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 Posted: Tue Mar 31, 2009 6:40 pm Post subject: help deciding between insurance fields L/H or P/C |
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| Hi I'm new to the site. I wonder if someone could give me a little difference in opinion about becoming a new agent. I would like to become a P/C agent but people are leaning me towards becoming a L/H agent. Would anyone like to talk about it? |
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Bubbarachee
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| Posted: Wed Apr 01, 2009 9:47 am Post subject: |
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| I think its important to know where your interest lies. When there are many successful life and health agents, there are many successful P&C agents too. However, a life and health agent would make more money as commission than their P&C counterparts. Also, a P&C would sell more policies than the L&H agent. IMO you can choose either path but find a good company offering good training to get associated with. Proper mentoring is required for an aspiring agent to grow as a successful agent in the future. |
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JeremyHolter
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| Posted: Wed Apr 01, 2009 10:05 am Post subject: |
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As Jeremy has stated you can start either way and gradually can develop skills in the other field to venture out. The following are the couple of factors that attract newbie agents towards the P&C line.
- Its almost a state mandated requirement- the auto and home owners would be needing auto and HO policies respectively to keep their assets protected. Therefore, it offers larger marker as compare to the L&H line.
- The government’s policies are likely to affect the L&H line more than the property and casualty insurance industry.
- If you decide to go independent then you may be able to offer policies from different companies to the client. And, people frequently shop around for better rates in their auto and home policies.
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jeorge
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| Posted: Wed Apr 01, 2009 12:53 pm Post subject: |
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Hi friends..
| Quote: | | The government’s policies are likely to affect the L&H line more than the property and casualty insurance industry. |
Jeorge, don't you think that the government policies would indirectly affect the P&C industry (in the same way) as they would directly affect the L&H industry?
I'd agree with Jeremy that he'd shine working more towards his own interest areas. At the same time I'd suggest that he works as a 'captive' agent for a couple of years in order to gain in more expertise and build in a good network of clients.
BarbieL
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Guest
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| Posted: Wed Apr 01, 2009 1:38 pm Post subject: |
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| Thanks for the different views guys. I stil have a few more questions for you. I would like to start off doing it part time is that possible or would i have to devote all my time to becoming a successful agent. Also if i were to become a P/C agent could i start a independent business from home easier than a L/H business? Which possesses the most problems for a new agent in your opinion? |
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Bubbarachee
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| Posted: Fri Apr 03, 2009 11:52 am Post subject: |
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P&C is a hard business to do starting off. You need back office support from almost day one. L&H would be quite a bit easier to do from home.
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TRK3031962
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| Posted: Fri Apr 03, 2009 1:54 pm Post subject: |
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You have a lot of things to weigh here. With property and casualty most of the agents I know that do that have better luck working out of a walk in office because most of these products are required by law so that people who need auto, homeowners, and business liability are much more likely to come looking for you.
With Life and Health it is much more the matter of you reaching out to potential customers and educating them on reducing their risk exposure by having health insurance, life insurance, annuities, etc. It is easier to operate from your home office doing this because not as many will come to you. The potential payout for these types of policies tend to be higher though.
The approval process seems to be a lot more complicated with life and health products because of underwriting requirements but if you are knowledgeable about your carriers underwriting requirements that should be no problem.
In my opinion you should look at getting both licenses, what would it hurt?
I have several good friends that do both but concentrate primarily on one or the other, and just pick up referral business on the one that they do not primarily concentrate on. This kind of keeps them from being a jack of all trades and master of none.
Thanks
Mac
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beatuplunchbox
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| Posted: Mon Apr 06, 2009 8:05 pm Post subject: |
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| Thanks for the great explanation beatuplunchbox it really helped me. I think i will take some time to see which best suits my lifestyle. Thanks everyone for your opinion on the subject it all will be taken upon consideration in my decision. |
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Bubbarachee
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| Posted: Wed Apr 08, 2009 3:06 pm Post subject: |
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Hi beatuplunchbox,
| Quote: | | I have several good friends that do both but concentrate primarily on one or the other, and just pick up referral business on the one that they do not primarily concentrate on. |
I guess it's easier picking up referral business through the latter once the agent is confident of the one that he's focusing on.
| Quote: | | In my opinion you should look at getting both licenses, what would it hurt? |
Why not one at a time, would it hurt? 
Roddick |
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roddick
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