New agent

[Res_Ipsa_Loquitor]

Hello all.

I am brand spanking new to the insurance biz so looking for a little insight. I am a lawyer by trade, and will continue to work my full time job as a corporate attorney for an energy company. I also run private practice from my home office, from which i make almost no money.
Anyway, I thought I'd give insurance sales a try as I just prefer to work for myself (i had a successful private practice for 5 years before selling out).
ANYWHO, I have been looking around for opportunities to get started. Naturally, I have been contacted by several psuedo-scam artists dressed as insurance company's. I dont want to hurt anyone's feelings (NAA, United American, American Income Life, Etc.) but those are not for me... In my limited experience, paying for a job is a generally bad idea.

I have an interview with Physician's Mutual this week, they seem ok, and are willing to work with me not wanting to work full time yet. Hopefully, It will take off and I can get out on my own again and stop suckling the corporate teet for my well being.

Any input on good companies to work for, Physicians (if they are ok or not) and how to drum up business is good for starters...

 

[Cenla Agent]

I think Physicians is generally considered to be a good company but if I'm not mistaken they have had several big rate increases in recent years. Perhaps someone here can provide more specific information.

 

[johnrocks]

What market do you want to be in? There are several different markets such as senior, health,group. The right company for one product line may be a bad company for another such as Physician's has had some rate increases with their med. supps but has a good reputation in the long term care market as well as some health I believe.

 

[Res_Ipsa_Loquitor]

I'll be honest, I don't really care what market I'm in. I have seen some one the board preaching about "sell only what you truly believe in," but I will sell anything legit (assuming there isnt an equally available better fit). Med supp seems like it would be pretty easy to sell, so too bad they have had rate increases in that area. Thanks.
A really big deal for me right now is that they give me some sort of lead support and or marketing support, because i don;t have tons of time to spend prospecting. If things go well, though, and it turns out I can actually turn a buck here and there then I won't mind spending time drumming up business.

 

[johnrocks]

You may be in a state where Physician's is more competitive. Also maybe if you look at your local demographics because if you don't have time to prospect , you probably won't have time to drive a 100 miles in one direction to sell. If there are sufficent seniors in your area or is it mainly a college town. Since you have a private practice on the side maybe they could also be your COI. Anyway good luck 2u

 

[CHUMPS FROM OXFORD]

"I am a lawyer by trade, and will continue to work my full time job as a corporate attorney for an energy company."

Something is quite odd. Why would you want to venture into insurance???

Does your employer think it is a good idea?

 

[Res_Ipsa_Loquitor]

thanks for the insights and well wishes. I live in a city of about 220,000. My private law practice is pathetic and I have no clients. The problem is that here in Indiana, lawyers aren't allowed to use trade names, so I would have to advertise as John Doe Law Office, which would be ok- except that im trying to hide my private practice from my employer. Not really a recipe for success. I am hoping to spend some time following up on leads provided to me, and some time finding new leads... just can't be out knocking on doors all night with no return. I have money to spend on lead generation though, so that something.
I did some direct mailings for my law office with a little success, so might try that again, or maybe hire a telemarketer. But im not really sure how to go abou t doing that, there seem to be alot of posts about that though, so I will have plenty to look at.

 

[Res_Ipsa_Loquitor]

"I am a lawyer by trade, and will continue to work my full time job as a corporate attorney for an energy company."

Something is quite odd. Why would you want to venture into insurance???

Does your employer think it is a good idea?

just trying to make some money on the side... we dont have a moonlighting policy and my employer is not the king of my life. Also, I dislike my job quite a bit, but can't get away from the money. Why is that odd? DO you see insurance as teh last reort for the desperate?

 

[johnrocks]

LOl I can't speak for Chumps but I guess the oddness is after spending sooooo much time learning your profession then jumping to another profession but once I sold cars in Dallas and out of about 60 sales people there were TWO ex attorneys who swore they made more money with less aggravation in the car biz as opposed to law.

There are a lot of good professionals here so I am sure you will find some things of interest. Check all of the older threads( I did that) and you can find subjects ranging from cold calling scripts to my radical political views!!

 

[CHUMPS FROM OXFORD]

just trying to make some money on the side... we dont have a moonlighting policy and my employer is not the king of my life. Also, I dislike my job quite a bit, but can't get away from the money. Why is that odd? DO you see insurance as teh last reort for the desperate?

I assume you mean "the last resort."

No, I don't see it as a last resort. However, it is a very peculiar combination...one I haven't seen in quite a while. That is...a Corporate attorney by day and insurance agent by night.

Regardless...good luck.