http://www.insurance-forums.net/forum » Are you looking to get started selling insurance or related products?» Do you want to advise new agents on pitfalls that you faced?» Post your questions and discussions here. en Fri, 20 Nov 2009 21:59:32 GMT vBulletin 120 http://www.insurance-forums.net/forum/images/misc/rss.jpg http://www.insurance-forums.net/forum http://www.insurance-forums.net/forum/new-sales-new-insurance-help-please-thread16350.html Fri, 20 Nov 2009 21:19:37 GMT Hello All, I really appreciate you opening my... Hello All,

I really appreciate you opening my topic and am asking you for some support. Here is a brief background:

I am new to sales and have absolutely no background in either sales or insurance. I have been with a company for about a year now and it has been a rough start. I work off commission only and was not able to motivate myself for the first couple of months. I was still unsure if Insurance was for me and was in the face of the fear of rejection. Months later and I have now been humbled and can acknowledge that rejection is not that scary and motivates me to keep going.
However, I am struggling with an area in sales and can see that I'm not sure what the answer is at this point. The problem lies in the closing of sales. I have had cases were a prospect mentions that although we are able to save them money, they are not interested to switch at the time due to "loyalty to their company, being that they have been with them for such a long time." At that point I think to myself, "Great, they are showing loyalty an that's the type of clients I want to serve, on to the next." This seems to work for my state of mind, but I can tell my agent gets frustrated with this. I don't believe that there is a lack of people that need insurance so I just choose to move on. A lot of you have been in this business for awhile, and a lot of you are agents who possibly have producers in the same situation. I am open to change my point of view if I feel it will benefit the prospect and myself, but not sure what my options are in this situation. Feedback and advice please. Thank You ]]> Getting Started Selling Insurance NewProducer http://www.insurance-forums.net/forum/new-sales-new-insurance-help-please-thread16350.html http://www.insurance-forums.net/forum/independent-captive-agency-si-ny-thread16343.html Fri, 20 Nov 2009 18:21:51 GMT I am looking to buying a book of business not... I am looking to buying a book of business not sure if I can find an Independent book for sale, but there are plenty of Allstate books for sale the only problem is the multiples they are looking for are a bit hefty 2.75/3 times. I am looking to do P&C Life & Health I am licensed in all lines of business. I am looking for guidance in the right direction. My background is an Investment Consultant at a bank for 5 years, just got tired of starting from Zero every month and would rather run my own business. My wife is no longer working, we recently had an addition to our family so now we are 5. any guidance is highly appreciated!
Btw a few of my friends purchased Allstate Books so I have some pretty good inside info on that, just would like to explore other options! I have checked out State Farm ]]> Getting Started Selling Insurance VBins http://www.insurance-forums.net/forum/independent-captive-agency-si-ny-thread16343.html http://www.insurance-forums.net/forum/i-thought-going-indy-going-easier-thread16338.html Fri, 20 Nov 2009 16:50:50 GMT I have been I guess you can call a "broker" with great American for a year now and I decided that I wanted to go completely indy. I talked to Frank and it seems the one problem is it might be hard to get "released" from my appointments with the current carriers I have. I spoke to my manager and he said they would not hold my contracts and if I left and I should be cleared in a few weeks.

Sounds good, maybe not? Some companies like MoO are going to not let me write business for 6 months after being released from my original GA. And, MoO has excellent rates for Med supps in FL. I have no idea what AARP's med supp policy is on this and I really need them here too in FL.

My next problem is trying to find out where to get appointed with all these companies at. Frank can help me out with a few but I need to find out about FE, annuities, LTCi, annuities and individual health. I looked at Health choice one for the health side but I need better options for FE. Right now I use great american and Royal neighbors but I might have to wait to sell those again too! I'm not even sure.....all I know this is a more of a pain in the ass then I thought it would be. :1mad: ]]> Getting Started Selling Insurance Chazm http://www.insurance-forums.net/forum/i-thought-going-indy-going-easier-thread16338.html http://www.insurance-forums.net/forum/looking-go-independent-captive-ny-thread16337.html Fri, 20 Nov 2009 16:46:31 GMT Hi, I have looked at a couple of Allstate book of... Hi, I have looked at a couple of Allstate book of business but the multiples they want are ridiculous and with the status of their business in NY it's not worth it. I am wondering if I can buy an existing Independent book of business in NY can someone guide me in the right direction? or maybe even start an Independent agency myself it's just the things I have read don't look that great for the first year or 2.

