If you had it to do over again.......

[Corporate Death]

........ knowing what you know now, and you havent sold insurance for 15+ years, would you jump into a captive situation like American Republic to get started and some structure? I know not to believe the "You can make over $100k first year" excrement they advertise, but what little I saw of their commission structure and products looked decent. I figured $60-$80k would probably be more realistic, assuming I'm working at least 60hrs per week, which is nothing.

Also, are there any captive companies that sell Assurant? Aetna? Golden Rule? Been seeing you folks talking about them positively for a long time, figured I'd check it out.

I'm not ready to jump back in just yet, have to get licensed and put money away for two months or so to cover bills and expenses until I can get some commission checks. That means I'll probably be selling some product from some other company that either provides a nominal base salary and the ability to generate commissions immediately, or just a salary. They dont have to know my long term plans.

 

[somarco]

AR is a decent company. You could certainly do a lot worse in a captive situation.

The good thing about being captive is you get a chance to test this industry without any outlay on your part.

The bad news is, if you can't make it, you will probably end up with a negative balance.

The good news is, your negative balance will still be less than it would have been if you financed your business from the start.

The bad news is, when you leave you will not be able to take your business with you (even if you have a positive balance) and will most likely have a non-compete to deal with.

You may find an FMO that offers products from Time, GR, Aetna, etc. There is at least one in the Atlanta area, possibly more. If you can find such an agency in your area, that is another consideration.

 

[Corporate Death]

Kewl,

Thanks Somarco!

 

[The Rabbi]

I see health insurance as a temporary, but quick income.
The policies don't seem to last.
Perm. life Insurance, Long Term Care pay well and provide renewals. Best of all, you can go direct.

My experience with FMO's etc is to expect nothing. Get a release up front for when you find out they're bums.

If you have high expectations for yourself, be independent.

 

[Corporate Death]

Oh, no doubt Health is a temp game. Even with the 36mo rate lock, it will go up in the future, no matter how much he sold the "lifetime renewals" spiel. I sold life insurance a while ago and the good thing is that AR does have life available to toss on there. Hopefully some of those will stick.

When I do get back in the game, I fully intend to become independent at some point, but I'm trying to be honest with myself. I only sold Insurance for about four years, ending 15 years ago. If I go Indie right now, I will fall flat on my face. I need some structure. I've forgotten so much it's absolutely rediculous. I'm essentially starting from scratch.

I see health insurance as a temporary, but quick income.
The policies don't seem to last.
Perm. life Insurance, Long Term Care pay well and provide renewals. Best of all, you can go direct.

My experience with FMO's etc is to expect nothing. Get a release up front for when you find out they're bums.

If you have high expectations for yourself, be independent.

 

[JE INSURANCE]

so you wouldnt suggest going indy selling health now?? or would you go work for a big name insurance carrier like metlife or nyl??

 

[Corporate Death]

so you wouldnt suggest going indy selling health now?? or would you go work for a big name insurance carrier like metlife or nyl??

Is that a question for me, or for one of the experienced agents on the board?

I've sniffed MetLife, Prudential, and a few of the big investment houses who are looking for "turn and burn Financial Advisors". I simply abhor the idea of beating up on friends and family with that "Project 200" list. Wont do it.

I'm looking for a target market, remember making nice big commissions selling MM back in the early 90's, along with Life, AD&D, and some med supps. Even though I didnt sell a lot of health, thats what I'm going to go back to. No, it's not an easy sale, but overall MY impression of it was that it was easier than just straight life. Of course, I'll be trying to tack some life onto it. I'm looking for that target market of bus owners and individuals who are in need of health insurance. With leads provided, I should at least be able to make a living if I'm working 50-60 hours per week. Not expecting the $110k that AR suggested would be a result of minimal performance in the first year.

First things first, get a bread and butter job to feed the family, then get licensed. I need the structure of a captive company first. If anyone has any suggestions for other captive Ins companies, I'm open for suggestions (as long as they dont include names such as UA, UGA, AIL-been there, done that, Cornerstone, or AFLAC).

 

[JE INSURANCE]

thats exactly the feeing i got from my interview with metlife, sell to friends and family then see ya!!...health looks like a product that more in demand...im just wanting to know is there somewhere that i can get trained on the different types of health products available...i see that most people either get internet leads or some sort of telemarketing, if im wrong let me know?? thanx

 

[beatuplunchbox]

AR has a lot of med supp customers in my area, they seem to be happy with it and their agents. Rates seemed really decent compared to some of the other companies I ran across doing MA. Might want to look into that line of their business.

Mac

 

[Corporate Death]

AR has a lot of med supp customers in my area, they seem to be happy with it and their agents. Rates seemed really decent compared to some of the other companies I ran across doing MA. Might want to look into that line of their business.

Mac

Good stuff, lunchbox. I'll definitely be looking into their Med Supp products for NC too.