i'm seann mcwhorter, agency principal of insureright insurance agency, located in lehi, utah. we're here to talk about the ins and outsof insurance. today, we're going to talk about, how to become an insurance agency. just alittle background that you may want. most companies that are looking for insurance agencies,or agents, don't necessarily require a college degree, but it is highly recommended thatyou do have at least a bachelor's degree. it really doesn't matter what that degreeis in, but a bachelor's degree is helpful. some of the personality traits that may helpyou in this profession, is you need to be willing to go out and meet and talk to people,because in all reality, you are a professional, but you're also a salesman, and you need tohave the ability to talk with people, and
interact well with people. in becoming aninsurance agent, there are several different tracks that you can take. one of the easiestand most common tracks people take, is to apply to be an agent, with what is calledin the industry, a direct writer company, or an exclusive company, or a captive agency,such as state farm insurance, or allstate insurance, or farmers, and there are manyother companies, that do that. the benefits to starting your career as an insurance agent,withone of these types of companies, is they provide a great deal of training. they do offer subsidizedcompensation packages, in your early years. the way an insurance agent gets paid, is acommission, based on the premiums that are gathered on the insurance policies, that aresold,and as your book of clientele increases,
then obviously, your income level will increase,so in the early years, it can be difficult to get established as an insurance agent,because you don't make a tremendous amount of money, off of each individual policy, upfront. over time though, however, you will accumulate a large clientele, and your incomeswill increase. working with a captive company, you do get usually really good training, theenhanced compensation plans in the early years, but there are some drawbacks to working asa captive agent, because you are tied to just that one company, and you're limited to whatthat company is able to do. one of the other avenues that you can take to become an insuranceagent, is to go to work for an independent insurance agent. an independent insuranceagent, is someone who does not necessarily
represent just one carrier, but representsmultiple carriers, and multiple types of insurance. some of the advantages of working with anindependent insurance agent, is that you are not tied into any one company. you can actuallymatch the company, or go out and look for a company, that matches the clients that youhave. some of the downsides to it, is that there are not usually any subsidy availableto you, to help you get started, and so you really have to know what you're doing. there'snot as much training provided. it's more of a hands on learning experience.
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