What Questions Do I Need to Ask?

[Itworks]

Hello,

I wont go into long story on how I got here, so I will just jump to where I am at. There are 2 companies that I will be talking with this week. I am new to Insurance, however not new to sales. I dont have my license, but plan on taking classes for Life/Health. One company is telling me they are a niche market as they sell to Retired Teachers Association (AMBA)and the other is Shelters Insurance. One is straight commission, 6 months advanced and the other next 6 months for a total of 30%. The DM gives out leads in my area which I am being told is ripe.
Shelter has a office which is vacant (not sure why??) and will need someone to take it over. They pay you while you are learning. Get P/C license and then 2 weeks in training and then DM works with you in office for 4/6 weeks. Take Life/health and then 2 more weeks in training(different state) and then DM works another 4/6 weeks in office along side. The ultimate goal is for the incoming business to exceed what they are paying and then at that point you would be commission. From their website they even pay vacation, etc. Quite confused and it sounds good, but still wonder why the office is vacant. I know the person running it was from another town and maybe he wanted to go home or the business just isnt going to make it here.

So, what questions do I need to take to these interviews to figure out which is going to be the best fit. Obviously, the base pay sounds safer, but still leery. One company I would only need Life/health and the other I would need life/health P/C.

I just dont want to jump blindly and need to know what questions a newbie would need to know to figure out what the real deal is. Dont want to hear myself saying "Thats not what you told me"

 

[briko3]

Is there a way to talk to the old agent and see what he left?

 

[xrac]

Is there a way to talk to the old agent and see what he left?

This is definitely worth doing!

 

[moonlightandmargaritas]

The DM gives out leads in my area which I am being told is ripe.

You would expect something different? If I had a nickel for every time I've heard this over the years...

Requires some verification by you!

 

[somarco]

Ripe can also refer to putrid . . .

 

[Itworks]

As far as talking to the shelter rep, no I wont be able to do that..

The only reason I am considering AMBA is my uncle who is very successful brought it to my attention. The area where I live has not been worked. So, I do believe that part. He has no reason to lie to me and wouldnt. If it would be anyone else I would be like "sure."
Is there any questions or any posted on what questions I need to ask during both of these interviews...

 

[briko3]

Here's the only question I would make sure to ask:

"Who's the guy that was here before me?" Then I would look him up and talk to him if they're not willing to give you his information.

 

[Itworks]

Okay, but other than talking to the person- what other questions are important.. I feel I should have a list of things to ask the DM on Wed and then the other company on Thursday.

 

[briko3]

Do you provide leads (if so, do you have to pay for them and are they exclusive to you or shared)

Explain what the training consists of.

What are the production requirements for the base pay.

What does an average agent working the retired teacher market make their first year (3rd, 5th)

Are you free to sell other companies if the company you're working for doesn't fit the client or are you forced to make the product fit.

Do you have to pay for office space in the future?

Are there any out of pocket expenses that you need to know of in the next few years. (Do you pay your own E&O, licensing fees, etc.)

When they go on the first few meetings with you, is there a split or is that considered training that you get a full comission for?

Why did the last agent leave?

What's his name.



It really comes down to the feeling you get with the people you're going to be working with. Sometimes people will lie to get you contracted under them so you can't always go only on the answers to the above. The main thing is to get them talking to see if there is chemistry and a feeling of trust.

Good luck.

PS - I would still want to talk to the last guy. There's a reason that he left. If it's as easy as it's being portrayed to you why would he leave?

 

[Itworks]

Thanks so much. I feel I have a little direction and control over the interview....