Insurance sales / Career questions. I need advice?

Question

Hi. I am becoming an insurance sales agent. I am concerned because every company promises the world, and none of them really talk about how to get people to ask for what you are offering.

There are lead companies, but they all promise the world too. Since more than half of what I am being shown is non-sense, is there anyone who can point me in the right direction?

Are there any newer agents that have been successful? And if so, can you share with me what you did to make people want your services?

Do you have anything of value that entices people? Something! I really dont want to feel like I am pulling teeth to get people's business.

Thanks so much.

Answer 1

This question has been asked many times at www.insurance-forums.net there is an agent section with a lot of information to find the best ways to get prospecting and product training. Come on by,

Answer 2

Well that depends on your motives. The biggest immediate difference, other than completely different traits required for the job, would be the volatility in the pay and the steep learning curve. I don't doubt your husband is intelligent, but to be successful in sales, you need to know all the products inside and out, and also know the person you are selling to so you can cater to their specific needs. As long as your husband is pleansant, the rest will take care of itself. With insurance, and the many different levels, it might take some time for him to get familiar with the product. It's not like cars where people have a good idea of what they're looking for. Secondly, sales is a very upbeat, fast paced, and dynamic environment. Some personality types have a very difficult time coping with all the movement, so make sure it's outlook and personality are suited for the position. You shouldn't worry about the 1099 adjustment. I recommend, and this is the safest recommendation, to put aside the money you would have paid in taxes into a CD or money market account. At the end of the year, you'll surely have a surplus of a few hundred dollars. If money is his sole reason for the job change, and his heart is not in it, I would recommend against it because in sales, ultimately, you're selling yourself. If he's unhappy with his job, and sales is something he's been pondering, and he's willing to take an immediate paycut for the potential to make much more later on, and you are financially secure until that happens, I think it's a wise career and life move. Either way, I wish you both the very best luck.

Answer 3

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Answer 4

The advice already listed is strong. I would add the following. Decide, if you haven't already, what type or types of policies you want to sell.

Some agents & companies might offer life & health policies only, so their focus may be a bit different from an agent who chooses to offer property & casualty insurance (home,auto,business poilcies)

Both insurance practices have benefits as well as challenges.

This is somewhat oversimplified, but basically/generally, life & health commissions are very good the first year premiums are paid, & gradually decline over subsequent years, the percentages paid will vary by company.

P & C policies don't pay nearly as high a commission, however the renewal commissions paid are usually level for the life of the policy.

Life insurance policies can be more challenging from a sales standpoint because many people procrastinate closing the deal for a variety of reasons, largely because "it can wait, it's not like I'm gonna die next week"....or something similar. There is often nothing compeling them to buy if you haven't identified the need.

Home & auto policies don't require as much sales skill, as the need/compeling reason is in place....the state requires folks to buy auto insurance, as well as the bank if the vehicle is financed.

Likewise, the mortgage company requires a home be insured properly, & most businesses have a lease &/or bank loan which requires business insurance.

So in P&C if your rates are reasonable compared w other companies & the customer is comfortable w you & your ability to provide them service, you have the sale.

My agency was built on about 90% P&C, so I found my route to success was meeting a steady stream of new folks, which I did thru community involvement, and superior customer service, which I performed personally until I grew enough to employ top of the line staff.

I've also purchased leads for a very successful telemarketing program. Ad specialties/giveaways are also popular & successful ways to market yourself, but you need to set a budget.

I've run on a bunch here, but I'm passionate about the industry. It has provided me with a lot of rewards, financially & personally, & it offers the same opportunity for you. Good luck, & feel free to drop me an email w any other questions about your career choices!

Answer 5

It doesn not realy metter for what companye you work for, regarding an insurance company, but it does not mean there is some better than others, for example The Hartford insurance is one of the most copetitive insurance companies with the best pay to the employs in US.

And regarding how to sell your product you have to know this:

It does not metter what you sell, what metters is that you know to who you will sell it to, for example, i'm an insurance agent and i have all this diferent type of policies to sell this month, Ok, so what i will need to find is what tipe of people will like to have this insurance and why, you have to show people that they need this product because is the best fit for they needs, and you show the advantage of having this product, if you are a comercial insurance agent you will go right to business right?, you ask them how hapy are they with they current insurance, and you ask after that if they find a beter insurance will they change?, and then without waint aniting you show what you have and pinpoint the adventages, some business people have to travel a lot so there is some insurance companies that incluid insurance coverage for all cars they rent, and staff like that, or other advantages your insurance companies give, you tell them that and this way people see if your insurance company offers more for what the payment is that the one they currently have, and there you go with a sell.

Answer 6

Hi, I'm a new insurance consultant from Malayasian Alliance Assurance. It's very subjective to say either agents are successful or not because it's depends on ur agency yearly, monthly or weekly target for you.
From my experience, people always look for trust. If people not trust u, they don't want your service even the agency u present is good.
So for me, and it's work, build your own self confident and thecustomer will come later.

Answer 7

New York Life is known in the industry to have the BEST training...I get calls constantly from other companies trying to recruit me. Not only do they have continual onsite training but offsite campuses in Reno and Dallas.

The world is promimsed by the managers...who need to make their numbers just like everyone else...

Look for fiscal strength...and good training programs. I started at another company who had all these promises of training .... training rooms, etc... and all they talked about was New York Life's training....

Good luck to you...this is a great business to be in...

Answer 8

Make sure to get a website built and promote it with search engine optimization - http://www.richkahmer.com
Also check into advertising with the ads on the local shopping carts at the grocery store.
Lastly, get listed in the online insurance directories -
http://www.findlocalinsurance.com

Answer 9

The key to doing well in this industry is to hang around and get your trailing commissions. The key is to stick with fundamentals and build the relationship with your client.
Try magnetic marketing lead generation techniques.

Answer 10

Great question, hope people can give some insightful answers