Insurance agent needs agency?

Question

What are some questions to ask when looking for an insurance agency to sell insurance? And..do different g.a.'s offer more commission then others? Do they have the legal power to keep a certain amount that you earn? How does it exactly work when you join an insurance agency working for a broker. Thank you for only professional honest answers.

Answer 1

This depends on what lines of insurance you are licensed to sell.

If you are licensed to sell Life, A&H, P&C, why not contact a company like Nationwide, State Farm, Liberty Mutual, Met Life, etc. I guarantee that your commissions will be more than working for an agent if you can get an agents contract.

After you get some experience, you might want to open your own agency.

If you are experienced, and if you are just wanting to sell Life and Health, you can get G.A. contracts from different insurance companies. You can work out of your home, and then as your agency grows, open an office, and contract agents to sell for you.

Here are a few to check out:

United American, Motorists Life, Columbian Financial Group, American Fraternal Union, Golden Rule Insurance, Assurant Health, Mutual of Omaha, Allianz, Monumental General Agency Division. (Not in any particular order)

If you want to be an employee agent, with all the benefits that goes with it, check out these companies:

American National Insurance, Prudential Ins. Co. of America, New York Life, Monumental Life, Met Life, Liberty Mutual,

American General (AIG), Woodmen of the World, Modern Woodsmen, Equitable of New York, Massachusetts Mutual. (Not in any particular order)

Best wishes, and God bless.

Answer 2

1st response was good, but you also may want to ask how bonuses are split.  A lot of the companies we have where I work offer bonuses at the end of the year based on low claims percentage.

Answer 3

Well, you want to know what's included, for your commission split - office space, telephones, postage, csr's, etc.  

Since you're using THEIR contract, legally, they can keep 100% of the commission.  

Typical splits usually add up to 100% - 50% the first year, 50% renewal commissions, or 60%/40%, or 75/25, that type of thing.

Answer 4

I work for United American and they are a great company. It is commission work as well but its well worth it. Are company is Nationwide and our policies are actually accepted nationwide as well. Any doctor, and hospital, any state. I love it. I'm located in Ky but if you'd like, depending on where you live, I can set you up with a local branch office near you. Just email me.