Help Getting Started and Educated in This Business......

aspiringagent62801 · 11-13-2009, 07:09 PM

This seems like an amazing board so I registered. I have a few questions about selling insurance.

1. How much can I expect to make? I really need a job and this seems like a great way to make money, especially when i think i am a fairly good salesmen.

2. I had an interview with pmaUSA(conseco) and they said id work 4 days a week and stay in hotels and stuff. Is that company a scam? Id like to work 5 days a week but not be on the road 24/7. which company could offer that?

3. Is there really true residual income? When you sell a policy do you only get paid that once?

4. Other than an insurance license what else will be needed to start selling insurance...I'm broke right now.

5. If you have a couple of bad weeks, will you not be paid anything?

6. Anything else you can tell a newbie like me, I'm all ears. I'm located in Illinois. That might be important when talking about good companies to work for.

YouGotMyMoney · 11-13-2009, 07:12 PM

Where to start....

aspiringagent62801 · 11-13-2009, 07:24 PM

Originally Posted by YouGotMyMoney

Where to start....

im all ears man

xrac · 11-13-2009, 07:32 PM

Originally Posted by aspiringagent62801

This seems like an amazing board so I registered. I have a few questions about selling insurance.

1. How much can I expect to make? I really need a job and this seems like a great way to make money, especially when i think i am a fairly good salesmen.

2. I had an interview with pmaUSA(conseco) and they said id work 4 days a week and stay in hotels and stuff. Is that company a scam? Id like to work 5 days a week but not be on the road 24/7. which company could offer that?

3. Is there really true residual income? When you sell a policy do you only get paid that once?

4. Other than an insurance license what else will be needed to start selling insurance...I'm broke right now.

5. If you have a couple of bad weeks, will you not be paid anything?

6. Anything else you can tell a newbie like me, I'm all ears. I'm located in Illinois. That might be important when talking about good companies to work for.

If you are broke right now get a job: deliver pizza, work at Walmart, do whatever you have to in the short term. While you are doing that spend as much time as you can reading this forum. There is a lot of garbage here but there are some good points also. After a while it will start to come together and make sense. Then you can go for it and you will have a better chance of surviving.

healthagent · 11-13-2009, 07:33 PM

You've have to define "broke." Also, do you currently have a license?

YouGotMyMoney · 11-13-2009, 07:34 PM

If you are "broke" and need immediate income, being an independent agent right now, might not be the best route to take for your current situation.

I don't which insurance lines you want to market. But it's going to take about a month before you see any income you can bank on, if you do individual health. Fully underwritten life, same or longer. Seems like Med Supps pop right off, maybe I am wrong, ask Frank about that.

Remember, this is a business.

You are the CEO/Janitor/Secetary.....etc.

It is not a job.

You need marketing money, at the very least enough for an auto-dialer and data list if you want to telemarket and money to live on.

Do you have any call centers in your area, even if it's customer service at an outsourcing call center or agency? Or a job you can do to save money up to start your new business?

aspiringagent62801 · 11-13-2009, 07:55 PM

Originally Posted by YouGotMyMoney

If you are "broke" and need immediate income, being an independent agent right now, might not be the best route to take for your current situation.

I don't which insurance lines you want to market. But it's going to take about a month before you see any income you can bank on, if you do individual health. Fully underwritten life, same or longer. Seems like Med Supps pop right off, maybe I am wrong, ask Frank about that.

Remember, this is a business.

You are the CEO/Janitor/Secetary.....etc.

It is not a job.

You need marketing money, at the very least enough for an auto-dialer and data list if you want to telemarket and money to live on.

Do you have any call centers in your area, even if it's customer service at an outsourcing call center or agency? Or a job you can do to save money up to start your new business?

See...pma(conseco) said they provide me with all that and tell me where to go and etc. Only cost to me would be my license.

healthagent · 11-13-2009, 08:00 PM

You've heard the best advice you're going to get - especially since you're not even licensed yet. I recommend you get some kind of job and build some cash reserves, then revisit selling insurance.

VaDwayne · 11-14-2009, 01:26 PM

I totally disagree with getting a pizza delivery or any other job. I have found that this career will allow you to make money if you work 60-70 hours a week the first year.

It is my opinion is this; doing something halfway, brings halfway results.

You need to take a self-inventory and see if you are willing to cold-call 6-8 hours a day, work Mon-Sat., study products at night, get up early and start all over again.

If you are not willing to do that, or can't do that, this is not the career for you.

If you can, you will love it. At a Ohio National meeting the other day I was asked when I plan to retire and I told them that I already am. I love this career, and working for yourself is like being on a permanent vacation .

robliano · 11-14-2009, 01:37 PM

Originally Posted by aspiringagent62801

This seems like an amazing board so I registered. I have a few questions about selling insurance.

1. How much can I expect to make? I really need a job and this seems like a great way to make money, especially when i think i am a fairly good salesmen.

My Father told me to get into sales because you can make as much as you want, he was right. They key is knowing what you're doing, sales training is often missing in this industry, you can get an overload of product training but rarely if ever does anyone train you to actually posses sales skills.

3. Is there really true residual income? When you sell a policy do you only get paid that once?

With health you get paid level commission for 12 months, then it drops dramatically, which is why man agents "flip" clients to another policy, usually in the agents interest, not the clients, to maintain the commission level. Other lines pay differently, where is your interest?

4. Other than an insurance license what else will be needed to start selling insurance...I'm broke right now.

You'll need E & O and may have to pay for appointments with carriers.

5. If you have a couple of bad weeks, will you not be paid anything?

Most of the time yes, unless you have a unique situation/offer.

6. Anything else you can tell a newbie like me, I'm all ears. I'm located in Illinois. That might be important when talking about good companies to work for.

You can call me for a free consult, but be prepared for brutal honesty.

jody108 · 11-15-2009, 03:42 PM

Yeah, if you are broke ... you need to get another job for now ... it won't take long, but if you run a few appointments and make a few sales, you will get a nice fat check within a week or two. My first check was $700 and then I got $1000 the next week and $3000 the next week ... The first few months are gravy ... until you start having a few chargebacks ... then you have to give some of those earnings back; however, I learned to avoid those chargebacks too ... it just takes some time. However, anyway you look at it, you are going to profit selling insurance if you put your heart into it. You just need a system and stick to it ... figure out if you are going to sell life or health or property insurance ... then start with one aspect of that ... for instance, if you go the health route, you can focus on Med sups to start with ... or if you go the life route, you can focus on the Final Expense side of it ... or if you go property, you can start with just doing autos ... then you can branch off and learn other aspects of the insurance business. It's all quite overwhelming at first. I'm still learning too ... but it's been a very lucrative learning curve ... i recommend staying with it!