I hear Life is where the bigger money is these days over health. any experience or Input with this?
Health there seems to be a lot of chargebacks
Which markets is the best future you think?
Depends...lots of variables to the answers of your questions.
Depends on your skills, spheres of influence and ability to get before people for larger life cases. Most people can't get there from here. You need skills to be a top life producer, much more so than those involved in health sales.
Not many chargebacks in health if you do it right. Don't cram people into policies that aren't the right fit for them. Pressing too hard is the recipe for chargebacks. Most successful health guys have very few chargebacks...
On average, more folks can make a decent living in health than life. Obviously this varies much from person to person based on motivation and skill set. Leads are key... you have to have someone to talk to either way.
------------------------------------
"A successful man is one who can lay a firm foundation with the bricks others have thrown at him." David Brinkley
On average, more folks can make a decent living in health than life. Obviously this varies much from person to person based on motivation and skill set. Leads are key... you have to have someone to talk to either way.
As always you are sharp as a razor. I know that you were not really cracking the people who focus on health, but your analysis is right on target.
When I switched from life full time, to a mix of both, but mainly focused on health, it was like being on vacation. I think being full time in big life sales is easier in certain parts of the country. The pressure that a life and annuities agent feels in a wealthy enclave in New Hampshire is entirely different than a thinly populated area in the South, where you are constantly reaching out to clients at a distance.
If you are going to work for NASE, health will be your bread and butter. If you are going to work for NYL, life will be. If you are going to be an indy broker, you can pick and choose.
I would say life in the long run is better for renewals, health is good for quick money if you take advances, but health has way worse presistency. Way worse. If you want to put some stuff on the books that stays, I would say life and DI, long term care, and maybe some med supps. Underage 65 health is just really temp stuff, even if it is sold as permanent, it can be temp because people shop the rates, they get a job with benefits, the spouse gets a job with benefits, so on.
If you are going to work for NASE, health will be your bread and butter. If you are going to work for NYL, life will be. If you are going to be an indy broker, you can pick and choose.
I would say life in the long run is better for renewals, health is good for quick money if you take advances, but health has way worse presistency. Way worse. If you want to put some stuff on the books that stays, I would say life and DI, long term care, and maybe some med supps. Underage 65 health is just really temp stuff, even if it is sold as permanent, it can be temp because people shop the rates, they get a job with benefits, the spouse gets a job with benefits, so on.
So true. If you can socialize with larger earners, life ins will do you well. In this economy, individual health can be a disappointment as pointed out. Medicare is a good market because you can develop an annuity etc business there. Buy leads on the internet to get started.
I don't believe in working for someone else.
------------------------------------
"People who think they know it all really annoy those of us who do"
In this economy, individual health can be a disappointment as pointed out.
Not true with me.
Individual/family health is my specialty. "This economy" is probably the largest opportunity that I have seen...
Between self-employed/1099 folks, people who lost their job and need a lower cost alternative to COBRA, and people who can save a lot by taking their dependents off a group and putting them on individual coverage, my business has never been busier! I'm writing tons of business.
Be careful who you listen to on here, there's a LOT of losers.
------------------------------------
[COLOR=blue]Don't steal - the government hates competition.[/COLOR]
As always you are sharp as a razor. I know that you were not really cracking the people who focus on health, but your analysis is right on target.
When I switched from life full time, to a mix of both, but mainly focused on health, it was like being on vacation. I think being full time in big life sales is easier in certain parts of the country. The pressure that a life and annuities agent feels in a wealthy enclave in New Hampshire is entirely different than a thinly populated area in the South, where you are constantly reaching out to clients at a distance.
Ok Im from NH , so I need to dig deeper on whether to try health or Life ?
- - - - - - - - - - - - - - - - - -
Yes opinions make the world go round. amnd so far the difference on this thread is more confusing than enlightening.
But understand everyone has differences. I dont have a huge sphere of influence, I would prefer home working , marketing and writing rather than too much on the road.
Just trying to feel what market to try first.
Last edited by guylombardo : 11-16-2008 at 09:01 AM.
Reason: Automerged Doublepost
Ok Im from NH , so I need to dig deeper on whether to try health or Life ?
- - - - - - - - - - - - - - - - - -
Yes opinions make the world go round. amnd so far the difference on this thread is more confusing than enlightening.
But understand everyone has differences. I dont have a huge sphere of influence, I would prefer home working , marketing and writing rather than too much on the road.
Just trying to feel what market to try first.
