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Insurance Sales

I am looking at insurance companies as a possible first sales position. I was curious as to any recommendations (or companies to avoid) as far as life and health insurance companies are concerned.

Thank you, - by Dargo
I would recommend you talk with MassMutual Financial Group. They don't sell health insurance, but sell life insurance and a full range of other products. You can go to their website at www.massmutual.com. If you click on Become an Agent, you will get a lot of information about the process and what the job entails. Additionally, you can locate the office closest to you. - by GerryMyers
I did a few months with Bankers (Conseco?) years ago. Worked with some good people. I was unsuccessful in the endeavor for two reasons (now that I have the benefit of hindsight).

1. Failure to properly qualify the leads. This is paramount, imo. I know it's easy to get hungry and want to snap up anything that bites, but not every lead who grants you the appointment is going to qualify. They may have pre-existing conditions which would prevent them from being accepted or they may not have the budget for it. Then there are going to be the lonely elderly folks who would just like a sharp-dressed gentleman to stop in for a visit so they have someone to talk to. I had no shortage of appointments, but if you don't set quality appointments, you're going to waste a LOT of time.

2. Dedication to the process. I was more excited about the earnings potential than I was about the prospect of owning my own business. I pretty much put in my 8-5 and spent a couple Saturday mornings calling on leads each month. (See #1, above.)

Set goals for yourself right off the bat. I suspect you will be offered something of a mentor program where you can share appointments you set with seasoned agents. Take full advantage of that. Watch them in action. Get their input on how they qualify their leads. See about going along with different agents to get a feel for different styles.

Take your goals for number of appointments each week and consider them commitments. Tell yourself that this is what you need to grow your business and become successful. Then, when you find yourself staring at another dog-eared lead card, remember your commitment to this business you've begun, straighten up in the chair, consider yourself a damn professional, and dial that phone.

Life and Health can be tough. There is a reason why you can easily find half a dozen job listings in the paper each week. I haven't had insurance on my resume in something like four years and I STILL get emails from carriers looking for sales professionals. They all offer you the moon and stars, and many of them can deliver, but YOU have to commit to using the opportunity to dominate.

Good luck to you! - by D.M055
Thanks, gents. When I worked for Bankers, they had something like $23k quarterly bonuses. It was based on annual premiums on new contracts. Combined with commissions paid on renewals, it was a pretty sweet gig.

There was a guy in my office who had been a doctor, but wanted a change. He sought out medical colleagues and his familiarity with the industry allowed him to better anticipate and understand the needs and concerns of his prospects. In his first month, he managed to talk a prospect into dropping $750k into an annuity. He made $22,5 in commission on that one sale. Once he added $1500 annual premium to that number the following day, he maxed out the bonus scheme for that quarter. Essentially, he made $46k in one week.

Granted, this isn't much for an established medical professional, but it's a great start to a new career. L&H can get you there, but you have to be committed to the business. I'd go back, but I had this sinking feeling that I was somewhere between a lawyer and a car salesman, so I had my own hang ups. It's still on the back of my mind though. - by D.M055
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