PS I am in Staten Island NY and wouldn't mind doing business in Brooklyn either. ]]> Getting Started Selling Insurance VBins http://www.insurance-forums.net/forum/looking-go-independent-captive-ny-thread16337.html http://www.insurance-forums.net/forum/what-interview-questions-should-i-ask-thread16326.html Fri, 20 Nov 2009 05:29:52 GMT If I'm looking for a career in insurance sales then what interview questions should I ask at places like NYL, Farmers, etc? ]]> Getting Started Selling Insurance mszlazak http://www.insurance-forums.net/forum/what-interview-questions-should-i-ask-thread16326.html http://www.insurance-forums.net/forum/sole-pro-llc-thread16322.html Thu, 19 Nov 2009 23:22:18 GMT For the independents out there - are you setting... For the independents out there - are you setting yourself up as an LLC or just as a sole proprietor? ]]> Getting Started Selling Insurance GAHEALTH http://www.insurance-forums.net/forum/sole-pro-llc-thread16322.html http://www.insurance-forums.net/forum/final-expense-newbie-thread16314.html Thu, 19 Nov 2009 19:59:49 GMT Hello everyone,
I'd like to apologize in advance for my ignorance on a lot of this stuff, but I'd really appreciate some feedback. I owned my own P&C insurance agency a few years ago and was very successful, I sold it to be a stay at home mom (husband has a great career). Now that my little guy is a little older, I like to get back into insurance sales, but I'd like to be able to do it from home.

My father in law is just getting started (hasn't received leads yet) with the Final Expense Telesales (or Roberts Marketing Grp) and he's really excited about it. I started doing some research on the web and this site, and learned about similar companies, such as Equita.

I was wondering if you could give me some feedback as far as:
-What other companies besides these provide leads, and how do they differ in contract and price?
-I know from my father in law that final expense telesales (or roberts marketing group) requires you to buy a certain amount of leads each month, do all the groups do this?
-How difficult is it to get appts. from all the life companies? (I have my licenses of course, but I was an exclusive agent and didn't need to get appt with multiple carriers).
-Has anyone worked with these companies or ones similar, and what was your experience?


Again, I really appreciate the feedback!

Michelle ]]> Getting Started Selling Insurance mcoll http://www.insurance-forums.net/forum/final-expense-newbie-thread16314.html http://www.insurance-forums.net/forum/telemarketed-leads-thread16301.html Thu, 19 Nov 2009 16:33:29 GMT Can you post your website and tell us... Can you post your website and tell us specifically how you generate leads? ]]> Getting Started Selling Insurance CHUMPS FROM OXFORD http://www.insurance-forums.net/forum/telemarketed-leads-thread16301.html http://www.insurance-forums.net/forum/general-agent-managing-general-agent-whats-definition-who-good-one-thread16294.html Thu, 19 Nov 2009 12:33:01 GMT Just getting started in the southern KY area. ... Just getting started in the southern KY area. I've heard all this chatter on here about GAs and MGAs. Someone tell me the exact defiinition of each, ( just want to make sure I've got it right ) and PLEASE recommend good ones to go for. Also please define pros and cons of joining up, or going it alone. I'm new to this, but vast experience in sales. After reading this forum for days - I'm not sure the sales experience matters.

Ps - I have thouroughly enjoyed this forum, and cutos to the developer!

