What Will You Do if and when This Happens

[Mark]

I got to thinking about what if Obama really does pass some type of health bill and all of the health agents are out of a job. Not only would that suck for them, but it would suck for us life agents also. They would flood our market switching over to selling life products. I’ve seen the F.E. market already get flooded by those term junkies, that can’t chase new homeowners anymore…Okay, I was a term junkie myself, but that is beside the point.

I’m seeing more and more agents flood the F.E. market and if Obama’s whatever plan passes, we really will be stepping over each other then.


If you can no longer sell Health insurance, what would you do? Would you try and just do life and other products or would you just get out of the insurance business all together??

 

[GreenSky]

I would go back to being a male escort.

Rick

 

[TXINSURANCE]

I will continue selling until they cut commissions to a point I can no longer stay in business, and that will likely not be immediate.

 

[on7of9]

I would go back to being a male escort.

Rick

last time i try that, i almost starved to death. do you offer training?

 

[Guest]

I heard on CBS News the other night that starting in 2011 there will be 10,000 "boomers" a WEEK turning 65.

I also read that the average age of life agents is around 52.

I think there will plenty of biz for everyone... however a lot of health guys will have a problem in the life world. Life is not nearly as transactional as health is. Life is more relationship oriented, especially if clients are looking for someone to be more of a financial advisor than just the guy who sells them a term policy.

In the life market you really have to CARE about the "total" client. Many health agents are narrowly focused on the product and not the 'holistic" client. However, that can be fixed with training.

As for myself (I'm 62) I'm looking for someone to sponsor me for a 6 and 66 license as I think I will be more valuable to the "boomer" market that I currently market to. Unfortunately, so far I've not found a company who is looking for new security guys to sponsor as there are a plethora of existing reps blown out from the banks and wire houses who are looking for a new place to hang their paper.

Suggestions anyone?

 

[Crabcake Johnny]

Ditto; if it was announced that the legislation would put health agents out of a job I'd work up until the very last day I could submit an application.

I very much doubt the life field would be flooded with former health agents. I, for one, have no passion for selling life.

What would I do? I'm not a one trick pony. I've seen drastic changes in the MA market and annuity market - you learn to adapt or go to work for Best Buy.

 

[insuranceexec]

I heard on CBS News the other night that starting in 2011 there will be 10,000 "boomers" a WEEK turning 65.

I also read that the average age of life agents is around 52.

I think there will plenty of biz for everyone... however a lot of health guys will have a problem in the life world. Life is not nearly as transactional as health is. Life is more relationship oriented, especially if clients are looking for someone to be more of a financial advisor than just the guy who sells them a term policy.

In the life market you really have to CARE about the "total" client. Many health agents are narrowly focused on the product and not the 'holistic" client. However, that can be fixed with training.

As for myself (I'm 62) I'm looking for someone to sponsor me for a 6 and 66 license as I think I will be more valuable to the "boomer" market that I currently market to. Unfortunately, so far I've not found a company who is looking for new security guys to sponsor as there are a plethora of existing reps blown out from the banks and wire houses who are looking for a new place to hang their paper.

Suggestions anyone?

Talk to an insurance company that you already have a relationship with; i.e Lincoln, Allianz, etc...

Many of them have a securities side to their business and would be more than happy to sponsor you. I hope this helps.

 

[David C]

Al, ONESCO, the BD for Ohio National might be willing.

I also think there will be enough business for true professional business men who happen to sell insurance. The schmucks may suffer.

As far as the insurance business changing to the point where it's not enjoyable, not worth the hassle, whatever, I think you need to have your KMA fund ready.

Most of the successful men I know have other avenues of income. I'm not talking MLM (Most Lose Money).

 

[DS4]

New legislation is not going to put us out of work. You can expect that somewhere down the road, commissions are going to shrink. I expect this to happen on under 65 and employer plans especially. Even by increasing your volume, you are going to have a hard time maintaining your current level of income. I'm 57. I'm lucky I'm at the end of my career.

 

[Skipper]

As for myself (I'm 62) I'm looking for someone to sponsor me for a 6 and 66 license as I think I will be more valuable to the "boomer" market that I currently market to. Unfortunately, so far I've not found a company who is looking for new security guys to sponsor as there are a plethora of existing reps blown out from the banks and wire houses who are looking for a new place to hang their paper.
Suggestions anyone?

Talk to some of the local independent Financial Advisors. Most won't have a problem getting you contact info for the B/D holding their licenses. Some may be willing to sponsor you. Just remember that sponsoring, like most lunches,, ain't free.