Greetings, all. I'm signed up as an independent agent with HealthChoiceOne/ LifeChoiceOne, but there's still so much I don't know that I haven't even tried to start selling life insurance yet. For example, my father needs mortgage insurance that doesn't end when he's 80, but no one will insure him using standard term because of his age and health issues. Who can I talk to? Second example, a 56 year old wants life insurance, but he's already had three heart attacks. Who will take him, and at what cost? Third example, a 73 year old woman wants life insurance and is in decent shape health-wise but doesn't want to open her financial and medical life to the kind of in-depth analysis the insurance companies want for someone her age. Who will cover her? There's like 14 companies that LifeChoiceOne works with, but with so many companies and so many products for each one, I don't know where to start.
Newbie Still Trying to Learn the Ropes
- Thread starter xwsmithx
- Start date
AgentWillN
Expert
- 99
Part of figuring out the Course, is staying on the Ropes long enough.
The beauty of being a Broker is that you have so many Companies and Policies to choose from, but the setback I guess, is figuring which ones best fit your Clients needs.
Each of your 3 situations, have variables and more information is required per situation.
The beauty of being a Broker is that you have so many Companies and Policies to choose from, but the setback I guess, is figuring which ones best fit your Clients needs.
Each of your 3 situations, have variables and more information is required per situation.
- 2,370
The person you talk to (your marketer) at HealthChoiceOne should be able to help you pick the appropriate carrier for each case. They should have a better understanding of each carrier and their underwriting / quirks.
For mortgage insurance, I assume you mean life insurance in the amount of his mortgage to protect his home in case he passes away. Term would be the way to go and have the term end when the mortgage is paid. If he is 60, has a 15 year note, then you just need a 15 year term. Or, if he wants something more permanent there is whole or universal life which I am less versed in (other than final expense).
56 year old and 3 heart attacks, they will be looking at guarantee issued life insurance. Same with the 73 year old if she wants a simple process.
For mortgage insurance, I assume you mean life insurance in the amount of his mortgage to protect his home in case he passes away. Term would be the way to go and have the term end when the mortgage is paid. If he is 60, has a 15 year note, then you just need a 15 year term. Or, if he wants something more permanent there is whole or universal life which I am less versed in (other than final expense).
56 year old and 3 heart attacks, they will be looking at guarantee issued life insurance. Same with the 73 year old if she wants a simple process.
- 3,344
question is...will Health Choice One call this newbie back...if their production is low probably not !! Health Choice One really cares only about their big swinging diacks
The first thing I would do is get away from HCO/LCO!
- 183
I agree with Todd.
And health guy.
And.......
Anyhow, point is the questions you are asking, which are reasonable questions for a new agent, are the reason you HAVE an mga: a partner to help you through bumps in the road as you try to get your feet wet.
Rule number one: pick a good partner.
And health guy.
And.......
Anyhow, point is the questions you are asking, which are reasonable questions for a new agent, are the reason you HAVE an mga: a partner to help you through bumps in the road as you try to get your feet wet.
Rule number one: pick a good partner.
JustinSurance
Expert
- 26
I recommend picking one field to specialize in and diving head first from there. There are so many subtleties to each specialty in insurance.
So if you are looking at life insurance, take your license and get with a company who is going to support you. You want a company who has a good reputation and has agents who know what they are doing.
It is also important to find a company that will give you a draw, a starting salary, or a sign on bonus if you don't have a buffer, as it is difficult in the beginning to become fully self sustaining.
To sum it up, find a field to specialize in, learn the ins and outs, and work with a company who will support you every step of the way. That is the first step of many in how you will be successful in the insurance industry where it is sink or swim, and quick!
Feel free to email me if you have any questions about companies or different fields to specialize in. I am happy to help.
[email protected]
So if you are looking at life insurance, take your license and get with a company who is going to support you. You want a company who has a good reputation and has agents who know what they are doing.
It is also important to find a company that will give you a draw, a starting salary, or a sign on bonus if you don't have a buffer, as it is difficult in the beginning to become fully self sustaining.
To sum it up, find a field to specialize in, learn the ins and outs, and work with a company who will support you every step of the way. That is the first step of many in how you will be successful in the insurance industry where it is sink or swim, and quick!
Feel free to email me if you have any questions about companies or different fields to specialize in. I am happy to help.
[email protected]
JustinSurance
Expert
- 26
I recommend picking one field to specialize in and diving head first from there. There are so many subtleties to each specialty in insurance.
Take your license and get with a company who is going to support you. You want a company who has a good reputation and with agents who know what they are doing.
It is also important to find a company that will give you a draw, a starting salary, or a sign on bonus if you don't have a buffer as it is difficult in the beginning to become fully self sustaining.
To sum it up, find a field to specialize in, learn the ins and outs, and work with a company who will support you every step of the way. That is how you will be successful in this industry where it is sink or swim, and quick!
Take your license and get with a company who is going to support you. You want a company who has a good reputation and with agents who know what they are doing.
It is also important to find a company that will give you a draw, a starting salary, or a sign on bonus if you don't have a buffer as it is difficult in the beginning to become fully self sustaining.
To sum it up, find a field to specialize in, learn the ins and outs, and work with a company who will support you every step of the way. That is how you will be successful in this industry where it is sink or swim, and quick!
- Thread starter
- #9
He's 77 and no one would take him, according to pipepass. He has to have the mortgage insurance under the mortgage contract.
Exactly the problem I've been having, they haven't been calling back.
And just who might that be? I didn't want to be a captive agent because I didn't want a quota to fill or be fired. And I'd rather represent the client than the insurance company.
What's an mga?
- 2,370
If you are looking to go under a FMO, treat them like a partner. After all you are technically going into business with them. Call a handful, see who you like and go from there.
MGA- managing general agent - like FMO but smaller in most cases
If you go to SIMA and look at the main page and look at our partners (right side half way down, you can look without joining) we list a couple worth calling. No one paid to have their names there, we just had dealings with them and they were upfront and honest. Again, call them, interview them, look for others if you need to, and go from there. Make sure they will release you if things don't work out.
DISCLOSURE: I do work for Senior Marketing Specialists in Columbia, MO. The focus more on supps and MA and other ancillary products for the senior market. If they were a bad outfit, I would not be working for them.
I am sure other agents have suggestions like agent pitstop. I hear good things about them but I have yet to deal with them.
I wrote a guide some time back about choosing a FMO. I will dig through my computer and see if I can find it & post it.
Sent from my iPad using InsForums
MGA- managing general agent - like FMO but smaller in most cases
If you go to SIMA and look at the main page and look at our partners (right side half way down, you can look without joining) we list a couple worth calling. No one paid to have their names there, we just had dealings with them and they were upfront and honest. Again, call them, interview them, look for others if you need to, and go from there. Make sure they will release you if things don't work out.
DISCLOSURE: I do work for Senior Marketing Specialists in Columbia, MO. The focus more on supps and MA and other ancillary products for the senior market. If they were a bad outfit, I would not be working for them.
I am sure other agents have suggestions like agent pitstop. I hear good things about them but I have yet to deal with them.
I wrote a guide some time back about choosing a FMO. I will dig through my computer and see if I can find it & post it.
Sent from my iPad using InsForums
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