Medicare insurance jobs pros and cons

[Newby]

I used to think like you about loa . I think I see you on Justin Brocks Facebook . After really looking into it more I don’t think a loa agent is bad starting out the first 1-2 years to really deal with the incredible learning curve of Medicare . Brock says he has many loa’s agents making over $200 k a yr . But I’d do an loa with a base salary of $40 k plus , commissions and free leads .Most people that come new into Medicare are going to be in the mapd mkt . I honestly think very very few people can come right into Medicare and make a living from day one . The lead costs will eat you alive as commissions from July to sept are falling .Chargebacks are also hitting you . Also if Wendy starts now she won’t get any commission from oct 1 until Jan 5 th when aep commissions are paid . That’s 3 months with zero income . Medicare is a long term game . If you bust your butt the real money is the 3 rd year in the the business and 3 rd Jan . But it sure ain’t easy money in the mapd mkt . I got 5 calls yesterday . I avg 5-7 calls a week from clients .

Yes if an agency is paying you a salary it’s fair for them to put you LOA. BUT I wouldn’t advise people to start like that. It’s a dead end. Recruiters will say anything.
Start with life sales. Then cross sell the Medicare. It’s just not that complicated. If I could learn it with no internet info at all back then, these guys today with all the free info and uplines who train can ace it easy. Just do it in a way that makes sense.

 

[Travis Price]

Yes if an agency is paying you a salary it’s fair for them to put you LOA. BUT I wouldn’t advise people to start like that. It’s a dead end. Recruiters will say anything.
Start with life sales. Then cross sell the Medicare. It’s just not that complicated. If I could learn it with no internet info at all back then, these guys today with all the free info and uplines who train can ace it easy. Just do it in a way that makes sense.

She doesn't have the money to make this a business.

 

[vic120]

She doesn't have the money to make this a business.

In addition she mentioned she has immediate needs clearly looking more for a job then ready to start a buis

 

[Newby]

That’s why I said if they are paying you a salary it’s fair. But I personally still wouldn’t do it.
If you are broke it’s not a good time to go into business for yourself. I’ve always said this. It’s what I believe. Get a salaried job doing anything. Get another job to make more money in the hours you aren’t working at your 1st job. Cut every expense that can be cut. If I ever find myself broke I’m going to be doing everything I can do to not be broke this time next year. It’s going to be an emergency situation.
If one of your salaried jobs is working for someone else’s insurance office that’s fine. But don’t think of it as your insurance business. It’s just like you are working at McDonalds. Or a shoe store. You are doing that along with other stuff until you can get unbroke.
And don’t think of someone that you are working as an LOA agent to be teaching you how to be successful in the insurance business. Their job is to keep you ignorant as long as possible.

 

[kgmom219]

Wendy....get a "real" job in the industry. You will get the training and experience, plus you need the immediate income. Its a no brainer.

After you get through AEP, you can re-evaulate where you are. This is a fabulous business, but there is a period of starvation while you build your book. That's not where you are personally right now and that's just fine. Use this time to learn the business and don't worry about what you sell right now and if you keep it later and all the other noise. Best of luck!

 

[Tscholar]

That’s why I said if they are paying you a salary it’s fair. But I personally still wouldn’t do it.
If you are broke it’s not a good time to go into business for yourself. I’ve always said this. It’s what I believe. Get a salaried job doing anything. Get another job to make more money in the hours you aren’t working at your 1st job. Cut every expense that can be cut. If I ever find myself broke I’m going to be doing everything I can do to not be broke this time next year. It’s going to be an emergency situation.
If one of your salaried jobs is working for someone else’s insurance office that’s fine. But don’t think of it as your insurance business. It’s just like you are working at McDonalds. Or a shoe store. You are doing that along with other stuff until you can get unbroke.
And don’t think of someone that you are working as an LOA agent to be teaching you how to be successful in the insurance business. Their job is to keep you ignorant as long as possible.

i would not recommend working for an insurance company if she ever intends to go into business. She may be competing against them, even if it's a life insurance company because they may do health as well. So, get a job at a company that has nothing to do with insurance.

 

[Tahoe Ray]

Grants, no... loans, maybe.

Not maybe on loans. 100% you can get one and I know several agents who have.

 

[Travis Price]

Not maybe on loans. 100% you can get one and I know several agents who have.

I wasn't entirely sure about loans, but I knee that grants were a no go.

 

[Tahoe Ray]

I wasn't entirely sure about loans, but I knee that grants were a no go.

SBA will give loans to insurance agents for a variety of things around business expansion.

So, buying a book of business, developing/buying a website, improving your infrastructure, etc are all legit.

You can't be a green agent but if you have a decent positive cash flow, the money is there.

 

[Travis Price]

SBA will give loans to insurance agents for a variety of things around business expansion.

So, buying a book of business, developing/buying a website, improving your infrastructure, etc are all legit.

You can't be a green agent but if you have a decent positive cash flow, the money is there.

I just borrow against my crypto when I need cash. It's interest only and the rate is really low. When the asset appreciates I can just refinance and get part of my collateral back... I add a little bit more when I get marginal, but I keep the LTV at like 25% because I get a lower interest rate.