Selling life insurance is a lucrative business that can pave the way to retirement but many agents don’t last long falling into common pitfalls that are avoidable if they only knew.
MISTAKE 1: Don’t be a Super Ball
When agents enter the business the first tendency is to bounce around from carrier to IMO to carrier to lead company and so on. Much like a super ball, agents never generate traction because they are bouncing from opportunity to opportunity never giving any of them enough time to blossom. Don’t be a super ball, stick with what you try long enough to learn and grow.
MISTAKE 2: Not focusing on appointment setting
Appointment setting is the catalyst for the sale and life insurance agents need to master this skill or they will not succeed. Many agents try to avoid setting appointments opting for others to do it for them whether they hire an employee or company to set appointments. Delegating appointment setting and not setting your own appointments is a big mistake that should be avoided. Master the skill of appointment setting and watch your sales volume spike.
MISTAKE 3: Failure to find a good lead source
One of the hardest parts of becoming a successful independent life agent is finding a good lead source. Many sources on the internet are there to sell you recycled and shared leads. You need a company that views themselves as your partner in sales production that is dependable and reputable. Never work with a company that shares your leads or your lead territory. Learn more at http://www.voiceleads.us
MISTAKE 4: Not buying enough leads each month
In this industry you need to have the mentality of, “I purchase leads, I set appointments, I close business, I get paid!” The problem is the, “I purchased leads,” is not implemented enough. Many agents purchase leads and wait another 2-4 weeks until they purchase more leads. During this time their production slumps and sales are never consistent. You must purchase at leads 10 leads a week, each and every week, to keep your sales pipeline full. Use credit to your advantage and float marketing costs for 30 days until you receive your commissions then pay back. Keep the pipeline filled and watch your sales remain consistent.
MISTAKE 5: Never exploring the benefits of recruiting other agents
The joy of life insurance sales is that you can recruit a downline to do the selling for you while receiving overrides on business. To do this you must have an exclusive lead source to attract agents, good carriers to write with and great commissions to share. Recruiting can eliminate the ground pounding you experience selling and delegate it to your sales staff that will do it for you. Grow your business by recruiting others!