There is an excellent high end market in the North East for Life Insurance and it is more accessible, than you may think. If you don't have a good referral system, start out by buying life leads in your area and some of the more expensive zip codes in NH and Ct.
I'm not familiar with the Health Insurance market up there, so I really can't say, but you have a golden goose in life. I'd focus on that, heavily, and success will follow. You'll learn a lot too, because their situations tend to be more complex. Stack up some cash and then pursue health if you like.
I'm in the Charlotte area of North Carolina. What would be your guess as to which market would be better? I just passed my health test and am moving to the life test. The more I read here it seems that specializing is the way to go.
This state has become a place where people are retiring to. I would say the average age of someone who moves here is mid to high 40's. The influx over the last ten years has been huge (until lately). I would say there is a good bit of people with money here now. Ten years ago it was completely the opposite.
This is especially true if you pursue life sales. You have to create the sale which is entirely different from health sales.
Most folks have health insurance, they're looking for something better. The ones that don't have health insurance are mostly a worthless cause. When I run in to them I give them one shot to buy and then move on.
The opposite is true when it comes to life insurance. Very few personally own life insurance. If they have coverage thru their work it is usually a nominal amount. You have to create the need then find the money.
Health insurance is a selfish sale. Most recognize what can happen to their assets if they need health care and don't have insurance.
Life insurance is unselfish. The benefit is not for them but for the ones they love.
Apparently there are a lot of (mostly men) who do not love their families very much.
If you want to pursue life sales, women, especially single women with children, are an easier target. Quite a few women will buy life insurance on their husband too.
From a practical standpoint it sounds like starting with health would be the best idea. I'm not far from making the move now. I'm reading all I can to decide whether to go captive or not. After reading this board for a few months now and having thought about it some, it seems like one could go independent starting out in health if all you're doing is taking applications as some call it.
I can't even remember how I found my health insurance agent 7 years ago. He simply sends me paperwork and hasn't sold me anything to tell you the truth. He hasn't provided much service either so I guess he'll soon be replaced by ME. I'm 44 and looking forward to the career change.
I've come to the conclusion from having been in business for years now that getting licensed is the least of my worries. It's all about how you are going to market the thing. I'm having a website built and learning all I can there. I'm having the site built not to just gather leads but to sell them or trade them also. I'm pretty excited about that. We'll see.
Right now I need to figure out a plan to get the ball rolling. I have a feeling it will include a lot of cold calling. Been there done that but it's been a while.
Somarco, I've read a lot of your posts. I appreciate the help!
- - - - - - - - - - - - - - - - - -
Healthagent I didn't want to leave you out. I've read a lot of your posts also and very much appreciate your contribution as well.
Thank-you
Last edited by Bitnis : 12-01-2008 at 09:11 AM.
Reason: Posts merged
I'm having the site built not to just gather leads but to sell them or trade them also. I'm pretty excited about that
Hate to burst your bubble, but hanging up a site and expecting to make money from leads, including those you want to sell, is probably not going to happen the way you envision it.
Agents with sites usually do it for one of 2 or 3 reasons.
Personal sales, recruiting other agents and creating an additional revenue source thru selling leads to those agents, selling leads thru an affiliate arrangement with one or more of the major lead vendors.
Everyone I know in the latter two areas are not paying someone to build their site. They do it themselves.
get the ball rolling. I have a feeling it will include a lot of cold calling.
Unless you have a big bankroll, there is no better way to start than knocking on doors, handing out cards & flyers and picking up the phone.
December is a short month and it might be tough to get things moving as quickly as you want, but at least you can start building your pipeline. Most carriers change plans & rates in the first quarter. Blue (at least here in GA) has always been big on 1st quarter increases that drive folks to look for a better value.
Dickens said this is the best of times and the worst of times. Those who can survive and thrive during this period of uncertainty will be the winners while others will move on to something easier.
You must work hard AND smart. Nothing is ever easy in this business.
On a side note, in addition to not wasting time on young, old and uninsured's, there is one more group of leads I never chase. When you call the number and get a music recording, I always hang up. Total waste of time.
And thanks for the kind words. Call me if you ever feel the need.
Hate to burst your bubble, but hanging up a site and expecting to make money from leads, including those you want to sell, is probably not going to happen the way you envision it.
Using diplomacy Somarco? It's not going to happen at all without $750K or half that and a partner.
Its hilarious when agents post the fairy tales of their success generating leads online, because one person bought a policy from them last month, stumbling onto their website.
Last edited by bill3173 : 12-01-2008 at 10:57 AM.
Reason: left out word
Life Or health insurance sales ?
Linear Mode
