Insurance Agent Forum

[hdlabs]

Considering being an agent myself and was wondering if this was a good deal or not---independent agency with about a 1.3 million book. Owner works by himself with a few csr's..... will pay me 25k a year salary for 2 years plus 35% new business and renewal commissions....after 2 years we would talk about 40% nb and renewals with no salary....problem with me is no benefits and wife is in nursing school right now.....I've been in underwriting for about 5 years and think I would like sales but not sure.....what would reasonable premium for first year---200k-300k---would like to primarily target Farms or mid-size commercial to learn the business---already know farm insurance pretty good.....
He is 55 and I'm 31----Potential to buy business from him in 7-10 years.....What would you guys do? Need some good advice----also thought about buying Nationwide book or Allstate book but kind of want to stay away from the life requirements.....