Insurance

[heavyweightchamp]

Anyone here sell home and auto insurance?

 

[T-Matt]

Anyone here sell home and auto insurance?

I sell Life and Health..

T-Matt

 

[heavyweightchamp]

I sell Life and Health..

T-Matt

I used to sell for AIG right after college before I fought professionally and was wondering if becomming a State Farm agent makes sense for future activities for me?

There's a former NFL linemen buddy of mine who's all but convinced me that it's the route to go. BTW he does 4 and a half per year, which isnt typical but let me know your opinions.

 

[glennds]

i am a Farmers agent. done well for me. started young...like age 27.

 

[T-Matt]

I work for World Financial Group (Aegon Group) and we have a killer set up.. We have a sister company Western Reserve Life of Ohio Insurance Company who has the 2nd cheapest cost of insurance out there. Their subaccounts for the VUL's are fucking sick.. 35-45% return.. They also have this product called an EIUL (Equity Index Universal Life) and the only difference b/w it and a VUL is that your principal is GUARANTEED in writing.. You are also guaranteed at least 1% growth even if the market crashes.. Only thing bad about it is that your gains are capped at 12.5%.

I have access to sell AIG but their underwriting dept is fucking atrocious..

VUL's are the shit.. let's see if you guys can pass the test.. Do you want to pay taxes now? pay taxes later? Or never pay taxes? tough one, I know..

Yeah, I'm 23 years old and I've found my home.. With what I'm learning with WFG, I have been able to retire my parents before their 50th b-days, refinance my best friend's parent's house for 1.0% interest, earn at least 35% return on my investment, minimize my taxes, and maximize my cash flow.. Life is good baby!

T-Matt

 

[heavyweightchamp]

Sounds like you guys are killing it.

 

[T-Matt]

Sounds like you guys are killing it.

I'll really be killing it once I get my Series 6 license..

T-Matt

 

[heavyweightchamp]

I'll really be killing it once I get my Series 6 license..

T-Matt

Fuck yeah on top of your book of biz. Little bit of study involved tho huh? Thats what my bro's doin in Ohio and he's in his 7th year holdin down $325-$425k just turned 31, set to retire and open a new venture within the next 4 years. Theres serious money in INS if you hustle hard and are connected and likeable.

He owns an Erie location, or independant of one.

Do any of your guys own your companies?

Beast

 

[T-Matt]

Fuck yeah on top of your book of biz. Little bit of study involved tho huh? Thats what my bro's doin in Ohio and he's in his 7th year holdin down $325-$425k just turned 31, set to retire and open a new venture within the next 4 years. Theres serious money in INS if you hustle hard and are connected and likeable.

He owns an Erie location, or independant of one.

Do any of your guys own your companies?

Beast

That we do.. all our money tied up in LLCs.. Everything is a write off.. If a bitch wants to divorce me too bad so sad, ya ain't getting shit b/c all my money is tied up in the business and sheltered under life insurance a la OJ Simpson.. He's still a rich bitch isn't it?? Smart man.. Still don't change the fact...lol

Actually don't need any study at all.. just get my license and my company (World Financial Group) has the vehicles for my clients.. Our mutual funds with transamerica are yielding 40% return right now.. It's well lubricated system.. Aegon is the powerhouse of the financial industry.. Do we ever need to advertise? You ever seen an Aegon advertisement? Didn't think so.. Still Aegon is worth over 320 billion dollars in NET assests.. There's a reason.. Oh.. and you wanna know know who Western Reserve Life's first customer was? George Steinbrenner.. He has over 100 million in tax free money in WRL..

The hardest thing for me is my age man.. I'm 23 years old and no body wants to listen to me about money.. All I do though is keep it simple and earn their trust.. ohh and dress really nice

T-Matt

 

[glennds]

sounds like your friend may be exaggerating some. guys have habit of doing that.

but insurance is great way to make living. i do very well but took many years to rech this point. gotta stick it out. you are right, you gotta be likeable, and hardworking to become successful.

the big money is in commercial and fire insurance. auto is a pain in the ass but brings ppl in the door. never wanted to do the series 6 thing. only so many things you can be an expert on.

tmatt you are right, people more willing to listen to you when you are older. but that is life. i am in my 40s with successful agency. people will almost always listen to what i tell them to buy, because they trust my experience. like a trusted doctor.

