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How to be a successful insurance agent

Learn Steps to Become a Top Broker in the Life Insurance Business

The life insurance business can be highly lucrative for anyone looking at building a career in the industry. Life insurance is one the highest commission products sold – not because it isn’t a good value, but because it’s also one of the most difficult products to sell. These products offer intangible benefits and it’s challenging to get most people to face the possibility of diminished mobility and their own mortality. Anyone with the right skill set and motivation can become a success in this industry as a life insurance agent. The tips below will help you learn how to be successful.

  • Choose your future job. The beginning steps of learning how to become a successful life insurance broker are critical as these decisions pave the way for your future success in your business. Keep in mind that there is a lot of competition in the industry.

First off, you have to decide if you want to become an independent life insurance broker or a captive agent.

Independent brokers sell policies from several different companies, while captive agents sell only one company’s particular product. If you plan to start your career as a captive agent, find out the features and benefits of the company you have chosen. Feedback from existing agents in the insurance industry is the best information; you can often find this kind of information on forums, user groups such as Yahoo Groups and perhaps even the occasional blog.

You can get more information on projected salary, job outlook and job requirements on the U.S. Bureau of Labor Statistics

website .

  • Get licensing and education. As insurance agent or broker requirements differ from country to country, it’s important to do research before getting started in the business. Your local department of commerce or searching on Google is good place to get started. In virtually all countries and in every U.S. state, you’ll need a license to sell insurance. Licensing requirements are different from state to state, but it usually involves taking a relatively short course and one or more examinations. You must have separate licenses to sell life and health insurance and property and casualty insurance. Some states require agents to get more education every two years in order to stay in the business.

    If you choose to work for a single insurance company, you may want to start your career as a customer service representative to become familiar with the business in general and specific policy types. Once you have been in the field for a while, you may be promoted to the position of sales agent.

    You may wish to pursue some college training; insurance companies often prefer college graduates, and some colleges offer courses or bachelor’s degrees in selling insurance. There are also professional organizations in the field that offer certification and continuing education in selling various types.
  • Analyze the costs. Along with education costs and fees from proper licensing, there are many hidden expenses in the business that you will need to consider, including:
    • Membership dues for professional industry associations
    • Office supplies and equipment, including computers, stationary and postage
    • Internet access and website hosting, as a great deal of insurance sales today are done online

    Category: Insurance

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