Life insurance is one of the highest profitable industries in existence. This is a worthwhile source of income for many successful insurance agents worldwide. But if you ought to belong to the elite circle then there's a lot of hard work to do. Because insurance involves health and death, you may have a thorny time selling your products to any of your prospect clients. Undeniably, it's quite tough to persuade people to face their dooming fatality. If you want to a career on life insurance industry, here are some helpful tips to consider:
Understanding The Job Description
Your primary role is to sell insurance policies to the general public. These policies are provided by insurance companies. You can either work as a captive agent working for a single policy provider or as a non-captive agent working for different companies and sell variety of their policies. Either way, you have to invest ample time to recognize marketing strategies that will be helpful to your career. Industrious insurance agents can earn as much as $ 100,000 in their first year of sales. Usually, you can receive a commission ranging from 30-90% of the premium made by your client in the first year. In the consequent years, you can receive 3-10% of the annual premium.
Primarily, your ability to sell counts the most to be successful in the industry. Although college certification is not obligatory, many companies would rather prefer their agents to obtain post-secondary education. Knowledge on marketing and finance can boost your qualification. Besides education, you are also required to pass the licensee career training and examination provided by your residential state. Once you become a licensed agent, you are now legally able to start your career.
You can not survive the complexity of the industry if you are a thin-skinned individual. More than education and license, you need to have an indisputable fighting spirit. As you know, you are now prone to rejection for not all people are interested on what you're selling. Talk the language that your client speaks. Learn to jive according to your client's personality. More importantly, learn how to put client at ease. Talking about ailment and death is challenging to both the client and the life insurance agent. Take control of each situation otherwise you will lose an important buyer.
Join Insurance Organizations
Becoming a member of various organizations will expand your networking opportunities. You can also acquire trainings from different groups that you have signed for. Each organization will definitely feed you with tips and relevant information about the insurance industry. Accumulation of knowledge will help facilitate better understanding of the industry as a whole.
Establish an Office
If you begin as an independent agent, you can work on a small office with complete facilities such as fax machine, telephone line, computer, printer, etc. You can actually startup from home. Eventually, you can move to a more visible space to market your products. Once you have achieved stability, you can further market yourself in a variety of mediums such as your local newspaper, radio and internet marketing.
In addition, you can not sell any of your products unless the client trusts you. Remember, success does not come in a hurry. Most of your skills and learning will come from experience. We hope that this article will help you become a successful life insurance agent.