Property taxes are the big problem around many metropolitan surburbs (think this what you meant, not insurance on homes). Housing around DC (Virginia), NY, and Boston all extremely high. Anyone 50 or over with kids in college or after I would say look south, SW or mid America. Preserve money, dont throw it away.
Over 55 only
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Property taxes are the big problem around many metropolitan surburbs (think this what you meant, not insurance on homes). Housing around DC (Virginia), NY, and Boston all extremely high. Anyone 50 or over with kids in college or after I would say look south, SW or mid America. Preserve money, dont throw it away.
Work for a large company or for who? Dont you need sponsorship to get employed to take the tests and get a license?
NE is not too much rain...just a rare hurricaine can do it. 2-3 months of cold and snow, 1-2 months of moderate summer ...the rest is 40-80, good weather majority of time....
No, not for an insurance license. If you want to be able to sell variable products and mutual funds or stocks and bonds, then yes, you wil need a sponser to hold your broker/security license.
I like the idea of selling Medicare Health Insurance.
How did you get started?
Where did you get your basic information of the different policies?
Do you work independently or with an agency?
How do you prove your expertise?
How did you get started?
Where did you get your basic information of the different policies?
Do you work independently or with an agency?
How do you prove your expertise?
I left pharm sales to work with a Health Ins. Company. Upon retirement I decided to work for an agency as an independent agent selling Medicare Insurance.
The first step is to get licensed in your local state. You need to get a Health Insurance License, contact your State Dept. of Insurance. I recommend one of the Insurance Schools, either classroom or on-line. Talk to some local Insurance Agencies about selling Medicare Insurance. Also look at working for one of the companies that offers Medicare Insurance plans, such as Humana, United HealthCare and other local Insurance Companies in your State. Contact your Blue Cross and Blue Shield companies. I prefer the independent agent route. The nice thing about sales are the residual commissions, they keep paying as long as the contract is in place. Each sale builds on other sales.
My one regret is I did not go into the buisness earlier, although pharma sales was good to me.
The first step is to get licensed in your local state. You need to get a Health Insurance License, contact your State Dept. of Insurance. I recommend one of the Insurance Schools, either classroom or on-line. Talk to some local Insurance Agencies about selling Medicare Insurance. Also look at working for one of the companies that offers Medicare Insurance plans, such as Humana, United HealthCare and other local Insurance Companies in your State. Contact your Blue Cross and Blue Shield companies. I prefer the independent agent route. The nice thing about sales are the residual commissions, they keep paying as long as the contract is in place. Each sale builds on other sales.
My one regret is I did not go into the buisness earlier, although pharma sales was good to me.
I am seriously looking into this. As an independent agent how do you work with the products you sell? Do you have contracts with the different insurance companies to represent them to the public? Do you pick up all expenses? Work total commission? Thanks..
Anyone get the postcard about retirement plans changes. What is it about?
I have an opportunity to work at a high end retailer in sales. What do you think? HUGE drop in pay, but then better than nothing. Just can’t get any other sales jobs to even look at me. 57 yrs old. I guess I think that if I take this, I am giving up on ever finding anything that pays better. Should I give up on a better sales job?
Why not do it and keep looking. No work after hours like in pharma. Spend time sending out resumes at night.
There are several ways to go into insurance. You can work as a "captive agent" (on the payroll of an Insurance Company" or you can join an agency. In an agency you will be an independent agent choosing the companies you want to represent. Agency's have many of the contracts with the Insurance Companies. When it comes to Medicare you will need to contract through the agency with each Insurance Company. For Medicare Insurance you need to take their certification classes to represent their products, health and drug plans. These are renewed each year. Be prepared to invest time before the commissions began. Some Agencies will give you a base and then share the commissions. A good agent after a few years should make in the 80+ range and even over 100+. If you are an independent agent with an Agency then your commission share will be higher but you pay your own expenses outside of the office. This varies from agency to agency. Pick an agency that has a large "book" of business (a lot of clients) where you can work these for referrrals. Also, each Oct and Nov is Annual Open Enrollment and some agents set up a kiosk at a mall or large retailer. When it comes to Medicare, there are a lot of people beginning to age into Medicare and clients are very loyal if you do a good job. Beginning next year I am no longer taking referrrals, busier then I want to be. You will find after a couple of years your clients will refer friends and family to you. Seniors are looking for someone to help them understand Medicare.
I think being 55 is a little bit more challenging when starting a new career. You have a lot of experience under your belt. But people don't see that immediately. I wonder, as in Medicare insurance sale, there are some professions which are less image centric that are more appropriate for us to start over?
Cant say for sure, but maybe its talking with another older person. Could a young 20-30s something be well accepted by the senior citizen? In general I say older would prefer older, they know the salesman will soon be looking at Medicare themselves, these reps are probably seen has being more experienced.
As one who has done it in their 50's, this is where age does help and is not an impediment. The agency or general agent you contract with could care less what you look like or how old you are. You're on your own and if you can sell, you'll do well.
I have a family member who owns a large multi state insurance agency, and I agree with all above posts. He hires all kinds of people, and the experienced sales people have been a boon for his business. However, do not realistically expect that you are going to initially make anywhere near your current salary. You start out low (30's) and yes, you can bank $, but it takes time to build up your business. Just trying to be realistic.
Bank it on 30K. Where do you live in the wilds?
Thats a salary that a HS grad could surpass....
Realistic? No one I know could even think about that if they didnt have another MUCH BIGGER salary coming in from somewhere....
30-40K is what I've seen, too. I got out of Merck 5 years ago and went to work in the insurance field at 35K base. I'm now at 85K and a happy old fart to be building a nice residual income without some young nightmare for a CTL trying to make my job hell by threatening a PIP or asking for bs work. And I'm doing it in 35-40 hours a week with no nights or Saturdays spent working. It isn't a bad deal for someone who enjoys people and selling.