 

[T-Matt]

sounds like your friend may be exaggerating some. guys have habit of doing that.

but insurance is great way to make living. i do very well but took many years to rech this point. gotta stick it out. you are right, you gotta be likeable, and hardworking to become successful.

the big money is in commercial and fire insurance. auto is a pain in the ass but brings ppl in the door. never wanted to do the series 6 thing. only so many things you can be an expert on.

tmatt you are right, people more willing to listen to you when you are older. but that is life. i am in my 40s with successful agency. people will almost always listen to what i tell them to buy, because they trust my experience. like a trusted doctor.

Straight up, I take care of myself physically, I have a likable voice and personality, I'm good looking, and I don't hesitate when I speak.. I'm good.. It's only going to get better..

There's definitely money in commercial insurance b/c that's where the big money is, in business.. However, don't underestimate a good VUL (Variable universal Life)--you get paid for 10 years on it.. A VUL is worthless unless you utilize the 7-pay.. The 7-pay on a million dollar policy is at least $30grand.. I get a nice little chunk o that my friend.. I set up a VUL that you're earning 30-35% return on the subaccount and you're gonna wanna tell your friends.. and yeah.. It just doesn't end man.. If there's one thing I've learned in this industry it's that we all only have one right.. and that's the right to remain stupid.. It's unfortunate that too many people abuse that right..

T-Matt

 

[thisforumrots]

...

 

[heavyweightchamp]

Alright bros so what would be my next step , someone tell me what to do or how to approach this... I have the money to invest, time in the afternoons and some evenings, used to sell for AIG and actually have some sales acheivements with them as well.

Need to retake my exam? How do I approach companies to franchise? who? etc

Please help.

 

[Golddoor]

I work for World Financial Group (Aegon Group) and we have a killer set up.. We have a sister company Western Reserve Life of Ohio Insurance Company who has the 2nd cheapest cost of insurance out there. Their subaccounts for the VUL's are fucking sick.. 35-45% return.. They also have this product called an EIUL (Equity Index Universal Life) and the only difference b/w it and a VUL is that your principal is GUARANTEED in writing.. You are also guaranteed at least 1% growth even if the market crashes.. Only thing bad about it is that your gains are capped at 12.5%.

I have access to sell AIG but their underwriting dept is fucking atrocious..

VUL's are the shit.. let's see if you guys can pass the test.. Do you want to pay taxes now? pay taxes later? Or never pay taxes? tough one, I know..

Yeah, I'm 23 years old and I've found my home.. With what I'm learning with WFG, I have been able to retire my parents before their 50th b-days, refinance my best friend's parent's house for 1.0% interest, earn at least 35% return on my investment, minimize my taxes, and maximize my cash flow.. Life is good baby!

T-Matt

T-Matt,

I just got appointed through AIG Life and I am having issues with thier underwritting department also. Taking way to long to get my policies and declining and rating up most of my cases. What issues do you have?

 

[T-Matt]

T-Matt,

I just got appointed through AIG Life and I am having issues with thier underwritting department also. Taking way to long to get my policies and declining and rating up most of my cases. What issues do you have?

You hit it right on the head bro.. They are ALWAYS rating up my cases and declining everything, their underwriters are douchbags bro..

Let me suggest that you get appointed with Western Reserve Life of Ohio.. Cost of insurance is dirt cheap and their subaccounts are kidding ass.. BTW, I work for World Financial Group and WRL is our sister company and we are both owned by Aegon..

As I offered him, I will offer you an opportunity to get with a real company..

T-Matt

 

[glennds]

underwriters just doing their jobs. you guys will realize that after being around for a while. it ain't personal.

 

[Golddoor]

You hit it right on the head bro.. They are ALWAYS rating up my cases and declining everything, their underwriters are douchbags bro..

Let me suggest that you get appointed with Western Reserve Life of Ohio.. Cost of insurance is dirt cheap and their subaccounts are kidding ass.. BTW, I work for World Financial Group and WRL is our sister company and we are both owned by Aegon..

As I offered him, I will offer you an opportunity to get with a real company..

T-Matt

Is Western Reserve available in Texas? What rating are they? Yea if you want send me some info on them?

Golddoor

 

[gymrat1977]

I am a commercial lines underwriter. There is give an take on both sides, but I agree that some underwriters are too tough. On that same note, a lot of agents write crap just hoping that some of it goes through. I would much rather make an agents salary than underwriters. I have thought about going back into insurance sales. My old job was outside sales though. Thats tough with insurance.

