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I'm thinking about becoming an insurance agent... a couple questions..

geckojohn

Diamond Member
Hey, I'm thinking about becoming an insurance agent and i've already gotten my license for P&C but i still need to take the test for my life insurance license. I'm thinking about working for Farmers or State Farm. Does anyone know any Farmer's agents? I'm really considering Farmers, but i'm not sure if you can make that much money. I know that State Farm agents can make a lot of money, but it's really competitive to become a state farm agent and they don't have that many openings right now. What do you recommend?
 
PM me and I'll answer any questions you need to know.

I'm a registered representative for MetLife / New England Financial ( http://www.nefn.com ) and work as a detached agent in a family business. I also have Series 6 and 63 securities licenses, and plan on doing my Fire/Casualty later on.

I would definitely look at working for a company that has 1) Stability, 2) Resources, 3) Training, 4) Startup program (i.e. stipend for new agents).

The stipend, at my company is called the Jumpstart program, and is great for new agents as they get some measure of steady income as they build their book of business.

Keep in mind that you are basically stuck with selling the products offered by the company. The more products the company has the better your chances of finding something that your client needs. With my situation, I have most of MetLife's products at my disposal but I can also sell through any one of 60 other affiliated companies once I get the correct appointments, without filling out an outside business form.

Also, a wide range of product types is important, because it helps you define your niche. The best agents I know are all specialized in one type of insurance or another. The most successful ones are in group (medium-to-large) health, disability, long term care, annuities, and estate planning.
 
If you can inherit a good book of business from a retiring/resigning agent....that would be your best case scenario. Starting a new book from scratch or inheriting someone elses crappy risks is not so good a scenario.
 
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