What to do to sell Insurance?

Question

After you get your license:

1) How do you go about contracting with an insurance company?

2) Can you sell for different Insurance companies?

3) Are there any costs involved?

Answer 1

1.  well, that's the hard part, isn't it!!  You'll have to sell yourself to them. Convince them that you're able, capable, and willing to put on six figures of business the first year.  You'll likely have to call in favors or what not.

2.  It depends.  There are two ways to go - it's EASIEST to get appointed with a captive carrier - like State Farm, Allstate, Nationwide, Farmers.  But then, your contract with them will say you agree to not sell for any other company.  It's much, much harder to get a contract that allows you to sell for different insurance companies.

3.  In order to get an appointmetn, you'll have to have general liability and professional liability coverage in place.  Besides that, the only costs would be for office equipment - postage meter, copier, filing cabinets, printer, paper, etc.

Answer 2

1) Only through experience & a committment to give them a certain level of premium dollars. Most ahve a requirement for a premium volume that you have to commit to.

2) yes, if they are willing to give you an agents contract

3) no costs, just a commitment level that you will achieve.

Answer 3

Many brokerage agencies would be willing to set you up with a number of contracts with different companies and do most of the back-office work for you while you learn more about the business.  A good brokerage relationship (or a few) is worth a lot.  Try contacting an agency near you from the National Assoc. of Ins. Life Brokerage Agencies.  You can search by state:

http://www.nailba.org