New life accident and health agent

[Dave Schrock]

Greetings,

My name is Dave and about two years ago I decided to embark on a new career path for retirement, (I don’t like that word). I spent 25 years as an engineer and the last 15 years in sales for energy efficiency companies. It took me two years to make the move but that’s another story probably more suited for Dear Abby.

I’m a current life accident and health insurance license holder for California and I’d like to be an independent agent rather than work for a company but am open to either. I’ve been lurking on this forum and reading about joining a Cluster to help build a business. Is that a good way to go or would I be better off working as a producer for a broker since I have zero insurance experience? I have plenty of start-up cash so I’m not worried about the financial end if it takes a while to get business moving. I also have plenty of drive, energy and I love selling.

I spoke with the folks at my local Aflac office and to Farmers but I don’t think either one of those would be a good fit for me.

Thank you in advance to any advice you can give that will help me in this transition.

Also, hello everyone I love this site. I came across it one day just searching the web for info and it is by far the best thing ever for knowledge of the insurance field. Thanks to the the people that put together something special and to everyone for their time and effort into the great wealth of knowledge.

All the best,
Dave

 

[rousemark]

The first thing you need to decide is what facet of the business most attracts you? What kind of people do you most like dealing with? There is a world of difference between Farmers and AFLAC.. Do you think you want to work P&C, Life, Health? Once you have made that decision, you may want to define down a bit more... For example in life.. High Net Worth,Business, Blue Collar family, Final Expense, etc.... Once you have done that, then someone on here can probably give you some direction.... Just remember, as a general Rule the life insurance business is no different than the medical profession.. Specialists tend to make more than Generalists..

 

[Life Hawk]

Hi Dave, welcome to LIFE. Recently joined this site myself. If I were not already settled into my ways, I would peruse the threads and get a fill what might interest me. Then you might want to make connections with others for feed back that would help you better understand the market you are looking at.

Word of advice... sales is often tied into how well you can handle rejection without taking it personally. A struggle for some, (including me) but if you can get past that and work hard to understand your product and your market... then it's all about seeing the people.

Let me wish you the best!

 

[Dave Schrock]

The first thing you need to decide is what facet of the business most attracts you? What kind of people do you most like dealing with? There is a world of difference between Farmers and AFLAC.. Do you think you want to work P&C, Life, Health? Once you have made that decision, you may want to define down a bit more... For example in life.. High Net Worth,Business, Blue Collar family, Final Expense, etc.... Once you have done that, then someone on here can probably give you some direction.... Just remember, as a general Rule the life insurance business is no different than the medical profession.. Specialists tend to make more than Generalists..

Hi rousemark,

I live in a town that has a high number of retirees and am leaning toward starting out with FE. Just trying to decide if that would be enough or if I should look at MP or other products as well.

Thanks for reaching out.

All the best,
Dave

 

[Dave Schrock]

Hi Dave, welcome to LIFE. Recently joined this site myself. If I were not already settled into my ways, I would peruse the threads and get a fill what might interest me. Then you might want to make connections with others for feed back that would help you better understand the market you are looking at.

Word of advice... sales is often tied into how well you can handle rejection without taking it personally. A struggle for some, (including me) but if you can get past that and work hard to understand your product and your market... then it's all about seeing the people.

Let me wish you the best!

Hi Life Hawk,

I like your user name. I've been in sales for years and have a cast iron hide so rejection is not a problem for me. My goal is to work hard to understand what I'm going to be offering and my market so I can be successful.

Thanks and all the best,
Dave

 

[rousemark]

Hi rousemark,

I live in a town that has a high number of retirees and am leaning toward starting out with FE. Just trying to decide if that would be enough or if I should look at MP or other products as well.

Thanks for reaching out.

All the best,
Dave

The FE demographic is considered to be ages around 60-80 with incomes less than $50K... How many in your town fit that description? Are you willing to work surrounding areas? I have always worked a 50 mile radius from where i live.. How are you going to contact these people? Most of the FE big hitters elect to buy Direct Mail leads.. As for other products, it is usually best, especially in the beginning, to take one you like and run with it run til you become proficient in selling it. Then you can consider if you want to add something to cross sell your clients.. I am not an FE specialist but I am sure there will be some along that can post more detailed advice to you...Also, if you have settled on an IMO or upline to work with, you might consider some of those on the forum. David Duford, rearden on the forum, Final Expense Mentor would be a good person to contact. So would FEXcontracting. or maybe one of the others.

