Is It Wise to Seriously Consider a Career of Selling Senior Insurance in NC Right Now???

hd2ctc

New Member
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Hello, I live on the outskirts of Charlotte, NC. I am 49 yrs old and have worked int he medical billing field for the last 20 plus years. I have always been the person everyone asks to explain what or how their health insurance plans work. So now I am seriously considering getting my license and signing up with Berwick Group.
Is this an area where I can do well or is it another career that wont last or will involve spending all my earnings just to try to build business?
I plan to do just life, health and Medicare/LTC I am not really interested in P & C at this time. From what I have read on this forum most recommend I put my efforts into being indy instead of captive. This is fine with me as I left my last job after 5 yrs because I was tired of working extra for someone else to reap the rewards for my hard work. So being self employed is what I really.
I am currently taking my pre license classes online and have filed for my state application so I have committed about $500 towards this already. I hope to have exams and license by Sept. 15th.

I have some questions as to what to expect doing this. I only need $30K a year to make personal ends meet, I have seen some posts say to plan on 6 figures. That would be great but I want to focus on what is needed and anything over 30K would be a bonus.
Are there other companies beside Berwick to sign up with? Or is it better to go straight to the horse's mouth and signup with United Healthcare and Humana and others directly?

If there anyone in NC that would be willing to offer any advice good or bad in regard to this endeavor that would be great.
 
Hello, I live on the outskirts of Charlotte, NC. I am 49 yrs old and have worked int he medical billing field for the last 20 plus years. I have always been the person everyone asks to explain what or how their health insurance plans work. So now I am seriously considering getting my license and signing up with Berwick Group.
Is this an area where I can do well or is it another career that wont last or will involve spending all my earnings just to try to build business?
I plan to do just life, health and Medicare/LTC I am not really interested in P & C at this time. From what I have read on this forum most recommend I put my efforts into being indy instead of captive. This is fine with me as I left my last job after 5 yrs because I was tired of working extra for someone else to reap the rewards for my hard work. So being self employed is what I really.
I am currently taking my pre license classes online and have filed for my state application so I have committed about $500 towards this already. I hope to have exams and license by Sept. 15th.

I have some questions as to what to expect doing this. I only need $30K a year to make personal ends meet, I have seen some posts say to plan on 6 figures. That would be great but I want to focus on what is needed and anything over 30K would be a bonus.
Are there other companies beside Berwick to sign up with? Or is it better to go straight to the horse's mouth and signup with United Healthcare and Humana and others directly?

If there anyone in NC that would be willing to offer any advice good or bad in regard to this endeavor that would be great.

Disclaimer...I'm not licensed in NC, but I've got a lot of friends who are. Working the Senior market you will be fine, but you need to drill down on 1 specific arena at first. I'm not familiar with Berwick, so I don't know what they offer. If you have half a brain and know how to talk to people, you can easily make 30K in Final Expense...honestly if you're don't make 50-60K..you're doing something wrong. If you were to hit the streets hard and sell 200K in Med Supp premium, you'd easily be able to hit your 30K nut. 200K in NC might be 130-160 clients depending on average premium...even at 160 clients, that's a shade over 3/week...should be pretty easy.

My in-laws live in Greensboro, so I am familiar with your area and I think you would be wise to take the leap.
 
The biggest hurdle in FE you face in NC is not having the sliding Level-Graded App in your State. Meaning you have an app for Level coverage only or a Graded App only.

Some of the companies in FE that are talked about alot on the Forum just leave out the Graded policy as an option for you to sell on one application. Small adjustment to make in a sales presentation that is all.

Berwick sounds like a Individual Medical and Med Advantage/Med Sup Agency, so watch out for assigning of commissions to their agency..... You never want to do that. I believe they are like most IMO's that do more health than FE, they do not have enough carriers to do the job right in FE, so you will need additional carriers outside of that group.

You can get direct contracts in that field without assigning commissions. You do not need an Agency to sell MA/MedSup plans. Most only offer limited training and you can do much better as an independent doing your own Marketing.

Good luck to you.
 
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