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 Posted: Tue Apr 21, 2009 4:00 pm Post subject: Hello from Louisiana |
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I'm a life and health agent in Louisiana who has been a captive agent in the past and is now independent. My main focus has been the Senior market and Medicare Supplements as well as Medicare Advantage and Part D, but I am looking to expand into life and eventually LTCi, possibly annuities, etc.
I look forward to learning some things here and contributing when able. |
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Pilgrim
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Joined: 18 Apr 2009
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| Posted: Tue Apr 21, 2009 5:08 pm Post subject: |
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welcome to the community pilgrim
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"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr. |
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Lori
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Location: Missouri
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| Posted: Tue Apr 21, 2009 5:15 pm Post subject: |
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Pilgrim welcome to the community!!!! 
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www.Parthaconsultancy.info
Its my personal website. |
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amit
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| Posted: Tue Apr 21, 2009 8:59 pm Post subject: |
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Welcome "Pilgram"
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Do the right thing because it's simply the right thing to do.
Todd R. King
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TRK3031962
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| Posted: Wed Apr 22, 2009 5:35 am Post subject: |
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Welcome to the community Pilgrim  We are really glad to have you amongst us. Hope you'd stick with us for a longtime to come.
BTW, you may share with us your experience while switching from captive to independent. Was it hard? |
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RupertWBradson
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Joined: 05 Jul 2007
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| Posted: Wed Apr 22, 2009 1:10 pm Post subject: |
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My experience was different than most, I think, especially when I first went independent. I went under a MGA and for the first year was able to get company leads for the MA plans I was selling because the company didn't have enough captive agents to run all of the appointments. I didn't have time to run all of the leads that were available to me either. Not a bad situation to be in!
I have since moved to another part of the state and have had some health issues over the past several months that have hindered me from doing much work at all, so I'm looking to get reestablished at this point. Also, if I would have stuck with the plan instead of getting sidetracked into other career opportunities, I might be further along than I am now. |
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Pilgrim
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| Posted: Thu Apr 23, 2009 7:02 am Post subject: |
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Hi Pilgrim, we often receive concern from the agents planning to switch from the career of captive agent to the life of independent, where they find it hard to pick the right companies to get engaged with. Since, you have already gone through that phase, you’d be able to offer some guidance to them.
It’d be better if you share with us about the aspects that you looked into while deciding upon the company you would sell the policies for.
Thanks,
Rupert |
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RupertWBradson
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Posts: 703
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| Posted: Thu Apr 23, 2009 1:48 pm Post subject: |
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Rupert,
I think there may be some miscommunication here. Since I am an independent agent, I represent many companies, not just one.
When I first went independent (the experience I described in my previous email) I was continuing to write business for the same company that I had previously been a captive agent with, but I no longer focus on that product (Medicare Advantage.) I have had some difficulty getting established as an independent agent, but with the health issues I noted, my situation likely is different than most.
With regard to what companies to represent, I'd recommend getting contracted with all of the major carriers in the state for the markets the agent is looking to get into i.e. individual health, Medicare Supplements, life insurance/final expense, LTCi, annuities and so on.
Typically I've also found that successful agents contract directly with the carrier (or through an IMO, who often offer higher commissions, but nevertheless the agent submits their business direct to the carrier) and have commissions that are 100% vested from day one.
There are a lot of companies that offer leads in exchange for reduced commissions, etc. but in my opinion those types of opportunities are tantamount to a modified captive arrangement, and one without the benefits of being captive e.g. no benefits, car/cell allowance, salary, etc.
Often these agents find themselves in debt to the marketing organization.
Most successful agents I have known (successful here defined as long term success) are truly independent agents who do their own prospecting and have been able to obtain top level contracts. |
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Pilgrim
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Joined: 18 Apr 2009
Posts: 4
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