New to the Business Have Lots of Questions

IvyLane · 03-20-2009, 04:41 PM

Hi All,
I am new to the industry and this board so please forgive me if I am breaking the board etiquette by posting a new thread similar to one already posted. I have similar questions to other newbies but didnt want to hijack anyones' thread.

I have just finished my prelicensing courses and am ready to take my state test for life and health. I am looking to sell life insurance primarily and am looking for the best way to go about this. If I am correct I can apply to be appointed directly with the carriers, or go through a general agent or broker. I plan to sell online only so the traditional office route wont suffice.

My question is can anyone suggest a good company to work with. I have looked into Efinancial, and Monument insurance, but need more direction. I will not go the NAA route, or anything like that. I am looking for a decent contract (at least 80%), backend support, and possibly some sort of leads or lead reimbursement. Any suggestions.

Also while I think I have the complete gist, can someone explain
1.Captive & Non Captive
2.IMO & MGA

Thanks sooooo much!

xrac · 03-20-2009, 05:17 PM

Originally Posted by IvyLane

Hi All,
I am new to the industry and this board so please forgive me if I am breaking the board etiquette by posting a new thread similar to one already posted. I have similar questions to other newbies but didnt want to hijack anyones' thread.

I have just finished my prelicensing courses and am ready to take my state test for life and health. I am looking to sell life insurance primarily and am looking for the best way to go about this. If I am correct I can apply to be appointed directly with the carriers, or go through a general agent or broker. I plan to sell online only so the traditional office route wont suffice.

My question is can anyone suggest a good company to work with. I have looked into Efinancial, and Monument insurance, but need more direction. I will not go the NAA route, or anything like that. I am looking for a decent contract (at least 80%), backend support, and possibly some sort of leads or lead reimbursement. Any suggestions.

Also while I think I have the complete gist, can someone explain
1.Captive & Non Captive
2.IMO & MGA

Thanks sooooo much!

Welcome! I think you should seek as much advice and read as much on this forum as you can. Not only do you need to find a good contract but you need to find a mentor.

AtlantaLife&Health · 03-21-2009, 03:33 AM

I hate to be the bearer of bad news. There is a search function on this forum that is pretty cool. You can actually find answers to most of your questions if you use it. I'm sorry, but 99 posts ago, I was brand new here and I was told to use the search function so now it's my turn to do it to new folks.

Tomfromtheshade · 03-21-2009, 05:48 AM

There are a lot of companies where you don't have to take applications face to face. You will be able to find some I am sure.

I would recommend that you contract with an IMO. You should get a better commission that way.

Do you have any plans for marketing or getting leads yet? That is where you will make it or break it.

Jocely · 03-22-2009, 11:38 AM

This forum contains a great wealth of information. I have found that if I use the search feature on this board I may not have to wait on responses from the pros, because nine times out of ten the questions that we newbies are inquiring about have already been asked, good luck to you.

geminiman_61 · 03-26-2009, 12:23 PM

Originally Posted by Jocely

This forum contains a great wealth of information. I have found that if I use the search feature on this board I may not have to wait on responses from the pros, because nine times out of ten the questions that we newbies are inquiring about have already been asked, good luck to you.

1+....... search and do a lot of reading. I know it helped me a ton!

Hollywood Broker · 03-26-2009, 05:24 PM

Based on my personal experience, I would'd recommend going captive with anyone. I contracted independently with companies like Ill Mutual and Lincoln Heritage. I've had great success with these carriers. Most of my leads come from referrals and networking groups I attend. Check out Mutual Trust, Coventry, Lincoln Heritage and Prudential. You may like these companies!

IvyLane · 04-29-2009, 04:04 PM

Ive done a lot of research and gotten most of the information I needed, thanks everyone!

But does anyone know about the Monument Insurance Group specifically?

FL P&C Broker · 04-29-2009, 05:19 PM

Originally Posted by Hollywood Broker

Based on my personal experience, I would'd recommend going captive with anyone. I contracted independently with companies like Ill Mutual and Lincoln Heritage. I've had great success with these carriers. Most of my leads come from referrals and networking groups I attend. Check out Mutual Trust, Coventry, Lincoln Heritage and Prudential. You may like these companies!

This might not be the recommended route for someone who needs some training to get started and/or doesn't have the funds to generate some leads.