Getting Started as a Independent Insurance Agent

[Brian Bailey]

Hello everybody!

This community is a huge resource of information and I'm definitely going to be picking everybody's brains here as I attempt to ramp up. Insurance seems to have no limit on learning some product feature that I'm not familiar with so my goal initially narrow the scope of what insurance products I sell to one or two then go from there. Additionally this allows me to narrow in on identifying which markets are most profitable for those insurance products. Eat, live and breathe insurance until I have enough money to start hiring appointment generators.

It would be really awesome if y'all could share your story about how you got started in this industry so I understand what I should expect. How did it all happen? What made you succeed when you saw your peers give up and start pursuing a career in another industry?

 

[somarco]

Almost everyone who starts independent fails within a few months. If you can associate with a career shop and last a year you stand a better chance of succeeding.

 

[Life Hawk]

Share a little more of your story and I'll try to mirror a bit.

Do you have a mentor?

What types of coverage are you offering?

How do you plan to market?

Shoe leather marketing is one of the best ways to both market and learn.

 

[Brian Bailey]

Well @somarco thanks for the heads up and I'll take my chances as somebody who enjoys knocking my head on a brick wall until I figure it out.

It looks potentially you could be my new mentor now @Life Hawk. You are the second person to recommend me to hit the pavement. You looking for somebody to shine your boots? What's your story?

I have experience in other industries doing outside and inside sales roles. I'm attracted to the Medicare space due to it running on government subsidies given our current situation with the US economy. I was looking at using direct mailers hitting T65 near where I live in rural zips. Additionally outbound dial lists targeting those zips to set in person appointments where I will close the sale. I don't know if this approach is good though. What is y'all's thoughts on my funnel?

 

[Todd King]

Well @somarco thanks for the heads up and I'll take my chances as somebody who enjoys knocking my head on a brick wall until I figure it out.

It looks potentially you could be my new mentor now @Life Hawk. You are the second person to recommend me to hit the pavement. You looking for somebody to shine your boots? What's your story?

I have experience in other industries doing outside and inside sales roles. I'm attracted to the Medicare space due to it running on government subsidies given our current situation with the US economy. I was looking at using direct mailers hitting T65 near where I live in rural zips. Additionally outbound dial lists targeting those zips to set in person appointments where I will close the sale. I don't know if this approach is good though. What is y'all's thoughts on my funnel?

Turning 65 in not where you want to start. You have to start reaching out to them about 8 months ahead nowadays to beat other agents or companies to it. You'll want to target ages 67 and above for that.

Then, of course you can't be calling them up wanting to talk about their Medicare Advantage plan. You can only contact them for their Med Supp, assuming they have one.

Who are you going through for contracting? You should be looking to them for a little help getting started as well.

 

[Brian Bailey]

Yeah that makes sense to not target T65 immediately while starting out in this business as you can only close a sale on a T65 six months in advance before they turn 65 right? That's pretty rough reaching out to them two months in advanced and then also following up with them so they don't go with another broker.

I always can learn more and you seem to have a great reputation around here @Todd King. What do you personally recommend for targeting aged leads?

 

[somarco]

That's pretty rough reaching out to them two months in advanced and then also following up with them so they don't go with another broker.

If you handle the initial contact correctly they won't go to another broker.

 

[Todd King]

Yeah that makes sense to not target T65 immediately while starting out in this business as you can only close a sale on a T65 six months in advance before they turn 65 right? That's pretty rough reaching out to them two months in advanced and then also following up with them so they don't go with another broker.

I always can learn more and you seem to have a great reputation around here @Todd King. What do you personally recommend for targeting aged leads?

I would still use 67+ for that. I would think if you target T65 you would be getting them way too late.

 

[rndz7]

Good points. Remain teachable.

 

[fed up]

Be realistic and accept that you are one of dozens who will be contacting your targeted list and that seniors are getting bombarded daily from TV, Radio, Costco, Walmart, and other agents trying to educate and get their foot in the door