I Feel Like Crying !

[cvoorhees]

[COLOR=red]
I feel like Crying, after all the research I've done, and talked to agents. I got some advise from my Dad. He said Do Not get into the insurance business. It is a hard business, and it'll take you years to make money. You'll spend hrs getting hung up on, going door to door, cold calling, and getting little if any business. There are more people selling insurance , than buying it.
Unless you can get with a insurance co that will pay you while in training, and help you get your license , that way you won't be out too much money, and won't starve. He advised me strongly against it. Getting business is hard, even over the internet.....

[Elizabeth Souther]

My Dad too told me not to get in the insurance business. He was a hard core manufacturing guy. The two job offers I had were from Black and Decker as a sales rep at 18,000 a year and a K car ( it was few years ago) and a comission only job at an insurance comapny. The dog and I had to alternate whos' day it was to eat for a few years.

Today I own a very successful P&C shop with offices in New York and Southern California, have more money than I will ever need, take ten weeks of vacation a year and make it to every single field trip, play and PTA meeting that my 11 and 13 year old can throw at me...because i'm my own boss.

I am able to sell 2,000,000 a year of new PC business because of the contacts I have made over the years and I love my job more than any other person I know. I work hard, play hard and have built an asset that my kids can enjoy.

My Dad actually told me that he would rather I told him I was gay than becoming an "insurance salesman" Black and Decker went into chapter 11 eight months after my job offer and fired 90 % of their sales force.

Dad's mean well... make your own decision.

[independent guy]

Not making sales isn't my problem, its not getting the commission for them... I don't know what your dad did, but something doesn't sound right from the sounds of things.

[cvoorhees]

Thank you for the encouragement, My Dad was in the Manufacturing/Industrial Sales Market for over 30 yrs . He then got his realtor's license and became a broker. He says insurance is a tough sell to make a living from . He told me I would do better working at the Walmart here in town, at least I"d be closer to home, instead of continuing to make the long distance commute I've been making for almost 4 yrs now. I just can't imagine working at Walmart for a career change, give me a break, I want something more than that.

[sanddog]

Dude, you need to join and insurance cluster, I'm sorry but your not going to make it any other way.
Your only other possibility is a direct write like allstate state farm or farmers. I have been a broker for 16 years, owned two agency sold and join a cluster. The smartest decision I ever made, I have never loss a piece of business do to premium. I rewrite business from all three direct writers.
I mostly deal with commercial, don't waste your time with personal lines, if you can avoid. there you have it

[cvoorhees]

I hate to sound ignorant, but What is a Cluster ??
And Commerical would be better, than individual policies....??
PLease explain working for someone like Allstate, Farmers, one of the bigger guys . I've been looking at a insurance co, that deals with supplemental, its' called United American....

[sanddog]

I already responded to your question, concerning UA, see the post on your post. Cluster? Are simply large and small groups of agencies they have band together to have more written premium clout. (other then direct writers SF, allstate, farmers, aaa or as we say street corner agents). It cost to join from $5000 to 20,000 life time, plus monthly dues. Many Many advantages you get profit sharing you access to markets that the directing writing agents only dreams about. All of these carriers and many more require 150,000 written premium per year. You must have extensive back of the insurance world to be excepted in the large groups. Agents like the above only know one business model the company they work under. They can lose their appointment at any time, they are not brokers. They are simply and agent of the company. We are broker's in the true sense with integrity, I am not saying there are not good corner agents, 95% do not know the Insurance market. We DO NOT write everything that comes through the door. You can't get access to Hartford, Travelers, Chubb, Safeco, Allied, Financial Pac, CBIC, Zurich, funny farmers agents can't even get access to their parent company do to poor understanding of the insurance market place. That came from my rep for Zurich. I could mention hand full of WC carriers. You could also try Safeco and Allied for a captured company I would take they any day over Allstate and farmers. Good luck I'm done

[PCorathers]

With Family like that who needs an enemy. :angry: Is he negative about everything? Your Life is what YOU make of it, if you succeed or fail. Every profession or job has it's problems. Hard Work? YES! but you will not succeed at anything without it. He is a real estate broker 90% of real estate sales people fail. Talk about a "hard" profession. I do sell both insurance and real estate. I would say that 80% of the RE agents make less than $5000 a year. They are lucky to make one sale in year. Those that are successful have to work hard at it. Insurance profession is great. You can make a good income. It all depends on you! Do what you want to do and tell your dad to go take a hike! I would cry too if I had a dad like yours! :angry: :angry: You need someone it your life to tell you that you can succeed not to find fault and all the negatives!