Sokybrian
Brian Mulloy
270-535-4349
New Health and Life ]]> Getting Started Selling Insurance sokybrian http://www.insurance-forums.net/forum/general-agent-managing-general-agent-whats-definition-who-good-one-thread16294.html http://www.insurance-forums.net/forum/real-income-newbies-thread16288.html Thu, 19 Nov 2009 04:18:31 GMT OK... Lets start a fun thread. I know that ALOT... OK... Lets start a fun thread.

I know that ALOT of you guys won't post your incomes, so lets do this.

Post the TOP Agent that you know... NOT NAME just true annual income. ALSO, lets keep it on personal production, not a office or agency owner with tons of agents.

The point is to show us newbies that it is possible to make a GOOD living in this......


I'll go first, The top agent I know is a life agent of ten years and should make about $145,000 (already $120,000 with NOV and DEC Checks to come) this year as a CAPTIVE AGENT! ]]> Getting Started Selling Insurance Rebel-without-a-clue http://www.insurance-forums.net/forum/real-income-newbies-thread16288.html http://www.insurance-forums.net/forum/why-does-everyone-want-sell-life-over-phone-thread16284.html Thu, 19 Nov 2009 00:17:22 GMT It seems like there is a new post every day about... It seems like there is a new post every day about someone new coming into the health or life industry that wants to sell completely by phone. Personally, I would rather go shop at a department store (my worst nightmare) than call internet leads all day trying to sell life insurance.

For health, I see how the model works. Even though it sounds aweful to me, I get it. If you want to cross sell some life to your health leads, all the better. The key to why I believe it works for the health business: perceived as a necessary product (yes, I know that's not across the board), but most importantly, renewals.

For life, there are virtually no renewals. That seems like a hard way to make a living, always searching for your next sale. I suppose with volume it could work, but it seems like building a local clientele would be much more profitable in the long run. Working internet leads for life coverage, I see many disadvantages:

-you are dealing with price shoppers that are seeing super preferred rates from other agents even though they will never qualify

-good luck cross selling disability or opening up voluntary benefit cases off an internet lead with any consistency.

- I would guess selling the proper death benefit amount when competing with other agents would be much more difficult as you aren't viewed as a professional, rather a vendor. You will therefore be selling lower premiums, not even taking into account fewer permanent sales.

-term conversions would have to be near zero, I highly doubt many phone sale agents are converting much coverage, this is essentially the "renewals" in term insurance.

-getting consitent quality introductions to others would have to be much more difficult as well given you are more of a vendor than viewed as a professional.

Everyone will shout at me, "but you save time not having to drive, you can talk to more people." In the short run, I bet you could make as much money (maybe even more) selling over the phone, but I guarantee any half serious traditional life insurance agent would lap that phone agents sales by a huge margin in years 3+.

My point, besides selling life by phone sounding like a miserable way to make a living to me, I don't think most people inquiring about selling life by phone understand this isn't a panacea in which you sit in your PJ's a make an enormous amount of money. If you have a personality, you become a student of the game, you use a "high touch" approach, this business can be very fun and rewarding (both financially and emotionally).

Anyone that's new and considering phone sales, make sure you at least look at both ways of doing business. ]]> Getting Started Selling Insurance Full Throttle http://www.insurance-forums.net/forum/why-does-everyone-want-sell-life-over-phone-thread16284.html http://www.insurance-forums.net/forum/selling-cars-selling-insurance-thread16276.html Wed, 18 Nov 2009 18:40:22 GMT I'm fresh out of the car business where I was pretty successful over the long haul. I am newly life/health licensed and am looking to start in the next month or so with some company (yet to decide which company).

What tips could you offer for making that transition? What's the same? What's different? What skills/techniques will transfer?

I know you can't resist so I'll give some starters:

* Stop lying
* Don't wear plaid (I don't... I promise)
* Don't spit/cuss/drink/flirt with customers. ]]> Getting Started Selling Insurance bassplayer http://www.insurance-forums.net/forum/selling-cars-selling-insurance-thread16276.html http://www.insurance-forums.net/forum/11-951-fresh-leads-leadsclearance-com-past-24-hours-thread16267.html Wed, 18 Nov 2009 16:32:56 GMT What a flaming pile of Poo. 11,951 - nice odd... What a flaming pile of Poo.

