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View Full Version : Selling Insurance and the WAHM
Cornelius
06-16-2008, 01:00 PM
Yes WAHM's can sell Insurance and other financial productsas a home based business.Something to consider is the business side. First of all there is a requiremnt of being licensed. Then appointed with a company. Many people do this by aligning with a marketing organization. The marketing organization will have some preferred carriers they use and may also offer their agents to the abilityoffer other carriers products. When looking at individual companies sometime there is a bit of hype involved. Always read the contract.
Then we look at the side of recruiting your own sales force. Some marketing organizations require it for advancement to higher commission levels and some may not, it all depends on what the individual agent agreement says.
Let's say a person just wishes to earn a some extra income to maybe fund a college fund or earn enough for vacations, having a Life License is a great benefit. One sale a month to a family (husband and Wife)can earn upwards a few hundred dollars or up into the thousands depending one the product, the annual premium sold and the commission schedule. That being said the hidden jewel is the ability to build a team.
One thing about let's say a Term Policy is it doesn't in most cases pay any renewals. Once it's sold it's a one time commission. (I'm keeping it simple) Well with a team in place there can be over rides earned from production of that team people can build. Today we live in a totally different world. The idea of a companypension is basically gone. People after retirment are expected to live upwards to 20-30 years. If a person doesn't prepare for themself God help them. Today people are looking for solutions. The indistry as a whole does not have enough people. The turn over is high within the industry so starting out part-time is a great solution. A WAHM can get licensed help a few people a month and earn some great income to suppliment retirement goals, suppliment household expenses, or build a business.
Is this for everyone? I say no. Is this something to think of as joining a company.I say no, because it's a business venture. Financial Services is a professional Industry. It's not easy, but the rewards can be great. It doesn't matter how much anyone else makes, because you can't compare you against others.What you make is up to you depending on the contract you have and the inner drive.
Many people contact me for information about the company i'm with or about the financial services industry and many people have an issue with the start up cost. Well all I can say is it is what it is. Running a business cost money. The initial cost is small compared to the potential return. AsI mentioned above retirement is coming for all of us, be it by choice or by force. The money to live on is going to have to come from somewhere. It's either going to come from our own financial decisions or from the help of others be it family or the government.
Money doesn't just happen in most cases it's aquired by time and consistancy. Let's look at an example.
http://www.bankrate.com/gookeyword/news/sav/2006savmg/savings-calc.asp?caret=18
Plug in Age: 35
$1,000 monthly savings
8% interest.
Of course this is just a calculation and taxes arn't a consideration. When setting goals the vehicle you consider has to have the ability to compensate you enough to reach those goals. Financial Services is a great vehicle for the right person.
Give this article a read: http://www.seattlewomanmagazine.com/articles/aug06-2.htm
Something to consider is every company has the best products, the best compensation structure and the best contract. Is that true? To an extent it's true. It's true to the person who doesn't know any bettter. For those who would like to consider the Financial Services Industry don't believe the hype. Think about what's best for you and yours. Nothing is free. Will you make millions? Probably not, some people do, but you can build some thing that can pay you for generations to come. A license gets you in the door. What you do is totally up to you..Whew..Sorry for the long post. It's just that some people tend to think they are joining a business rather than starting a business of their own. It's an important decision.
Here's a quick eye opening video.
http://www.youtube.com/watch?v=4WTgmVH1d_0
Cornelius N. Key
neilpfs@yahoo.com
Then we look at the side of recruiting your own sales force. Some marketing organizations require it for advancement to higher commission levels and some may not, it all depends on what the individual agent agreement says.
Let's say a person just wishes to earn a some extra income to maybe fund a college fund or earn enough for vacations, having a Life License is a great benefit. One sale a month to a family (husband and Wife)can earn upwards a few hundred dollars or up into the thousands depending one the product, the annual premium sold and the commission schedule. That being said the hidden jewel is the ability to build a team.
One thing about let's say a Term Policy is it doesn't in most cases pay any renewals. Once it's sold it's a one time commission. (I'm keeping it simple) Well with a team in place there can be over rides earned from production of that team people can build. Today we live in a totally different world. The idea of a companypension is basically gone. People after retirment are expected to live upwards to 20-30 years. If a person doesn't prepare for themself God help them. Today people are looking for solutions. The indistry as a whole does not have enough people. The turn over is high within the industry so starting out part-time is a great solution. A WAHM can get licensed help a few people a month and earn some great income to suppliment retirement goals, suppliment household expenses, or build a business.
Is this for everyone? I say no. Is this something to think of as joining a company.I say no, because it's a business venture. Financial Services is a professional Industry. It's not easy, but the rewards can be great. It doesn't matter how much anyone else makes, because you can't compare you against others.What you make is up to you depending on the contract you have and the inner drive.
Many people contact me for information about the company i'm with or about the financial services industry and many people have an issue with the start up cost. Well all I can say is it is what it is. Running a business cost money. The initial cost is small compared to the potential return. AsI mentioned above retirement is coming for all of us, be it by choice or by force. The money to live on is going to have to come from somewhere. It's either going to come from our own financial decisions or from the help of others be it family or the government.
Money doesn't just happen in most cases it's aquired by time and consistancy. Let's look at an example.
http://www.bankrate.com/gookeyword/news/sav/2006savmg/savings-calc.asp?caret=18
Plug in Age: 35
$1,000 monthly savings
8% interest.
Of course this is just a calculation and taxes arn't a consideration. When setting goals the vehicle you consider has to have the ability to compensate you enough to reach those goals. Financial Services is a great vehicle for the right person.
Give this article a read: http://www.seattlewomanmagazine.com/articles/aug06-2.htm
Something to consider is every company has the best products, the best compensation structure and the best contract. Is that true? To an extent it's true. It's true to the person who doesn't know any bettter. For those who would like to consider the Financial Services Industry don't believe the hype. Think about what's best for you and yours. Nothing is free. Will you make millions? Probably not, some people do, but you can build some thing that can pay you for generations to come. A license gets you in the door. What you do is totally up to you..Whew..Sorry for the long post. It's just that some people tend to think they are joining a business rather than starting a business of their own. It's an important decision.
Here's a quick eye opening video.
http://www.youtube.com/watch?v=4WTgmVH1d_0
Cornelius N. Key
neilpfs@yahoo.com
