#Engagex insurance prospecting free

This is the most common type of life insurance, and it's popular due to its simplicity and low premiums. Here are some of the most common types of life insurance products. When you're considering a career selling life insurance, it's helpful to know the products you'll be selling. ‍ Types of Life Insurance Products to Sell

If you don't have good communication skills - or you aren't at least willing to develop them - life insurance sales may not be a fruitful career for you. You'll work with diverse people in presenting life insurance policies. Life insurance benefits are paid when the subscriber dies, so you'll need to be able to ask customers questions like 'If you died tomorrow, would your family be able to pay their bills and continue their lifestyle?' Not everyone finds it easy to be that direct with others when talking about a difficult and emotional subject. Because your compensation relies upon commissions, the more prospects you can locate and convert, the more money you will earn.

When selling life insurance, you're responsible for finding prospects and converting them to sales. If you have trouble asking others to complete financial transactions or make a commitment, life insurance sales could be challenging for you. Successful agents are able to communicate effectively with potential customers, in person, over the phone, or online. Life insurance sales earnings build over time, but it can take a while to get going.

That means that starting pay isn't as high as some other jobs, and your primary earnings are based on commissions for the policies that you sell. Life insurance agents earn their living on commission. You still need to work to maintain relationships and encourage ongoing renewals, but these ongoing commissions can add up to steady income.īefore you start a career in life insurance, it's important to consider a few downsides, too. Agents might earn as much as 100% of the first-year premiums for a life insurance policy, before dropping to more standard rates of around 5%.īecause life insurance policyholders tend to favor annual renewals, ongoing commissions can become a form of passive income for agents. Bureau of Labor Statistics, the number of insurance sales agents will grow by 7% per year between 20.īecause purchasing a life insurance policy is typically a long-term commitment, the commission for life insurance agents is much higher than for other types of insurance. As the population grows, so does the field of life insurance. Life insurance has been around since Roman times, and the first life insurance companies in the U.S.

#Engagex insurance prospecting free

Often, that means you're free to take off during the day and meet with a client in the evening or on a weekend. You need to be available when your clients and prospects are available. Life insurance sales isn't a typical nine-to-five job. Requirements vary by state, but attaining licensure and certification usually only takes a few weeks or months at most. You can get certified and licensed to sell life insurance without completing a degree program. Life insurance salespeople come from a wide range of backgrounds, and there are no specific educational requirements beyond a high school diploma. There are many of positives about a career in life insurance sales. Selling life insurance can be an amazing career, but you should consider how comfortable you are with some of the unique aspects of the profession first. ‍ Is Selling Life Insurance a Good Career?īefore getting started in selling life insurance, it's a good idea to consider the type of work you'll be doing. However, it's imperative to understand that those earnings are directly dependent on individual performance. With such high potential earnings, it makes sense that so many people gravitate toward this career path. The median wage for life insurance agents in 2020 was $52,180, while the top 10 percent of agents earned over $127,840 during that time. ‍ How Much Money Can You Make Selling Life Insurance? You'll learn some of the positives of life insurance sales, as well as the challenges that are part of the profession. In this article, we'll cover what it takes to succeed at selling life insurance. Still, it's not a career for everyone, and it's good to be informed before you jump in. If you've been seeking a career where you can set your own hours and interact with many people, life insurance sales will allow you to do both of those things. Diverse individuals from a wide range of backgrounds can be successful in the field. Life insurance sales can be a challenging profession, but it can also be financially and personally rewarding.