Please Help, I Need Some Good Advice

Discussion in 'Getting Started Selling Insurance' started by practicalguy, Jun 8, 2017.

  1. shawnmwalker
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    shawnmwalker Well-Known Member

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    All the paths you suggest are dramatically different. I can't begin to tell you which will be best for you and your family.

    I have been an Independent Agent (or on that side of the equation for 15 yrs despite the fact that I am turning 37 this week.

    You have a long hill to climb....

    American National- Nah, come one. No one goes to American National. Go to a meeting and look at the average age of the distribution channel. Those are guys that are truly stuck in their contract and can't get out.

    Farmers- Nah (Just dropped comp again and if you buy a book, it is from a guy dying to go Indy and get free.)

    Goosehead- See the threads. Franchise fee and Service center for a lot of the commission when carriers do that for much less......Great agency!

    The other ones. I cant remember who else you listed.

    VolAgent mentioned Progressive. So I want to throw in my two cents. Progressive will out spend Geico this year in Ad spending. Because they got their act together. They bought ASI (A property company) and they are beginning to pay more commissions and go after a more preferred client. Much of what he says is true. Some is off a few degrees. But only a few degrees. He is usually pretty spot on.
     
  2. VolAgent
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    VolAgent Well-Known Member

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    Thank you. My opinion of Progressive is based upon listening to other agents. I have no personal experience with them, you know why.

    Many of the agents are complaining that while Progressive says they want preferred clients, their pricing and commission says other wise. Simply based upon those who comment, Progressive is pricing themselves out of non-standard, but are not pricing themselves into preferred. Presumably they will eventually figure it out, but certainly a rough ride for agents who use them as a major carrier in the meantime.
     
  3. practicalguy
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    practicalguy Member

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    The other possibilities were more of a financial advising role, combined with insurance product sales at Prudential and selling Final Expense Insurance for Innovative, a subsidiary of OneLife. Any thoughtson those?
     
  4. HoosierLife
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    HoosierLife Well-Known Member

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    OneLife is churn and burn team building agency. I can only imagine any downline group would be similar. Check out my article on how to choose a Final Expense IMO:

    Types of IMOs - LearningFE
     
  5. Whirleybird
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    Whirleybird Well-Known Member

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    The 3 questions you need to ask anyone you're thinking about working for.

    1. How do you recommend I find my clients

    2. What percentage of new clients are here 4 years later?

    3. What percentage of new agents are here 2 years later?

    I imagine at 56 you're probably not looking to be interviewing at 58.

    If they say ANYTHING about selling and begging for referrals from your natural market I'd run. Don't touch them until you're good at your job. Your inexperience can hurt people financially.

    I'm only in my 2nd year of business, but my first client I had put the face amount on the premium amount column in the application and my client had his bank account overdrafted by 997,000 dollars while on vacation. This is a very serious profession; and if your recruiter makes it sound easy even once then he's a liar and you shouldn't trust him or her with your income.

    The big mutuals have decent training but are a bear to work with and they don't pay you much compared to going independent

    MLM's are great if you want to be a scam artist and ruin the lives of everyone you recruit

    A lot of the independents pay well but you have to train yourself (there's 2 really good agents here who have helped me out a bit, but training programs should help a lot)

    And I don't know anything about P/C insurance other than most of them make a good portion of their income cross selling life
     
  6. Escondido
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    Escondido Member

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    So it cleared, right?
     
  7. Whirleybird
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    Whirleybird Well-Known Member

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    Yeah, he had his money back the following Monday. Right at the end of his vacation. But he got compensation for my mistake courtesy of the carrier.
     
  8. Rick Deckard
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    Rick Deckard Well-Known Member

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    :cool: :biggrin: :cool:
     
  9. VolAgent
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    VolAgent Well-Known Member

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    That was a carrier mistake just as much as an agent mistake. I realize you are or were with NYL, but a premium number that big should have generated a phone call to confirm.

    As to your statement about P&C agents, you would be surprised how many barely do life. They can be a great referral source for a life agent. But they are scared you will screw up their account. Either by trying to poach them away or by upsetting them if the life insurance goes sideways. Address those issues and you could have a constant supply of prospects.
     
  10. practicalguy
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    practicalguy Member

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    Thanks everyone. I'm currently leaning in a direction that avoids ALL MLM type organizations. I still have an opportunity to pursue a new Farmer's agency but what I am leaning towards are the financial sales opportunities.

    Does anyone have any thoughts or direct knowledge of working for Prudential, AXA, New York Life or Horace Mann??

    I would really appreciate the input.
     
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