Considering New Career in Insurance Industry, Seeking Advice

[nolabreeze]

Hello,

I recently relocated from Virginia to New Orleans. For the past two years I've worked as an account executive for a small direct marketing company, in Virginia. I'm 27, I have not commitments of any kind (i.e. kids, wife, mortgage). So, I don't have much to lose.

I have several friends that currently work in the industry. Many started underwriting and moved to producing. All work in different facets of the industry; from health and life, to property and casualty. I've spoken with them about becoming an agent. However, their advice is never concrete and many of them are far too competitive to share advice. I know, great friends right? Anyhow, I'm somewhat familiar with the industry and I have a strong desire to become a part of it.

In my search I've been contacted by two companies. One, a mortgage insurance company that seemed to be a "Do it yourself" workshop. By this I mean - you go get licensed, we'll give you our direct mail leads. The second was NYL. I've been told by a few of my friends that NYL has been known to recruit hard and turn and burn people.

Ideally, I would like to get onboard with a company that would assist me in becoming licensed. I have realistic expectations with regards to income. I'd be satisfied making around 35k-40k.

I guess what I'm seeking by starting this thread is advice on what part of the industry should I look to join? Where should I look for employment opportunities within the industry? Is it common (understandably in our current economic state) to be required to obtain a license yourself?

Any and all advice is greatly appreciated. Thanks in advance.

 

[xrac]

NYL is a good company but it will be tough since you have no natural market.

 

[nolabreeze]

NYL is a good company but it will be tough since you have no natural market.

Thanks.

Do you know anything about NAA?

 

[arnguy]

Thanks.

Do you know anything about NAA?

Just use the search function on this forum and you will get a ton of information-----mostly negative!

 

[xrac]

Thanks.

Do you know anything about NAA?

Run away fast!

 

[financemama]

With all the Baby Boomers retiring and set to retire in the coming years, retirement products are a great place to be. While getting information to people can start out difficult, annuities offer a secure retirement to many. Worth looking into~

 

[Sales71]

With all the Baby Boomers retiring and set to retire in the coming years, retirement products are a great place to be. While getting information to people can start out difficult, annuities offer a secure retirement to many. Worth looking into~

I am a big fan of fixed annuities. Indexed are good as well. Not a fan of variable annuities due to the fact of cost and charges.

The more simple the annuity the more the older folks will be comfortable buying them.

 

[The Rabbi]

I have found the Medicare market to be the easiest to get into and very lucrative because they all need a plan and they also need retirement planning if you have a head for the financial world. Helping seniors with a Medicare plan will open the door for you and you can gain access to the whole family for life ins etc.

I do recruiting and training for the Medicare market and provide a very good marketing plan. As for getting a license, that's easy to do. You just search for a school, either online or in a classroom. If you are ambitious and self motivated you may as well start out as an independent using the Medicare market as a kick off point. The money you mentioned is mediocre, not much of a goal. Better you think in terms of six figures and then learn how to do it. You are starting your own business, even if you go captive, it's not a job but self employment.

 

[rasalinas12]

I'm planning on becoming an insurance agent, too. But unlike many of you, my background is in education.

(FYI: I'm in Texas if that makes any difference)

I was teaching for 10 years when I was laid off due to "budget cuts."
I am looking to change careers and work independently. I interviewed for a couple of insurance companies but I was told by a friend to try to go independent and not work for a big company. From what I have read so far, that sounds like a good idea.

The main question I have is how do I get an underwriter company? I will be taking my P & C exam within the next couple of weeks. So what will I do after that?

I do remember a few ways of advertising from the interview/information sessions.
*Making a list of people I know that I can contact about my new "job";
*Passing out flyers or postcards to the local neighborhoods/community;
*Advertising wherever possible;
*My former colleagues and people I am meeting through my part-time job now (through the local university but still visiting schools)
*Asking schools/districts if I can present to teachers in groups;
etc.,etc.

Once I pass the test what is the next step? Is there a specific forum I can read through?

So far I have seen several that start off with questions like mine but end up with some information and some joking and lots of pages to go through.

Thank you for any information you can give me!

 

[Tony Mak]

I am interested in hearing some of that advice as well.