Newly Licensed and Not Sure where to Start.

tlacah1995

New Member
5
I'm a 21 year old that just got licensed and don't have much experience in the insurance business. I was looking to start as an independent agent through an IMO but the lead cost is just too high for me right now with my current situation struggling to make ends meet. I wanted to hear more people's opinion on the pros and cons of being an independent agent and an agent with Farmers per say. Also want to get opinions on whether it would be best to start out as a captive agent or independent agent. I know it's possible to make 7 figures as an independent agent but is it also possible as a captive agent? Please help just want to get started and get momentum. Thanks
 
I'm a 21 year old that just got licensed and don't have much experience in the insurance business. I was looking to start as an independent agent through an IMO but the lead cost is just too high for me right now with my current situation struggling to make ends meet. I wanted to hear more people's opinion on the pros and cons of being an independent agent and an agent with Farmers per say. Also want to get opinions on whether it would be best to start out as a captive agent or independent agent. I know it's possible to make 7 figures as an independent agent but is it also possible as a captive agent? Please help just want to get started and get momentum. Thanks

Do you have a specific line of insurance you are looking to sell?

Ex. Life, Health, P&C, ...

I wrote an article specifically about getting started in the senior insurance market (Final Expense Life insurance and Medicare Supplements).

Getting Started Selling Medicare Supplements and Final Expense 101 - Lead Heroes

If you are looking at becoming an independent producer, the senior insurance market can be a great place to get started.
 
I already have my life and health but was thinking of getting my PC

Regardless of what direction you choose (captive or indy) I would highly recommend focusing on one product before trying to offer all lines of insurance.

As an independent agent you definitely want to specialize in your niche before branching outwards.
 
There is some very good advice here, but I would urge you to find a local independent agency who can provide you free leads, hand holding, and back office support. If you give us your city and state, maybe someone can refer you to one.

Going indy is definitely a great option, but you need to learn this business first. Its much better, in my opinion, to learn with a local office first. Learning on your own will be a very expensive experience, especially if you're already tight on cash.
 
Going to a career shop like Mass Mutual or NYLife might be a good option too, but you will probably need to do a lot of networking since I believe leads are minimal there, but I could be wrong, and I believe its different from office to office.

But at least at a career shop you will get a base plus commission.
 
If I had it to do over, I would not have started independent unless I had a REALLY good mentor, that could show me and teach me. I did not, and it was a rocky road. Learning the business and how to do the business by someone who's been there and done it has alot of value, imo.
 
No base. There may be some kind of "new agent financing"... but it's very short-term. The last base I heard of was the old Met Life agency and it also lasted about 12 weeks.

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BTW, being 21 years old, you're going to need to really act far more mature for your age than you may have done in the past. I just watched this video yesterday and I think it'll be helpful. It primarily speaks to the financial advisor/RIA marketplace, but it'll still apply.

 
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