New and Need Direction

[sky301]

New to insurance sales and completely lost. This is where i stand. I had to make a mid life career change and after sending out resumes one of the replies was from a insurance company which sounded promising and agreed to join in. I have recently got my state license now here's the issue. I will be an independent, use the company formula for sales and working straight commission, 60% to start. I will be required to buy a specific number of leads every week at about $25 each. Even though money is tight i can handle that for a while.
The issue is most of the training and information is all online packets or by phone/internet. My mentor is over 200 miles away and there is nobody, agent or manager within 3 states of me. Any questions i have about anything i have to phone someone to get answers. I'm not looking for someone to hold my hand or do the work for me, but i can only read and reread the sales technique and lit and try to understand the products i will be selling so many times. My real life support base is very limited and do not really have anyone to practice on. Most of the others in the company live near a mentor or belong to a independent agency so they have a physical location or direct physical interaction with others in the business to talk/work with.
I really think this is a good company with the chance to make a very good living, but by the same token i really think i need to be able to work with someone in person for a learning, training and experience standpoint. I really don't have any idea what i am doing aside from a basic knowledge of the products and following the presentation outlines.
I was told the best way to learn is to get out there and learn from doing or mistakes, which everyone makes. But i really am not comfortable going out there and making mistakes because of what i don't know or lack of training, on people who are putting their future and trust in me and my knowledge of what i'm selling. Again, i'm not really sure what i am doing or the aspects of all the products. I am not afraid to go out and sell BUT i do not want to go into the field so unprepared or lacking. And i have expressed all these concerns to my mentor.
I spoke to people who have said that being new and with no background in insurance, that going independent IS NOT the way to go. Even more so when there is no one from the company is ever physically near you for help or guidance and you have to depend phone or internet for everything. ( Is it reasonable to assume my mentor can/should take an hour out of his day, or more a week for training and going over scenario's?) Others say it's a prime spot for me being everything is open territory.
All i know i want to persue a career in insurance but need a lot more training and support and am not sure what direction to take. Should i keep along the independent path and depend heavily upon a company i like where help and training is only available by phone or computer or go to a local firm where there are people, office, a physical support group and training. I just want to do this job the right way. Be knowledgeable, competent and be the type of producer i would want and feel comfortable buying from. Thanks for any help or insight.

 

[Newby]

New to insurance sales and completely lost. This is where i stand. I had to make a mid life career change and after sending out resumes one of the replies was from a insurance company which sounded promising and agreed to join in. I have recently got my state license now here's the issue. I will be an independent, use the company formula for sales and working straight commission, 60% to start. I will be required to buy a specific number of leads every week at about $25 each. Even though money is tight i can handle that for a while. The issue is most of the training and information is all online packets or by phone/internet. My mentor is over 200 miles away and there is nobody, agent or manager within 3 states of me. Any questions i have about anything i have to phone someone to get answers. I'm not looking for someone to hold my hand or do the work for me, but i can only read and reread the sales technique and lit and try to understand the products i will be selling so many times. My real life support base is very limited and do not really have anyone to practice on. Most of the others in the company live near a mentor or belong to a independent agency so they have a physical location or direct physical interaction with others in the business to talk/work with. I really think this is a good company with the chance to make a very good living, but by the same token i really think i need to be able to work with someone in person for a learning, training and experience standpoint. I really don't have any idea what i am doing aside from a basic knowledge of the products and following the presentation outlines. I was told the best way to learn is to get out there and learn from doing or mistakes, which everyone makes. But i really am not comfortable going out there and making mistakes because of what i don't know or lack of training, on people who are putting their future and trust in me and my knowledge of what i'm selling. Again, i'm not really sure what i am doing or the aspects of all the products. I am not afraid to go out and sell BUT i do not want to go into the field so unprepared or lacking. And i have expressed all these concerns to my mentor. I spoke to people who have said that being new and with no background in insurance, that going independent IS NOT the way to go. Even more so when there is no one from the company is ever physically near you for help or guidance and you have to depend phone or internet for everything. ( Is it reasonable to assume my mentor can/should take an hour out of his day, or more a week for training and going over scenario's?) Others say it's a prime spot for me being everything is open territory. All i know i want to persue a career in insurance but need a lot more training and support and am not sure what direction to take. Should i keep along the independent path and depend heavily upon a company i like where help and training is only available by phone or computer or go to a local firm where there are people, office, a physical support group and training. I just want to do this job the right way. Be knowledgeable, competent and be the type of producer i would want and feel comfortable buying from. Thanks for any help or insight.

