What's a typical day like for an insurance agent?

Asked by: Leo O'Reilly  |  Last update: February 11, 2022
Score: 4.6/5 (23 votes)

A typical day for a life insurance agent involves actively pursuing potential clients by phone, mail, email, or social media; making presentations to clients or groups; and meeting with clients to discuss long-term goals and coverage options.

What are the daily duties of a insurance sales agent?

Duties/Responsibilities:

Explains various insurance policies and products to potential and existing clients; guides clients in selecting coverage to best meet their needs. Suggests modifications and updates to clients existing insurance policies. Builds customized insurance policies and packages to meet clients needs.

How do insurance agents spend their time?

Most insurance sales agents work in offices, although some may spend time traveling to meet with clients. Some sales agents meet with clients during business hours and then spend evenings doing paperwork and preparing presentations to prospective clients.

Are insurance agents happy?

Insurance sales agents are one of the least happy careers in the United States. ... As it turns out, insurance sales agents rate their career happiness 2.3 out of 5 stars which puts them in the bottom 2% of careers.

Is being an insurance agent a good side job?

For anyone with drive, ambition and an enterprising attitude, a job on the side in insurance sales can provide as much supplemental or discretionary income as you're willing to work for, and it's easy to do while still maintaining your regular source of primary employment.

What's a typical day like for a life insurance agent?

25 related questions found

Why do insurance agents quit?

Most agents quit because they can't get enough sales to support themselves and their families. The only way to change that is to learn how to get more leads, better leads, and follow up on them. People go on fact-finding missions online. They don't care who answers their question, as long as they get answers.

Can you make a living selling insurance?

The career of a life insurance agent is lucrative but involves constant hustling, networking, and many instances of rejection before a sale is ever made. Life insurance agents might be given a small salary to get started but are otherwise primarily dependent on commissions to make a living.

Is being an insurance agent stressful?

CareerCast ranked being an insurance agent 155th out of 200 on the worst jobs list. They rank the stress as “average,” whatever that means. A good income makes up for a lot of stress for many people, so that helps. ... That doesn't mean you won't be making warm calls.

Is selling insurance hard?

On the bright side, selling life insurance offers a few benefits difficult to find in other careers. First, life insurance sales jobs are abundant and easy to find. ... However, even when you locate a good prospect, the product itself is hard to sell. People are loath to discuss or even acknowledge their own mortality.

Who is the highest paid insurance agent?

Meet the world's highest earning insurance agent. What's this? Gideon du Plessis failed in the 10th standard and never went to college. He is today the highest earning insurance agent in the world, with annual commissions amounting to Rs 7 crore (Rs 70 million) plus.

What is the most profitable insurance to sell?

The Most Profitable Insurance to Sell
  • It should not come as a big surprise that auto insurance is the best selling and most profitable insurance product. ...
  • Property or home insurance typically covers anything that can pose a risk to your clients' property like theft, flood, fire, and inclement weather.

How much do insurance agents make per policy?

Annual commissions for auto insurance range from 10 to 12.5 per cent, although a few firms pay up to 13.5 per cent. Property insurance offers commissions of 20 to 23 per cent. So if you use an insurance broker and pay $1,000 annually to insure your home, upward of $200 a year would be going to the broker.

Do insurance agents make good money?

According to that data from the Bureau of Labor Statistics: The median annual wage for insurance agents was $48,150. The highest paid 10% of insurance agents earned more than $116,940 annually. The lowest paid 10% of insurance agents earned less than $26,120 annually.

Do insurance agents get commission?

Now, the commission that the insurance agents receive, from the insurance company, is a percentage of the premium. Since the premiums are low in a term plan, the commissions are low as well. Hence, the insurance agents are not keen to sell term plans as they cannot make good money out of it.

What is not a responsibility of an insurance agent?

Insurance agents do not have an independent duty to identify their clients' needs and to advise them regarding whether they may be underinsured because it is the client's responsibility or duty—not the insurance agent's—to determine the amount of coverage needed and advise the agent of those needs.

What skills do you need to be an insurance agent?

Below are some of the characteristics a successful insurance agent needs to complete their puzzle:
  • People Skills. People skills are the number one characteristic of a successful insurance agent. ...
  • Good Salesmanship. ...
  • Customer Service Skills. ...
  • High Energy Level. ...
  • Honesty. ...
  • Knowledge on a Variety of Products. ...
  • Choose the Right Carrier.

What is the best way to sell insurance?

Choose how you want to sell insurance.

There are two ways you can sell insurance after you earn your license. You can be a “captive” or an independent agent. Captive agents work for a specific insurance carrier and can only sell its insurance products to prospects and clients.

What are the challenges of being an insurance agent?

4 Common Challenges Facing Insurance Agents
  • The Pressure to Produce. ...
  • Not Enough “Luxury” Coverage Demand. ...
  • Being Cut Out of the Process. ...
  • Overcoming Negative Stereotypes. ...
  • Insurance Pre-Licensing Courses.

What career is the happiest?

The firm's data shows the happiest career sector is information technology, with a majority (73%) of workers reporting positive feelings. And surprisingly, some workers on which the pandemic took the heaviest toll were also among the happiest, such as doctors and teachers.

What are the best sales jobs?

Here are the best sales jobs and best marketing jobs:
  • Marketing Manager.
  • Sales Manager.
  • Insurance Sales Agent.
  • Sales Representative.
  • Real Estate Agent.
  • Telemarketer.
  • Retail Salesperson.

Which insurance company is best to be an agent for?

Here are some of the best insurance carriers that accept independent insurance agents.
  • National General Insurance.
  • Nationwide Insurance.
  • Markel Insurance.
  • Progressive Insurance.
  • Selective Insurance Group.
  • The Hanover Insurance Group.
  • Travelers.
  • West Bend Mutual Insurance Company.

Can insurance agents make millions?

Insurance agents can make more than a million dollars per year, but most don't because they focus on marketing to people they know and rely heavily on referrals. Insurance agents that obtain online insurance leads open the door to becoming financially free.

Can you become a millionaire selling insurance?

Is It Possible To Become A Millionaire Selling Insurance? A big yes. But like any other job, it takes time to be good at what you do and attain such income levels. Top agents earn anywhere between $100,000 to one million dollars.

Do insurance agents make residual income?

An insurance broker or agent will often earn a lump sum percentage against the first-year premium of a policy that they sell and then a smaller but ongoing annual residual income payment over the policy's life.