Selling life insurance can be a rewarding career, but how can you be a successful life insurance agent? An industry expert shares his advice
What makes a life insurance agent’s job rewarding? Having the opportunity to leave a positive impact on their clients’ lives, especially following a tragic loss. Doing so in a highly competitive field, however, can be challenging.
If you’re thinking whether this is the right direction for you careerwise, then you’ve come to the right place. In this article, Insurance Business will give you a walkthrough of how to become a life insurance agent. We will discuss the pros and cons of the job and give you a checklist of the professional requirements. We will also share insights from an industry expert into what it takes to succeed in this career.
Read on and find out if a career selling life insurance matches your skills and qualifications in this guide.
What does a life insurance agent do?
Life insurance agents are licensed industry professionals tasked with selling the policies of their partner insurers. They typically represent one or several insurance carriers, providing potential clients with information about these companies and the products and services they offer.
Agents also have contracts with their partner insurers detailing what policies they can sell and how much they can expect from selling life insurance.
1. Captive life insurance agents
Captive agents work exclusively with one insurance carrier. If you decide to become one, you can work either full-time for a life insurance agency or as an independent contractor.
One of the benefits of working as a captive life insurance agent is that you often get operational backing from your partner insurers. This can include office space, equipment, and administrative support. You may also receive leads and referrals on potential clients.