Life insurance manager jobs are characterized by high salaries and great job benefits. The second level of insurance manager jobs, life insurance managers, are not what most people think. These are the reasons you should not be a life insurance manager in a sales team.
Profit is the main motive for any life insurance company. A new branch opens and offers a general life manager with a guaranteed salary and a production bonus. This article will show you how other managers work in insurance.
The carrot leads a new sales manager to believe he is part the established money machine of the company. HE DOES NOT.
WHO IS WANTED TO BECOME LIFE INSURANCE MANAGER? A general manager in an office needs to grow sales. Two sales training managers is better than one, and three are better than two. This is where you start your search for these jobs in insurance management. The general life manager will be looking for people who are able to sell well and can make consistent sales. This is especially true when the general manager starts to give you company call-in leads for easy sales. An initial sublime bribe. After two years of experience, the general manager invites you to dine with him and asks if you’d like to move up to an insurance management position. You might be the next sales manager for life insurance.
You will earn a base salary as an insurance manager and additional sales production income. You will also no longer need to go out looking for new business. This means that you can stop making cold calls. Many times, health benefits are offered. Next comes the big career blockbuster. The company is expanding and the new general life managers for the office will be chosen from current life managers. This offer is not one that insurance agents could refuse.
WHAT A PROSPECTIVE LIFESTYLE INSURANCE MANGER IS NOT TOLD. Every agent that you hire will be a benefit to the home office of your sales company, particularly those who are productive and then leave. Your agent’s departure will result in your production bonus being stopped completely. All money not yet collected by the sales company from sales made by your agent who left is taken over by the new sales company. After your first two agents lose, the general manager comes up with a “new strategy just for you”. He assigns a few mediocre house agents (those without a sales manager) to your sales team. He will also budget funds in the Sunday papers for the next few months to bring in more interviews to help build your staff faster. You will soon find your job as an insurance manager flooded with interviews from dozens of potential new employees every week.
YOU ARE THE SLICK NEW SALES MANGER. You get your own office with a desk and chair. Your primary responsibility is to recruit enough reps so that you always have at least one dozen. Advertisements that portray an insurance salesperson with unlimited income and freedom of hours will always attract a lot of people interested, both employed and unemployed. You must also license them, if needed, and teach them the home office sales script. Budgeting your time is the hard part. While you don’t want to work for 13 hours a day, recruiting and in-office pre-training can eat away a lot of your time.
Insurance reps require their life insurance manager spend enough time training them outside of the office. This requires working with an agent for three straight appointments and following their lead. Although you do not receive any immediate compensation for the sales, it will be added to your monthly bonus. To be the best sales manager in your company, you must feel the inside pressure to move up. YOU CHEAT. You will often take the closing stage from your struggling rep and close the sale. This gives your salesperson the opportunity to make a sale and also gives you an extra notch.
The promotion to open your own sales office for your company never comes true.
WHAT YOU REALIZE SALES MANAGER WORKS FOR YOU. When a salesperson leaves, you can stop blaming your self. Then you start new insurance reps and help them to get sales. Your office general manager is no longer able to give you leads. You are now under pressure to contact family members and friends for presentations. Despite all the sales closing, your monthly income doesn’t increase. Your base salary is the same, and your bonuses are fairly stable due to 70% or more first-year agent turnover. Insurance management jobs are rapidly losing their prestige.
BACK to SALESPERSON. You will be surprised when you tell the office general manager that you would like to sell on your own and give up your sales team. His expression is unmoving. He has chosen your replacement and will be enticed by his new manager, unbeknownst to you. Your sales team will be by the new life insurance manager.
You will find that you have improved your ability to close sales by attending many sales presentations. Your commission income immediately exceeds your salary income as a manager. All of your experience in the higher levels did was to make it clear that you cannot cut corners with insurance reps. It is better to rely on your sales skills. You will find later that second-level insurance manager jobs are rare. Your manager job is actually managing your own business, which can be a very rewarding position.
