What They Don't Tell You When Starting Out In The Life Insurance Industry

Starting a career in the life insurance industry can be an exciting path filled with opportunities for growth and success. However, there are certain aspects of this industry that often go unmentioned or are overshadowed by the promises of huge incomes and flexible schedules. In this article, we reveal the truths that are rarely discussed when starting out in the life insurance industry.

1. Cold calling is a major part of the job

While you might have heard about the potential to earn high commissions in the life insurance industry, it's important to understand that a significant portion of your time will be spent cold calling potential clients. Building a client base takes time and effort, and cold calling is often an integral part of that process. Be prepared for rejections and learn to embrace them as opportunities to improve your sales skills.

The Book I Wish I Had: What They Dont Tell You When Starting Out In The Life Insurance Industry

by Ernst & Young LLP (Kindle Edition)

4.6 out of 5

Language	:	English
File size	:	1445 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	92 pages
Lending	:	Enabled

FREE

2. Continual learning is essential

Life insurance is a complex field that requires a deep understanding of various policies, legal regulations, and market trends. It's crucial to stay up-to-date with industry changes and continuously educate yourself on different insurance products. This ongoing learning process will not only help you better serve your clients but also improve your credibility as an expert in the field.

3. Building a trustworthy reputation takes time

Trust is the foundation of any successful business, and the life insurance industry is no exception. It takes time to build a solid reputation and establish trust with potential clients. Being transparent, reliable, and delivering on your promises will eventually earn you the trust and loyalty of your clients. Just remember, building a reputable name in the industry is a marathon, not a sprint.

4. Maintaining work-life balance can be challenging

As enticing as the promise of a flexible schedule might be, achieving work-life balance in the life insurance industry can be challenging. Meeting with clients during evenings and weekends, attending industry events, and constantly being available to address client concerns can take a toll on your personal life. It's important to find ways to prioritize self-care and set boundaries to ensure you don't burn out.

5. Competition is fierce

The life insurance industry is highly competitive, and you'll find yourself surrounded by other agents who are eager to secure clients and make sales. It's important to differentiate yourself from the competition by showcasing your unique strengths, offering exceptional customer service, and continuously improving your sales skills. Remember, standing out in a crowded market requires dedication and perseverance.

6. Rejections are part of the journey

One of the toughest aspects of starting out in the life insurance industry is dealing with rejections. Not every potential client will be interested in your services or willing to purchase a policy. Developing a resilient mindset and learning from each rejection will help you grow as a professional. Success is often achieved through persistence and the ability to bounce back from setbacks.

7. Networking is crucial for success

In the life insurance industry, networking is a powerful tool that can help you expand your client base and establish valuable connections. Attending industry events, joining professional organizations, and leveraging social media platforms can all contribute to your success. Remember, building strong relationships with clients, colleagues, and industry influencers can open doors to new opportunities.

8. Embrace technology to stay competitive

With advancements in technology, the life insurance industry is evolving. Embracing digital tools and platforms can give you a competitive edge. From using customer relationship management (CRM) systems to streamlining your administrative tasks, technology can help you work more efficiently, improve client communication, and stay ahead of the competition.

Starting a career in the life insurance industry can be a challenging and rewarding journey. While it offers the potential for great financial success, it is important to remember the realities that are often overlooked. Embracing the challenges, continuously learning, building trust, maintaining work-life balance, and leveraging networking opportunities will help you navigate through the obstacles and achieve long-term success in this industry.

The Book I Wish I Had: What They Dont Tell You When Starting Out In The Life Insurance Industry

by Ernst & Young LLP (Kindle Edition)

4.6 out of 5

Language	:	English
File size	:	1445 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	92 pages
Lending	:	Enabled

FREE

Zachary Kirkland is a father, husband, author, and veteran. Zachary is Co-Owner of Dynamism Financial, which is a financial firm that is spread from coast to coast in the United States. He started his career in the Finance and Insurance industry with a Los Angeles financial wire house. Zachary knew what he wanted to see in the industry and saw that something was missing.
In, The Book I Wish I Had: What They Don’t Tell You When Starting Out In The Life Insurance Industry, the author goes through the advantages and disadvantages of the products that are offered in the industry. After witnessing numerous agents either guess on what product was good for their client or push a product that did not fit their client, the author realized what was missing in the industry. That was financial literacy. He realized the more educated you are about a product, the more clients are willing to purchase with you and the higher your chances are of getting future business and recommendations from them. So many agents sell once and never see a client again. Zachary takes the time to explain the various forms of life insurance as well as all the products a licensed agent can sell. He breaks down illustration charts, health factors, risks, and what product is perfect for which client. If you are a new agent or a broker that trains new agents, this book was made for you!
Zachary also blogs about the Finance and Insurance industry at:
www.dynamismfinancial.com
He also puts the blogs into video format on the Dynamism Financial YouTube channel at:
https://www.youtube.com/channel/UCwv1lTTUUErgrCqnDwn4xLQ