Time to go independent. How do I break my ties and move on quickly.

[fjman]

I'm ready to dump my captive/contracted agent status. I'm tired of the nagging manager and GA. I'm tired of wasting my Mondays in a classroom hearing the same stuff over and over. I've got my plan for success and I want to run with it. I'm contracted with one of the larger life companies. Now for my questions and concerns.

I good bit of business brokers through our office to a number of carriers. I will probably write a lot of the same business so should I just take a broker contract from them? Or will I make better money brokering elsewhere. I'm just talking Life, DI, and LTC here. I beleive commissions run about 55% across the line for most brokered products...

I'm happy with the company I write health through. I primarily write individual Aetna. I like their 1st dollar plans and producer world makes it pretty easy.

Do I need a special license to operate independantly or just the normal Life & Health license, some E&O and appointments with various carriers?

Lastly, I'm in the hole. Is it likely my GA will require me too settle my debt to the agency?

Any opinions will be greatly entertained!

 

[moonlightandmargaritas]

People that make changes are either running "to" something, or running "from" something.

It's rarely successful if you're running "from" something.

Double-check to make sure you really "want to". A reality check if you will...

 

[HomeService]

Sometimes you will find the companies will not "release" you to work independently if you have the contract through that agency. { maybe a year, maybe 6 mos.} Plus, if you owe money, you had better get that paid quickly. Sometimes. I don't know how your contract is set up. If you are a straight up broker outside of that agency, you are fine. Just work from home, but remember, it is sometimes harder for some folks to get motivated working from home, and they like an office with a mgr for support. That's some folks. Other folks work well from home. Everyone is different.

 

[James]

I'm ready to dump my captive/contracted agent status. I'm tired of the nagging manager and GA. I'm tired of wasting my Mondays in a classroom hearing the same stuff over and over. I've got my plan for success and I want to run with it. I'm contracted with one of the larger life companies. Now for my questions and concerns.

I good bit of business brokers through our office to a number of carriers. I will probably write a lot of the same business so should I just take a broker contract from them? Or will I make better money brokering elsewhere. I'm just talking Life, DI, and LTC here. I beleive commissions run about 55% across the line for most brokered products...

I'm happy with the company I write health through. I primarily write individual Aetna. I like their 1st dollar plans and producer world makes it pretty easy.

Do I need a special license to operate independantly or just the normal Life & Health license, some E&O and appointments with various carriers?

Lastly, I'm in the hole. Is it likely my GA will require me too settle my debt to the agency?

Any opinions will be greatly entertained!

I'm not sure if life after Guardian will be any better? As a IA you'll recieve higher commissions but if you can not sell Guardian products I'm wondering how effective you will be juggling mulitple products from mulitple carriers? You never know, people respond differently in various enviroments, you might become a top producer as an IA.

 

[moonlightandmargaritas]

Why not just get a brokerage contract through Guardian?

 

[fjman]

Why not just get a brokerage contract through Guardian?

Thats what I'm thinking.

Guardian does offer a great contract but I also feel its products are geared more toward the business market. At this point in my career, the individual market seems to be more my cup of tea. I'd like to write a ton of health insurance and cross sell some life and DI while I'm at it. This wasn't so well received when we went over my business plan for 08.

People come to me asking for health insurance, what if I actually focused some time on it?

 

[fjman]

People that make changes are either running "to" something, or running "from" something.

It's rarely successful if you're running "from" something.

Double-check to make sure you really "want to". A reality check if you will...

I would be running in the direction of...

 

[moonlightandmargaritas]

Thats what I'm thinking.

Guardian does offer a great contract but I also feel its products are geared more toward the business market. At this point in my career, the individual market seems to be more my cup of tea. I'd like to write a ton of health insurance and cross sell some life and DI while I'm at it. This wasn't so well received when we went over my business plan for 08.

People come to me asking for health insurance, what if I actually focused some time on it?

I couldn't agree with you more. I spent four years on a Guardian FR contract.

I like to go in with the health because it's a demand product. I do work with the business market almost exclusively though.