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I recently interviewed with an insurance company that, if they offer me a position, require that I pretty much pay for the training materials, licensing and a background check before I will even be getting paid. I have to go through a big process including getting licenses (which that part I understand) and then sell a number of policies before I am a "career agent" and will be paid other than commission. So there is no base pay until that point....
From what I understand I would be my own agent and could sell my book of customers if I ever decided to leave the company. I just don't understand the whole investing several hundred dollars without even getting paid. This is a nationally recognized insurance company but it just seems weird. I'm getting to the point where I just need a job. So is this fishy to anyone else? I just don't want to bother if I am wasting my own money and time.
My husband did this for awhile. Passed the exams, got his license and then the promised leads dried up. This job will cost you money unless you have a load of contacts in your pocket already.
My husband did this for awhile. Passed the exams, got his license and then the promised leads dried up. This job will cost you money unless you have a load of contacts in your pocket already.
Yes, the nationally recognized companies do it!
That's what I seem to be reading a lot of online...I don't know anyone since we recently moved to the area here (out of state from where we are from) so I don't even know if I could get leads. I'm considering just skipping it since it's going to cost so much just to get started AND i won't get a paycheck.
That's what I seem to be reading a lot of online...I don't know anyone since we recently moved to the area here (out of state from where we are from) so I don't even know if I could get leads. I'm considering just skipping it since it's going to cost so much just to get started AND i won't get a paycheck.
Their whole start-up method is for you to START with a list of 25 of your friends and family to sell to, your "natural market." Then you would expand out into friends of friends.
If you don't know ANYONE in the area, I can't imagine this being a good idea for you.
In my experience, the most successful agents do it as a second career and draw from a lifetime of friends and business contacts they have developed through their first career.
These places at my college hired anyone with a pulse. If you work out, great, it makes the company money. If not, it doesn't cost them anything. I think the amount of turnover is very high and most probably cannot make enough to survive. It is very common for entry level sales forces, even for well known brands.
The only people who took these jobs were those that could not find a better job, or those that had contacts in the industry that could help them out (i.e. their dad or uncle is an agent).
If you have a means of supporting yourself otherwise (i.e. via a spouse or parents), it can't hurt to get training and experience in cut throat sales. Even executives in marketing or sales usually had to start out in similar jobs and gave them a lot of perspective.
Here is a post I made on another post about insurance job. Read this before jumping in:
Insurance industry as a whole is a very unforgiving industry. You eat what you kill. New recruits come into the insurance industry, not realizing that in this industry, it takes someone who has that "IT" factor to make it. Considering that only 5% survive the insurance industry. Most don't know that. Regardless who you work for.
In this industry, you are pretty much self employed in a sense. You run it as if you are a business owner. You don't get paid until you sell. You don't get to clock in and make money. You don't get paid on effort. Like a business owner, you will have to find customers on your own. Most people aren't born to be entrepreneur or business owner. Many people only have employee based mentality.
To anyone who wants to go into insurance and financial services. Ask yourself this: Can you walk up to a complete strangers and ask them to buy life insurance? Can you pick up the phone and call someone random from a phonebook and ask if that stranger wants to buy insurance? Can you contact or approach 200-500 people everyday whether by phone or in person. Most realistically, by phone and ask for business? Do you have a large network of people willing to buy insurance from you at this moment? Now, if your answer is "NO" to all of these questions....Insurance is NOT FOR YOU. You can not be shy, afraid, or scared in this industry. You will starve if you are.
Sounds like State Farm. I had a friend look into their perpetual ads. She found out you have to be prepared to not earn anything for the first 2 years. And yes, you've got to invest in your own start-up.
If that were the case and I had the money to invest, I'd try house-flipping first.
Thanks for the honesty! I decided against the whole mess, it's not worth it for me at this point.
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