11,951 - nice odd number - that must make it true sense I
Got this email saying so.

Does anyone fall this DUNG ?

11,951 in last 24 hours huh - damn what marketing method
Do they use and how come no one else produces these results ?

These people are a burlap sack of crap. End of story.
:twitchy:
]]> Getting Started Selling Insurance tex http://www.insurance-forums.net/forum/11-951-fresh-leads-leadsclearance-com-past-24-hours-thread16267.html http://www.insurance-forums.net/forum/currently-lah-6-63-looking-go-indy-add-p-c-good-idea-thread16266.html Wed, 18 Nov 2009 15:41:37 GMT I have been reading on this site for almost a... I have been reading on this site for almost a year. I have received a lot of information. I'm looking for you suggestions.

I have 7 years selling/management with a captive LAH 6/63 (mostly life an annuities)

My partner has 3 years with same company. We have a noncompete, so we are leaving all clients. We are thinking of starting our own indepenedent.

I am a good networker. He is a good cold caller/door knocker. I would market LAH 6/63 he woudl handle the p/c and we would cross sell. We can each live off net income of 35K each. We have about 10,000 we could invest total.

We would work out of our homes and do it all through networking and cold calling. Any comments? My wife is freaking out scred that I'm talking about doing this. ]]> Getting Started Selling Insurance jwright29 http://www.insurance-forums.net/forum/currently-lah-6-63-looking-go-indy-add-p-c-good-idea-thread16266.html http://www.insurance-forums.net/forum/if-you-could-start-all-over-again-thread16247.html Tue, 17 Nov 2009 21:11:13 GMT Hello, and thanks for reading this and possibly... Hello, and thanks for reading this and possibly helping me make a decision. I am in my 50's with a successful period in sales behind me (IT systems and services, and real estate). I am interested in getting into the L&H sector of this industry. It seems everyone I am talking to will give me a shot. New York Life, Northwestern Mutual, American General, and just about every other office I talk to. Yes, I am doing my homework. One thing I have gotten from this board which I believe to be true is that the office manager has more to do with the agent's success than anything else. And guess what? I have NO PROBLEM contacting everyone I know and talking to them about what is best for them! :) Once I figure that out of course. :)
If you had to start all over again, knowing what you know now, what company would you go with and why?
I appreciate your time.
Thanks,
Newbie Dennis in SE PA

