Insurance Agent Jobs | Auto Insurance Broker | Health Insurance Agent
Insurance Agent Jobs - What is the Job of a Business Insurance Broker? What do Insurance Sales Agent Jobs Involve?
Insurance sales agents are responsible for selling various types of insurance to customers such as property insurance, casualty insurance, life insurance, and health insurance, among others. Property insurance agents are responsible for selling policies to businesses in order to protect them from financial losses as a result of uncontrollable events such as fire or theft.
In a business capacity, property insurance can cover the compensation for an injured worker, as well as product liability claims and medical malpractice lawsuits.
Life insurance agents are responsible for selling policies to predominantly private individuals. If the policyholder dies, the beneficiaries will receive a cash structured settlement that is designed to produce income to supplement retirement. Other health insurance agents sell insurance policies which help cover medical care and loss of income to the injury.
Insurance sales agents may also offer dental insurance and disability insurance policies, in addition to comprehensive financial planning services. These bundled financial services will usually involve estate planning, retirement planning, and pension plans. Cross selling allows clients to save money and insurance agents to reap the most profit.
Insurance sales agents will usually work for one company exclusively, although independent insurance brokers will often represents several companies and match their policies in order to give their clients the best coverage.
The Internet has allowed online insurance sales agents to take on hundreds of clients at a time, as the process of selling insurance is much more efficient. Online web sites now have insurance quotes that are made to order so that customers can be better informed about various insurance packages.
Insurance sales agents are still needed to form bonds with clients, and they obtain new counts predominantly through referrals, so word of mouth is more important than technology. Technology eliminates much of the busywork such as marketing insurance products, and developing a happy clientele is the key to success in the insurance business.
Increased competition in the insurance industry has led to better service on the part of insurance carriers and insurance sales agents. Many commercial brokers now have call banks which are open 24 hours a day to 365 days a year.
Working Conditions for Insurance Agent Jobs - How is the Working Environment for Life Insurance Agents Jobs?
Captive agents, or insurance sales agents who only work for one company, are usually located in small branch offices. Independent insurance agents can work out of any size of agency, and may even be able to telecommute. Insurance sales agents will usually meet with their clients during business hours, but some work 60 hours a week or longer.
Independent Insurance Agent Education - How to Become a Life Insurance Agent - How to Receive Your Insurance Policies Training
College graduates are the preferred hires for life insurance and insurance sales agents. Finance, mathematics, economics, marketing, and accounting are all common courses that helped insurance sales agents understand the insurance industry.
Advances in computer technology have made it necessary for insurance agents to be sufficiently versed in how to sell insurance plans online and to improve their efficiency. After graduation from an appropriate college program, insurance agents will usually start learning from more experienced professionals.
Continuing education are essential in order to keep up to date with technology and the diversity of financial products that are available to insurance clients. Some of these changes may include tax laws, changes in government programs, and Federal regulations which regulate financial instruments.
Car Insurance Brokers Training Requirements - How to Enter into Insurance Broker Jobs
All states require that insurance agents obtain insurance licenses in the locality in which they work. Separate licenses are usually needed to sell different types of insurance, and these insurance broker licenses are only offered after the proper broker educational courses have been taken and state examinations have been passed.
While reciprocal agreements between states may not yet exist, state codes with regards to insurance regulation are becoming increasingly uniform, which will eventually lead too easy licensing in other states.
The National Association of Securities Dealers offers insurance broker licensing exams for those insurance agents who wish to sell mutual funds, and more advanced exams for those who would qualify as general securities sales representatives.
Other skills that insurance sales agent should have include an ability to sell, and an enthusiasm and confident attitude with regards to dealing with people.
Other certification organizations include the National Alliance for Education and Research which offers courses in insurance, life insurance, and health insurance for independent brokers. The certified financial planner accreditation is offered by the Certified Financial Planner Board of Standards, which requires educational standards to be met, insurance examinations to be passed, and adherence to a rigid ethical code.
Insurance Agent Employment - What is the Future of Life Insurance Agent Jobs?
Over the next decade, insurance sales agent jobs should increase by about 13%, with agent employment being held down by the Internet which threatens the jobs of many agents, especially independent insurance brokers.
The Internet is not as big a threat as one thinks however, as insurance sales agents are still needed to process claims and to discuss insurance policies with a customer.
Factors which are driving the growth of insurance agents include long-term health care insurance and life insurance, due to an aging population that wants to lessen their risk.
The prospects of insurance agent jobs who are able to utilize the Internet should be good, however, those who are stuck in the stone ages will have a difficult time competing.
Insurance Agent Salary Pay Scale - How Much Do Life Insurance Agents Earn?
In 2006, insurance sales agent jobs earn a median income of $43,870. Many independent insurance brokers are paid through commission, and this commission will depend on the type of insurance package that is sold and whether it is new or a renewal.
Insurance agencies will usually pay higher premiums for new policies, as there is the possibility of addons. For insurance sales agents who are salary, benefits can include educational training, insurance plans, pensions, and office support services.