Originally Posted by ins.dave
Why?
Why don't you give it like 3 years first to see if there is still an industry?
There will always be an industry, as well as agents....maybe not as much on the health side, but for the life insurance companies there will always be a need at least for IAs or someone in a planning type of role to direct towards the appropriate product....at least for the more advanced needs.
Back to the original question:
If you are brand new to the industry I would recomend doing one of two things.
1. Go work as an agent for a captive sales force for a major company, such as Mass, NYL, NW, Pru, Met, etc. They will provide the industry specific training as well as the sales training that you will need to become a knowledgeable agent. They will also provide office space, a reputable name for you to work under, and the back room support that you will need. Another bonus with them, especially as a new guy, they will give you a draw, or performance based base salary type deal for the first few years, so that it helps suplement your income getting started. I would not recomend staying on as a captive agent for more than 2 or 3 years, thats long enough to drink the coolaid and figure things out for yourself. After you know what your doing go find an independent brokerage firm to team up with and produce as an independent agent, that way you can advance in your career with a better platform to meet the needs of your clients.
2. Some independent brokerage outfits will take green agents and provide training, support, etc. just like a career agency will. If you can find a local outfit that you like and provides all of this I would take that route, but they are few and far between. Most independent outfits are looking to bring on experienced and proven agents who are good producers. But there are some exceptions....it just depends on your city.
Bottom line is that your goal should be to get to the independent agent level....or better yet a financial planning type level as an IA.
I wouldnt (and dont) mess with individual health too much. There is money to be made with med-large group health plans, but in my opinion health insurance is a pain in the ass. With larger groups you wont get this much, but smaller ones...or more so individuals...they will call you (and blame you!) when they have a problem with the company or with a claim, when you have almost nothing to do with the claims process. Fortunately I have an assistant who can weed out those types of calls, and employees of my group health plans never get my cell #...lol.
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