Getting Started in the Insurance industry

[ibag8rfan]

Hello all,
I read through this entire thread and found loads of good information, but there are a few questions I have that I couldn't find the answers to in my reading. I didn't try the search function, but at least I didn't create a new thread :/

I am a 25 year old fairly recent college graduate (12/08) with a Bachelors in Economics. I know having a degree isn't a requirement or necessity in this business, but I was wondering if it would be helpful in at least getting me in somewhere? I have just recently (this week) began researching the idea of insurance sales and have been looking at schools here in FL that I could take a class to prepare me for the exam. I believe for a start I would like to do the Life, Health and Variable Annuity license and see how I do before I get completely invested.

The main school I have been looking at is the Andy Beverly School here in Tallahassee. Does anyone have any experience with his classes? I see they are also offered in Tampa, Orlando and a few other cities here in FL, so I'm assuming he is successful but it never hurts to ask. I would also appreciate any other recommendations if anyone has any. I thought about doing an online only course and trying my hand at the test with that, but I want to get the best preparation possible.

I am currently in Tallahassee, but am willing to move to get started with my career. I would actually prefer moving as I am not even from here, only came here for college and have kind of been "stuck" waiting tables and now working as a receptionist in a Dr.'s office. I have applied for a few sales jobs to no avail as most, especially in these hard times, require a few years of sales experience before they'll hire you.

Last question for now:

5 years ago while in college I got a DUI. Is this going to be a major deterrent in getting a job? I appreciate any and all responses and hope to be around for a while!

 

[iothn]

Hi Everyone,

I hope I am posting this in the right category since my question(s) cover a few bases. I had been in the morgage business for 15 yrs and had my own broker shop. I did very well (honestly I might add) but I think it goes without saying what has happened to that business. I could ride these low rates out and cash in on the refi gold rush that's going on now but I really need to look to the future and start establishing a new career. Getting my P&C license makes the most sense to me since I could sell homeowner's and renters insurance to start with. I have a big book of business to call on, I have many friends still in the mtg biz to refer me (as well as realtors, CPAs etc) I'm in with a lot of large companies that had me as their "preferred" lender for their employees. The sales part of this is a no brainer for me, no worries in this department. I will also note that early in my career the first mortgage company required me to get my Life and Disability license to sell these products along with the mortgages so I have sold insurance before. Here are my questions:

1. Since I have been self-employed for so long the thought of the corporate environment turns me off. I know I probably need to pay my dues however I'm a quick learner and a great salesperson, I do believe I would ramp up quickly (yeah I know there is still isn't a question here, I'm working up to it ) I want to be an independent broker and have access to sell multiple companies' insurance much like I did when I was mortgage broker. How hard is this in the insurance world?

2. I'm guessing my license needs to be held by an agency like a realtor does, is this true?

3. Is there a way for an brokerage/agency to hold my license and just pay a flat monthly or yearly fee as opposed to a commission split. I don't need help with the marketing etc which is really the main componenet of going and working for someone such as a Metlife or State Farm. I do understand however that they are taking a risk and E&O is expensive etc.

4. I am in Missouri so is there anyone out there in the St Louis area willing to give me some advice on which direction to take, I'll buy them a drink.
Thanks for listening!

 

[gmhopks]

Hello all,
I read through this entire thread and found loads of good information, but there are a few questions I have that I couldn't find the answers to in my reading. I didn't try the search function, but at least I didn't create a new thread :/

I am a 25 year old fairly recent college graduate (12/08) with a Bachelors in Economics. I know having a degree isn't a requirement or necessity in this business, but I was wondering if it would be helpful in at least getting me in somewhere? I have just recently (this week) began researching the idea of insurance sales and have been looking at schools here in FL that I could take a class to prepare me for the exam. I believe for a start I would like to do the Life, Health and Variable Annuity license and see how I do before I get completely invested.

