8 July 2014 0 Comments

Should You Consider Selling Life Insurance?

shutterstock_173521946I never set out to be a life insurance agent as evidenced by my college major—Theatre Arts.  But, in 1960 at the age of 25, finding myself unceremoniously relieved of my duties as an assistant TV producer—and finding no other film company standing in line to hire me—I had to find a way to pay the rent and buy food plus an occasional beer.  So I answered a help wanted ad in the Los Angeles Times and in short time found myself selling life insurance for Bankers Life Nebraska; an easy decision since they offered me a monthly guarantee of $500-vs-Connecticut General’s $400.  I took the job and figured I’d give it a try until something better came along. 

That was almost 54 years ago and nothing better has come along, so I’m still at it.  I don’t recommend entering the life insurance business with such a halfhearted attitude because it is a career that, although   enriched with much satisfaction, can at times by drenched with rejection.  In the final analysis, it has been a great life for me!

If you are willing to find that most people are not interested in discussing their death, certainly not with you as a stranger, or you as a close friend since you’re likely to sell and run once you have washed out—if you have the stick-to-it-iveness—then give it a try because there is a shortage of good people to fill the openings.  My life has been financially rewarding and has provided me with a platform to help others; that’s not all bad.

So, how do you go about becoming an agent?  Here are three entry points:

  1. Some of the major Insurance Companies are hiring all the time.  Among those are Northwestern Mutual, New York Life, Mass Mutual and Metropolitan.  Call the manager of the local offices of a couple such companies and listen to what they have to say.
  2. Major, direct writers of all lines of insurance such as State Farm and Farmers are always looking for new agents.  Here, the approach would be geared more toward property and casualty insurance as a door opener with life insurance as a secondary sale.
  3. Independent marketing organizations that provide leads are always looking for new agents.  SelectQuote is my first choice for this category.

The advantages of the first two entrance points are that they ultimately provide you with an entrepreneurial environment.  The tough part is that you must develop your own prospects and prospecting is the hardest part of being an insurance agent.  With a marketing organization such as SelectQuote, the prospects are provided for you.  All three systems provide commission income commensurate with your selling success.  They all have methods to determine your aptitude for this career and will provide training and financing until you have had time to build up your own block of customers.

Interested?  Make a phone call or two.  What have you got to lose?

Next…Is there any reason to buy life insurance if you are single with no dependents?

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