Questions to Ask in Interview Process??

[Andyp95]

Just getting started in the insurance business and am very new to the financial services industry. Just got my life and health licensure and now have interviews lined up with Physicians Mutual and Mutual of Omaha in Nebraska to be independent agent.

What questions should I be asking of interviewers?

Questions I have thought of..

commission structure, any salary or draw while starting up, any financial stipend allowance for home office start up, i.e. office supplies, computer, training and support programs for new agent, bonus plan, segment of the market that company targets, how long do accounts usually stay on the books, how long to be 100% vested in renewals, company matching profit sharing, any qoutas or is my income really up to me, etc.

Any important questions that I may have missed.

Please feel free to tell me if I missed anything important...

 

[arnguy]

WIIFM----what's in it for me?

 

[DecisionMan]

1. What specific training will I receive?

2. Will anyone work with me or mentor me out in the field?

3. How many are still here after a year? Can I talk with them?

4. How many are still here after two years? Can I talk with them?

5. What happens if I leave or if you make me leave? Am I blocked from any appointments? Is there a non-compete for a certain area? What happens to my renewals? Who owns the client relationship?

In my experience, the questions should focus more on what happens if things go wrong more than if they go right.

Insurance companies are notorious for being body shops so that only a precious few make it. So stack the deck in your favor, realizing the high probability the company will not come through with their commitments.

If that happens, and I'm not saying it will, but if it happens you'll need to make a move without your hands being tied.

Get as much training as you can, so if you leave you'll be able to stay independent.

Just my opinion.