Potential clients often use comparison shopping tools online to learn about different policies and get information from insurance companies. Following is everything you need to know about a career as an insurance sales agent with lots of details. Launch your career and life to new heights with Bankers Life Bankers Life is looking for passionate and determined professionals who want to build a ... Insurance sales agents contact potential customers and sell one or more types of insurance. An agent explains various insurance policies and helps clients choose plans that suit them. As of 2014, to keep pace with prediction, the expected number of jobs was 452,500, compared with an observed value of 466,100, 3.0% higher than expected. Life insurance sales agents sell life insurance policies and annuities that pay beneficiaries when the policyholder dies. Property and casualty insurance agents sell policies that protect people and businesses from financial loss resulting from automobile accidents, fire, theft, and other events that can damage property. Many beginning agents fail to earn enough from commissions to meet their income goals. The Persuading interest area indicates a focus on influencing, motivating, and selling to other people. Bachelor's degree majors are shown. The link will open in a new tab so that you can come back to this page to continue reading about the career: ... insurance " when acquired by Prudential Financial for $3.5B in 2019. In most states, licenses are issued only to applicants who complete specified courses and who pass state exams covering insurance fundamentals and state insurance laws. Although this is expected to improve insurance sales agents' productivity, it is not expected to substantially reduce employment demand. Because the profitability of insurance companies depends on a steady stream of new customers, the demand for insurance sales agents is expected to continue. What They Do: Insurance sales agents contact potential customers and sell one or more types of insurance. They have to grow their business, do marketi… An aging population and changes in federal regulation may increase demand for agents who sell health and long-term care insurance. ... Insurance Broker Insurance Sales Agent Underwriting Sales Representative ... Keep up with the latest trends in career exploration, education, and job searches by subscribing to our e-mail newsletter. Insurance Sales Agents: Salary, career path, job outlook, education and more Education Required A high school diploma is the typical requirement for insurance sales agents, although a bachelor’s degree can improve one’s job prospects. Sales managers direct organizations' sales teams. Insurance sales agents need to actively seek out new customers in order to maintain a flow of commissions. Keeping clients happy so that they recommend the agent to others is a key to success for insurance sales agents. Insurance agents often have to do a lot more besides sell insurance. Insurance sales agents contact potential customers and sell one or more types of insurance. Most agents work full time and some work more than 40 hours per week. Information about insurance sales agent licensure is available from state insurance department websites. Sales Insurance Agent - Growth and Opportunity! Public-speaking classes can be useful in improving sales techniques, and often agents will have taken courses in business, finance, or economics. The tasks an insurance sales agent might complete in a typical day include: • Contacting potential individual and business customers to discuss their insurance … Clients can either purchase a policy directly from the company's website or contact the company to speak with a sales agent. For businesses, property and casualty insurance also covers workers' compensation claims, product liability claims, or medical malpractice claims. Advertising sales agents sell advertising space to businesses and individuals. Many agents spend a lot of time marketing their services and creating their own base of clients. Insurance agents can specialize – life, health, property and casualty are all lines that offer great opportunities. Job description and duties for Insurance Sales Agent. Life insurance is sold to be paid to beneficiaries when the covered person dies; health and long-term care insurance … Insurance Sales Agents Skills & Knowledge . Jobs are ranked according to their ability to offer an elusive mix of … For more information about insurance sales agents, visit, National Association of Professional Insurance Agents, For more information about insurance sales agents in the healthcare industry, visit, National Association of Health Underwriters, For more information about certifications, visit, The American College of Financial Services, For more information about securities licensure, visit, Financial Industry Regulatory Authority (FINRA). Many insurance agents agree they love the variety of work insurance sales provides. Securities, Commodities, and Financial Services Sales Agents, Wholesale and Manufacturing Sales Representatives, Direct insurance (except life, health, and medical) carriers, Direct health and medical insurance carriers, Call potential clients in order to expand their own customer base, Interview prospective clients to get information about their financial resources and discuss existing coverage, Analyze clients' current insurance policies and suggest additions or other changes, Customize insurance programs to suit individual clients. Listening—Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times. Quick Facts. The Series 6 exam is for agents who want to sell only mutual funds and variable annuities. Learn more about a career as an insurance sales agent (statistics from Bureau of Labor Statistics and Onet Online): $ Some sales agents meet with clients during business hours and then spend evenings doing paperwork and preparing presentations to prospective clients. Some agents involved with financial planning receive a fee for their services rather than a commission. Communication skills. Insurance