Becoming an Insurance Professional: Things You Need to Know

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We all know how hard it is to find a job. Especially if you are looking for something that has higher pay and no qualifications are required. Being an insurance agent is one of those jobs that meet the criteria and you can do it at home as well. If you’ve recently been laid off or furloughed and you’re not sure what your next step should be, consider becoming a licensed insurance agent.

And when you think about a profession that is constantly changing and evolving, one of the first things to come to mind is that of an insurance agent. If you are looking for a career that offers endless opportunities, there are few that are better than what the insurance industry has to offer. Read on for some ideas from Banas & Fickert Insurance Agency.

Becoming an Insurance Professional

To become an agent, you will need a license through your state or province in order to sell policies. This can start with getting your license as an insurance producer by taking the licensing examination and meeting other requirements, like training hours and work experience requirements.

Another early step is to create a professional-looking resume. You should tailor your resume by including keywords in the skills section so that it’s the best fit for the type of insurance you plan to sell. Don’t forget to emphasize your credentials in the professional history and educational experiences sections. To learn more about the intricacies of drafting a winning resume, look for the best solution online for tips and advice.

An Insurance Agent vs. Broker

Kaplan Financial Education explains that an agent acts as an intermediary, providing buyers with information from the insurance company or companies that they represent. They have contracts with insurers that specify what policies they are allowed to sell and how much money they can expect to make from selling these policies.

A broker works closest with the client and helps them find the right insurance to purchase either directly from an insurance company or from wholesale brokers. While brokers can save their clients time and money, they usually have to pay a broker fee for those services.

Finding Leads

One of the most difficult aspects of an insurance agent’s job is finding new leads. Agents can generate leads by reaching out to prospects, networking through online sources, and contacting people in their social networks. Insurance Splash has some great ideas like raffles, fishbowls for business cards, and looking to your local chamber of commerce for networking events.

A more efficient way for agents to find and generate leads is by using a lead generation company. Lead generation companies offer agents access to a database of pre-qualified prospects and offer marketing resources to help agents reach these targets. These companies may also provide direct access to potential clients or customers, thus giving their clients access to a much larger pool of potential buyers than they could reach on their own.

Your Own Business

If your goal is to have an agency of your own, establishing an LLC is wise. As an LLC, your personal assets will be protected, plus there are other benefits, like pass-through taxation and flexibility for future growth. States have different regulations around forming an LLC, so check the rules in your state before moving ahead. You can use online business formation support to help walk you through the process easily and effectively.

Since person-to-person and word of mouth are the most personal and sincere forms of marketing, be sure you have plenty of business cards on hand. To avoid the time and expense of hiring professionals, use a business card maker to design and print your own. You can use your own logo, colors, fonts, and designs to customize them to suit your brand and your style.

The life of an insurance agent can be hectic and unpredictable. One day you might be at the closing for a home sale, and the next, you could be in court to represent a client in a lawsuit. If you’re looking for an interesting career in a growing field, and perhaps run it as an LLC, the insurance industry may be your perfect fit.