What Will You Do if and when This Happens

[Crabcake Johnny]

David - I agree. Multiple legitmate steams of income has always been the way to go. That doesn't include hawking Acia Berry bs.

 

[CHUMPS FROM OXFORD]

I have a few other websites on the back-burner. I'll be ready, although, as mentioned, our commissions may be cut, but will still be fine.

 

[Crabcake Johnny]

This isn't like finding out you're laid off one random Monday morning. I talk to health agents all week who act like one day they're going to wake up and pay comes to a halt.

We'll have a huge head's up - likely years.

 

[TXINSURANCE]

Chumps might have to expand and buy leads over 15 feet from his office...

 

[CHUMPS FROM OXFORD]

I don't think I could bring myself to do that!

 

[Googly Moogly]

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?

NY LIfe, Mass Mutual

 

[RJT Consulting]

From everything I have read, conferences attended etc, I do not believe that it will be the death of the health agent should ObamaCare pass. You will certainly have individuals who are looking for the Government to assist them who we will lose from our pool but many employers want nothing to do with Government interference.

 

[scagnt83]

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.

Good advice.
I know that lincoln is an independent B/D (thats important), Allianz probably is too but im not sure...

If your already doing business with a life company and they have an indy B/D, they will be more than happy to sponsor you.

If they have a captive B/D they will be eager to as well, but dont go this route!

 

[slushhhpuppie]

From everything I have read, conferences attended etc, I do not believe that it will be the death of the health agent should ObamaCare pass. You will certainly have individuals who are looking for the Government to assist them who we will lose from our pool but many employers want nothing to do with Government interference.

While many employers may want nothing to do with the public option, that won't stop their mass exodus from private plans.

As a business owner, if I want to keep my private plan they are going to add 8-10% to my payroll taxes in ADDITION to the premiums that I already pay for my employees' benefits.

Long story short...... I (along with every other small business in the country) would have no choice but to dump all of my employees into the public option.

What other options would I have? Let those punitive taxes bleed me dry and put me out of business?

 

[insuranceexec]

Good advice.
I know that lincoln is an independent B/D (thats important), Allianz probably is too but im not sure...

If your already doing business with a life company and they have an indy B/D, they will be more than happy to sponsor you.

If they have a captive B/D they will be eager to as well, but dont go this route!

I am glad to see that at least one person recognizes good advice.