There are a lot of myths and misconceptions out there about life insurance sales. So we’re busting the top 10 myths about life insurance sales! If you’re thinking about a career in life insurance sales or if you’re already working as a life insurance agent, read on to learn the truth about what it takes to be successful in this field.
Your Job As An Insurance Agent
Your job as an insurance agent is one of the most important in the industry. You’re the person people turn to when they need help understanding their life insurance policy or when they have questions about how to make a claim.
But being an insurance agent isn’t always easy. There are a lot of myths and misconceptions about the life insurance sales industry that can make your job harder or scare those away who may be considering becoming an insurance agent.
Myth 1: Life Insurance Sales Is A Dying Industry
This is one of the most common myths about life insurance sales. People think that life insurance is no longer relevant because we’re living longer and healthier lives.
However, this couldn’t be further from the truth. The life insurance industry is actually growing at a rapid pace. Worth $1.28 trillion as of 2020, the U.S. Insurance industry is a huge part of the economy. The Insurance industry grew by nearly 13% between 2020-2021. So, if you’re thinking about a career in insurance sales, rest assured that the industry is alive and well.
Myth 2: You Need To Be An Extrovert To Succeed In Life Insurance Sales
This is another myth that could not be further from the truth. To succeed in life insurance sales, you do not need to be an extrovert. In fact, introverts can oftentimes be more successful than extroverts in this industry.
Why? Because people who are shy or introverted are often very good at listening. And when you’re selling life insurance, it’s important to be a good listener. You need to take the time to understand your client’s needs before you can sell them a policy that meets those needs.
Myth 3: You Need To Be Aggressive To Succeed In Life Insurance Sales
Hard selling is when you use high-pressure tactics to get someone to buy a product or service. And while it’s true that you do need to be persuasive when you’re selling life insurance, hard selling is not the only way to succeed.
In fact, most people who are successful in life insurance sales use a consultative approach. This means that they take the time to get to know their clients and understand their needs before recommending a policy.
Hard selling might work sometimes, but it’s not a sustainable or effective long-term sales strategy.
Myth 4: You Need To Have A Lot Of Experience To Be Successful
This is another myth that could not be further from the truth. You do not need a lot of experience to succeed in life insurance sales. In fact, many of the most successful insurance agents are new to the industry. They’ve been able to find success by studying hard, staying focused, and building a strong work ethic.
Don’t let this myth discourage you from pursuing a career in insurance sales. If you’re willing to do the work, you can be successful, regardless of your experience level.
For more articles on how to sell life insurance successfully, click here.
Myth 5: Life Insurance Sales Is A Numbers Game
This is a common misconception about life insurance sales. Some people think that the only way to succeed in this industry is by selling as many policies as possible. However, this is not true. While it’s important to sell a lot of policies, it’s more important to sell the right policies.
What do we mean by the right policies? We mean policies that meet the needs of your clients. If you’re only focused on selling as many policies as possible, you will likely end up with many unhappy customers.
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Myth 6: Life Insurance Sales Is A High-Pressure Job
It’s true that life insurance sales aren’t for everyone. But that doesn’t mean the job is automatically high-pressure. In fact, many life insurance salespeople report feeling a great sense of satisfaction from helping their clients plan for the future.
Life insurance sales is a very competitive industry, and the vast majority of successful salespeople are able to maintain a high level of customer service and satisfaction. And while it’s true that some life insurance policies can be complex, many companies offer extensive training to help their employees understand the product.
Myth 7: Life Insurance Sales Is A Dead-End Job
This is another myth that could not be further from the truth. While it’s true that some insurance agents do stay in the industry for their entire careers, many others move on to other things.
In fact, life insurance sales can be a great stepping stone for people who want to enter other industries. Because insurance sales require strong communication and interpersonal skills, it’s a great way to develop these skills. And these skills are transferable to other industries.
So, if you’re thinking about a career in insurance sales, don’t let this myth discourage you.
Myth 8: The Only Way To Succeed Is By Cold Calling
This is another myth that could not be further from the truth. You do not need to rely on cold calling to succeed in life insurance sales. In fact, many of the most successful agents use other marketing channels, such as online marketing or word-of-mouth referrals.
Cold calling can be an effective marketing tactic, but it’s certainly not the only way to succeed in this industry.
Myth 9: You Need To Have A Lot Of Money To Start A Career As An Agent
This is another myth that could not be further from the truth. You do not need to have a lot of money to start a career in life insurance sales. In fact, many insurance agents start their careers with very little money.
All you really need to get started is a strong work ethic and the willingness to learn. If you have these two things, you can succeed in this industry, even if you don’t have much money.
Myth 10: There’s No Room For Creativity As An Insurance Agent
This is the final myth on our list. And it’s one that we hear a lot. Some people think that life insurance sales is a boring job. But nothing could be further from the truth. Insurance sales is actually a very exciting job. It’s fast-paced and ever-changing. And it allows you to help people in a very real way.
So, if you’re thinking about a career in insurance sales, don’t let this myth discourage you. It’s a great industry with many growth and success opportunities.
Recap: The Truth About Taking A Job In Life Insurance Sales
Working as an insurance agent can be great for the right person. It’s certainly not for everyone, though. While it is true that insurance agents do need to sell policies in order to earn a commission, there is more to the job than just that.
Insurance agents also help their clients navigate the claims process after an accident or other incident. They can provide valuable guidance on which type of policy would be best suited for a particular client. In other words, insurance agents play an important role in protecting people and their financial future.
If you are interested in learning more about becoming an insurance agent, let’s connect. Whether you are a busy mama, had success in the corporate world, or are a military spouse, you have the perfect skill set for the job. We are always looking for new talented, and driven insurance agents to join our team. Contact us today!
You can find more articles about how to become a life insurance agent here.
