Anonymous7
New Member
- 4
I have been tossing around the idea of moving into the Life Insurance industry for roughly 3 years now. I have around 12 years of sales experience mostly in 100% commission retail and have always been in the top percentage for performance. I currently have interviewed and researched NYL and Mass Mutual in my area and am definitely leaning towards NYL.
I understand that the general practice to get started in most of these companies is to fill out a list of your warm market prospects and build from leads and referrals. I did test the waters a little bit and reached out to some contacts that I felt could benefit from a life insurance product and not just my closest friends. I had very good feedback and had a list of about 20 or so people that are willing to sit with me. My main concern in making this jump is what do you do after your warm market dries up. The most successful agents are obviously not working off of nothing but their warm markets referrals. Also, when first making this jump, I hear that it will take some time to get a steady income coming in. So what would some of you tenured agents recommend as a backup money source? like 6-12 months of monthly expenses put away?
I have heard all the horror stories of working for a captive agency that just wants to suck every possible lead from you with no concern for your success, but I also know that making a giant step into a completely new industry would be significantly harder without any training and guidance. So your thoughts of NYL as a company and whether or not you feel this company is truly interested in your success.
I am reaching out here for a little advice because I have started that corporate ladder climb with a good company. However, now that I have experienced management and everything I thought I wanted to work towards. I have realized that if I continue this path, I will just end up working 60 hours a week, in a corporate retail environment, and only making a fraction of what a decent Insurance agent makes. I feel that if I am going to make this jump, it should be soon.
Thank you for your time.
I understand that the general practice to get started in most of these companies is to fill out a list of your warm market prospects and build from leads and referrals. I did test the waters a little bit and reached out to some contacts that I felt could benefit from a life insurance product and not just my closest friends. I had very good feedback and had a list of about 20 or so people that are willing to sit with me. My main concern in making this jump is what do you do after your warm market dries up. The most successful agents are obviously not working off of nothing but their warm markets referrals. Also, when first making this jump, I hear that it will take some time to get a steady income coming in. So what would some of you tenured agents recommend as a backup money source? like 6-12 months of monthly expenses put away?
I have heard all the horror stories of working for a captive agency that just wants to suck every possible lead from you with no concern for your success, but I also know that making a giant step into a completely new industry would be significantly harder without any training and guidance. So your thoughts of NYL as a company and whether or not you feel this company is truly interested in your success.
I am reaching out here for a little advice because I have started that corporate ladder climb with a good company. However, now that I have experienced management and everything I thought I wanted to work towards. I have realized that if I continue this path, I will just end up working 60 hours a week, in a corporate retail environment, and only making a fraction of what a decent Insurance agent makes. I feel that if I am going to make this jump, it should be soon.
Thank you for your time.