Many new life insurance agents have no understanding of what it takes to become successful in the life insurance industry. This post will focus on ways to become an independent life agent where you are in control of all aspects of selling, appointment setting and lead purchasing.
Most agents join an agency with a lead system when first starting their careers. They are promised tons of leads and support but in return they take anywhere from a 50%-80% contract and pay for the leads as well. There is nothing wrong with this only if you treat it as a learning experience and nothing more. Many of these agencies will give you the foundation you need to be successful. However, a new agent should spend no more than six months involved with this type of a program because you can make double the money on your own and below are the three secrets.
Secrets to Building your own Life Agency
There are three keys to becoming a successful independent life insurance agent and agency and they are a reliable and trustworthy lead source, strong appointment setting skills and contracting with carriers at street level which typically is 105-115%!
Life Insurance Lead Source
The hardest part of becoming an 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 a division of your company or a partner in your production. You want a company that does not share your leads or your lead territory. Our company, VoiceLeads.US has this mentality and philosophy and serves agencies across the country. So the first part of the equation is solved. Once you have a lead source you are on your way to increasing your production and now you can recruit new agents and attract them with your leads. The key to recruiting agents, increasing your personal production and building an agency is a strong lead source. Choose VoiceLeads.US to achieve this.
Life Insurance Appointment Setting
Many agents are horrible at setting appointments and they die on the vine because of this inability. You must have strong appointment setting skills in this business. If you can set strong appointments you will not last long.
The secret to setting appointments is for you to act as the “appointment setter,” and not the insurance agent. This allows you to avoid the “How Much,” questions and getting into a situation where you are quoting over the phone. (You will never set an appointment if you quote over the phone so stop it!) If the how much situation comes up you just say, “Ms. Smith, I am just the appointment setter and not licensed to answer that but John the agent assigned to your territory will be happy to go over all the plans so what works better for you mornings, afternoons or evenings.” Start playing the role of appointment setter on the phone and set more appointments.
Contract with Life Insurance Carriers at Street Level
Many agents do not know that you can contract with carriers directly and avoid the middle man or in other words the agency’s thumb that you currently under. Contracting directly with the life insurance carriers gives you the benefit of picking and choosing the right products to add to your portfolio and also allows you access to what is called “street level” commissions. These are the highest levels and independent agent can receive and range, depending on the company from 105-120% Many agents are at 50-80% contract levels and still have to buy leads so why wouldn’t you want to find your own lead source, contract with your own carriers, set your own rules and best of all control YOUR DESTINY? Sounds too easy right? Well now is the time to get started and grow your business but remember if you need a lead source and/or more advice on what to do, choose VoiceLeads.US We are not only a trusted and valued lead resource but we will help grow and guide you in your career! Leads are priced right and best of all advice, scripts, sales presentations and ideas to grow your agency are always free!