Possibly Transitioning to P&C and Farm Bureau

[mj771300]

OK, here's my situation. I've been in financial services now for 6 1/2 years (the last 3 years as an independent) and I've had some decent success. My main focus has been annuities and investment advisory services.

When the market tanked I lost quite a bit of my residual income from the investment advisory side of the business.

Long story short, I'm looking at the possibility of getting into the P&C business, because I like the idea of residual income that won't be tied to the stock market. I was initially going to do this by selling health insurance, but with all that is going on with healthcare reform I feel like the health insurance business might be just as vulnerable as my investment advisory business.

Farm Bureau has an excellent reputation in Kentucky and I'm interviewing with them on Tuesday. I have a few questions:

1) Does anyone have any experience with them, and was it good or bad?
2) I will hustle. What kind of income is realistic in my first year with a captive P&C firm? Will there be any salary at first?
3) What other advice would you "seasoned" guys give an agent who is considering a move into the P&C world?

Thanks in advance for your help.

 

[hdlabs]

Farm Bureau is good company.....must sell life and health insurance--will start you off with a small book of pand c and probably some small monthly "bonus' money if you are hitting your numbers......usually offer very good training for new agents.
I think you should make 25-30k before you sell anything----probably 50k-60k for first year total if you hustle.

 

[xrac]

Welcome! FB is a reputable company and worth considering. Where are you at in KY?

 

[mj771300]

OK, so I interviewed with them last week, and they basically said that I would receive $42K the first year plus commissions and bonuses.

I would have the following sales goals: 21 pieces of business on the P&C side and 4 pieces of business on the life side per month.

They were very candid with me in letting me know that if I didn't hit my numbers, I'd be terminated. How realistic are these numbers for a person new to P&C Insurance?

 

[1manshow]

With a good marketing plan and a competitive product those numbers are very attainable.

 

[hdlabs]

I would say to make sure what "pieces" of business mean but to me if that many aren't sold each month you won't be able to make a living at some point when you're off of validation. Figure a family has a house and 2 cars on average--you help 7 families each month min. there's your p and c and if you can help 1 family with life insurance there's your life quota.

 

[straightshooter]

OK, so I interviewed with them last week, and they basically said that I would receive $42K the first year plus commissions and bonuses.

I would have the following sales goals: 21 pieces of business on the P&C side and 4 pieces of business on the life side per month.

They were very candid with me in letting me know that if I didn't hit my numbers, I'd be terminated. How realistic are these numbers for a person new to P&C Insurance?

Did you go with FB? If so how is going for you?