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Keith Said:

How difficult is the NY Life and Health Insurance Exam?

We Answered:

Class schedules aren't very flexible, because there aren't 100's of people attending them per week. Here's what I did, and what every agent recommended that I do:

Take classes for 2 days at AD Banker:
http://adbanker.com/

Then self study for 3-4 days.

Then schedule a test with Pearson Vue:
http://www.pearsonvue.com/

There really isn't much competition in the Health Licensing Center industry. Those will probably be the most affordable/best options in any area.

I thought the test was pretty easy. I had been working for a Life/Health Producer as an assistant for 4 months which help on the basics, but the classes (in person) helped me by far the most.

I got a 69% the first time (cut off for a Pass is 70 grrr!), but 4/4 people I talked to got a 69% their first go.... Conspiracy? maybe.

Be sure to take your 2nd test within 2 weeks of failing your first, because studies show you'll have an 80% better passing ratio.

Once it's all said and done, go to http://www.nipr.com/ to register as an official producer!!! good luck!!!

Walter Said:

Can you write business for a life insurance company for two different brokerage companies?

We Answered:

most allow dual appointments so you can write the same company with multiple brokerages.

Tamara Said:

Insurance career opportunity?

We Answered:

You should be able to find the companies which market locally at career fairs. They will usually train you, then send you out cold-calling and knocking on doors, which isn't a bad way to learn. I won't endorse any specific companies, since I have no idea where you are located.

You can also try searching around on the internet to see if there are life insurance brokerages in your area. However, they will probably not supply any leads and you will need to have an Errors and Omissions policy in force before they will allow you to transact business through them.

You can also learn by working for a life insurance carrier in their offices directly. This would not be a sales or commission based position, but you would learn more about the industry.

Cathy Said:

i am life insurance agent and i am looking for group accidental insurance brokerage.?

We Answered:

what state are you in?

Bradley Said:

Opening an insurance agency, need funding advice?

We Answered:

If $6500 is all you need a suggest not going into debt over that just use money of your own, You can earn that much money in six month at min wage. I do not suggest a partnership with anyone because you will likely end up with conflicting interest's of business and that could be the demise of the businesses success. Debt is not a good foundation for start of a new business, case in point your dad was not able to repay that money and it ended not so will. I have done business start ups of my own and have realized that there are almost always associated expense's above and beyond the initial investment. I hope that you are successful with your business!

Elsie Said:

Should I open an insurance agency/brokerage?

We Answered:

OK, you know how to work, and you know how to sell. I think it's a great idea to open your own agency.

I would ABSOLUTELY go all lines - don't limit yourself! And the way to REALLY make money, is to have some producers working for you.

The hardest part will be lining up the contracts. But as you clearly have a track record, and hopefully you can move some of your existing book to a new carrier, it shouldn't be to hard to get the contracts - depending on your geographic area.

Tina Said:

can you sell your life insurance to a brokerage company?

We Answered:

In the responses thus far, I have read two terms for the practice; “life settlement” and “viatical settlement.” While the difference is subtle, these are two very different things. Both are sales of life insurance policies to investors, but with different purposes.

The viatical settlement came about during the AIDS scare of the 1980s. HIV patients were then assumed terminally ill. Having only expensive experimental treatments available, patients would sell their life insurance policies for an amount far below the death benefit. As major insurers witnessed this trend, they began issuing policies with no-cost riders which would provide a portion of the death benefit (usually 75%) to owners with a life expectancy of less than one year. Viatical settlements are relatively rare, but still offered to those with less than a two-year life expectancy.

A life settlement can be offered to anyone if a company deems the transaction potentially profitable. Settlements are generally offered to those with a life expectancy up to 25 years, but normally no more than 15 years. Payouts are based on a present value of the death benefit. The lower the life expectancy, the larger the payout. In any case, they are well above the policy’s surrender value (if there is one). If available, this is virtually always preferable to surrendering the policy. In the case of term, it’s the only way to reap anything from the policy during the insured’s lifetime. Depending on the settlement company's policy, settlements can be offered on ANY type of life insurance policy.

As with any financial planning topic, the decision must be centered around the goals to be achieved. A life settlement is a valuable option if funds are badly needed or there is no need for the death benefit. You can find assistance on this and other financial topics using the link below.