Insurance Agent Forum

Im wondering if i have to re license myself for mich or if I can use my ohio license?

I'm a student and it might help if you tell me about resolving a claim
dispute. Should I invite an attorney?

What insurance products do you sell?

can anyone give me a general idea about purchasing a book of business for Allstate? How does the financing work? How much can someone get approved for? The book we are thinking of buying is 1.65 million in premium and is being sold for $425,000.

How long do people typically finance for ten? fifteen years? and what percentage point of interest would I be looking at?

What are some constraints that an agent has when selling life insurance products? Example, Time etc.

On average how long does it take to fully explain each life insurance product?

Term Life
Whole Life
Endowment
Variable Life
Universal Life
VUL
Annuity (Fixed)
Annuity (Variable)

*If I have left out any major life insurance product please let me know

Thanks for answering all my bizarre questions on this forum

I'd like to satrt a discussion on bancassurance...

In the US bancassurance only accounts for 2% of the life insurance market but in Europe it averages 30% with wide variances per country...

In the varying bancassurance models, the joint venture type of ownership...Do the banks also underwrite the insurance along with the insurer? WHat are the specifics of this kind of ownership?

One of my agents came to me very upset the other day and said that he was being forced into bankruptcy. Although I didn't want to pry too much, I did need to understand why and I must say that it legitimately is out of his control. He is going through a divorce and his wife has filed for bankruptcy. Being that most of their debts are joint, his only other option is to take all the debt upon himself which would be financial suicide.

Why do some insurance company hire an agent as a captive sales agent. The agent can only work, and sell that company products, and the company controll the business that the agent sell. The agent get terminated and finds out the company, said that the agent was a captive sales contractor, with no wages reported to the Department of Labor, so she can not received unemployment benefits payment. Is this true, if not what could she do to receivec her benefits payment

I'M starting an independent insurance agency that will focus primarily on Final Expense and Life insurance. I have got contracts with carriers that have Final Expense telesales. I'm Looking to partner up with motivated independent agents nationwide who would like to start their own agency. To start off, i'm offering 107.5% commissions on final expense with $10,000 AP per month. Also Offering 12 month advance. As far as leads, i would encourage you to use your own lead source, and I will reimburse you up to $10 for every sale.

An interesting discussion surfaced this morning, and I thought I'd share the debate here. A friend, also an insurance agent, just bought a Porsche and has begun driving it now that the weather is nice. He normally meets clients at their home, rather than at the office...so they usually will see the car he is driving.