 

[rousemark]

The FE demographic is considered to be ages around 60-80 with incomes less than $50K... How many in your town fit that description? Are you willing to work surrounding areas? I have always worked a 50 mile radius from where i live.. How are you going to contact these people? Most of the FE big hitters elect to buy Direct Mail leads.. As for other products, it is usually best, especially in the beginning, to take one you like and run with it run til you become proficient in selling it. Then you can consider if you want to add something to cross sell your clients.. I like the specialty health market and am not an FE specialist but I am sure there will be some along that can post more detailed advice to you...Also, if you have settled on an IMO or upline to work with, you might consider some of those on the forum. David Duford, rearden on the forum, Final Expense Mentor would be a good person to contact. So would FEXcontracting. or maybe one of the others.

 

[Todd King]

Hi Life Hawk,

I like your user name. I've been in sales for years and have a cast iron hide so rejection is not a problem for me. My goal is to work hard to understand what I'm going to be offering and my market so I can be successful.

Thanks and all the best,
Dave

Hi Dave, and welcome to the Forum!

I can't tell you which market you would do better in, but two things did catch my eye. The sentence above and that you said you were an engineer for many years.

Because we are an IMO, I've had the opportunity to see many engineers come over to insurance sales over the years. Some make it and some don't. One thing that most engineers have in common; they certainly know how to break something down to be able to understand it. It may actually take you more time to do that than the other guy, but you'll probably break it down more thoroughly in the end. The problem lies with "the end". I find that many engineers just never reach the end. In other words, they are very good at analyzing, but not necessarily making the next move. They get into analysis by paralysis and end up getting out of the business that they never actually started.

There are so many things in this business that you'll never understand and won't even run across until you get out in the field and put some action to it.

Yes, learn, learn, learn....but go do, do, do! Just a piece of unsolicited advice.

 

[Dave Schrock]

The FE demographic is considered to be ages around 60-80 with incomes less than $50K... How many in your town fit that description? Are you willing to work surrounding areas? I have always worked a 50 mile radius from where i live.. How are you going to contact these people? Most of the FE big hitters elect to buy Direct Mail leads.. As for other products, it is usually best, especially in the beginning, to take one you like and run with it run til you become proficient in selling it. Then you can consider if you want to add something to cross sell your clients.. I am not an FE specialist but I am sure there will be some along that can post more detailed advice to you...Also, if you have settled on an IMO or upline to work with, you might consider some of those on the forum. David Duford, rearden on the forum, Final Expense Mentor would be a good person to contact. So would FEXcontracting. or maybe one of the others.

Thanks again for the additional information. Plenty of people on my area fit the demographic for FE and yes I am willing to travel. I've also been pouring over the lengthy FE thread written by David Duford and have read many of the other threads on the subject as well. Cross selling clients is what I was considering.

I'm also enrolled with Covered California to become an agent for them. Not sure what that will get b=me other than some worthwhile training. I'm taking my time in hopes of making a decision that is as close to the right one for me as possible.

Thanks again,
Dave

 

[Dave Schrock]

Hi Dave, and welcome to the Forum!

I can't tell you which market you would do better in, but two things did catch my eye. The sentence above and that you said you were an engineer for many years.

Because we are an IMO, I've had the opportunity to see many engineers come over to insurance sales over the years. Some make it and some don't. One thing that most engineers have in common; they certainly know how to break something down to be able to understand it. It may actually take you more time to do that than the other guy, but you'll probably break it down more thoroughly in the end. The problem lies with "the end". I find that many engineers just never reach the end. In other words, they are very good at analyzing, but not necessarily making the next move. They get into analysis by paralysis and end up getting out of the business that they never actually started.

There are so many things in this business that you'll never understand and won't even run across until you get out in the field and put some action to it.

Yes, learn, learn, learn....but go do, do, do! Just a piece of unsolicited advice.

Thanks, Todd.
I've ready many of your posts with great interest. I'm not one of the engineers that analyzes things to death. I'm usually the opposite. Since I'm changing careers I want to make sure I choose something that will work for me before jumping into it. I'm more or less retired but still want to do something. Partly because I enjoy working and a having also having an additional income stream will help as well.

Thanks again and I will keep your company in mind of I decide to go the IMO route.

All the best,
Dave