How do I introduce myself as a life insurance agent?
I am a life insurance agent who is passionate about helping my clients protect their families' futures. With over 5 years of experience in the industry, I have the knowledge and expertise to guide my clients through the insurance buying process for their unique insurance needs.
I want to introduce myself as a new insurance agent in the area. With over 35 years of experience in the financial services industry, I am excited to expand my expertise to a new set of clientele. I take a consultive approach when working with my customers, and I always aim to provide the best solution available.
- Hand out business cards. Business cards are a tried-and-true method of getting your contact information into a prospect's hands.
- Sponsor events. Host a charity event, or back a tee-ball team. ...
- Enter referral agreements. ...
- Go where your customers are. ...
- Encourage give-and-take.
- Engage your non-life licensed Customer Service Representatives. ...
- Bring up life insurance in every conversation. ...
- Discuss life insurance during a P&C (property & casualty insurance) sale. ...
- Follow up with new customers. ...
- Give customers a quick life insurance quote.
Hook your prospect with a strong opening sentence: It should address the needs of customers and why do they need insurance. Address their pain points: Most insurance customers tend to have common questions, and these are usually their concerns. It may include the premium amount, coverage, and even claims.
Life Insurance can be defined as a contract between an insurance policy holder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period.
Life Insurance provides financial support in case of any unfortunate event. Some policies are also known to provide maturity benefits. The proceeds from this payout can be used to fulfil the long-term goals of the family and provide financial stability to the family as well.
Becoming an insurance agent can be a great side hustle for those looking to earn extra income while helping others and growing personally. With a bit of training and networking, you can start building your client base and earning commissions in no time.
The career of a life insurance agent is lucrative but involves constant hustling, networking, and many instances of rejection before a sale is ever made. Life insurance agents might be given a small salary to get started but are otherwise primarily dependent on commissions to make a living.
- Find your niche. ...
- Build an online presence. ...
- Network in your community. ...
- Prospect every day. ...
- Partner with other professionals.
How do I prospect as a new insurance agent?
- Use Every Lead Generation Strategy in the Book. ...
- Create a Referral Rewards Program. ...
- Prepare For and Overcome Objections. ...
- Use Opening Lines That Create Momentum, Not Friction. ...
- Master the Art of Follow-Ups.
- Focus on the Client's Needs: Every client has unique needs and priorities. ...
- Speak with Confidence: Confidence is contagious. ...
- Highlight the Benefits, not just Features: Clients are more interested in how the policy will benefit them, not just its features.
Agent: I'm calling to discuss your life insurance coverage. I'm offering free quotes to [local businesses/people who have expressed interest] this week. There's no obligation to buy and it only takes a few minutes to see if we can save your family some money on your monthly premium.
Difficulty in finding leads
Life insurance agents are often responsible for finding customer leads on their own. Although there are some insurers that provide staff with leads, there's a strong likelihood that these may have already been contacted by several other insurance agents.
Selling insurance can be stressful. It requires long work hours. You can also experience constant pressure to meet different quotas and targets. The highly competitive nature of the profession can create a work environment that often leads to stress and burnout.
You should get to the point quickly, be upbeat, and avoid asking for the customer's permission to talk to them. Good options for insurance sales call openers are to ask how the prospect has been, discuss something you've learned about them, mention the holidays, or simply be blunt about the purpose of the call.
Life insurance covers the insured person's life. So if you pass away while your policy is active, your beneficiaries can use the payout to cover whatever they choose — medical bills, funeral costs, education, loans, day-to-day costs, and even savings.
Term life insurance. Whole life insurance (permanent) Universal life insurance (permanent)
The average life insurance payout in the U.S. is about $168,000, according to Aflac. However, the payout of your life insurance policy will depend on the amount of death benefit that you pay for, as well as any money borrowed against the policy prior to the payout.
Life insurance is a contract between an insurance company and a policy owner in which the insurer guarantees to pay a sum of money to one or more named beneficiaries when the insured person dies in exchange for premiums the policyholder pays during their lifetime.
How much is life insurance per month?
| State | Average Annual Life Insurance Premium | Average Monthly Premium |
|---|---|---|
| California | $668 | $56 |
| Colorado | $645 | $54 |
| Connecticut | $724 | $60 |
| Delaware | $657 | $55 |
One of the biggest reasons that insurance agents quit is the fact that they have unrealistic expectations. The insurance industry is huge, which leads many people to think they can easily make a large income by selling insurance.
- New York Life. 3.7 $80,616per year. 3,906 reviews259 salaries reported.
- Farmers Insurance Group. 3.5 $67,832per year. 5,836 reviews1.5k salaries reported.
- Aflac. 3.5 $64,134per year. ...
- GEICO. 3.2 $62,493per year. ...
- Allstate Insurance. 3.6 $57,989per year. ...
- Show more companies.
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $137,179 | $66 |
| 75th Percentile | $120,400 | $58 |
| Average | $79,073 | $38 |
| 25th Percentile | $56,700 | $27 |
Each insurance licensing exam presents its own challenge. Between Life and Health, students say that the Health insurance exam is the more difficult. Health insurance policies are simply more complicated than life insurance policies. The Property insurance exam is easier than the Casualty insurance exam.