You left out the most important detail in your incredibly long paragraph. Where are you?

Learning remotely is not bad if you have consistent interaction with your mentor. The worst thing you have going is horrible commission levels. You would have to be a superstar to make it at 60% commission. Most new agents start at 115%. That is the street level if you are selling simplified issue whole-life anyway.

Do some more reading here on the forum before you sign anything. Once you sign a 60% contract, they will NOT release you. They are preying on new agents that don't know they are giving up half of their own pay. And believe me, the training at 115% is better than you will get at 60%. 60% agencies are mainly churn and burn, multi-level marketing groups where they have the blind leading the blind.

Take a look at FexContracting.com and the other reputable agencies here on the forum. Just one night of reading will get you a LOT of knowledge.

And those private messages you are getting, those are the scammers trying to real you in. They smell new blood.

 

[GoPokes]

You left out the most important detail in your incredibly long paragraph. Where are you? Learning remotely is not bad if you have consistent interaction with your mentor. The worst thing you have going is horrible commission levels. You would have to be a superstar to make it at 60% commission. Most new agents start at 115%. That is the street level if you are selling simplified issue whole-life anyway. Do some more reading here on the forum before you sign anything. Once you sign a 60% contract, they will NOT release you. They are preying on new agents that don't know they are giving up half of their own pay. And believe me, the training at 115% is better than you will get at 60%. 60% agencies are mainly churn and burn, multi-level marketing groups where they have the blind leading the blind. Take a look at FexContracting.com and the other reputable agencies here on the forum. Just one night of reading will get you a LOT of knowledge. And those private messages you are getting, those are the scammers trying to real you in. They smell new blood.

I survived over 5 years at 60%, then I got bumped up to 65%. I'm a bad ace

 

[pcbinsurance]

You might have been an Ace but they played you like a Jack.

 

[mjmarcum]

I spoke to people who have said that being new and with no background in insurance, that going independent IS NOT the way to go.

Nothing wrong with going independent right away. What state are you in? There are pros on here that will help you get a good contract and even train you. Just because you are independent does not mean you can't get some training.

I'm sure you can find someone here that can help you get a better contract. Direct you to lead sources, help you with a presentation, critique your presentation, and let you ride along in the field and make a few sales.

It will be much harder for you to survive on a 60% contract and pay for their leads. Just a hint .. those leads might not be fresh or exclusive to you. There are better lead sources and with a higher contract you can use mailing house to generate your own direct mail leads.

 

[pfg1]

I would either find a solid mentor that can REALLY help you (preferably local to you if possible) or partner up with a company that has credibility and great training. (NY Life, etc) The key is getting trained right in whatever area you choose to work (Life, FE, etc). If you don't, you will likely struggle. Ask lots of questions here, some great folks with alot of experience.

 

[WinoBlues]

I would either find a solid mentor that can REALLY help you (preferably local to you if possible) or partner up with a company that has credibility and great training. (NY Life, etc) The key is getting trained right in whatever area you choose to work (Life, FE, etc). If you don't, you will likely struggle. Ask lots of questions here, some great folks with alot of experience.

That.

Personally I needed and would need today to see it done. However, Today's technology has the advantage of 24/7 access to training videos and instant contact with the mentor. A
question I would ask is how accessible is the mentor/trainer. Do they have 50 agents or 500 agents calling/texting/emailing them? Are those 50 or 500 agents time consuming newbies or experienced agents that require little time? If they are also producers that is current hands on experience but it may also mean limited time for their downline agents.