn the business. I myself was not cut out for the career shop route, but starting that way was a big plus for me. I had a good mentor. Coming out of the P&C side you have a huge headstart on the prospecting side. Ex-dating is rough. If you think you want to stay Independend for a while you can make good part time money. I would jump on the compulife deal with someone. Figure out which companies offer what you want to offer and make a couple sales.

What part of California are you in?

This is a great business. Feel free to email me if I can be of any help. And no, I am not a recruiter. Just a gray beard agent. Good luck.

I live in the Long Beach area. I really enjoyed your statement about being an agent as opposed to a salesperson. Great advice.

I certainly agree that this job requires a ton of work and patience. I know this is definately not a get rich quiock field.

This is where being a newbie will show. What is a FMO/IMO? I've seen this inseveral posts but don't know what it stands for.

 

[WinoBlues]

Long Beach would be a good place to do some Final Expense and term. You may want to try a couple sales to get the feel for the life side. When you see how the process runs and get a couple commission checks. That may be the boost that you need. You would be suprised at the people that you already know that would like to talk about a burial policy. The anti carwash policy.

Again, feel free to email me if I can help.

I'm in the Long Beach area. I truly believe this is a great industry to be in and that I can have a rewarding career in it. I realize it is not a get rich quick business. By the way, I love this forum. Learning a lot from the short time I've been here.

 

[davidp711]

I have also seen this many times in this forum. What is a FMO/IMO?

 

[jody108]

Good morning all!

I have been in sales for most of my working career, I just turned 40. Last year I was recruited by Farmers and the opportunity sounded great. So I went and got my P & C as well as my life lisence. What intruiged me with Farmers was that they encouraged me to keep my full time job to start to see how things would go before making the giant leap. I made it through the Reserve program to the career level. I was doing fairly well but didn't really care for the office I was working in. They're idea of training me was "call this number and they'll help you". Shortly after I converted, The District Manager took our office keys and limited office hours until 5:30 PM (that was a big blow to me since I was still working my "regular" job and needed the evening hours to prospect). My wife and I decided it was time to make the jump and quit my job and go to Farmers. My wife soon lost all of her hours at her work. I'm not sure if the pressue of me needing to make up our two incomes was the reason or I was just discouraged with the situation I was in, but the wheels came off the bus. So back I went to my old job to try to right the ship.

My wife and I are both working at the same company and all is well financially. We also both want me to get back into the Insurance Industry. I feel I have a great passion for this Industry and the desire to succeed in it. So my questions are (finally, right?) this. Now what? I have absolutely no desire to re-visit Farmers, and probably the same with State Farm and Allstate. I was contacted by a gentleman who had an agency and was looking for help in running it since he said he was getting too busy. He was only selling auto and that doesn't intrest me. AAA contacted me but they don't pay renewals (Isn't that why we're in this field?). I was contacted by New York Life so I am going to set up an interview with them soon. So as you can see I'm headed in many different directions. I geuss what I'm looking for is some advise on where to re-start. I don't really want a short term job. I wouldn't mind starting with a company that has a small base as a safety net, but from what I understand, those are few and far between. Any advise would be greatly appreciated.

Go independent.

Buy some leads.

Have your wife call them and make appointments.

sell.

Have your wife handle the paperwork.

Sell.

Have your wife follow up on the business and the clients.

Sell.

and you will do great!

But, before you do that, you need to find a niche and focus on it ... I recommend starting with Final Expense or Medicare Supplement ... then go from there ... they are your door opener and you make good money while doing it.

 

[souldeux]

I have also seen this many times in this forum. What is a FMO/IMO?

We talked a little about it over here not too long ago:

GA and MGA, What's the Definition and Who is a Good One?