By reading HealthAgent's very helpful piece, I just had a question for clarification. If I join a company like TRITUS, would I still be considered an Independent Agent? And I can still target some of the carriers you just mentioned while being with TRITUS?
First of all let me say that in my opinion this is the best resource for insurance information on the web. I have been licensed since 2004 to sell P&C, L&H and Surety in Nevada but I've been working for an agency that only sells home and auto. I'm looking to start my own life and health agency on the side and have a few questions:
1. If a company is willing to appoint me either as a individual or as an agency should I just save the money that I would spend on the LLC, Agency License, etc.. and let them appoint me as an individual independent contractor? Would I still need e&o?
2. Napa seems to have the best prices for E&O insurance here in Nevada are there any other suggestions?
3. Is 1m/1m an acceptable limit of e&o? I realize that this is a loaded question but just for the hell of it I'm asking.
4. If a company is B++ would you feel comfortable selling the product if their customer satisfaction is good?
After initiating a career change into Health and Life Insurance, as captive agent in both cases (2 seperate companies) and basically failing miserably within these companies structure, I have to wonder if there is a reasonable way to make an "honest" living in this business.
I worked hard for the licensing, but it has afforded next to no way to survive with my prior affiliations.
I have seen the NEED for Health Insurance, and feel that that, is half the battle. (No - don't mean supplemental - I can't tell you how many businesses or persons approached would say,.."Is this health insurance?" and how old the coached, canned response of ..."well yes,....but not as you know it..." became.)
Obviously, this could go on for a long time, so I'll abbreviate.
I consider myself to be perhaps slightly above average in general intelligence. All I'm looking for is a legitimate, honest alliance, with an angency or company(ies) that, with an honest weeks' work, will permit me to earn approx. $50K year, within the first year, or shortly thereafter.
I'm looking for "some" structure and support, but want to work from an in home office environment, and utilize technology (not endless driving at $3.25/gal. - and all the ducks in the world won't propell your car) to sell efficiently.
I am licensed currently, in PA and MD, in Health and Life, and have been trying to navigate this maze of possible opportunities for awhile now.
Any feedback appreciated.
That damn duck never offered anything but pavement pounding (thanks I passed too)
You can make good money in the business if you just get methodical about it. Have a set time for calls and make them. Make appointments. See the people. If its health insurance and they see you, then they generally have an interest level. I would not go captive as you need, especially as a newer person, to have an easier sell and if you can sell a rate on a good plan, then you should do fine. You can run life leads too and have a nice stream of income, especially with UL, or WL, you need to write this business often while in the home. Term is a good product to build up and an easy sell, if you have the rates.
It takes time to build a book of business though if you work hard and consistently you could be making a living by the end of 6-8 weeks. Remember the Edisons of the world had to go through much tribulation before they tasted success. Research the archives of this sight relentlessly too (as I am)!
All the rhetoric for new agents can be overwhelming. I, like many, started with UICI/MEGA/What's their name this week company. You learn some gritty stuff that's not necessarily bad. You get comfortable in front of people and on the phone. It's a stepping stone that has helped out a lot of us considerably.
Going Ind from the start is 5th gear, when we should be in 1st. Join the assn with the Maryland guy or not, it's just not like being a part of the mickey mouse club like over @ Mega.
You can't learn what is most important from a damn webinar or some egomaniac telling you what to do. You just have to do it. Sign up at Mega learn what you can, forget the negative unethical stuff. Sell a few plans then bolt. While you plan to bolt, refer to this site and get all the info you can. Then, feed yourself to the wolves....it's the best way. Then cold call, buy some leads, walk and talk, hang out at the mall, go to the flea market, whatever.
------------------------------------
Michael R. Hrad
Principal Managing Partner
Insurance Benefits Group
Health Insurance Professionals LLC
So learning the wrong way to sell health insurance is the right way to start? Ummmmm, ok. If this board had been around in '03 I would never have shown up for training.