The main school I have been looking at is the Andy Beverly School here in Tallahassee. Does anyone have any experience with his classes? I see they are also offered in Tampa, Orlando and a few other cities here in FL, so I'm assuming he is successful but it never hurts to ask. I would also appreciate any other recommendations if anyone has any. I thought about doing an online only course and trying my hand at the test with that, but I want to get the best preparation possible.

I am currently in Tallahassee, but am willing to move to get started with my career. I would actually prefer moving as I am not even from here, only came here for college and have kind of been "stuck" waiting tables and now working as a receptionist in a Dr.'s office. I have applied for a few sales jobs to no avail as most, especially in these hard times, require a few years of sales experience before they'll hire you.

Last question for now:

5 years ago while in college I got a DUI. Is this going to be a major deterrent in getting a job? I appreciate any and all responses and hope to be around for a while!

I do not know for sure, but it may depend on the state where you are seeking to get a producer's license. Check the application for that state or call it's insurance dept. and ask.

 

[Sphynx]

Started an independant insurance agency, P&C. Need appointments for commercial and personal lines. Any suggestions? Oh, I have all licenses and E and O already. Who would you recommend??

 

[Yodaseeker]

Is this where the greenies start? Call it like I am! All ears, all green, seeking the wisdom of the learned.

Currently I teach school, 5th Grade for 18 years. Looking to transition into a legit Insurance business. Ran from NAA, WMA, had some success doing flyers in newspapers for Old Line Life years ago but ran out of cash to continue so went back to teaching. Almost had it up to $1000 per month but the drops were $700 or more and just didn't have the capital to sustain until it could build.

Want to work nights and Saturdays until summer and then hit it full-time for a couple of months and leave teaching as soon as possible (no raises for 5 years! - Not stupid just loved teaching or would have left long ago, that and had to put scraps on the table, but need to find the real deal now.)

I live in Utah, would love to find a legitimate, affordable lead source, if such a thing exists. Am appointed with AIG, Genworth, MOO, Secure Horizons, and have been contemplating trying the Senior Market.

Any suggestions besides run, duck, and hide?

 

[roccosoprano]

dont worry , we are all green to begin with and through great forums like this we get better over time. The most important thing is to get with a an FMO that you feel comfortable with and not chase commissions. This is a learning curve and takes time to achieve. If you are looking for an overnight success this probably is not the business. Leads, training & guidance is the most important things to consider. once you figure that out you will be a lot closer to your journey. good luck

I have found Gohealth a great FMO
www.trygohealth.com






Is this where the greenies start? Call it like I am! All ears, all green, seeking the wisdom of the learned.

Currently I teach school, 5th Grade for 18 years. Looking to transition into a legit Insurance business. Ran from NAA, WMA, had some success doing flyers in newspapers for Old Line Life years ago but ran out of cash to continue so went back to teaching. Almost had it up to $1000 per month but the drops were $700 or more and just didn't have the capital to sustain until it could build.

Want to work nights and Saturdays until summer and then hit it full-time for a couple of months and leave teaching as soon as possible (no raises for 5 years! - Not stupid just loved teaching or would have left long ago, that and had to put scraps on the table, but need to find the real deal now.)

I live in Utah, would love to find a legitimate, affordable lead source, if such a thing exists. Am appointed with AIG, Genworth, MOO, Secure Horizons, and have been contemplating trying the Senior Market.

Any suggestions besides run, duck, and hide? [/quote]

 

[Mark]

Ryan, what is that blur of yellow above your name in the signature area? I can't read it----maybe it is a profound statement.

LMAO... I called someone else in my office to see if they could read it. I thought I was going color blind to the color yellow...


You are not the only person that can't see this shade of yellow.

 

[arnguy]

Just scroll over it and it will show up---very funny!

 

[Mark]

HOw long before you think they are going to ban you for spamming us and not following the rules wingatesp.....


Please stop posting the same spam over and over and every post.

I do have the feeling you will be gone soon enough.

 

[dbuckner]

I passed the GA Life/Health test today so I plan to spend some time reading the forum to figure out what to do next! I am open to suggestions too. Thanks!