Your Thoughts?

[DiegoInsGuy]

I have recently left an independent insurance agency where I was an employee. I was mainly selling P/C personal lines and did some Life insurance (term)

I am thinking of becoming independent with an agency focuses on individual health and then sell Assurity Critical Illness and an Accident Plan. They also sell seperate vision plan.

My question to you guys with experience in this: Do you think that this concept has merit in that it is a good way to generate business, and adding these additional policies to a health insurance policy is something that these consumers will do??

They feel the health insurance is used as the lead in and not the money maker just something to get in the door for the CI, Life and other ancillary products.

Eventually I want my primary focus to be with Life Insurance, I just feel that health insurance is looked at as more of a need and gets me in the door a little easier than just talking about Life upfront.

I am getting away from the P/C (personal lines) just because it is to labor intensive as far as the CSR details are concerned.

I will be basically calling on a database of clients and creating my own leads as well. Based on my production they will also help with internet leads or other marketing.

I will be contracted directly with the insurance companies under there IMO. Except with the health carriers, I will be writing under there writing # because they say it's the only way to get the higher commission rate to begin with. Not sure how true that is..

Their software is really nice as well an added perk that will make life a little easier.

Thanks for any and all of your feed back.

 

[taterpeeler]

look, they indy health line is dead for new agents due to the fack that if u take advances this late in the health care reform game there is no conceivable way to have them paid back by the time the implosion happens onto the exchanges.

most times it takes at least 2 years to pay off a large debt balance, most times 3 years and with 01/01/14 a year and a half away you are toast.

the only agents that make it in indy health are the ones with large blocks of biz and who have also incororated other product lines like medicare supps into their portfolio.

sorry for being negitave but the facts and the facts

 

[ABC]

I have to agree with Tater.

The individual health market is up side down right now. The carriers don't know what is going to happen.

Stick with the PC.

 

[taterpeeler]

I have to agree with Tater.

.

thats tater tot sir....

 

[CHUMPS FROM OXFORD]

GET OUT OF INDY HEALTH FAST!!! You need to look at life, disability, FE, med-supp and other products.

Very few persons will be able to thrive under the new system. You owe it to yourself to focus less on Indy health and get on with different options.

DISCLAIMER: None. Ha...Take that!

 

[DiegoInsGuy]

I do plan on making medicare a major part of what I do. The individual health was going to be just a way to get into the door for the CI and other ancillary products. I was going to be going as earned on the health side.

Do you think that offering the other products would be a good way to go? As long as I include the Medicare world into what I do?

 

[taterpeeler]

I do plan on making medicare a major part of what I do. The individual health was going to be just a way to get into the door for the CI and other ancillary products. I was going to be going as earned on the health side.

Do you think that offering the other products would be a good way to go? As long as I include the Medicare world into what I do?

Only experts should be offering health insurance...if you are just using it as a trick to get in the door you are screwing over your clients... Leave the health to the experts...no noobs needed

 

[DiegoInsGuy]

And how do you become the expert...?? Your comment is ridiculous.

Obviously i'm going to be putting the clients with the best product available, and if and when I have a question on something I know how to ask questions.

My questions is whether or not people feel that this is a smart move or not, not whether you feel you are an expert and don't think anyone else should enter the business...

 

[AllenChicago]

EDDIE, you're asking for thoughts, so here are mine..

Before commiting much time, effort, money, etc., into the Health Insurance business, be it group or individual, wait and see if the Supreme Court overturns the Affordable Care Act.

If they do, then go for it. Health Insurance is a lucrative income source, especially if you include other types of insurance in the "package".

Even if the Supreme Court decides to uphold ObamaCare, all is not lost. We could end up with a Republican House and Senate. If given the madate to do so by the public they would "strangle" funding of the Affordable Care Act, essentially killing it. If Gas Prices average higher than $4.50 a gallon by late Summer, we'll also have a Republican (Romney) President come 1/1/2013. (They're $4.49 here where I live in the NW Chicago suburbs and I'm actually rooting for them to keep going up right through October.)

Those are my thoughts, Eddie. Good luck to ya!

-Allen

 

[Ann H]

Eddie, your business idea has merit. It's just that the health insurance market is quicksand right now. We're just warning you is all. None of us like to see a hard working, honest person head straight into an upside down market. I like your decision to go "as earned" rather than taking advances. I hope you consider carriers and products other than Assurity's Critical Illness and Accident plan, too. See what the experts are selling and follow that path.

But I'm still warning you that this is not the TIME to initiate your business plan. This was always a hard business for newbies to enter, and it's almost impossible right at this point in time. Your state appears to be California. The whole nation's health care system is a shifting market, but California's is earthquake zone (pun intended). Even if the Supreme Court, Congress and a Republican President overturn PPACA, California is still headed straight into its own restrictive health care reform, and it's not broker friendly. Every honest, hardworking person has more than one door of opportunity to consider. I'd suggest you consider another one at this time, and perhaps resurrect this idea at a later date.