------------------------------------ Health Insurance Agents: Training, Support, Discounts, E&O for $440 www.ihiaa.com
All the rhetoric for new agents can be overwhelming. I, like many, started with UICI/MEGA/What's their name this week company. You learn some gritty stuff that's not necessarily bad. You get comfortable in front of people and on the phone. It's a stepping stone that has helped out a lot of us considerably.
Going Ind from the start is 5th gear, when we should be in 1st. Join the assn with the Maryland guy or not, it's just not like being a part of the mickey mouse club like over @ Mega.
You can't learn what is most important from a damn webinar or some egomaniac telling you what to do. You just have to do it. Sign up at Mega learn what you can, forget the negative unethical stuff. Sell a few plans then bolt. While you plan to bolt, refer to this site and get all the info you can. Then, feed yourself to the wolves....it's the best way. Then cold call, buy some leads, walk and talk, hang out at the mall, go to the flea market, whatever.
Oh, man. I'm sorry but telling someone to start with MEGA to get experience is bad advice, unless you don't give a rip about other people or for that matter your own family!!! And if that's the case then you might as well start and stay there.
Ok, don't sell a SINGLE POLICY @ MEGA. Hang out, go on appointments, and watch the scumbags at work. Just LEARN how to sell...LEARN how to ASSUME THE SALE. How do think Mr. Maryland IHIAAIIA does well? He's a former car salesman. He learned his skills from others in an IN PERSON selling environment. He got training at the lot. He got ups. More seasoned salesman took his ups and/or closed his ups. He learned how to bob and weave. Then he got rolling. Then he went to Mega to watch them work and learned from them. Now he's here TELLING you how to do it. You can't be told how to do it. You need a lead to show you how...in person.
Get out and sell the right products is my point. This is where the fundamentals are learned. If you think you can read this board and join the IHIAIIIAII and rock out, you are sadly mistaken. Take your $19.95 per month and buy a case of beer and some rubbers.
Why are we agent/brokers anyway?? To have an ego trip or to get paid???
NEW AGENTS - don't start as an INDEPENDENT- YOU WILL FAIL! Start with an Field Marketing Organization, be captive, whatever. Just learn the fundamentals from these guys, get the confidence, then go get your contracts on your own. F'em, walk away.
Ok, don't sell a SINGLE POLICY @ MEGA. Hang out, go on appointments, and watch the scumbags at work. Just LEARN how to sell...LEARN how to ASSUME THE SALE. How do think Mr. Maryland IHIAAIIA does well? He's a former car salesman. He learned his skills from others in an IN PERSON selling environment. He got training at the lot. He got ups. More seasoned salesman took his ups and/or closed his ups. He learned how to bob and weave. Then he got rolling. Then he went to Mega to watch them work and learned from them. Now he's here TELLING you how to do it. You can't be told how to do it. You need a lead to show you how...in person.
Get out and sell the right products is my point. This is where the fundamentals are learned. If you think you can read this board and join the IHIAIIIAII and rock out, you are sadly mistaken. Take your $19.95 per month and buy a case of beer and some rubbers.
Why are we agent/brokers anyway?? To have an ego trip or to get paid???
NEW AGENTS - don't start as an INDEPENDENT- YOU WILL FAIL! Start with an Field Marketing Organization, be captive, whatever. Just learn the fundamentals from these guys, get the confidence, then go get your contracts on your own. F'em, walk away.
This may vary from state-to-state, but at least in CA every domestic carrier has a person who is available for agents to go on sales calls and teach them how to sell the plans. General term is RSM (Regional Sales Manager). For group, a good FMO/GA can be very helpful as they will provide that for a new agent (they will go out with you and sell the case or you can use the RSM for a single carrier sale, your choice). For IFP business, since there is no FMO/GA override, use the RSM to learn the ropes.
All of the webinar information for CA agents is already available directly fro the carriers both online and monthly meetings that each carrier holds locally.
The IHIA may be of value as well. However, I would not use that in lieu of local support that is available for free.
All you have to do is call them and tell them you need them to come out on appointments with you and teach you how to sell their product. That's what they get paid to do and the more you sell, the better they get paid (and no, it's not from you commissions).
Re: Becoming a health insurance agent
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