If you’re thinking about selling insurance, there are a few things you need to know. First, you’ll need to get your insurance license. Then, you’ll need to find an insurance company that’s willing to work with you. And finally, you’ll need to be able to sell insurance policies. In this blog post, we’ll explore what you need to do in order to sell insurance. We’ll cover everything from getting your license to finding the right insurance company to work with. By the end of this post, you’ll have a good understanding of what it takes to sell insurance.
What is insurance?
Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients’ risks to make payments more affordable for the insured.
Most insurance policies are designed to protect the policyholder from major financial losses, such as those resulting from death, disability, property damage, or medical expenses.
What types of insurance are there?
There are three types of insurance: life, health, and property and casualty. Life insurance covers the policyholder in the event of their death. Health insurance covers the policyholder in the event of an illness or injury. Property and casualty insurance covers the policyholder in the event of damage to their property.
What do you need to sell insurance?
If you’re thinking about a career in insurance sales, you may be wondering what you need to get started. The answer is: not much. In most cases, you’ll need a high school diploma or equivalent, although some companies may prefer that you have some college experience. You’ll also need to be at least 18 years old and have a clean driving record.
Once you’ve met these basic requirements, you’ll need to obtain a license from your state’s insurance department. The process for doing this varies from state to state, but in general, you’ll need to pass an exam on insurance laws and regulations. After you’ve obtained your license, you’ll be ready to start selling insurance!
-A license
In order to sell insurance, you must have a license. There are two types of licenses: a health insurance license and a life insurance license. A health insurance license allows you to sell health insurance plans, while a life insurance license allows you to sell life insurance policies. You can get a health insurance license by taking an online course or by passing a state-administered exam. To get a life insurance license, you must pass a state-administered exam.
-Continuing education
If you’re interested in a career in insurance sales, you’ll need to be licensed by your state. Most states require insurance agents to complete pre-licensing education through an approved provider before taking the licensure exam. Many states also require continuing education for insurance agents to maintain their licenses.
Pre-licensing education requirements vary by state, but most states require completion of 20-40 hours of coursework. The cost of pre-licensing education varies, but is typically around $300-$500. You can find approved providers and specific course requirements on your state’s insurance department website.
Continuing education requirements also vary by state, but most states require insurance agents to complete at least 10-20 hours of CE every year. The cost of continuing education courses is typically around $50-$100 per credit hour. You can find approved providers and specific course requirements on your state’s insurance department website.
How to get started in selling insurance
In order to sell insurance, you will need to obtain a license in the state or states in which you wish to do business. Requirements for licensure generally include completing an insurance pre-licensing course and passing a state-administered examination. Once you have obtained your insurance license, you will need to find an insurance company that is willing to appoint you as one of its agents. The appointment process usually involves completing an application and undergoing a background check. Some insurers may also require you to complete additional training before they will appoint you.
The different types of insurance agents
There are a few different types of insurance agents that you can work with. The first type is an independent agent. These types of agents are not affiliated with any one company and can sell products from multiple companies. They typically have more experience and knowledge than captive agents, which allows them to better advise their clients.
The second type of agent is a captive agent. Captive agents are only able to sell the products of the company they are employed by. Because they can only offer one product, they may not be able to find the best coverage for their clients. However, they usually have more training on the products they sell and can provide good customer service.
The third type of agent is a digital agent. These agents work exclusively online and do not have brick-and-mortar offices. They typically have lower overhead costs, which allows them to offer lower prices to their clients. Digital agents also usually have more flexible hours than traditional agents, making them more convenient for busy people.
The benefits of selling insurance
If you’re thinking of a career in insurance sales, you might be wondering what the benefits are. Here are a few key advantages of selling insurance:
1. You can earn a good income.
The average insurance agent earned $63,030 in 2019, according to the U.S. Bureau of Labor Statistics. The top 10% of earners made more than $116,940. That means there’s plenty of room to earn a comfortable living in this career.
2. You can work independently (or not).
Many insurance agents are independent contractors, meaning they work for themselves. This offers a lot of flexibility and freedom when it comes to setting your own hours and working from home or another location if you’d like. Of course, you can also choose to work for an insurance company if you prefer a more traditional job setup.
3. You can help people protect their finances (and feel good about it).
When you sell insurance, you’re helping people safeguard their finances against potential risks like illness, accidents, theft, and more. That can be incredibly gratifying work, knowing that you’re making a difference in people’s lives.
The challenges of selling insurance
There are a few challenges that come with selling insurance. The first challenge is finding customers who are actually interested in buying insurance. This can be difficult because most people do not like to think about death or other negative events that could happen to them. Insurance salespeople must be able to find these potential customers and convince them that they need to buy insurance in case something bad happens.
The second challenge is convincing the customer to buy the insurance policy that you are selling. There are many different types of insurance policies available, and it can be difficult to explain why one policy is better than another. Insurance salespeople must be able to understand the features of each policy and explain them in a way that the customer will understand.
The third challenge is keeping up with the ever-changing insurance industry. Insurance companies are always coming up with new products and changing their rates, so it is important for insurance salespeople to stay up-to-date on what is happening in the industry. This can be done by reading industry publications, attending conferences, and taking courses offered by insurance companies.
Conclusion
To sell insurance, you will need to have a good understanding of the products you are selling and be able to explain them to potential customers. You should also be comfortable working with numbers and have strong customer service skills. If you have these qualities and are interested in a career in insurance sales, then check out our insurance sales training program. It’s a great way to get started in this exciting and growing industry.
