If you’ve made the decision to develop a career in insurance product sales, congratulations. You have made a decision that can have a positive impact on your future, your finances, and your family.
I wish I didn’t have to tell you, but you have also made the decision to present one of the most difficult experiences you will ever have.
Disappointment. And why do I say that?
Because the longer you stay in this business, the more likely you are to say “I’m ready to stop selling insurance.” But why? Why do more than 80% of agents who are licensed and work for insurance companies quit in the first year? Let me give you some reasons to consider:
1) Rejection by Potential Customers: You will need tough skin to succeed in this business because you will hear the phrase “no thanks” so many times that you will start to think it is your first name. Generally, people do not run out of money to buy insurance. They must be convinced that it is something they should seriously consider now. The only customer who knows for sure that insurance is important is the person who has experienced an uninsured death or illness first hand. That won’t be the majority of your customers, so they’ll say not often. Let us know!
2) Financial Insufficiency: Most insurance companies are extremely wealthy. A big part of that reason is that they are an industry that gets most of its business from salespeople, but they don’t guarantee wages. If a seller doesn’t make a sale, they don’t get paid. This means that as a salesperson you need to have the financial resources to go to work every day, keep your car running, pay for phone service, do your laundry to make it look good in front of customers, pay your house bills. and eat while not receiving. a penny for your efforts. Most of us cannot afford to go to work every day and meet our living expenses without money coming to us.
In some policies, you can be paid fairly quickly, while in others it takes weeks. So a new agent is expected to do whatever it takes to write and present business. However, he does not receive money. It is not long before you exit the insurance business and accept a job with more financial stability.
3) Managerial Incompetence – One of the most difficult challenges for a sales agent is working with an incompetent manager. Many times, insurance companies promote the managers of salespeople who did well in sales. However, sales and management are two different animals. May be an excellent salesperson but not knowing anything about management. I’ve worked with managers who thought their job was to push you to sell. Salespeople need career guidance to keep them focused on the goal; earn money as fast as possible.
Do not give up. Find out how to win and fight until you do.
