Starting Out to Sell Insurance ...

[Zac]

Hello Everybody:

This is my first post here and I'd really appreciate if somebody could give me some advice considering my situation.

I am an engineer by profession from the NY Metro area trying to get myself into the Insurance business as I always wanted to start my own business.
My plan now is to continue working full time at my job and start working as an Independent Insurance agent part-time until I feel comfortable thereby reducing my regular work hours and slowly moving towards being a full-time independent agent. I know as a newbie starting out with little experience in marketing, not to expect any substantial earning potential but will be more than happy if I be able to at least show a marginal profit from the business during the next tax year. That being said let me get to the real questions.

1) Considering my situation which type of insurance licensing should I pursue that would make some sense with regards to compensation and volume of business ( I am in the process of getting my 'Life & Health' license just because at the time I didn't know there were multiple type of licenses needed to practice in all diff. fields)

2)I now know that it takes a good amount of training to be a successful in the field so as a newbie trying to be independent, do I have a chance of getting such training or should I have to learn everything the hard way

3) Will it be beneficial for me to join any of the 'Smart choice, Hartford, Eric, Hybrid, big I) groups or is there another better way?

4) How would i be able to get a contract from most of the A- rated companies to sell their policies.. Is there a procedure..

I've been reading lot of great responses on this forum and I appreciate those who spend their valuable time trying to help, support and encourage those who need help and advice.

Best regards,

Zac.

 

[arnguy]

Welcome aboard. I believe you will find this forum a good resource for information.

 

[Zac]

Thank you arnguy ..

 

[Josh]

This really isn't a part time business. What has you interested in becoming a part of it?

 

[Zac]

This really isn't a part time business. What has you interested in becoming a part of it?

The beauty of being your own boss.. atleast to some extend ..

I know it isn't a part-time business instead needs full or more than full time commitment to be successful but unfortunately I am not in a position right now to to make such a commitment, that's the reason I am starting part-time.

 

[Josh]

The beauty of being your own boss.. atleast to some extend ..

I know it isn't a part-time business instead needs full or more than full time commitment to be successful but unfortunately I am not in a position right now to to make such a commitment, that's the reason I am starting part-time.

If you can't do it fulltime now then you may very well want to wait until you can. A solid 90% of agents fail out of the industry within their first year. Working a full-time job while you're starting will only slow you down and may very well torpedo your chances of being successful.

 

[briangruss]

I started doing insurance part time, and without reading this forum. If I had to do it all over again, I wouldn't start part time, but what I would do would be to study insurance (not just for the license). Do that while working full time, save up enough money to not have income for a couple months and then take the leap.

 

[atlantainsguy]

Personally, I don't see anything wrong with starting out part-time. Your regular income will alleviate all the financial pressure you'd feel if you immediately went full-time.

But, Zac -- please don't say you're "starting out to sell insurance". Instead, help people buy insurance. Otherwise, you will be just another peddler among many.

Read some of the posts from the more experienced agents who deal with facts rather than opinions. I think you'll see that they all pretty much say the same thing -- learn the concepts and products inside and out. Focus on the benefits to your customers, not on the product features. Be consultative in your approach. Find a good mentor who'se willing to help you during what will probably be a two to three-year learning curve.

Fortunately, your will have your regular income as an engineer to pay your bills while you "pay your dues".

atlantainsguy

 

[Zac]

Thank you all for your valuable comments

Sorry I started out 'Selling Insurance' but now I know better not to reading a lot of posts from this forum and now I am in the process of helping people buy insurance.

Also I'll be looking for a Mentor/GA who's willing to provide ample training and support.

Best Regards

 

[abahsmith]

Thank you friend. I wish you huge success in all your undertakings.