Going from a General Agent to Either a MGA/IMO/FMO

[TheMsDiva]

Hello everyone. I've had my life and health license for about 3 years. I started off as a general agent selling Medicare plans. Then I was a general agent selling healthcare. Both was through a call center. I loved working there and I have a passion to continue to sell health plans. However, I want to do so in the privacy of my home. I'm use to the support the call center's provided however learned a lot and I've retained 90% of it. I know this is a growing and ever changing field and I'm up for the challenge.

I need help deciding which way to go next. I would still love a company that offers support if needed but I don't need to be babied. I want to sell healthcare from my home and looking for advice, offers and suggestions. Thanks.

PS.. I prefer to remain in the healthcare field. Healthcare I get, life insurance not so much. It's too many varies. With healthcare I can go on the exchange and look at what plans are offered and research on the respective websites. Life insurance there is not a one stop shop to see all available.

I want to continue my nine to five while I build this. I can't afford to rely only on this while its beging build up. Hopefully I explained myself clearly.

 

[FRJ]

Hello everyone. I've had my life and health license for about 3 years. I started off as a general agent selling Medicare plans. Then I was a general agent selling healthcare. Both was through a call center. I loved working there and I have a passion to continue to sell health plans. However, I want to do so in the privacy of my home. I'm use to the support the call center's provided however learned a lot and I've restrained 90% of it. I know this is a growing and ever changing field and I'm up for the challenge.

I need help deciding which way to go next. I would still love a company that offers support if needed but I don't need to be babied. I want to sell healthcare from my home and looking for advice, offers and suggestions. Thanks.

Going solo entails that you acquire carrier contracts for yourself - some are available direct but most will have you go through an intermediary (could be referred to as an MGA, IMO, FMO, or some other acronym). Review what each intermediary has to offer and what features/services may be most valuable to you. Of course, also compare offered commission rates.

You'll need your own E&O insurance, a computer, and a phone...the basics. Aside from that, your main objective is to acquire leads that will turn into sales - start putting together a plan and budget for lead acquisition. Think about how you will market yourself and put your plan into action.

Good luck!

PS what state do you primarily plan to work in?

 

[TheMsDiva]

How do I obtain E&O insurance? I plan to mainly work in Texas.

 

[pcbinsurance]

"I'm use to the support the call center's provided however learned a lot and I've restrained 90% of it"
**************************

Feel free not to restrain yourself. You could be holding yourself back doing that.

 

[TheMsDiva]

"I'm use to the support the call center's provided however learned a lot and I've restrained 90% of it"
**************************

Feel free not to restrain yourself. You could be holding yourself back doing that.

Thank you for that catch. I meant to say to say retained. I've learned a lot in the call centers and I want to build on it.

 

[The Gimp]

How do I obtain E&O insurance? I plan to mainly work in Texas.

NAPA E&O Insurance For Agents, Agencies & RIAs or E&O for Life and Health Agents would be a start.

 

[TheMsDiva]

Thank you. I'll look into it.

 

[thomasm]

Hello everyone. I've had my life and health license for about 3 years. I started off as a general agent selling Medicare plans. Then I was a general agent selling healthcare. Both was through a call center. I loved working there and I have a passion to continue to sell health plans. However, I want to do so in the privacy of my home. I'm use to the support the call center's provided however learned a lot and I've restrained 90% of it. I know this is a growing and ever changing field and I'm up for the challenge.

I need help deciding which way to go next. I would still love a company that offers support if needed but I don't need to be babied. I want to sell healthcare from my home and looking for advice, offers and suggestions. Thanks.

Judging by your name, meaning the ms stands for medicare supplement...

You should check out:MedicareAgentTraining.com - Medicare training on how to sell Medicare Supplements by phone

All you need is some basic training, a PC, a dialer & unlimited data to call, and you could be selling from home in your pj's in no time!

 

[TheMsDiva]

Actually the MS do not stand for Medicare supplement. I'm mainly interested in obtaining leads for healthcare. I've done Medicare so I'm willing to sell these as well.

 

[vic120]

Not really sure how much a book you can build while holding a 9 to 5 and based on much of your post it seems you are very comfortable working for a company

It def will be a big transition,If you want to make it work you need to be dedicated to making it work and be willing to work harder then most people who work for companies

I completely get haw scary it can be and when I started as independant I had to work too.

However I worked overnights and weekend and dedicated my days to My buis

I had to sacrifice some of this comforts for a time. and be willing to do what many are not.

Now I am comfortable and independent. I don't have to do those things anymore

However it takes hard work and sacrifice to achieve for someone who does not have a bankroll to live off while building a buis