Where Should I Start

[rzkas]

hi? i need some help and guide. i want to run an insurance office. i am currently taking my classes for life, disability, causality and property.
after passing my exams what should be my next step to open/establish an insurance office? get appointed by either one insurance company of more than one insurance company?
what are the advantages and disadvantage of being an independent and captive
I live in Everette Washington.

thanks for your guide and directions.

 

[xrac]

Find an agent or agency to go to work for and learn the business. You sound too green to start on your own.

 

[JGold814]

It can definitely be more lucrative to work independently and get appointed by a bunch of companies. However, without any prior experience, I would definitely learn the ropes working with an agent/agency for a few years before going out on your own.

If you want to go with the independent agent route, i'd suggest working with a brokerage house. They can definitely make your job a lot easier.

 

[medsuptage]

Just a heads up, if you plan to sell in Washington only and have any plans to go Independent.

Medsupps, health insurance, Final expense are simply not an option.

You can sell them as a cross sell but you're not going to survive of any of them.

Med supps have a max commission of 10% to be split with everyone including your upline and brokerage. That means you get 5-8% FYC!

FE has a minimum face of $25,000 in this state.. I for the life of me cannot imagine what the Commissioner was thinking when they come up with this ridiculous rule. On top of that most FE carriers aren't in WA because our Commissioner is way to much of a hassle.

Best of luck to you!

 

[The Gimp]

FE has a minimum face of $25,000 in this state.. I for the life of me cannot imagine what the Commissioner was thinking when they come up with this ridiculous rule. On top of that most FE carriers aren't in WA because our Commissioner is way to much of a hassle.

To my knowledge, Americo will now write FE as low as $5k depending on age and health.

 

[notfonzy]

Americo Minimum Face Amounts in WA:

$5,000
Male Nonsmoker 50 - 66
Male Smoker 50 - 60
Female Nonsmoker 50 - 72
Female Smoker 50 - 69

$25,000
Male Nonsmoker 67 - 85
Male Smoker 61 - 80
Female Nonsmoker 73 - 85
Female Smoker 70 - 80

 

[medsuptage]

Hmm, didn't know that. Okay you can sell Americo to non smoking Males under 66 and females under 70.

And you can sell MoO Express issue WL policy down to 5k I believe.


Other then that to my knowledge your SOL.

Also, I've never seen a group of people with so little care for life insurance like washington.

I've done FE mailers here and returned .02% lol. Should have never done it in the first place but I was a rookie.

 

[rzkas]

good inputs so far. It seem like everyone is recomending to get a job first.
Where can i look for and apply for insurance job online

 

[xrac]

good inputs so far. It seem like everyone is recomending to get a job first. Where can i look for and apply for insurance job online

Forget online. Put on a suit and tie or if you are female dress up and go to the agency in your town and see who might be interested in hiring you. Tell them you want to learn the insurance business.