Starting an L&H Agency

[OregonNewbie]

Hello everyone. New guy here. My wife and I are beginning talks on starting our own L&H agency. I was an agent for Libnat several years ago but don't want to go down the captive road again. I've since married and my wife and I have began the initial stages of planning for our own agency.

How do we go about getting started (other than by obtaining our licenses)? Do we simply become licensed and start contacting carriers to appoint us? Do we need E&O for a L&H agency?

Is there a specific site that you could point me to with reliable info? Please give me all the advice you have. We need a place to start. I am no longer licensed so will need to start from scratch. It was in Alabama and we now reside in Oregon.

I currently have a full-time job so would continue to do that until we can build a book of business. My wife works from home so could really start laying a good foundation during the day while I'm working and then we could both hit it hard in the evenings.

Thanks for any info you have.

 

[The Gimp]

Reach out to Nick Perry at the Independent Life Insurance Agents Association. The number is 404-660-1020. Tell him James Roman sent you. If you need any assistance with contracting, give_ me a call at 904-624-2438.

 

[xrac]

Figure out what companies you will use and find a good IMO/FMO.

 

[OregonNewbie]

Reach out to Nick Perry at the Independent Life Insurance Agents Association. The number is 404-660-1020. Tell him James Roman sent you. If you need any assistance with contracting, give_ me a call at 904-624-2438.

Excellent. Thanks for the contact. 904....do you live in Jax?
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Figure out what companies you will use and find a good IMO/FMO.

Thanks xrac. I'm finding that it's not hard to obtain appointments (if that's the correct terminology) for l&h. However, which are the good ones? Any you guys would recommend to flock to and/or to steer clear from?

 

[The Gimp]

Excellent. Thanks for the contact. 904....do you live in Jax?
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Thanks xrac. I'm finding that it's not hard to obtain appointments (if that's the correct terminology) for l&h. However, which are the good ones? Any you guys would recommend to flock to and/or to steer clear from?

Yep. I'm in Jax. Are you looking to do Final Expense, Term or both?

 

[OregonNewbie]

Yep. I'm in Jax. Are you looking to do Final Expense, Term or both?

Hey Gimp, I'd like to do both. Let me give you a call. I saw your PM but can't yet respond.
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Let me also ask...do you guys/gals think it's even wise to go indy right off the bat? I worked briefly for Libnat but that's been years ago. I have a phone interview with MetLife later on today because I heard they pay you a salary in addition to commissions. I figure this will be a great way to get training however, what are your thoughts?

I have always personally held to the notion of why should I do something for someone else, when I could do it for myself? In other words, why would I give someone else a cut of what I do, helping to make them rich when I could do it? Does that make any sense?