Suggestions to My Plan Starting Out

[VaDwayne]

DHK you have a good idea of what my situation is. I picked Colonial because its the only place I went to an interview with an insurance company. It turns out I knew the district manager and they have great training and support. The vibe in the office is great and there is room to move up the latter rather quickly. However I have noticed the commissions are lower then most but the bonus structure seems to make up for it. I can live great on 35-50k a year for now, 100k is a 3 year goal.

I don't mean to be negative to you, but you will not make this kind of money with Colonial for a long time. When I first got my license I worked for Colonial. I called on a minimum of 30 businesses a day. I met all of their 90 day goals, and I made very little money for my time.

They push their limited benefit medical plans, and they pay hardly anything. Your expenses will exceed your paycheck..




I am doing insurance because of the chance to make my own schedule unlike the car business. I did not even consider Aflac after talking to them and I am not sure about AIL. I used to detail for a district manager for AIL in Orlando. His name was Mark Zipper and he was doing really really well as were two or 3 of his managers. The rest of the agents, 40 or so, seemed to be chasing dreams and not making much. It seemed like whoever got the good leads did well and the rest not so much.

What other options could I consider selling in addition to Colonial or instead of Colonial that would make me more money. I do understand the fact that I need to make money doing this. I have made 7-10k a month in the car business and it is nice for sure. What life insurance companies could I consider that would make more of a profit or that I could use in addition to Colonial. Life insurance is paid at 50 percent of the yearly amount at Colonial.

You can make 110% with some carriers..

I have an interview with NY Life but I am not sure what all they offer yet. I wish some of these companies offered at least a small draw because working with no income off the bat is very tough. In car sales I had a 1500 draw which allowed me to focus on selling because my bills were paid. I want to find the niche that works for me and I know I will in time. I still see myself doing better with individual policies because the marketing seems so much easier however this office is confident in the system they use and it seems to work from what I have seen so far. I am studying all the products they offer and start training on Monday.

I would start with some good life carriers, med. supps. and final expense. The Med. Supps and Final Expense pays quickly. After you get your feet on the ground, sell what you want, and enjoy. I now only sell commercial insurance and med. supps. and I am lovin life.

I hope this helps.....

 

[GoForBroker]

That does help, what kind of money did you make in your first 90 days at Colonial? I have been told some of the people there did 20k the first 90 days. Did they have the same bonuses they have now? They say I can make 4-5k a month but it seems very hard to do closing groups since I will only be opening at first. What company would you suggest if I want to focus on individuals and just sell the life, med supps and final expense? I don't want to spend all this time with them and make 20k when I can be somewhere else and make 50k. They want me to open accounts they can enroll, I want to sign up people on life but this forum is really all the advice I got. I am talking with NY Life on Monday, the only problem with them is they are almost an hour away from me and it would be a drive for the training. Would it be a bad idea to give Colonial a shot and learn the business and then after a few months make a choice of where to go if the money is not coming in. I have to think if I move up to the next level and get some people under me I can at least make 40-50k my first year but if you guys say no I trust your advice. Thanks

 

[VaDwayne]

That does help, what kind of money did you make in your first 90 days at Colonial? I have been told some of the people there did 20k the first 90 days.

Bullc*** You have been sold a bill of goods. That should end your desire to work for them.

Did they have the same bonuses they have now? They say I can make 4-5k a month but it seems very hard to do closing groups since I will only be opening at first. What company would you suggest if I want to focus on individuals and just sell the life, med supps and final expense?

Contact Todd King on this forum.. TRK3031962

I don't want to spend all this time with them and make 20k when I can be somewhere else and make 50k. They want me to open accounts they can enroll, I want to sign up people on life but this forum is really all the advice I got. I am talking with NY Life on Monday, the only problem with them is they are almost an hour away from me and it would be a drive for the training.

I know nothing about NYL, sorry...

Would it be a bad idea to give Colonial a shot and learn the business and then after a few months make a choice of where to go if the money is not coming in. I have to think if I move up to the next level and get some people under me I can at least make 40-50k my first year but if you guys say no I trust your advice. Thanks

Very bad idea. I am a good salesperson, I worked my butt off, I wrote business, and I wouldn't have made $20,000 for the entire first year and I would have spent that much doing it. Their commissions suck...

I have a Colonial manager after me to let her talk to my current commercial clients and I will make money on the sale. Yeah whatever, like I am going to let some Voluntary Benefits agent screw up my account for a few dollars.

You won't learn the insurance business with Colonial because you won't be there long enough. Drive around in your car for 8 hours a day calling on businesses, only to hear we already have AFLAC, and you will see what I mean.

 

[Ron Van D]

Dwayne-

Go Dawgs!!!!!

 

[GoForBroker]

Dwayne I understand what your saying but you also were working in Virginia. It is different in the south, especially in Alabama. I think I will roll with Colonial and see whats up for a week or two and if it sucks I will dip out. I have to bring home at least 2k a month or its not worth my time. I think every branch is different and I understand I can make more doing other things so I will keep all of this info in mind. I read some of your old posts from 09 and you seem to be a lot like me and your situation is the same coming out of car sales so I def understand what your saying. I will let you know what happens, I just need to learn the business right now.

 

[VaDwayne]

Dwayne I understand what your saying but you also were working in Virginia. It is different in the south, especially in Alabama. I think I will roll with Colonial and see whats up for a week or two and if it sucks I will dip out. I have to bring home at least 2k a month or its not worth my time. I think every branch is different and I understand I can make more doing other things so I will keep all of this info in mind. I read some of your old posts from 09 and you seem to be a lot like me and your situation is the same coming out of car sales so I def understand what your saying. I will let you know what happens, I just need to learn the business right now.

Best of luck to ya...

 

[VolAgent]

Dwayne I understand what your saying but you also were working in Virginia. It is different in the south, especially in Alabama. I think I will roll with Colonial and see whats up for a week or two and if it sucks I will dip out. I have to bring home at least 2k a month or its not worth my time. I think every branch is different and I understand I can make more doing other things so I will keep all of this info in mind. I read some of your old posts from 09 and you seem to be a lot like me and your situation is the same coming out of car sales so I def understand what your saying. I will let you know what happens, I just need to learn the business right now.

What makes you think Alabama is different? How is the unemployment in your area? If its high, I can promise you that people won't be lining up to buy voluntary benefits. And that is even if you can talk the owner into letting you present to the employees.

 

[VaDwayne]

Dwayne-

Go Dawgs!!!!!

Good job from a good team, they should be proud. I was actually rooting for VCU simply because they are a small school who the sportcasters said shouldn't have been in the tournament. I didn't go to school there...

On to baseball season, GO ORIOLES!!!!!!!

 

[mikeincolumbuso]

VADwayne..Why do you like Med Supps so much? How does the Med Supp business and commecial fit together?

 

[VaDwayne]

VADwayne..Why do you like Med Supps so much? How does the Med Supp business and commecial fit together?

I like Med. Supps because I really enjoy the interaction at peoples kitchen table, living room, etc. Another upside is the fact that senior citizens love to give referrals, and they are very easy to sell.

With that said, I no longer market med.supps. because I reall enjoy commercial insurance. I only sell med. supps to my current clients, referrals, and some T65's that are given my name. I average 3-5 med. supps a month.... This is my spending cash..

How do the 2 fit together? THEY DON'T!!!!! I am selling what I enjoy and couldn't care less about cross selling. However, I did sell commercial to a med. supp client that own an HVAC company and wrote their group health too.