Hello, and thanks for this great site!
I started thinking about selling insurance two days ago, so I'm probably as uninformed as is humanly possible. I am currently the Finance Manager for a medium-sized logistics company, and have previously been a Financial Analyst in the construction industry, and started as a Staff Accountant for a life insurance company. I'm 32-years-old, and earned my MBA in 2009 (my focus was in Finance, my undergraduate degree is Liberal Arts with a minor in Economics).
I owned a restaurant for a while, after being laid off from my Financial Analyst job when the building industry took a nose-dive a couple of years ago. The restaurant didn't work out, but I absolutely loved the experience of working for myself (I didn't even mind the 16 hour days). I wouldn't go in to the restaurant business again, but I always have my eye out for some opportunity that will allow me to go back to working for myself.
So, here I am. I'm looking for some advise, and perhaps a reality check.
The reasons that I'm considering insurance sales are: 1) I believe I can start on a part-time basis; this will obviously mean slow growth, but I don't see any reason why I can't make some reasonable headway by doing some cold-calling in the evening, and door knocking on the weekends, until I have enough of a foothold to justify leaving my guaranteed (and reasonable) salary behind. 2) I got my MBA in Finance because I intended to get in to Financial Services; unfortunately, the financial market died at the same time I was finishing my degree. Guys with years of experience as brokers/financial services producers were finding themselves without jobs, and I felt that it was more prudent to stay in corporate finance, where at least I wouldn't starve to death. I think that getting in to insurance sales would satisfy my desire to help people with financial planning (or, at least, risk management).
I want to sell P&C, and health insurance (individual and group), and life insurance. I would also like to sell extended warranties for personal watercraft, motorcycles, and ATVs, which I'm not sure even require a license. So, I'll buy the books to study for the P&C and and health insurance tests, but then what?
I've looked at some insurance company's websites to see how one gets an appointment to sell for them, and at least the ones I looked at want you to show that you've built a book of business already. I've also read on these pages about working through a general agent, so I'd be interested in learning more about that (is there an especially good GA in the Kansas City area to talk to?).
Anyway -- I know this was sort of rambling, but I guess it's just a call for help more than anything. I'd welcome any and all comments and advise; If anyone has some work I can volunteer for to help learn the ropes, that would be great! I'm open to any and all advise (except the advise to go captive, since I have no interest whatever in that).
I started thinking about selling insurance two days ago, so I'm probably as uninformed as is humanly possible. I am currently the Finance Manager for a medium-sized logistics company, and have previously been a Financial Analyst in the construction industry, and started as a Staff Accountant for a life insurance company. I'm 32-years-old, and earned my MBA in 2009 (my focus was in Finance, my undergraduate degree is Liberal Arts with a minor in Economics).
I owned a restaurant for a while, after being laid off from my Financial Analyst job when the building industry took a nose-dive a couple of years ago. The restaurant didn't work out, but I absolutely loved the experience of working for myself (I didn't even mind the 16 hour days). I wouldn't go in to the restaurant business again, but I always have my eye out for some opportunity that will allow me to go back to working for myself.
So, here I am. I'm looking for some advise, and perhaps a reality check.
The reasons that I'm considering insurance sales are: 1) I believe I can start on a part-time basis; this will obviously mean slow growth, but I don't see any reason why I can't make some reasonable headway by doing some cold-calling in the evening, and door knocking on the weekends, until I have enough of a foothold to justify leaving my guaranteed (and reasonable) salary behind. 2) I got my MBA in Finance because I intended to get in to Financial Services; unfortunately, the financial market died at the same time I was finishing my degree. Guys with years of experience as brokers/financial services producers were finding themselves without jobs, and I felt that it was more prudent to stay in corporate finance, where at least I wouldn't starve to death. I think that getting in to insurance sales would satisfy my desire to help people with financial planning (or, at least, risk management).
I want to sell P&C, and health insurance (individual and group), and life insurance. I would also like to sell extended warranties for personal watercraft, motorcycles, and ATVs, which I'm not sure even require a license. So, I'll buy the books to study for the P&C and and health insurance tests, but then what?
I've looked at some insurance company's websites to see how one gets an appointment to sell for them, and at least the ones I looked at want you to show that you've built a book of business already. I've also read on these pages about working through a general agent, so I'd be interested in learning more about that (is there an especially good GA in the Kansas City area to talk to?).
Anyway -- I know this was sort of rambling, but I guess it's just a call for help more than anything. I'd welcome any and all comments and advise; If anyone has some work I can volunteer for to help learn the ropes, that would be great! I'm open to any and all advise (except the advise to go captive, since I have no interest whatever in that).