 

[glennds]

smart and experienced agents know how to work with underwriters as a team. you gotta know what your company wants and writes. reasonable exceptions can be made if you have built a relationship with your company and have a good rep. that takes time. gotta make friends and treat everyone with respect.

underwriters dont decline and rate YOUR policies, they decline and rate applicants do not qualify for standard or preferred rates.

insurance companies are heavily regulated by dpt of ins. they can get fined heavily for accepting one person in a preferred rate as an exception, and not another. underwriting guidelines exist to keep the company profitable. .

 

[heavyweightchamp]

Hey dudes just curious, what % of the annual premium do you make?

This State Farm gig offered me 20% of each individuals annual premium for the life of the policy, Is that fair or no?

Erie has their agency owners set up at 25% from what I was told.

Also what is the average premium per policy? Like what does your client pay (on average) per year or per month?

PLEASE HELP ME ANSWER THESE QUESTIONS!!!
I would appreciate it greatly, this whole industry is so hush hush about earnings and Overstated...

Thanks,
Beast

 

[T-Matt]

Glennds.. man, I completely understand that.. It's just that the problem goes deeper than that.. Not returning phone calls, slow underwriting times, lack of a personality for me to even attempt to establish a relationship..

Heavyweight..

With WRL we pretty much get the same compensation.. As as what our average premiums are.. haha, that's hard to say.. HOnestly, I pretty much refuse to sell a term policy, they don't put the client in the best situation.. WRLs cost per thousand for insurance is the 2nd lowest out there.. The only reason it is second is b/c of how much money WRL puts into their subaccount managers.. Them boys are making some loot and making me and my clients even more loot ..

Our VULs are unbeatable man.. Unfortunately, I do not have my series 6 license yet so I am unable to offer a VUL.. What's great though is that WRL has an EIUL (Equity Index Universal Life). The EIUL is based on the S&P 500.. With a bit of research you will find out that the S&P 500 has averaged 12.5%.. Including the wars and 9/11.. 12% return on my investment ain't too shabby holmes.. Not only that, your earned principal is NEVER lost AND you are guaranteed at least 1% gain even if the market crashes.. You tell me who GUARANTEES in writing that you will NEVER lose ANY of your principal AND you are GUARANTEED at least 1% gain?!?!?!?!

I always advise my clients to take advantage of the 7pay, as, you aren't reaping the true benefits of the policy if you don't do the 7pay.. Life insurance is, hands down, THE BEST way to shelter money.. Ask OJ Simpson about that..

Ohhh.. wait.. did I mention that Aegon and WRL's MAIN office is like 7 miles away from my office?!?!?! Yeah, I get to drive down and visit my underwriting department.. Take them out to eat, buy 'em shit.. etc.. haha, maybe that's why i'm so partial.. who knows

T-Matt

 

[glennds]

well good luck to you matt. it is a fun business but you gotta pay your dues. sounds like you have a good attitude. you would be surprised how much people like dealing with enthusiastic people, people who love what they do.

 

[T-Matt]

well good luck to you matt. it is a fun business but you gotta pay your dues. sounds like you have a good attitude. you would be surprised how much people like dealing with enthusiastic people, people who love what they do.

Thanks bro! I appreciate the good word! Estate planning is exciting to me, hahaha.. I just get a high from helping a family kick the IRS's ass.. I am anti-Uncle Sam..

The only problem I'm running into now is just the age factor.. The whole "Umm, what are you gonna tell me about money son, I'm 45 and you're 23?" I then ask the big question one last time.. "So, answer me this.. would you rather pay taxes now, later, or never?........... That's what I thought, I'll need 4 signatures.."

T-Matt

 

[lostinfitness]

insurance is great to get into, if you can handle being pissed all of the time.

 

[T-Matt]

insurance is great to get into, if you can handle being pissed all of the time.

A lot less stress than mortgages, that's for DAMN sure!

Life insurance isn't bad at all as long as you educate your clients on the importance. You can't sell life insurance as "just in case shit happens" you have to sell it as estate planning.. Then you explain the tax advantages and it sells itself.. As long as you client understands the importance you won't have any charge backs.. I don't really see why you'd be pissed off all the time??!?

T-Matt

 

[Golddoor]

insurance is great to get into, if you can handle being pissed all of the time.

Boy you got that right!!!!!!