Selling Insurance As a Second Job?

[UtahUte]

First, a 135 is not possible. 140 is the lowest score and will not get you into any school (70,000 people apply to law school each year). There are 200 law schools in the U.S. The U.S. News ranks the schools from top to bottom. The bottom 100 schools are not that hard to get into. (3.0 gpa and around the 60th percentile on the lsat, 154 I think?). However, these schools kick out the bottom 1/4 of the class after the first semester because the bar passage rate will drop if they let these people stay in school. (so no its not that hard to get into these schools)
Getting into a top 100 school takes some hard work and some brains. The further up the rankings you go the more competitive it gets. For example, I got in the 80th percentile on the lsat and had a 3.7 gpa. It was only good enough to get me into a large state school ranked between 50 and 75.

An education does not make you "smart" per se but a law degree will give the impression that I am smart and know what I am doing in any field. For example, my wifes uncle is a general agent for a life insurance company. He says 7 of his top agents have a law degree. He thinks its an issue of credibility. Intelligence comes with disipline but without disipline I would have never made it into and through law school.

 

[YouGotMyMoney]

I just dont understand why anyone that could be a lawyer would want to do this...YOu have to be really smart to do what your doing,,so why even think about ins??

Seems to me that if an agent spent as much time "working" his business, as an attorney does and get's professional training, an agent could make way more than any lawyer especially in the short term.

 

[HarryRenard]

Seems to me that if an agent spent as much time "working" his business, as an attorney does and get's professional training, an agent could make way more than any lawyer especially in the short term.

That was point.

The elder law attorney I work with gets the bulk of his business from a core of 10-12 estate planners, over the past 10 years he's watched them become millionaires and he's done all right but not that well.

The funny thing is HE was the main reason these guys are so successful, he taught them elder law and how to use it to make big bucks.

Of course Attorneys can make big bucks but those are good attorney's in specialized fields.

The "attorney to be" seems to have a good head on his shoulders and I am sure he will do just fine, working at the firm and mixing in some insurance work.

 

[VacantHomeIns]

No, you can't focus on insurance in your spare time and do anything if you are on the production side. If you want to sit in some busy agent's office and take overflow calls, well anyone can do that and so can you but why be in insurance? Also, you have to be VERY CAREFUL. There is no way you can be seen in a conflict of interest with your law career. For example, you can't use your law degree in any way to sell insurance or piggyback. This could be a violation of regulation on the law side and the Dept of Insurance side.

 

[briko3]

The quickest way to see is to do it. It doesn't cost much to get your license and get contracted (and you'd probably get some training through the person you work through). Then hit the phone/streets/friends/family, etc. and see how it goes. I doubt you'll be making $3000 extra per month, but if after a few months you're making $1000-$1500 extra, you can decide if you want to keep it up.

It's really not too big a commitment on your part to try.

 

[Mark]

Does an ins agent that is also a lawyer need to buy E and O insurance. Now that is the real question....I guess it depends on if he is a good lawyer or not.

 

[insuranceexec]

First, a 135 is not possible. 140 is the lowest score and will not get you into any school (70,000 people apply to law school each year). There are 200 law schools in the U.S. The U.S. News ranks the schools from top to bottom. The bottom 100 schools are not that hard to get into. (3.0 gpa and around the 60th percentile on the lsat, 154 I think?). However, these schools kick out the bottom 1/4 of the class after the first semester because the bar passage rate will drop if they let these people stay in school. (so no its not that hard to get into these schools)
Getting into a top 100 school takes some hard work and some brains. The further up the rankings you go the more competitive it gets. For example, I got in the 80th percentile on the lsat and had a 3.7 gpa. It was only good enough to get me into a large state school ranked between 50 and 75.

An education does not make you "smart" per se but a law degree will give the impression that I am smart and know what I am doing in any field. For example, my wifes uncle is a general agent for a life insurance company. He says 7 of his top agents have a law degree. He thinks its an issue of credibility. Intelligence comes with disipline but without disipline I would have never made it into and through law school.

This should put to rest a couple of claims that you have made.


Law School Admission Test - Wikipedia, the free encyclopedia



The LSAT in itself is a ridiculous test. One of the most beneficial things that I took out of law school; was the ability to look at things more subjectively. Being a part of the Judicial system simply means that you must have an opinion before you can interpret.

I would tell you what I made on the LSAT, but you would just tell me that it was not possible.

Congratulations on finishing law school.
- - - - - - - - - - - - - - - - - -

Does an ins agent that is also a lawyer need to buy E and O insurance. Now that is the real question....I guess it depends on if he is a good lawyer or not.

It depends on if the attorney is a practicing attorney.

 

[Mark]

insuranceexec what is your status of becoming an lawyer?

 

[insuranceexec]

insuranceexec what is your status of becoming an lawyer?

I have no plans on becoming an attorney; which means taking the bar. I will also graduate from law school in May with my JD with a speciality in Trusts and Estates, and IP.

Mark, you are smarter than you give yourself credit for sometimes.

Keep up the good fight.

 

[DLierMN]

The hardest part about the insurance business is finding decent leads to sell to so if you have a source for that then go for it. You could always get your license and start talking to everyone you know and help them with something like term insurance - then work on getting referrals. There are lots of brokerage general agencies that have excellent websites with quotes, forms, etc. - and several carriers have simplified applications that can be done on paper or online very quickly. If the BGA is doing a good job staying on top of your business then you don't have much work to do after the sale is made so the time committment is minimal. Good luck.