Getting Started in the Insurance industry

moonlightandmargaritas · 11-18-2008, 09:39 PM

You'll have to retake the exam for Florida.

SCLady · 11-19-2008, 07:05 PM

Originally Posted by moonlightandmargaritas

You'll have to retake the exam for Florida.

Per the FL Dept. of Insurance, a letter of clearance from home state and application for FL license within 90 days of becoming a resident qualify for an exemption.

I'm not allowed to post the link, but here is the info:
Exemptions for State Examination

<LI class=MsoNormal>
A letter of clearance indicating the licensee held a property and casualty license for at least one (1) year in his/her home state and applying for a license within 90 days of becoming a resident of the State of Florida; or
An original letter from the American Institute for Property and Liability Underwriters certifying the licensee was awarded the Chartered Property and Casualty Underwriters (CPCU) designation and has been engaged in business the last 4 years.

*****
Edited to apologize. I missed it where he stated that he is GETTING his license and doesn't already have it. My bad.

MikeLevy · 11-20-2008, 12:31 AM

This is a little different from insurance, but have you considered going the stock brokerage/financial planning route? You have a financial background and you had your own office. Edward Jones sets up people in one man offices all around the country. They have good training, a starting salary, and they sell independant life insurance and annuity products. You will get all of your insurance licenses. This would allow you to use your prior financial and management skills and having run your own office you would be an attractive candidate.

rc2391 · 11-20-2008, 10:47 PM

Hi Everyone,

I am new to this forum. I was hoping I can get advice on becoming a new insurance agent. Currently I am working for State Farm as a sales associate. I have been there almost two years. Total I have years experience in the insurance business.

I have spoken to the Agent about my goal of becoming an insurance agent and he is willing to help me attain this goal. I have been approached by Farmer's insurance to become an agent. I know theres pro's and con's with any insurance company but I am looking for advice which way to go.

I know with state farm is a long process to get an agency whereas with Farmer's as soon as you get approved you are an agent but have to start scratch. I just don't know which way to go. I appreciate any feedback.

Thanks,

RC

moonlightandmargaritas · 11-20-2008, 10:53 PM

Originally Posted by rc2391

Currently I am working for State Farm as a sales associate.

Welcome to the Forum RC, there's a wealth of info on here.

Are you working for State Farm, or are you working for a State Farm Agent?

rc2391 · 11-20-2008, 10:58 PM

Thanks!! I am working for a State Farm Agent.

xrac · 11-21-2008, 07:54 AM

Originally Posted by rc2391

Hi Everyone,

I am new to this forum. I was hoping I can get advice on becoming a new insurance agent. Currently I am working for State Farm as a sales associate. I have been there almost two years. Total I have years experience in the insurance business.

I have spoken to the Agent about my goal of becoming an insurance agent and he is willing to help me attain this goal. I have been approached by Farmer's insurance to become an agent. I know theres pro's and con's with any insurance company but I am looking for advice which way to go.

I know with state farm is a long process to get an agency whereas with Farmer's as soon as you get approved you are an agent but have to start scratch. I just don't know which way to go. I appreciate any feedback.

Thanks,

RC

You alone can find the right answer to this question but here are some thoughts or suggestions:

1)Read all of the following thread Insurance Agent Forum about State Farm. Based upon what I am reading there I wouldn't be eager to joing State Farm.
2)I have met very few people who wound up believing that Farmers was a great gig. Farmers seems to always be hiring.
3)I would look a around and see if there are any other opportunities that might make sense in my market: American Family, Allstate, Metlife, and Indy etc.

madsil · 12-05-2008, 01:54 AM

Good information.

cab58grl · 01-15-2009, 01:38 PM

There is quit an abundance of helpful information on this site. I appreciate all the posts, as I'm considering a change of careers into the Insurance industry. My concern is I'm a "newbe" and don't know the industry yet. I'm learning bits through researching the internet. I want to make an informed decision before I pay for my license and commit to the process.