Sales Agents. An agent explains various insurance policies and helps clients choose plans that suit them. ... People in this career often have these skills: Reading Comprehension - Understanding written sentences and … Demand for Insurance Sales Agents is expected to go up, with an expected 168,070 new jobs filled by 2018. Insurance sales agents explain various insurance policies and help clients choose plans that suit them. Multilingual agents may have an advantage, because they can serve a wider customer base. This indicates expectations for future employment trends are better than the 2012 trend within this occupation. This practice allows the new agent to learn how to conduct the company's business and to understand how the agency interacts with clients. Life insurance agents specialize in selling policies that pay beneficiaries when a policyholder dies. Insurance sales agents commonly sell one or more types of insurance, such as property and casualty, life, health, and long-term care insurance. Although most employers require agents to have a high school diploma, many agents have a bachelor’s degree. As a first step, take a look at some of the following jobs, which are real jobs with real employers. The pay is often on a straight commission, often at a high rate compared to other insurance sales jobs, in part because life insurance can be difficult to sell and prospective customers can be harder to find. Note: Depending on which text editor you're pasting into, you might have to add the italics to the site name. While the most successful agents in the nation make more than $1 million annually, many of those who sign on to sell insurance wash out within a year. Some insurance agents receive on-the-job training from other agents, learning how to conduct business and how the agency interacts with clients. Although most insurance sales agents work for insurance brokerages selling the policies of several companies, some work directly for a single insurance company. Insurance Sales Agent Jobs in Lowell, MA Insurance sales agents help customers find the best insurance policies to suit their needs and budgets. Here’s the thing about these jobs though — as a list, they’re kind of boring as hell. Many employers have new agents shadow an experienced agent. They can only sell policies provided by the company that employs them. Showing data from the American Community Survey for the following US Census occupation categories. Property and casualty insurance agents sell policies that protect people and businesses from financial loss resulting from automobile accidents, fire, theft, and other events that can damage property. Contributing Writer. Vacancies for this career have increased by 11.54 percent nationwide in that time, with an average growth of 1.92 percent per year. Insurance sales agents explain various insurance policies and help clients choose plans that suit them. Careers and Employment in Insurance Sales Insurance sales agent employment is expected to increase by 10% from 2016 to 2026, faster than all other occupations on average. Contributing Writer. This career … Most companies prefer to hire insurance sales agents who hold an associates degree or bachelors degree in economics, finance or business.If a high school graduate has experience in sales, they may be hired as an insurance sales agent. Insurance agents may work for a single insurance company or an insurance brokerage. They also may sell dental insurance and short-term and long-term disability insurance. Many job openings are likely to result from the need to replace agents who leave the occupation or retire. Most insurance agents work at least 40 hours a week. Linear extrapolation of the 2012 projection for 2022 results in an expected number of 498,400 jobs for 2024, 2.2% lower than the 2014 projection for 2024. They set sales goals, analyze data, and develop training programs for organizations' sales representatives. A career in insurance sales can be a real gamble even for someone with prior sales experience. Copyright 2020 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Insurance underwriters decide whether to provide insurance, and under what terms. Final Expense Insurance Agent - Licensed *Must be licensed at the time of hire* What if your job was more than just a paycheck? Use our Job Search Tool to sort through over 2 million real jobs. The amount of the commission depends on the type and amount of insurance sold and on whether the transaction is a new policy or a renewal. This practice somewhat reduces demand for insurance sales agents because many purchases can then be made without an agent's services. Because changes in tax laws, government benefits programs, and other state and federal regulations can affect clients' insurance needs and the way in which agents conduct business, employers often expect agents to take continuing professional education courses. (n.d.). Insurance sales agents must have a license in the states where they work. Insurance sales agents typically have an interest in the Helping, Persuading and Organizing interest areas, according to the Holland Code framework. Captive agents are insurance sales agents who work exclusively for one insurance company. Independent insurance agents work for insurance brokerages, selling the policies of several companies. Insurance sales agents should be confident when making "cold" calls (calls to prospective customers whom they have not contacted before). Property and casualty insurance agents sell policies that protect people and businesses from financial loss resulting from automobile accidents, fire, theft, and other events that can damage property. If the monotony of doing the same work over and over is unappealing, a career in insurance sales is definitely a good option for you. They evaluate insurance applications and determine coverage amounts and premiums. Self-confidence. Business knowledge is also helpful for sales agents hoping to advance to a managerial position. "Insurance Sales Agents" accessed December 02, 2020. https://careertrend.com/insurance-sales-agents.html. Self-confidence. In