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In Reply to: Re: Re: Re: Re: Re: Re: rookie agent looking to get started posted by rookie on March 31, 2003 at 14:08:09:
: i'm just starting in the business. i decided to pursue my insurance license while dealing with the serious illness of a family member. in trying to manage her affairs while she was unconscious, i got a hard knocks education in life insurance, major medical, guardianship, disability income, cobra, hippa, 401k, etc.
: i took what i was learning from her hospital experience and combined it with a formal pre-licensing course.
: i recently received my certificate of authority but i'm not appointed with any company yet. that's why i'm asking for recommendations.
: can you recommend a good company(s) for a rookie like me?. i value my independence so i'd rather not contract with a company as a captive agent.
: also, being a rookie learning the ropes i probably shouldn't commit to specific production requirements.
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: : : i'm not trying to have it both ways. i said i'd PREFER the advanced commission. i didn't say i wanted BOTH an advanced commission AND a monthly residual.
: : : charge backs should be rare. if policy owners are consistently bailing out of their contracts during the first year then the agent must be the problem. that agent is not properly qualifying his prospects or he's not recommending appropriate coverage.
: : : by the way, what company do you represent?
: : : : : : : you mean commissions paid only after premiums are received by the comapny? i think i would prefer to be advanced an annualized commission based on the first year premium. isn't that a common arrangement?
: : : : : : Can you afford to live on the commission that is actually paid to the company? I mean that if you earn 75% commission, and a client pays $100 per month, you will receive $75 every month from him.
: : : : : : Can you afford to live getting paid like this?
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: : : : You can't have it both ways. When you are advanced, the company is loaning you money. What happens if the policy lapses?? You get charged back. What if you are no longer with the company?
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: : I represent about 30 companies, I am independent. I work without advances. How long have you been in the business? Do you currently represent anyone?
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: : : : : : can some of you veterans recommend a few good life companies for a rookie agent to get started with? i'm looking for companies that i can represent as an independent agent rather than a captive agent. thanks in advance.