Selling Insurance As a Second Job?

[BNTRS]

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.

I like your drive and now that I know you have an uncle who is an general agent my recommendation would be to work with him if at all possible. I'd also look for the first opportunity to go private practice in law and possible focus on estate planning, higher end employee benefits, and charitable gifting. Thos are traditionally the big three areas of advanced planning in the financial services/insurance world.

Maybe working with the uncle is little more than learning some ins and outs of the business. Perhaps he's not the one whose agency you want to get tightly acquainted with. One of the first recommendations I would make is find out more about your local NAIFA chapter and think about joining. As an attorney, I think you'll make more money with insurance if you develop relationships with agents rather than trying to do it yourself. Understanding the purpose behind an ILIT, CRT, or Buy Sell is one thing, but understanding the products that are avaialable to fund these is something completely different, and that's where a partnership with someone full time in the industry can help big time.

Are you carrying professional liability insurance through your law firm? What about a side private practice right now?

 

[johndale]

It's all in the number's game though. Nowadays, it's good if you don't put all your eggs in one basket.

 

[thomascaelyn]

Sorry...I don't have an idea. I would suggest you to go for Google Search.

 

[LGilmore]

The question becomes as a customer would I trust someone who is a "jack of all trades"?

We can wear as many hats as we want, but will it attract or repel clients?

 

[arnguy]

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.

Mark, there is an old adage in the legal profession: "He who is his own lawyer has a fool for a client." Thus, the answer is a lawyer should have E&O insurance.