[independent guy]

<!--QuoteBegin-cvoorhees+Apr 11 2005, 02:36 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (cvoorhees @ Apr 11 2005, 02:36 PM)</td></tr><tr><td id='QUOTE'><!--QuoteEBegin--> He told me I would do better working at the Walmart here in town, at least I"d be closer to home, instead of continuing to make the long distance commute I've been making for almost 4 yrs now. I just can't imagine working at Walmart for a career change, give me a break, I want something more than that. [/quote]
Man, if my parents made a comment like that to me, I'd visit them a hell of a lot less... I'd be mad as hell! You can definately make money as an agent, but its getting over the "hump" that makes the difference. When you start ANY business, you aren't going to start making money right off the bat. A friend of mine opened a martial arts school a few years ago, and it took him 5 years before he was out of the red. However, he'll be out of the red permanently if he's smart, because he no longer owes the bank anything. I hear this "complaint" from other newer agents, that they want it all, and want it now. It just takes patience, hard work, and determination. And smart business decisions.

[NorthridgeIns]

Reading through this thread, I think you need to remember that in a way there are a couple of different breeds of insurance sales types. (I know you can mix and match the combinations differently, but this makes a good start). I am using common conbinations because of the different licensing authorities.

First group is Life & Health. This categories include individual health insurance, individual life insurance, long term care insurance, annuiities, and the various forms of group benefits. Most of the people, I know in this category are independent brokers, placing business where ever is the most appropriate for the customer. There are a few L&H companies that utilize captive agents and direct writers, but IMHO these companies' products have a lot to be desired. (I worked with the L&H direct writer your mentioned, and I they are a classic example of this). If you have to be an L&H agent, getting company appointments is easy, but making a living is difficult and painful. Individual health policies have a very short persistency (my average was about 5.5 months) and the it general takes about 3 to 4 months of renewals to pay for the cost of aquiring that customer. Don't get me wrong, I know guys that do very well as L&H agents, but it has taken them YEARS.

The other group is P&C agents and there has been a lot of discussion about this group already. It is a harder business to get into, but it is a bit more profitable.

I personally started out as an Individual Health guy and over the course of two years, I have transitioned to primarily a commercial lines P&C agency. I still get a few renewals from my original L&H customers, but I do not actively market for L&H business. I write group benefit packages (or the occassional HSA) for my existing Commercial P&C customers and the owners. My experience with personal lines P&C is that it is a little better (not much though) than Individual Health. (Any personal lines business I write is to accomadate the needs of the CL customer.).

Northridge

[cvoorhees]

But I have to make a living, I can't wait yrs to make a decent income. I have a mortgage, bills, etc....
I guess what I'm asking, is will I make a livable income till I get to that point....??
What is the best way to go about getting my license, going online and taking the course thru license 2 go. then take the state test....?

[92builder]

I guess when I read these posts from ppl wanting to be agents in CA but afraid of starving to death, all I can think of in my head is that you're all putting up a shingle in L.A. and knocking on every door you see. TAKE A STEP BACK AND A DEEP BREATH!!!

Here's the deal. Name me a profession that allows you to live your life that isn't hard. Before you go down this road, you need to have some very serious discussions with your friends and family. First, ask them if they would buy from you. If you can't even sell your parents their own policy, this may not be the job for you. I, on the other hand, do not want my parents' or my brother's policy, but that's a personal issue. If you ask any agent who's been "over the hump", he/she will tell you this is the best job on earth. You need to figure out if you can make it to the hump. You know, I'm trying to sell insurance too, but I've had to drive an ice cream truck and cook pizzas while waiting on commissions...

If this truly is your passion, you'll find a way to not starve.

[robmejia]

Try to maintain a positive attitude. If you think you have what it takes to succeed in the career you chose, chances are you'll do well in it.

[JAM]

what ever you do don't join Farmers, or State Farm. If I had to do it all over again I would get my licesne and go worj for an agency while gaining experience. running an agency it a big headache. If you are a good producer have the firm handle the business side and you just go sell. thats my $0.02