Take tests first or wait? Maybe go on my own

[Charpress]

FMO=field marketing organization. There are other terms for this, but basically the FMO is two steps up the food chain from the salesman. I've had folks from Lincoln actually refer to it as the food chain.

Insurance companies don't like to contract with an individual, as a rule. An FMO contracts with numerous companies and your contract with the insurance company is through the FMO. In return for getting an override, they provide training and marketing for you. Like everything else, some are better than others, some are much better than others.

So, flow chart wise it is:

you ---> agency ---> FMO ---> insurance company

You can sometimes skip the agency part but your commissions are still going to be street level. That is, you won't get more. If you were able to contract directly with the insurance company guess what commission you get: street level. I suggest that you get with an agency and use that agency's FMO. That is a step you need to be extremely careful about.

As for health insurance, that is a rough area with mucho competition. Also, small commissions. You have to sell a lot to do well. Not saying it can't be done, but I wouldn't go that route. Of course, I'm going by personal experience and others may have better feelings about going that way.

I know folks that would probably be interested in recruiting you, but only after you are licensed. Again, commission only. They will show you how they operate, bring you on sales calls, show you what they sell and how they sell it. That is the way I got started. They will have an interest in seeing you succeed since their own income depends partly on you.

 

[Crabcake Johnny]

Wow! Scott's deal looks great! I as well just need to product training. If I can stay working for abit that would work great as well. Why doesn't eeryone just go through him? I don't really see a reason not to at least at this point. I might have some time in the afternoon to call him and check things out.
I've just been putting togehter a marketing list getting ready for when I have a handle on something. Thanks again for your help. Seems like his site should be a sticky here.

I'm doing my best to get everyone I talk to to go through Health Choice One. Why? Because you're carrier direct unless you want or need advances through certain carriers.

He backs up the talk with the walk - upfront release in writing. You're dissatisfied? Walk.

But won't agents just use them them dive out for higher commissions? No - he also offers GA contracts and top commission in the first place.

If you treat people right they don't want to leave. If you don't treat 'em right then you have to trap them in contracts.

Do NOT sign on with ANY agency that is not willing to give you a release upfront!

 

[joshril]

HCO is a great outfit, but you need to decide which line of business you want to sell before you sit for an exam. Another poster mentioned working part-time with insurance while working a full-time job. Do you know how many successful agents I've met that have done this?

Not many! It's hard to understand something as complex as health insurance when you can't devote your attention to it full-time. I'm not saying you can't make a sale here and there, but in my opinion, you are doing your clients a disservice if you are not a full-time agent or at least a part-time, full-time agent... lol

 

[GreenSky]

Do NOT sign on with ANY agency that is not willing to give you a release upfront!

I remember when I joined this forum I posted this over and over again. It seemed that this concept of a "pre-nup" was unheard of. Now between this forum and the association, agents are becoming aware of what to look for.

The sooner we get rid of dishonest marketers the better. The fact that the need for a release is not included in the contracts signed by agents is criminal.

Rick

 

[Crabcake Johnny]

The "trap" is this industry's dirty little secret - not in writing on hardly any contract. You can go direct....and you're still trapped. Direct, in some cases, can be worse then going through a truly supportive agency. In a lot of cases you can run direct through an agency; same commish, just better support - possibly free leads.

Agencies across the country can sit back and relax, knowing they can provide whatever lacking service they want and their agents have no place to go.

No...not all agencies are like that and some are fantastic. Those agencies will never have a care in the world since their agents are loyal, treated fairly and nothing will change.

What will change, over time of course, is the nefarious agencies luring agents in with false promises of "top commission" and support - providing neither and acting quite smug as their agents come to realize they are trapped.

That model...over time, will go bye bye.

 

[gogoguy]

I went dow and picked up the forms for the license here in Kansas today. I will get my license first and then take it from there. seems like the most money is in Health and Life? I think I will at least start there unless someone has a good reason not to. My state just lets you take the test with no class or anything but I think I will sign up for a small class and but a study guide they put out.
We have put a small part of our printing business up for sale to help with the start up time. We really turned into more of a marketing company that had printing equipment so alot of that should help me get going. I plan on doing ALOT of direct mailing. We can do it so cheap in house that with the price of gas our sites on the net and printed materials will be a big part of our leads I would think.
Thank you for all that has helped me try to get the ball rolling.

 

[gogoguy]

Do I need good persoanl credit to go with Health Choice, or anyone else for that matter? I looked at the app. and it asked about bankruptcy. With the real estate market cooked and thanks to 2 renters we have 2 destroyed houses and a "friend" that killed our credit(long story). We have been told by council to file for protection and are most likeley going to do so. This would be personal not business if that matters at all.
Had great credit until 4 months ago. Sucks but that is the deal. I've talked to a few guys in other industries and they seem to plan bankruptcy it looks to me so it must not be as bad as it sounds.
Anyway anyone that answer this please do...

 

[Crabcake Johnny]

Listen, the best you can do is fill out the appointment paperwork and be truthful. A few carriers may require statements. Contact Scott at Health Choice One and at least get the ball rolling.

I was in the same boat. When Bank of America got bought out Nations Bank my wife's entire department was let go. Soon after that, the company I was working for went under and our income crashed - we managed through savings however our credit got nailed in the process.

I had to write a letter of explanation to GR and everything was fine. They were the only carrier who even wanted a statement.

 

[gogoguy]

I will call Scott. I just didn't want to start classes and take the test only to find of I have a license yet no place to put it to work. Scott does ask about bankruptcy on his app. so I just assumed it was a problem, maybe not.
I'm ultimately reasonsible my the spot we got in but I had ALOT of help getting there .