PS This place is GREAT!!!! ]]> Getting Started Selling Insurance darner123 http://www.insurance-forums.net/forum/if-you-could-start-all-over-again-thread16247.html http://www.insurance-forums.net/forum/ad-yellow-pages-thread16238.html Tue, 17 Nov 2009 14:21:27 GMT Does anyone still put an ad in the yellow pages... Does anyone still put an ad in the yellow pages and what kind of results do you get from it? ]]> Getting Started Selling Insurance Markingriffin http://www.insurance-forums.net/forum/ad-yellow-pages-thread16238.html http://www.insurance-forums.net/forum/need-help-understanding-how-wholesalers-work-texas-thread16234.html Tue, 17 Nov 2009 03:01:02 GMT I have searched for this so if it has been posted... I have searched for this so if it has been posted please forgive me. I am a newly licensed agent in Texas. I am currently appointed with Farmers, but decided to go independent. How do appointments work when working with a wholesaler (superior access, insurancenoodle, etc.). I understand they are not direct appointments, but is there any paperwork I need to file with the department of insurance showing that I am working with them? Superior Access told me to talk to TDI. So I emailed TDI and they were not really helpful. Hoping that someone here can give me a straight forward answer. I just want to make sure all my ducks are in a row. Thanks in advance! ]]> Getting Started Selling Insurance jlaggie http://www.insurance-forums.net/forum/need-help-understanding-how-wholesalers-work-texas-thread16234.html http://www.insurance-forums.net/forum/help-looking-get-training-sell-l-h-over-phone-thread16232.html Tue, 17 Nov 2009 02:27:42 GMT I've been trying to research and get all the information I need to be able to sell Life and Health products over the phone. Here's my story. I quit my salaried position because I wanted to get into this industry over a month ago. I'm thinking this was the biggest mistake I have ever made! I took the test and got licensed in Life, Accident & Health. I wanted to hit the ground running, but it looks like that has already came and passed.
I sold P&C insurance for a major corporation in 46 states before moving to Denver, and was very successful doing so. I signed up through a company to sell multiple products. I am sure I can get a full release, as I asked for that before I started and was told that would not be any problem. I didn't receive any training pertinent to someone starting new in this industry. I just sat at home and didn't have anything to do. The promises of the best commissions, free leads, and the best training all went by the wayside...as in, NONE of that happened. I mean at least some training would be beneficial, especially for someone in my position. More of the same from the second company I contacted. They did not have the time to train someone new.
I have been in touch with a third carrier, and the guy (my would be manager??) said that webconferencing would probably be my best bet and they have agents apparently who do that. The pros would be that I could work from home, and instead of wasting time driving around, I would be able to reach more people, across state lines as well. So far, I am having trouble ever reaching my guy, getting return calls, etc...I still have received virtually zero training except for sitting in on a webconference meeting. I have not signed any contracts with them yet. In my research, I have also seen that selling over the phone can be very successful, especially selling Life products such as Final Expense. In the meantime, I have been wasting my time sitting around the house. It sounds like this current company mostly focuses on Health and I am not sure they really have anyone who does Final Expense, etc, regularly.
I apologize for the long post, but I am in desperation mode, and have to make this work! I can see how it woud work, but I just need the guidance and training in addition to make it work. Does anybody have any suggestions on companies to contract with that will provide training and also how to approach this? I appreciate in advance any advice I can get regarding this matter. Thank you. ]]> Getting Started Selling Insurance HawkeyeJ http://www.insurance-forums.net/forum/help-looking-get-training-sell-l-h-over-phone-thread16232.html http://www.insurance-forums.net/forum/help-getting-started-educated-business-thread16182.html Sat, 14 Nov 2009 01:09:35 GMT This seems like an amazing board so I registered.... This seems like an amazing board so I registered. I have a few questions about selling insurance.

1. How much can I expect to make? I really need a job and this seems like a great way to make money, especially when i think i am a fairly good salesmen.

2. I had an interview with pmaUSA(conseco) and they said id work 4 days a week and stay in hotels and stuff. Is that company a scam? Id like to work 5 days a week but not be on the road 24/7. which company could offer that?

3. Is there really true residual income? When you sell a policy do you only get paid that once?

4. Other than an insurance license what else will be needed to start selling insurance...I'm broke right now.

5. If you have a couple of bad weeks, will you not be paid anything?

6. Anything else you can tell a newbie like me, I'm all ears. I'm located in Illinois. That might be important when talking about good companies to work for. ]]> Getting Started Selling Insurance aspiringagent62801 http://www.insurance-forums.net/forum/help-getting-started-educated-business-thread16182.html http://www.insurance-forums.net/forum/setting-up-home-office-thread16179.html Fri, 13 Nov 2009 22:06:26 GMT Might be a little off topic, but.....For those... Might be a little off topic, but.....For those that have home offices - what are you doing for business phone service? Vonage small business? What about fax line/800#? If you are using an IP phone vs. dedicated land lines - how is it working for you? I don't want to spend a ton of money on phone service, but want to be found in the yellow page/white page directory listings and am not sure it can be done with a Vonage type of phone service.

Comments? ]]> Getting Started Selling Insurance GAHEALTH http://www.insurance-forums.net/forum/setting-up-home-office-thread16179.html http://www.insurance-forums.net/forum/insurance-quoting-agency-management-program-thread16159.html Fri, 13 Nov 2009 14:46:39 GMT I will be opening up an Independent agency in 3-4... I will be opening up an Independent agency in 3-4 months. I’m curious what other indy agencies are using as far as quoting programs and agency management software?

