by jus gettin started » Fri May 08, 2009 01:56 pm
I am new and want to help peolpe with Life insurance: I want to sell both regular and Mortgage Protection .
I have checked out NAA and ...(not for me) . I want to be a captive agent for a year or more so I can really learn this business. I am in Va. and need advice on what company I should seek to go aboard with .
On the Mortgage Protection side : What comapny is best for that type of Life Insurance ? What are the "ins and outs" of that type of Insurance (for agent/client).
Any true advice would really be appreciated . I was laid off and @ 46 yr old finally feel like I am free !! But I am looking to the wisdom of this forum for some initial guidence .
Thank you very much for any and all help.
Matt
I have checked out NAA and ...(not for me) . I want to be a captive agent for a year or more so I can really learn this business. I am in Va. and need advice on what company I should seek to go aboard with .
On the Mortgage Protection side : What comapny is best for that type of Life Insurance ? What are the "ins and outs" of that type of Insurance (for agent/client).
Any true advice would really be appreciated . I was laid off and @ 46 yr old finally feel like I am free !! But I am looking to the wisdom of this forum for some initial guidence .
Thank you very much for any and all help.
Matt
Posted: Sat May 09, 2009 02:51 am Post Subject:
Welcome, noob, and good question!
You ask a really loaded question. I'm assuming you're referring to "Mortgage Cancellation/protection/if the mortage holder dies it pays off the mortgage loan" kind of thing and not Private Mortgage Insurance, or PMI.
These type of policies are typically term insurance contracts and usually decreasing term contracts. They are ok for the right person at the right time, and can save families. I've seen it. I do have a couple of issues with it, however. First of all, it's "term insurance!!!" I hope you're in this for the altruistic side of things and won't worry about making a lot of money, as these contracts won't pay that much in commission. The other issue that I have is that you should really be addressing a client's entire life insurance need and not just one particular aspect of his life. That's a whole 'nother story/thread.
As far as the "other" policies you want to sell, there are so many different contracts and purposes it would make your head spin. I think a good place to start is to Google life insurance and read as much as you can. As far as a company to work for, that puppy's wide open. We don't even know if you've done any research, where you are concerning your license or any other details.
So...fill us in on what you've done in those departments, and we'll see what we can do, ok?
InsTeacher 8)
Posted: Sat May 09, 2009 08:51 am Post Subject:
Hi Gettin Started, you have decided to operate in a very specialized field. MPPI or mortgage payment protection insurance would protect the borrower if he loses his job or get disabled and can't afford the mortgage payments anymore, but MPPI isn't indispensable, unemployment insurance or disability insurance or critical illness policies may cover mortgage payment aspect also. Therefore, IMO a new agent mustn't restrict himself to a niche area rather he should be able to offer wider range of product to his customer to get more business.
~Jeremy
Posted: Sun May 10, 2009 01:04 am Post Subject:
I have an article on my blog that talks about considering a career in insurance...maybe you'd like to check it out. http://insurancesuccess.ampminsure.org
Let me know if you need any help!
Add your comment