I'm being "recruited" by a GA. branch of Bankers Life and Casualty. I know their requirements are low and I'm not "special" yet I'm curious if any of you professionals have feedback on the company. I'd love to hear all concerns or problems that have arisen from agents who've experienced being a "captive agent" with Bankers.

xrac · 01-15-2009, 02:07 PM

Search this site and I think you will find that Bankers is very low tier. I would go with Combined or Western Southern before I joined Bankers. We have several pros on here from Georgia. The should be able to give you some guidance.

cab58grl · 01-15-2009, 03:56 PM

Thank you for the response. I'll look into these companies.

mfrost · 01-15-2009, 04:46 PM

When I moved to Florida I did not have to re-test,but I had to apply for a Non-Resident License because I did not have my license for a full year.After I had my license for a year I was able to transfer it to Florida.Check with the DOI of Florida for exact details.Good luck

chicagorep · 01-30-2009, 05:27 PM

Good Afternoon, I recently just join this forum and like the KC rep and unsure which path to travel within the insurance industry.

I would appreciate any and all words of wisdom from those that have found success within the industry.

There are many products out there and many companies to choose from. I am sure there are some to stay away from and some to seriously consider.

I am in Chicago and have a have background in B-B sales, and in the end would like to have my own broker agency.

Which tye of insurance is the best to sell in the beginning?
Which companies are the best to work with/for?
Any recomendations of a good insurance broker in the Chicago area?

Thank you!

Carie_Texas · 03-12-2009, 04:05 PM

[COLOR=darkred]What about Farm Bureau Insurance Companies?[/COLOR]

Originally Posted by xrac

You alone can find the right answer to this question but here are some thoughts or suggestions:

1)Read all of the following thread about State Farm. Based upon what I am reading there I wouldn't be eager to joing State Farm.
2)I have met very few people who wound up believing that Farmers was a great gig. Farmers seems to always be hiring.
3)I would look a around and see if there are any other opportunities that might make sense in my market: American Family, Allstate, Metlife, and Indy etc.

jsd1239 · 03-13-2009, 05:41 PM

I took an early retirement, and have a friend that wants me to get into the insurance business, and work for him, selling life and health. I don't have a license, but he is willing to train me and work for him setting appointments to see if I would like it before spending $400. for the course and license for Ohio. I have limited sales experience, I was a part time travel agent for about 10 years, home based and commission only. I did fairly well at that doing it just part time. Does this sound like a good deal or not? I am also wondering what some of the experienced agents think of AHCP and American Income Life, I noticed adds for them on Monster.com and have never heard of them.

superdave45040 · 05-15-2009, 11:41 PM

Selling Individual Health vs Property Casualty? I closed my Allstate agency after the first year. My first thought was to open an independent agency with Erie.
After reading through the forum I am thinking that selling Health might be a better way to go- I would appreciate hearing the opinion of anyone who has done both.......

jsd1239 · 05-16-2009, 10:11 AM

I was ready to take my life and health license test, but with Obama and company, I'm going to hold off and see what happens with the healthcare reform. It might not be worth it if you have to compete with a government plan, and carriers paying reduced commissions.

YouGotMyMoney · 05-16-2009, 10:31 AM

Originally Posted by jsd1239

I was ready to take my life and health license test, but with Obama and company, I'm going to hold off and see what happens with the healthcare reform. It might not be worth it if you have to compete with a government plan, and carriers paying reduced commissions.

It seems from your statement here you were only looking to market individual health plans , is that correct?

Remember, even if you don't want to get involved with indy health right now cause of chargeback liabilities, you can still market Group Health, Life, LTC, Medicare Supps, Annuities...etc.

EFLTEACHER · 06-15-2009, 10:41 PM

Originally Posted by xrac

Search this site and I think you will find that Bankers is very low tier. I would go with Combined or Western Southern before I joined Bankers. We have several pros on here from Georgia. The should be able to give you some guidance.

All BLC does is sell medicare supplements, annuities and long term care to Seniors. They have very few leads for new agents and you will be cold calling the "turning 65 list," and calling years old leads.

You will also have a variety of expenses to pay, while at the same time being treated as an employee.

When all is said and done, you will be in business for yourself anyway, so you would be far better off getting an E & O Policy , signing with a GA , buying a few leads and learning as you go; online , here on this forum and the best school in the world- the school of hard knocks; which is the only place that counts anyway.

xrac · 06-15-2009, 11:20 PM

Originally Posted by Carie_Texas

[COLOR=darkred]What about Farm Bureau Insurance Companies?[/COLOR]

From what I hear FB is pretty good to work for.