My focus will be personal and commercial P & C. If you could give pros and cons from your experience with the programs, that would be much appreciated!! ]]> Getting Started Selling Insurance redgo http://www.insurance-forums.net/forum/insurance-quoting-agency-management-program-thread16159.html http://www.insurance-forums.net/forum/search-help-direction-thread16126.html Wed, 11 Nov 2009 20:54:29 GMT I have successfully passed testing and am... I have successfully passed testing and am awaiting the delivery of my Life and Health licenses in the state of North Carolina. Now What?

I had originally planned to work with NAA but now have chosen NOT to do that. I'd prefer not to rehash the whys and why nots so please refrain from starting that conversation.

So now what? How do I secure appointments with companies to sell Life and/or Health insurance? Any help is appreciated and accepted.

Thanks in advance.

Stephanie ]]> Getting Started Selling Insurance SBinNC http://www.insurance-forums.net/forum/search-help-direction-thread16126.html http://www.insurance-forums.net/forum/establishing-business-plan-thread16109.html Wed, 11 Nov 2009 10:42:05 GMT Hello, I'm beginning the process of starting a startup agency, and i need to establish a business plan. If anyone has any tips on specific software, or if anyone has a great deal of knowledge or experience with business plans please lend me a hand...thank you ]]> Getting Started Selling Insurance danberryinsurance http://www.insurance-forums.net/forum/establishing-business-plan-thread16109.html http://www.insurance-forums.net/forum/just-layed-off-today-ready-strike-out-my-own-thread16100.html Wed, 11 Nov 2009 01:51:52 GMT I'm one of 94 laid off this morning from a national health insurance carrier. I'd only been in the business for just over a year (in sales in other industries previous), but I really took to it, and think its something I could not only enjoy, but excel at. I'm weighing all of my options at this point. Going out on my own, seeking a similar position with another carrier, an established brokerage, or opening a hot dog stand with the perfect chilli-coleslaw balance.

I know its a tough, long build to being self-sufficient if I decided to strike out on my own, but with an honest assesment of my personality and skills, I think it may be the best move. Any advice on getting started? Why I should rethink this decision, or why I'm a total moron? As rough as the economy is, it seems like a good time for fresh blood with fresh ideas and enthusiasm. But am I deluding myself?

Be helpful and brutally honest please. ]]> Getting Started Selling Insurance Joshua77 http://www.insurance-forums.net/forum/just-layed-off-today-ready-strike-out-my-own-thread16100.html http://www.insurance-forums.net/forum/independent-agent-considering-checking-out-opportunities-thread16099.html Wed, 11 Nov 2009 01:38:38 GMT I am an independent agent in Ohio. I currently... I am an independent agent in Ohio. I currently work part-time due to the fact my day job pays my bills. I got my license one year ago. Life sales have been ok but healthcare as been not been so hot.

I am thinking about looking for a company to actually work for. any suggestions?

Thanks! ]]> Getting Started Selling Insurance LGinOhio http://www.insurance-forums.net/forum/independent-agent-considering-checking-out-opportunities-thread16099.html http://www.insurance-forums.net/forum/p-c-agent-prospecting-mortgage-lenders-thread16092.html Wed, 11 Nov 2009 00:43:40 GMT I am a new agent trying to gain some traction.... I am a new agent trying to gain some traction. Obviously the best way to build a book is by referrals. I am wanting to prospect to the local mortgage lenders in my area to try and earn some homeowners business and then cross sell auto. My company has about the best rates in town, but unfortunately we don't advertise. Therefore I made up a flyer and was going to go around passing it out. My question is, has anyone done this before and are they very receptive to it? Im guessing they like the agents better who cater in lunch for everyone but I can't quite swing that right now. ]]> Getting Started Selling Insurance cjones http://www.insurance-forums.net/forum/p-c-agent-prospecting-mortgage-lenders-thread16092.html