Did YOU Know?

I’m relatively new to the whole insurance thing. If you’re like me, you grew up with the idea that insurance salesmen were the most boring (and irritating) people on the planet. They went door-to-door to talk to you about things you didn’t want to think about, mainly death, they called you on the phone during dinner, or they accosted you at parties when you were least prepared and had no escape route. This idea, perpetuated by every classic TV show and movie I can remember, came long before the appearance of the clever and comedic advertising campaigns of the early 2000s. Though it was never confirmed, I was certain that Death of a Salesman’s insecure and delusional Willy Loman sold insurance.

I’ve been at Maxwell Insurance & Financial since 2014. I came in with little to no knowledge of insurance and had no intention of learning about it. I was hired for accounting with HR, payroll, IT, marketing, and ultimately, office management thrown into the mix… Essentially everything other than handling insurance.

However, I quickly discovered that the company’s only source of income was commission earned by selling insurance. Maxwell is an insurance broker, not an insurance company, so our clients don’t pay us. We bring in clients and do everything we can to help them, so they can pay insurance carriers. Funny, I know, but true. After the insurance companies collect their premiums, they send us a percentage of what they just made.

The biggest part of my job, accounting, involves tracking these commissions to be sure we are paid properly. Reviewing commission reports required an understanding that I did not have. Imagine my shock when I realized I would have to learn about insurance. The horror of it all!

I steadied myself, took a deep breath, and started asking questions. Luckily, the agents here are very knowledgeable and always ready to help. I learned all kinds of things, but the more I learned, the more questions I had. One of the most surprising things to me was how many types of insurance exist. You can insure just about anything. Did you know that you can insure your hands? Your teeth? Your hair? The very first insurance company, Lloyd’s of London (founded in 1686) has even issued policies against being abducted by aliens!

After three years, I decided to get an insurance license. I figured the manager should not be the only employee without one. I can honestly say, insurance is not simple. There are lots of rules, tons of important details to remember, and the test for your license… I hadn’t taken a test that grueling since the SATs! I gained a new respect for the agents and the industry, that’s for sure.

Everyone knows you need health, home, and auto insurance. It’s the law. But, had I known then what I know now, as they say… I would have asked different questions. It’s impossible to ask for things you don’t know exist. How do you prepare yourself for the inevitable – loss, illness, simply getting older – when no one volunteers to help you? I realized I needed to share what I learned. Even if I helped one person, I would be doing that one a huge favor.