Insurance career question?

Question

how much would i get for a basic policy on life? what are leads and how can i get them

How many companys can i represent at once?

wisconsin

Answer 1

If you go the career route which I suggest for new agents. You will only represent the company that hires you, such as New York Life, Met Life etc. If you become a broker you can represent dozens of companies. New agents should seek out the career system so they can obtain the training and mentoring needed to survive in a business that has 80% of new agents fail in the first year.

For example life leads are created by companies that send out mailers to people that just bought a home or just had a baby, these prospects return a card from the mailer asking for an agent to contact them. The insurance agent buys these leads for anywhere from $5 to $20 each and contacts the prospect in hopes of closing a sale. Leads can also be generated by websites and the lead company will e-mail you contact information for people looking for insurance quotes.

Answer 2

Well, starting out you usually get appointed by ONE company.  You usually can't write enough business to keep more than one company happy.  

Leads are potential sales.  Most of the time, you get them by making 200 cold calls - out of the phone book, to strangers - each day.  It's HARD.  It takes a long time.

Commission on life insurance policies vary - it's a percentage of the first year's premium - it can be anywhere from 50% to 100% or even more, for the ripoff types of insurance.

**I think insguy is being generous.  I think about 95% of new agents wash out.**

Answer 3

Yes, listen to insguy. Leads are expensive to buy them, and then there's no guarantee on the quality of those leads. Working with a company as a captive agent to start will give you the support you need--not only from a training standpoint, but also from an earnings standpoint, which will be a great help because you're going to be on a full commission schedule. It's helpful to get a little cash from them to learn while you earn, so that you can become more independent in the contract. It's a hard business ... you will need to  handle rejection well, and please ... don't make the rest of us look bad: be ethical!

Answer 4

Commission on sales of insurance is usually commensurate with your experience.



     The worst thing you can possibly do is 'trap' yourself into 'one company'.



     NEVER become 'CAPTIVE'...always stay Independent...Why build a book of business for someone else when you can start and own your own for yourself from day one??

     Many newly licensed agents do not know that they can start building their own agency right away.

     The 'old school' agents still believe that you have to 'prove' yourself to 9-5 office job while you make money for the agency owner.  

     We educate our agents that it is better to be appointed with a variety of carriers in order to be able to do what is right for your client 100% of the time... How would you be able to do that with ONE company??? You can't do it!

     As to commission, yes you can receive from 25% to 110%...and as to the 'ripoff insurance' companies mentioned earlier...that would be the 25% bracket.

     About leads...we teach that our agents produce their own leads, because buying leads only makes money for the lead company. But first you need to know what to do with a 'lead' once you get one.  And that's where training comes in.

     As I said before it is best to get appointed with a variety of carriers so you have a good variety of products in your portfolio. Of course you want to choose the carriers with higher ratings to ensure that your clients are secure with their investments in their futures.

     A career in the Insurance and financial industry is a totally recession proof choice of careers.

     The main reason 3 out of 4 agents quit is the lack of education and training from their companies they represent.

Pick and choose your companies as to the training and education they provide.

     Our agents are in training and education session 3-5 times weekly. We insist upon it....and thus we have a very successful agency.