The Role of a Life Insurance Agent
Life insurance agents are licensed and authorized to represent a life insurance carrier or carriers in the solicitation and sale of life insurance policies. Life insurance agents can become employed by a carrier or carriers or become a broker for a carrier or carriers.
Who is Qualified?
At a minimum, you must be outgoing and not easily discouraged by being told "No". Being told "No" may actually mean "Not at this time". You must be comfortable with reaching out to prospects via email, phone, social media, or in person if necessary. This is a sales career, so if you are intimidated by selling, this may not be for you.
Qualifications and Certifications
The perfect candidate must be able to pass at state licensing exam for the state in which they reside and will be soliciting and selling life insurance. You will also be required to pass a background check and acquire certifications in Anti-Money Laundering and Annuities.
Freedom of Your Time
An insurance sales career offers flexible hours like most work-from-home careers. You never have to miss out on things that are important to you. You can come and go as you please. However, it is a career where you get what you put in. If you are self-disciplined and willing to put forth the effort, you have a great chance at success.
Invest in Yourself
Cost of Getting Started
Depending on the state in which you live, the cost of the pre-licensing course, exam, and license may vary. The investment in yourself will cost under $500.00 and covers the following. However, the cost to get started is only $221.00.
Assuming that you have completed all of the above, it's time to get to selling. If you are new to sales, reading books on sales and getting started in a career in life insurance, WOW Financial Services Agency and my partners offer On-the-Job training via online webinars and one-on-one mentoring if needed. Among the many methods to get leads, new agents networking has proven to be the best source for warm leads. If you are shy to cold calling, you will also have access to purchase quality income producing leads from the leads portal.
Most Life Insurance Agents receive compensation from life insurance carriers in of the form of commission. A part-time agent typically earns a minimum of $50,000/year. As previously stated. you get with you put into it. If you invest average, you can expect get average compensation. If you put in the maximum effort, you will excel beyond average and quickly. If you complete the qualifications to get started within 2 weeks, cashflow can potentially start by week 3. IT IS UP TO YOU!
Passive Income A Life Insurance Agent's income should grow year over year from annual policy renewals. Yes, that's right! Agents automatically get paid a 12 month commission for policies that were sold the prior year and remained active the entire year. Last but not least, we promote growing a team because each agent who has a team is paid overrides from his/her team's sales.
Giving Back to the Community
The most successful life insurance agents offers products to tailor to client's needs. The purpose of life insurance products is to transfer the risk from the client to the life insurance agency. Successful life insurance agents does what is best for the client, not what is best for the agent's commission. As agents, our job is the educate our clients and provide them with the best options to fit their current and long-term needs. That includes assuring that the product is affordable to the client and is not a financial burden to them. Our purpose is to improve our client's circumstances.
Since many of us are working from home, furloughed, or unsure where we stand in our careers due to COVID-19, what is the harm in trying something new. A career as a life insurance will never go away! Even it you don't feel that this is your calling, consider it a gateway as an entrepreneur and another stream of income. Even the richest of the rich maintain at least four streams of income. Consider this as one of your streams of income if you feel that our main calling is elsewhere. There are 6 0,000 life insurance agents in the U.S. The fact is that many will be retiring . That leaves the door open for new innovative agents to fill their shoes.
NOT TRYING GUARANTEES FAILURE, BUT BY TRYING YOU HAVE THE CHANCE TO SUCCEED, TO LEARN, AND TO TRY AGAIN!
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