He starts it up and drives it around the block, making mental notes of the quiet, comfortable ride and superb handling. Complete your state's requirements for becoming an insurance sales agent. While the insurance agents that most people are familiar with work for one private insurance company, independent agents handle policies offered by many different companies—but ultimately work … Apart from licensing and product knowledge, being a successful independent insurance agent requires having the right personality for the job. 15,453 Independent Life Insurance Agent jobs available on Indeed.com. During this stage, you will need to determine the type of legal structure behind your business. “My number one tip to becoming an insurance agent is to be an independent agent, don’t go captive and don’t quit your day job. ** Schedule your PHONE INTERVIEW with us today to find out how to become a top producer! 5. Research The Field Extensively. 6. To keep a constant flow of names available, and to avoid spending too much time with individuals who are perhaps being polite but are uninterested, a successful agent needs to implement a sound method of finding fresh ears for an insurance discussion. The 2018 Midwest Insurance Leadership Conference will be held at the Embassy Suites in Lincoln, NE, and runs from Thursday, May 10 – Friday May, 11. A few of these could possibly include recurring certifications, licensing exams, multiple licenses for different types of insurance, or continuing education courses. Copyright ©2021 Midwest Insurance Agency Alliance - MIAA | Become an Independent Agent with Increased Revenue | All Rights Reserved, Every year, MIAA hosts an annual Insurance Leadership Conference. Do not be offensive or pushy. The most common is they simply cannot make a living. With the Assurance platform you are empowered to sell insurance whenever, wherever, and however you want. Final expense insurance is a whole life insurance policy that has a small death benefit and is easier to get approved for. The message, whether verbal or written, needs to communicate that those who are interested in solidifying the sound performance of their financial affairs should use life insurance as a means to that end. The lifestyle of an agent is not conducive to a typical 40-hour work week. 8. Independent insurance agents sell one or more types of insurance, such as life, health, and property & casualty. Apart from traditional education, seminars and conferences present a great wealth of knowledge when it comes to networking with other insurance agents and agencies. Life insurance, by contrast, offers no such instant gratification. For health insurance, it is up to 7%. Some states require you to take a licensing course and pass an exam, but truthfully, these are relatively easy. An agent's beginning years may require weekend hours, later hours during the week and trips to clients who do not purchase an agreement or need to be met for non-income-producing reasons. The presence of an enticing product the customer can see, touch and smell makes the salesperson's job much easier and often leads to an impulse purchase by the customer. Established in 1810, The Hartford is one of the most recognized and respected insurance companies in the world. All the while, the salesperson conducts psychological judo from the passenger seat, ensuring the prospect that for a low monthly payment, he can be done with his old car and upgrade to this superior driving experience in minutes. 2. Simply getting your prospect to acknowledge and discuss the fact they are going to die is a hard first step. If you’ve already got your business established but are looking to grow big without gutting your independence, MIAA is perfect for you. A calculated, effective business plan will enable you to secure loans, financing, and ultimately, the location of your business’ operation. Roadside assistance. Although a college degree is not required to become an independent agent, it can serve as an invaluable resource and set of tools for the future. In order to sell Life and Health insurance, you must become licensed. By the time you get your first stack of company leads, they may have been called by a half-dozen ex-agents already. A few companies do offer their sales reps employee status, which comes with a small base salary and benefits. You need to make sure that you sign up for “as earned” contracts and stay away from any type of advance on your commissions, and grow your business over time. Becoming an independent insurance agent takes little more than passing the license exam to have an insurance license, but becoming a successful independent insurance agent requires much more. Becoming an independent agent gives you the ability to represent multiple carriers to better fit your clients’ unique needs. Review your state’s licensing requirements. An agent should consider what the individual client's needs are before the meeting and direct their language in a manner that relates the client's needs to the benefits of the products. For instance, if a client previously told an agent that their family was looking to expand with another child in a few years, the agent should explain to the client how the policy is structured with a new baby in mind. In order to begin work as an Independent Insurance agent, you will need to be licensed in the state or states in which you wish to sell insurance. Being an independent agent means that you have the flexibility to work the way you want to, and insurance sales agents are always in demand. When new agents quit, their managers often redistribute the leads they were assigned to the next batch of new hires. 1. Next, after a cursory introduction from the salesperson, he climbs behind the wheel of a new car, takes in the new car smell, and admires all the gadgets and features his present vehicle does not have. This is passive income you receive each month without even having to get out of bed. It can be wise to focus solely on becoming an expert in a single branch of insurance. Second, life insurance sales jobs are abundant. Professionals are highly articulate and able to cater their messages to their audience. The message clients receive should be that life insurance exists on the same importance level as stocks and bonds. (For related reading, see: What are some training and development techniques used to improve interpersonal skills?). 9. The rate increases to greater than 95% when extended to five years. Becoming an independent agent is like starting your own business, which basically means, you will have to have a fair knowledge and adequate experience in this field, including the types of policies offered, the state’s laws and legislations, your market and other company laws. As you might imagine, there are a few legalities involved with becoming an independent insurance agent. The 2018 Midwest Insurance Leadership Conference will be held at the Embassy Suites in Lincoln, NE, and runs from Thursday, May 10 – Friday May, 11. Hiring Motivated Independent Life Insurance Agents! A professional understands the products to the point that the reasons given are sound. ** We are proud to be known for paying agents more than anyone and giving back as much as possible. Apply now "Relationships are critical in this industry, and Safeco has continuously been a partner we can count on." Agent advice becomes even more important to clients when it is coming from an independent agent who offers more choices. To consistently deliver new avenues of leads to counteract the high rejection and pass rate, an agent needs to seek out new opportunities as if the old ones did not happen. A lot of insurance companies recruit new agents with the promise of abundant leads, but once they're on the job, these agents find the leads are nowhere near as plentiful as the company suggested. Leaving the appointment without signed paperwork almost always means you have lost that prospect forever. Are you planning on being the sole proprietor, or will you need a different legal structure to support a partnership and/or possible employees? Captive - An agent that represents only one company and effectively is under the control of that Company. It’s Too Late to Change Careers. Property & Casualty Insurance License – Car Insurance, Home Insurance, Business Insurance, etc… Life & Health Insurance License – Life Insurance, Annuities, Health Insurance, etc… Most insurance agents … Reach out today to learn how you can become instantly big!