Selling Life Insurance in Florida

[agentwind]

First Post!

I have just be licensed for Life, Health, and Variable annuities in Florida.

I'd like to know how to get appointed to sell life insurance.

Also, I have encountered some acronyms on this website that I am not familiar with. To start, what is an IMO and a GA?

Thanks!

 

[xrac]

Welcome! GA = General Agent and IMO = Independent Marketing Organization. You can get appointed to sel life insurance directly with a company or through an IMO or a FMO (Field Marketing Organization).

 

[agentwind]

Thank you for the response! If I want to be appointed directly, do I just call the company and tell them I am interested in selling their product?

 

[xrac]

Thank you for the response! If I want to be appointed directly, do I just call the company and tell them I am interested in selling their product?

Yes! They will get you to the right person and the paper work. Depending upon the company you may appointed under a regional or area office GA.

 

[Norwayguy]

You mentioned you are licensed to sell VAs as well. I assume you hold a securities registration and are associated with a Broker/Dealer, if so you might want to check with them first as the sale of Life Insurance would most likely be an outside business activity unless run through the B/D and would need approval.

 

[agentwind]

You mentioned you are licensed to sell VAs as well. I assume you hold a securities registration and are associated with a Broker/Dealer, if so you might want to check with them first as the sale of Life Insurance would most likely be an outside business activity unless run through the B/D and would need approval.

I should have been clearer. I do not hold a securities license. Nor am I associated with a Broker/Dealer. I just passed the 0215 test and received the license as well.

I'm not really that interested in selling VA's anyway. In most cases the internal fees are byzantine.
- - - - - - - - - - - - - - - - - -
There is a thread on this forum about the top 5 companies. Would you guys start with calling those for appointments?

 

[Norwayguy]

I should have been clearer. I do not hold a securities license. Nor am I associated with a Broker/Dealer. I just passed the 0215 test and received the license as well.

I'm not really that interested in selling VA's anyway. In most cases the internal fees are byzantine.

Sorry, in Maine the Life & Health License will only contain Life & Health until you pass the Series 6 or 7 exams and register with a B/D then you go to the Securities dept for a 30 minute meeting and they reissue your license with the VA portion.

 

[agentwind]

Don't apologize! I appreciate the information.
- - - - - - - - - - - - - - - - - -
A few more questions:

After I have been appointed,

1) Will the company send/sell me sales literature/buyer's guides to show potential buyers?

2) How do I quote UL and WL policies?

3) Do I need E&O if I am going to start by selling to friends/family part time while I get introduced to this industry?

 

[Norwayguy]

Don't apologize! I appreciate the information.
- - - - - - - - - - - - - - - - - -
A few more questions:

After I have been appointed,

1) Will the company send/sell me sales literature/buyer's guides to show potential buyers?

2) How do I quote UL and WL policies?

3) Do I need E&O if I am going to start by selling to friends/family part time while I get introduced to this industry?

Yes most companies will send you a starter kit and you can order literature off thier website or download it...Most carriers will not charge you for thier sales literature... Each Carrier will have thier own illustration "illusion" software you can download...Also most carriers are available via winflex which is 1 software program that can illustrate for many carriers. Do you need E&O, I will say yes many carriers require proof of your E&O before they will appoint you and its cheap coverage in case you screw up for about $500...I've been trying to think I thought at one time I ran across an E&O carrier offering a really low cost for new agents.

 

[The Gimp]

What part of FL are you in?