The COVID-19 pandemic contributed to a decrease in life expectancy in the United States for the first time in decades, according to the Centers for Disease Control and Prevention (CDC). After climbing steadily for many years, life expectancy fell by 1.5 years from 2019 to 2020 – the largest one-year dip since World War II, when it declined by 2.9 years between 1942 and 1943. Life expectancy at birth for the total population declined from 78.8 years in 2019 to 77.3 years in 2020. The grim prospect of mortality, as well as the financial havoc wrought by the pandemic, has led many people to consider protecting their loved ones with life insurance. A survey by Life Happens and LIMRA published...
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Whether you sell life insurance, mortgage protection, disability and critical illness insurance, or Health Spending Accounts, the goal is the same: grow leads and increase sales. The good news is that you are in a sales career that offers multiple ways to grow your business relatively inexpensively. Here are 8 powerful insurance broker sales tips that will assist you in closing deals. 1. Listen More, Talk Less As tempting as it is to sit down and begin explaining all the benefits of your insurance policies and plans, the best thing you can do is let the prospect lead the discussion. Instead of pitching your product, sit down and ask the person you are speaking with about their lifestyle....
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The Pros and Cons of Being an Independent Insurance Agent Maybe you’re considering becoming an independent insurance agent because you want more control over your income potential or your day-to-day business activities. Perhaps you feel underused or underpaid or not respected at your current place of employment. You dream of becoming your own boss. Or it could be that you’re just out of college and exploring all of the many options the work world might offer you. Whatever the reason, you’re looking into a career as an independent life insurance agent. At Bluefire Insurance, we welcome your interest — but we also know that this career path isn’t for everyone. That’s why we candidly...
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Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture. This position is responsible for driving life insurance revenue in support smaller sales opportunities, particularly lifestyle protection solutions – term insurance, disability insurance, critical illness, and immediate annuities – within their assigned region. The incumbent will work with advisors across all business lines to raise awareness of these important solutions, as well as partner with the Senior Insurance Consultants who also support those advisors to ensure that, together, they provide comprehensive sales support in a way that leverages their skills and maximizes their...
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Modern consumers expect to be able to buy pretty much everything online, directly from the source. It’s the direct-to-consumer sales trend, and it’s impacting the insurance industry just like it’s impacting retailers. Insurers should act now if they want to grab their market share. Today’s consumers are tech-savvy and independent. Whether they’re doing home improvements or drafting their last will and testament, many take a do-it-yourself approach. In insurance, this means cutting out the middleman – i.e., the agent or broker – and purchasing coverage directly from the insurance company. The result? The D2C market is booming. If you’ve been paying attention to insurance studies, you’ve...
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Direct-to-consumer sales drive growth in whole life policy sales. WINDSOR, Conn. March 18, 2021—While total life insurance new annualized premium fell 3% in 2020, the number of policies sold in 2020 increased 2% for the year, driven by strong whole life and term sales, according to LIMRA’s U.S. Individual Retail Life Insurance Sales Survey. “In 2019, fourth quarter premium jumped 15% ahead of the mandatory adoption of the 2017 CSO tables and principle-based reserving that would be implemented on January 1. said Elaine Tumicki, corporate vice president and director of LIMRA’s Insurance Product Research. “As a result, LIMRA projected overall premium to normalize...
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Cookie settings Click on the types of cookies below to learn more about them and customize your experience on our Site. You may freely give, refuse or withdraw your consent. Keep in mind that disabling cookies may affect your experience on the Site. For more information, please visit our Cookies Policy and Privacy Policy. A successful career in Insurance relies heavily on nurturing relationships and building a solid reputation. It’s not just about seeing a sales opportunity when it’s there, it’s about seeing a need and being able to address it. Now, you kinda have to do the same to charm the recruiters with your insurance agent resume—you have to understand what they...
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Insurance agents represent insurance companies to sell life, health, property, vehicle, and other types of insurance to consumers and businesses. Over half a million insurance agents are operating across the US. The sector is expected to grow faster than the US average; in 2019, the insurance agency workforce was forecast to undergo 5.49% growth over the next decade, compared to 3.71% national growth. The Covid-19 pandemic led to a surge in customers seeking life insurance policies from insurance agents in the US. Travel insurance has become more popular in recent years as Americans are traveling more than ever before; for instance, 2016 saw a 19% jump in spending on travel insurance. The...
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Generally, an insurance agent makes money via commissions. It’s the most common form of compensation for insurance agents. The commission amount depends on the type and quantity of insurance sold. Whether it’s a new policy or a renewal also plays a part in determining the commission. A majority of agents sell home, auto, life, and health insurance. Insurance carriers provide agents with a percentage of the premium and renewals for selling home and auto insurance. Life and health insurance policies, on the other hand, yield a larger percentage of the sale when a client first signs up. Agents can also make money from renewals, but not as much as from new policies. For instance, let’s say...
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Do you have a desire to help others in your Florida community? Are you able to connect with people from all walks of life? If you answered yes, that’s great news for your sales career: Companies in the Sunshine State that are looking to appoint new insurance agents are seeking people with these qualities. In addition to meeting state insurance licensing requirements, you’ll need some other key assets, such as diligence, discipline and adaptability. You’ll need to hustle to be an insurance agent in Florida – but that doesn’t mean that the work itself is out of your reach. Just ask Brianna Rowe, a growth strategist who trains Aflac agents and who began her 15-year Aflac sales career as...
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