re: Any of you guys ever sell life insurance or health insurance?

Right now is not the best time to be doing it. People are having trouble with their homeowners and auto insurance, life insurance just isn't something that's important to people right now. If you want to sell it, you have to find the way to make it important.

You see the this watch? It cost more than your car. Thats who I am pal.

I do this for a living. Started out selling home and auto then transitioned to final expense/burial insurance on my own as a 1099 contractor solely over the phone while buying leads in 19 states. That was a mix of highs and lows - when I was doing well I was earning $20,000 a month but when I was doing badly, I was $7,000 in the red. Times were great and times were tough.

I then started doing only term for a national online broker and I excelled, becoming a top 5 agent in the company out of 70ish.

The problem with life sales is compensation plans change CONSTANTLY. I went from earning $140,000 a year with full benefits and retirement to barely making $70,000 with partial benefits.

I left to go to another national broker (both of these brokers are ones everyone has heard of and seen commercials/ads for). I went to this new one for better a schedule. I was on track for $165,000 a year and became another top five agent in the company but then BAM - comp plan changed drastically and forced me out.

I briefly went back to the P&C side to train Allstate agents. This was a complete disaster so I actually just accepted an offer to sell life and health for another broker but this time it’s a smaller one, though it has a very specific niche market and my salary before bonuses and incentives is higher than ever before - to the tune of a $30,000 a year raise before bonuses.

Problem with this industry is you bounce around a lot unless you are the 1% of life/health agents out there who are 1099 and actually find consistent and high success. That’s hard to do even with a ton of experience because you need $50,000 or more to spend on leads and marketing each and every month. Most individuals can’t do that and need to work for an employer.

The job is easy. Learn the product and truly have the customer’s best interest at the forefront of your mind (this is a legal requirement that most agents and even many employers in this industry don’t do) and you’ll be successful. Lead into every conversation you have with the heart of a teacher - find out what the customer knows, what they are looking to do, and what their full situation is and give them a solution. More importantly, tell them when you don’t have a complete solution for them and they’ll appreciate that, even refer others to you down the road because they now know you’re honest. Honest insurance agents are hard to come by.

Last advice - don’t focus solely on whole life. Permanent products are absolute trash for 99.9% of the population. If you try to push this, the customer will hear the desperation in your voice and smell the commission breath through the phone. Offer mostly term and work with multiple A+ rated carriers then offer SOME whole life as a complimentary service.

Above all else:
Learn the product you’re selling. Be confident while talking about it and you’ll always have success.

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got my insurance license, and I’m trying to make some supplementary income on the side.

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I'm licensed in P&C as well as L&H.. I refer out L&H out because it's just not fun to sell to people. The best way to sell these products is by referral relationships.

I'd also look at supplemental insurance like short term disability and such.. might be an easier sell for a part timer

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ABC

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AIDA

Have you made your decision for Christ!?

I had to get licensed for everything except auto coverage when I 1st got out of college. Management Trainee for at the time the worlds largest consumer loan company (ITT Financial, 1500+ branch offices) was required to get licensed to sell life, a/h, property, marine. I was really good at getting the stuff added into the loan for a few $ a month.

The few times customers needed it was worth the selling overall. Had a guy crippled in a car wreck that the insurance paid essentially the entire loan as I think he made 1 payment before the wreck. Another guy died with us holding a 2nd mortgage, insurance paid off the loan and his family got $100K as he had both credit life and a personal policy.

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refer out L&H out because it's just not fun to sell to peopl

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I did Life ins. for a little bit out of college. It was tough sledding and depressing tbh. I would not recommend unless you truly enjoy a grind and can tap into some type of market through referral. People dont want to take time out of a busy day to incur additional premium even if they desperately need it. People can get a policy online now so it makes a sales guy mostly irrelevant.

M
Do you have Long Term Policies or Nursing Home Policies??

It is a Numbers Game, the more calls you make the better, if you are going to be successful, you CANNOT ALLOW THE NO’s bother you.

I sold Life Care Communities for 30 years, very successful made a Fantastic amount of Money.

Get a Booth/Table at as many Shows you can handle

I could teach you how to be successful, if I had the time

Good Luck buy work hard make your own Good Luck

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I can't imagine any scenario where whole life is a good product

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It’s almost always a bad product but some people absolutely insist on getting it instead of term regardless of how much I try to advise against it. At some point I as an agent have to put my hands up and sell a whole life product because the dumbass insists on it. I’m not going to turn away business as long as I am on a recorded line actively advising against it based on specific reasons. I do that and they still want it, I’m selling it.

Baw might get a set of steak knives if he’s lucky