How to Become a Successful Life Insurance Broker Flagstaff AZ
Title: Senior Financial Advisor
Company: Ameriprise Financial
Retirement Planning,Insurance & Risk Management Planning,Fee-Only Comprehensive Financial Planning,Annuities,Investment Consulting & Allocation Design,Retirement Income Accumulation Planning,Life Insurance,Investment & Portfolio Management,Retirement Income Distribution Planning
Family Wealth Advisors
Education: BA, MA(abt)
Years of Experience: 30
IARFC, MDRT, FPA, SFSP, NAIFA, GAMA, NICEP
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Charitable Planning, Education Plan, LiabCover, Compensation Plans
The Spivak Financial Group
Education: 1987 Graduate of Pennsylvania State University, State College, PA.
Years of Experience: 23
IARFC, MDRT, NAPFA, NAIFA
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Education Plan, Healthcare Accounts, Asset Protection, BuySell
Independent Financial Group
Education: BS in Business Administration, Arizona State University, 1987
Years of Experience: 23
Invoice, Estate Planning, Portfolio Management, Pension Planning, Retirement Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, CommOptions, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Healthcare Accounts, BuySell, LiabCover
McGraw Custom Financial Solutions LLC
Education: Weber State UniversityKaplan UniversityCalifornia Coast University
Years of Experience: 12
Invoice, Estate Planning, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Seminars Work, Annuities, Life Insurance, Long Term Care Insurance, Auto Home Insurance, Charitable Planning, Education Plan, Asset Protection, Compensation Plans
Company: Tocco Financial Services
Investment Advisor Rep: Yes
Bachelors Degree in Business Management
Masters Degree in Organizational Management
Certified Financial Planner
Years Experience: 20+
Portfolio Engineering,Income for Life/ Preserve Principal,Alternative Investments,Retirement Planning,Investment Consulting & Allocation Design,Retirement Income Accumulation Planning,Fee-Only Comprehensive Financial Planning,Fee Only Portfolio Management,IRA, 401k, Roth IRA, QDRO Rollovers,Wealth Management,Annuities,Long-Term Health Care Planning,Retirement Income Distribution Planning,Hourly Financial Planning Engagements,401k Rollover From Employer,CD Alternative,Life Insurance,Investment &
Company: LPL Financial
Pension for Highly Compensated Owners,Stock Market Alternative,Wealth Management,Life Insurance,Investment Consulting & Allocation Design,Insurance & Risk Management Planning,Asset Protection Strategies & Planning,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Health Care Insurance,Retirement Planning,Annuity Ideas & Strategy Planning,Retirement Income Accumulation Planning,401k Rollover From Employer,Income for Life/ Preserve Principal,Disability Insurance,Annuities,Commission-Only Financia
Heritage West Capital Corporation
Education: MBA, Finance, Columbia University, New YorkBA, Economics, University of Southern California, Los Angeles
Years of Experience: 29
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Stocks and Bonds, Mutual Funds, Precious Metals, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Group Insurance, Asset Protection, BuySell, LiabCover, Compensation Plans
Sun City, AZ
Smart Financial Strategies, Inc.
Years of Experience: 22
IARFC, SCSA, NAIFA
Invoice, Estate Planning, Trustee Service, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Charitable Planning, Charitable Foundations, Asset Protection, Compensation Plans
How to Become a Successful Life Insurance Broker
Being a life insurance agent or life insurance broker is obviously a very challenging professional. It may seem easy and simple, especially when you compare it other seemingly complicated professions, but any insurance broker would tell you that the insurance industry offers its own set of challenges and problems. Still, while insurance is no easy industry to penetrate and succeed in, it also doesn’t mean that it’s impenetrable. All of need, obviously, is the right set of tools and the proper mindset in order to succeed. The life insurance sector of the industry requires you to be organized, resourceful, and smart.
The beginning of your career
Of course, in order to succeed the life insurance industry, you need to start from the bottom and work your way to the top. The first two points here are your license preparation and your training.
You probably already know this, but it requires reiteration: in order to become a life insurance agent, you need to pass a state license exam. Basically, the exam will enable you to offer life insurance to people in your state (this is important because, as you should know, state laws cover different clauses, hence affecting your transactions). The state requires you to finish a 36-hour course (which can be finished in a span of one week through a class or through your own using approved study materials). It should be noted that health insurance agents also need to finish the same course and need to pass the exam. In order to pass, you need a 70 percent score. There is no limit to how many times you can take the test although, obviously, you wouldn’t want to take it more than once. Obviously, you really need to study. Once you get your license, you can apply for a job as an insurance broker. You can start as an intern if you are not confident with your skills.
But what do these have to do with becoming a successful life insurance broker? Basically, the importance is this: your training and knowledge will serve as your foundation in the industry. If you do not take your licensure exam and on the job training seriously, you will lack the skills needed to become a successful agent.
What it takes
So once an agent, what should you do to succeed? Since life insurance is, in essence, an offer you need to sell to people and since your reputation as an agent depends on how you deliver, you will require a set of traits you need to exemplify.
For instance, when offer life insurance, you need under promise. This way, your clients wouldn’t take it against when your offer doesn’t deliver the goods it should. However, you should exceed your promise to make it seem as if you did more than you should. Basically, the rationale here is this: when you promise to give three to a client and you were able to give three, you did nothing extra ordinary; however, when you promise two and were able to give two, it would seem as if you over delivered. The key here is trying to lower the expectation. With lowered expectations, you can overdeliver.
A successful life insurance broker also collects and expands his allies and connections. Connections can serve you many purposes. For one, they can give you referrals, which is a big part of your business. Without them, your potential clients will be minimal, making your business extremely hard. But connecting with other professionals in your field (and also those who are not) is beneficial in other ways too. It helps strengthen your business in ways you can never imagine—especially when you’re only starting in the business. No contact is irrelevant and useless. You should never burn bridges. This includes existing clients. Never think that an existing client’s purpose has already exceeded after a successful transaction. They provide you with referrals and, in some cases, even new business. In the life insurance business (or in the insurance business in general), you will need all the connections you can get.
The right attitude
The line separates a successful agent from a top agent is very thin and almost indiscernible. To be great, you need to exceed your effort beyond what can turn you successful.
For instance, as a life insurance agent, you need to be sincerely concerned about your clients. It’s not enough that you can provide them with what they need. Instead, you need to be passionate about your clients—and this will include knowing more about them, including their interests. Use the internet to know more about your clients, and try to fish information such as hobbies and similar facts. It adds an extra value to your service, and it makes the transaction more personal.
This is a great way to get passive referrals—yet another tool you will need to become a top broker. You will need passive referrals the most (because they require less work). And the only way to get this kind of referral is to become a better agent to your existing clients. Again, it’s a matter of being better than everyone. Say thank you, provide updates, follow up, greet them during special occasions—make your relationship more personal. After all, you and your client are human, and you respond to socialization and interaction. Great service plus a little personalized touch should be enough to make you better than some of agents out there.
A part of being a great life insurance broker is about the attitude—yours. Make sure you are on a much good mood generally; your general attitude can turn off clients. Minimize the news you read or watch (as bad news can get you down). Some agents suggest: do not end your day with a bad phone conversation. Make sure your day properly—with a smile. With this, you will become a much better agent, able to provide what is asked from you.
Being a successful life insurance broker or life insurance agent is a combination of great service and great attitude. With these two, you can never fail.