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
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.
- 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