Success Tips for Selling Life Insurance
Life insurance agents are in demand, according to a March 2010 article in the Wall Street Journal titled "A Hot Job for Hard Times: The Life Insurance Agent." Becoming a successful life insurance agent requires more than an outgoing personality. There are several success tips for selling life insurance that can help you generate revenue.
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Create Value
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According to the Wall Street Journal, in order to appeal to a potential customer, you need to create value for them. If you can help a customer save for retirement with the investment portion of a whole life policy, then that adds value to the insurance. Term life insurance is less expensive than whole life, but it expires when the term is up. The protection a 30-year term life policy offers a family with a new 30-year mortgage can add value for the family and help you close the sale.
Educate Yourself
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Selling life insurance requires a knowledge of the insurance industry and investment vehicles such as annuities and IRAs. Some states, such as the state of New York, require a life insurance agent to be licensed, and that requires at least 40 hours of classroom training. Get involved in ongoing education in the life insurance field to be certain you have the most up-to-date knowledge you need to offer your clients the right solutions. To gain clients' confidence and show that you stay involved in the financial industry, you also may want to consider becoming a certified financial planner as well.
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Show You Care
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According to the online insurance agent resource Advisor Today, life insurance sales are aided by customer referrals. Customers may be more apt to refer you to their friends and family if they feel you genuinely care about getting them the right insurance and that you have a passion for what you do. Spend time with your customers explaining why you sell life insurance and make appointments just to listen to their concerns and plans for the future. Make your customers feel as though their life insurance needs are important to you.
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