Many newspaper ads may be placed hypnotizing potential agents, stating how easy it would be to make $100,000. They also emphasize that it is possible to make $100,000 in just one year. I would appreciate a nickel from the 1,500,000 licensed agents in life and health insurance who are unable to achieve this. If you are doing calculations, $75,000 Agents must reach at least the third or fourth level before they can earn $100,000 in income.
LEVEL ONE The insurance trainee is just starting out, and will continue for the first 12 month. This level is more about survival than earnings. Insurance trainee agents often drain their savings, ask for loan assistance from family members, or even get a second mortgage. Either the applicant should not have applied or the agency provided insufficient assistance to ease their burden. It is usually the latter. Only 20% of agents are able to get by without having to fight another long-lasting battle.
LEVEL TWO The insurance rookie will face three more years of difficult challenges. The picture shows survival, with enough income to avoid going bankrupt. Agent attitude and selling skills are key factors in the life saver. Finding the right people to concentrate your attention is key to selling skills. You want to find people who are comfortable in your zone and need an insurance product that you’re familiar with. This allows you to offer enough appointments. But, it is difficult to follow company-provided scripts when presenting.. Can the inexperienced agent make enough sales to earn a decent income? Only 8% of starting agents are still around.
LEVEL THREE These insurance innovators have over 4 years of experience and less than 8. They are innovators. They have broken almost all of the rules for success in their career companies to survive. They have also thrown out the company presentation book and sometimes replaced it with a plain yellow legal paper. They have thrown out the company presentation speech in favor of friendly conversations. An innovative insurance company uses a lead acquisition process that quickly finds the most qualified prospects. The agent is no longer an insurance salesperson. The prospect is now guided by him to create a customized plan that converts them into buyers. The insurance pioneer also has valuable clients that he can sell additional products to.
Few agents quit insurance as it is now a profession. Many agents specialize in selling less products. Many are now semi-independent, and some have their own businesses. Others may choose to go in a new direction with a company or firm that is more promising. The incomes of many people are comparable to or higher than the average national income.
LEVEL FOUR Insurance professionals at the top of their game. Many pros are completely independent. Many have signed contracts with six or seven independent life insurance companies. Others are semi-independent and have not yet taken that final step. Don’t assume all financial planners only serve wealthy clients. Many professionals sell long-term care plans and medicare plans to seniors. Others specialize in creating employee benefits plans for employer groups. The average income range is between $70,000 and $110,000
Insurance is not a profession that requires you to go to college for six to ten years to become a specialist. Your intuition and trial and error are the best ways to learn. There are not books, but there are some product-based continuing education courses. Your sales skills and the determination that few salespeople have will help you make your way in this industry. This is a path that you will not find any shortcuts in your insurance career.