New Missouri Agent Needs Advice to Get Started

[central_mo_insuranceguy]

Wow, this forum has been very helpful. I am in the process of studying for my life and health license exam. I am wanting to begin as a non-captive agent. I am good at sales, hard working, coachable, a learner, and motivated. I would like to know if I should start working under someone who owns their own independent agency or if I should try to get appointed with a company? Either way how do i go about the directions that you recommend and why do you reccomend that direction for someone just starting out. I do have some money saved to help with my career transition. Than you for all of your input. -Ryan

 

[VolAgent]

Step 1. Determine exactly what you want to sell, health, life, med supps, MA, what.
Step 2. Find a mentor in that field who will help you learn the business. Either work under the person so that they get an override or split commissions, or both. (Second hardest step)
Step 3. Get out there and prospect, set up appointments for you and your mentor. (If you want to be a phone agent, then set up conference calls). (Hardest step)
Step 4. Hold joint appointments, listen and learn.
Step 5. Return to Step 3.

There are some agents that make a great living buying internet, telemarketed, or direct mail leads. Most fail, but most fail regardless of how they get leads. Just make sure you follow whatever prospecting method your mentor uses. But if you can work with someone that can teach you to prospect for yourself, you'll never have a shortage of people to talk to.

 

[Frank Stastny]

Wow, this forum has been very helpful. I am in the process of studying for my life and health license exam. I am wanting to begin as a non-captive agent. I am good at sales, hard working, coachable, a learner, and motivated. I would like to know if I should start working under someone who owns their own independent agency or if I should try to get appointed with a company? Either way how do i go about the directions that you recommend and why do you reccomend that direction for someone just starting out. I do have some money saved to help with my career transition. Than you for all of your input. -Ryan

The answer isn't "cut and dry". It is going to depend on the type of insurance you want to sell.

One thing to be cautious of is assigning your commissions. I can't think of any sound reason for an agent to assign their commissions when selling L&H insurance. That is something I personally don't think any agent should do regardless of the promises that are made at the time of signing.

Most agencies I have seen require an agent to assign their commissions. Promises of leads and training usually end up being hollow promises with no real substance once the agent is contracted.

Training will be helpful but there are many avenues to learn the business without assigning your commissions and locking yourself into an agency. Assigning commissions also usually means settling for a much lower percent of commission.

 

[central_mo_insuranceguy]

Are there any carriers or imo that you would recommend for life insurance? i would like to sale med supplements then cross sale fe...

 

[Frank Stastny]

Are there any carriers or imo that you would recommend for life insurance? i would like to sale med supplements then cross sale fe...

I would suggest that you contact Nick Perry, 404-660-1020. He is one of the good guys and I think you will enjoy talking to him. He won't jerk you around.

I'd be glad to talk to you about Med Supp contracts if you are interested.

 

[VolAgent]

Frank is a class act, and while I've never dealt with Nick, I've only heard good things about him.

But I stand by my earlier advice. Now you know what you want to sell, you need to find a mentor who is going to hand hold you for a while. I don't care how much sales experience you have, unless it is insurance sales, you'll need some hand holding.

Make sure your mentor has time for you, and developed his book of business using the same methods he is going to teach you.

There are tons of people who are dying to contract you, but few will do anything that will contribute to your success.

 

[Frank Stastny]

But I stand by my earlier advice. Now you know what you want to sell, you need to find a mentor who is going to hand hold you for a while. I don't care how much sales experience you have, unless it is insurance sales, you'll need some hand holding.

Make sure your mentor has time for you, and developed his book of business using the same methods he is going to teach you.

There are tons of people who are dying to contract you, but few will do anything that will contribute to your success.

Your advice is excellent and I totally agree with you. He is in for a rough road unless he heeds your advice, not that it can't be done. Many of us started without the above and the first year proved quite interesting to say the least.

 

[VolAgent]

Your advice is excellent and I totally agree with you. He is in for a rough road unless he heeds your advice, not that it can't be done. Many of us started without the above and the first year proved quite interesting to say the least.

Definitely, there are plenty of people in this industry that made it without a good mentor. But there is 20 times as many that never made it past year one, and most didn't make it past six months.

This business is hard enough, do everything you can to tilt the odds in your favor.

The only thing harder than finding a good mentor is prospecting. As ol' Rick on TGP likes to say, prospecting is a contact sport. It isn't easy, but it does get easier with practice. Also, since so few do it, if you can do it, you will be successful.

 

[central_mo_insuranceguy]

Frank, where are you in missouri? I am close to columbia. i maybe interested in getting with you about med supplements. can u tell me more about what you do? how long you have been doing it? your marketing strategy, etc. thank you...

 

[Frank Stastny]

Frank, where are you in missouri? I am close to columbia. i maybe interested in getting with you about med supplements. can u tell me more about what you do? how long you have been doing it? your marketing strategy, etc. thank you...

I live in Fulton. Been at this for over seventeen years.

It will be a whole lot easier to discuss this if you will give me a call. My number is below.