this career quiz, there are 10 questions that will give you a pretty good perspective on whether the career of an Insurance Sales Agent is right for you. Although most insurance sales agents work for insurance agencies and brokerages, both of which sell the policies of several companies, some work directly for a single insurance company. These certifications are not required for employment, but they can give job candidates an advantage over other applicants. Related Careers: Compare the job duties, education, job growth, and pay of insurance sales agents with similar occupations. Insurance sales agents typically do the following: Insurance sales agents commonly sell one or more types of insurance, such as property and casualty, life, health, and long-term care insurance. You will be able to see the very real job career requirements for employers who are actively hiring. Explore work conditions, salary, career outlook, and more. Agents must be licensed in the states where they work. They often work evenings and weekends to work around client schedules. They’re pretty much exactly what you’d expect a lot of former insurance agents to do. Separate licenses are required for agents to sell life and health insurance and property and casualty insurance. Job Outlook: Employment of insurance sales agents is projected to grow 5 percent over the next ten years, faster than the average for all occupations. Securities, commodities, and financial services sales agents connect buyers and sellers in financial markets. This indicates current employment trends are better than the 2012 trend within this occupation. They contact customers, explain the features of the products they are selling, negotiate prices, and answer any questions that their customers may have about the products. Insurance sales agents should be confident when making “cold” calls (calls to prospective customers whom they have not contacted before). Agents must be licensed in the states where they work. In addition, insurance terminology is often technical, so agents who have a firm understanding of the relevant technical and legal terms also should be desirable to employers. Agents must be licensed in the states where they work. May refer clients to independent brokers, work as an independent broker, or be employed by an insurance company. Insurance sales agents, commonly referred to as producers in the insurance industry, sell one or more types of insurance, such as property and casualty, life, health, disability, and long-term care. Although most insurance sales agents work for insurance agencies and brokerages, both of which sell the policies of several companies, some work directly for a single insurance company. Find schools for Insurance Sales Agents near you! Insurance sales agents sell different types of insurance coverage. Life insurance agents also sell annuities that promise a retirement income. Employment of insurance sales agents is projected to grow 10 percent from 2018 to 2028, faster than the average for all occupations. How to Become One: Although most employers only require agents to have a high school diploma, many agents have a bachelor’s degree. They match insurance policies for their clients with the company that offers the best rate and coverage. Most insurance sales agents work in offices, although some may spend time traveling to meet with clients. Separate licenses are required for agents to sell life and health insurance and property and casualty insurance. A portion of the information on this page is used by permission of the U.S. Department of Labor. This occupation supported 443,400 jobs in 2012 and 466,100 jobs in 2014, reflecting an increase of 5.1%. Although most employers only require agents to have a high school diploma, many agents have a bachelor's degree. Personal financial advisors provide advice on investments, insurance, mortgages, college savings, estate planning, taxes, and retirement to help individuals manage their finances. Also Insurance Sales Agent Jobs. Separate licenses are required for agents to sell life and health insurance and property and casualty insurance. They contact potential clients, make sales presentations, and maintain client accounts. Insurance sales agents learn many of their job duties on the job from other agents. A number of organizations offer certifications that show an agent's expertise in insurance specialties. Employment of insurance sales agents is projected to grow 9 percent from 2014 to 2024, faster than the average for all occupations. Many customers lack the time or expertise to study the different types of insurance to decide what they need and will continue to rely on advice from insurance sales agents. Create a job alert for Insurance Sales Agents. The Helping interest area indicates a focus on assisting, serving, counseling, or teaching other people. Attend meetings, seminars, and programs to learn about new products and services, learn new skills, and receive technical assistance in developing new accounts. While life insurance sales has a reputation for being an easy field to enter, that’s not always the case. Most Important Skills for Insurance Sales Agents. However, agents will still be needed to help clients understand their options and choose a policy that is right for them. Employment of insurance sales agents is projected to grow 5 percent over the next ten years, faster than the average for all occupations. The average salary for an Insurance Sales Agent in Australia is AU$51,055. Learn more about our methodology . Many clients do their own research and purchase insurance online. For people and businesses, they sell policies that cover financial loss due to accidents, fire, theft, and other events. Answer “Dislike” if you tell yourself “Ugh… Sounds boring” or “I’m not sure” Health and long-term care insurance agents sell policies that cover the costs of medical care and assisted-living services for senior citizens. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less.
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