Hello, i am currently 20 years old and interested in getting into selling annuities and life insurance, i do not want to sound to ignorant on the subject but i was wondering if anyone would be willing to give some good information on where to get started to become successful in this business, thanks in advance.
Interested in Getting Started, Any Information Appreciated.
- Thread starter theman11
- Start date
- 1,641
Read the threads in this sub-forum.
- 8,707
Find a mentor. For most people that start in this business they will be forced to compile a list of Friends and Family called a Project 100 or 200 and trying to sell your warm market when you enter this business can lead to failure. I would be asking any agency I was thinking of hooking up with as a new agent if they had an experienced agent to mentor me....Your manager might say that they will be training and mentoring you and don't take this wrong not all managers are like this but if they really new how to sell they would be producing and not recruiting. The number one cause of agent failure is not seeing enough people on a favorable basis.
- 132
Becareful of your managers, the only thing you need to learn is relationships and people skill. When i first started , I found a guy that was 5+ years in and just acted like his business partner in meetings but basically was paying attention to how he interacted with clients. Learn how to use diagrams and buckets on a scratch legal pad. Clients love to see you draw out projections and educated them on what is and whats not.
Secondly, learn your products and the products you will be facing. 9 out of 1o times you will be competing with another agent or product. You must be able to learn to point out the difference in your product and why yours is more prudent to the cleint. Learn early, that do whats best for the client and dont 1035 every freaking annuity you see, especially if they lose value.
Thirdly, do things that the other guys do not do. Every client I learn about them and truely care to learn where they came from , if so what religion they are ( this will give you an insight how they behave to certain things) I have Christians clients I know I am not going to talk about drinking and hooking up with chics but rather things involving the church community. I know some clients that were Johavah Witness so I immediately spoke how bad our economy is doing and how I do not what the govt is doing in regards to the TARP, QE2, Health care reform......Johavah Witnesses do not believe in govt, in case you didn't know. The point is you can find alot by people's religion and faith, and the great thing you do not have to ask. If they are wearing a cross, do they have a buddah in thier house with food next to it, do they have a book of mormon on the book shelf, etc. How does this translate into annuity sale, people want to buy from people they trust and have a common ground with, if you can connect @ the level not only are you in with them and help them solve for a problem but this is when the referrals will start coming in.
Learn how to market, How to present your annuity , learn rebbutals, learn the negatives and positives of your product and be honest about it, but make sure you let them know this willl solve your _____ that you currently have.
I was a stockbroker before I transistion into a financial advisor. I have raised 3million + last year just on cold calling. I no longer do cold calling but learning different marketing techniques.
Hope this help , sorry for rambeling but I have a heart for any one getting started because it was tough and I vowed to help any because I was helped when just starting out.
God bless,
BudFox7
Secondly, learn your products and the products you will be facing. 9 out of 1o times you will be competing with another agent or product. You must be able to learn to point out the difference in your product and why yours is more prudent to the cleint. Learn early, that do whats best for the client and dont 1035 every freaking annuity you see, especially if they lose value.
Thirdly, do things that the other guys do not do. Every client I learn about them and truely care to learn where they came from , if so what religion they are ( this will give you an insight how they behave to certain things) I have Christians clients I know I am not going to talk about drinking and hooking up with chics but rather things involving the church community. I know some clients that were Johavah Witness so I immediately spoke how bad our economy is doing and how I do not what the govt is doing in regards to the TARP, QE2, Health care reform......Johavah Witnesses do not believe in govt, in case you didn't know. The point is you can find alot by people's religion and faith, and the great thing you do not have to ask. If they are wearing a cross, do they have a buddah in thier house with food next to it, do they have a book of mormon on the book shelf, etc. How does this translate into annuity sale, people want to buy from people they trust and have a common ground with, if you can connect @ the level not only are you in with them and help them solve for a problem but this is when the referrals will start coming in.
Learn how to market, How to present your annuity , learn rebbutals, learn the negatives and positives of your product and be honest about it, but make sure you let them know this willl solve your _____ that you currently have.
I was a stockbroker before I transistion into a financial advisor. I have raised 3million + last year just on cold calling. I no longer do cold calling but learning different marketing techniques.
Hope this help , sorry for rambeling but I have a heart for any one getting started because it was tough and I vowed to help any because I was helped when just starting out.
God bless,
BudFox7
amyedwards71
New Member
- 12
If all possible, go work for an insurance agent as a trainee and see how much you pick up. The longer and better the insurance co, the more money you will save on your start up.
ShawnBrooks
Expert
- 25
I started working with a guy who had been in business 15 years, I set up appointments and he came in and helped me "seal the deal" and we split the commission 50/50. After about 5 of those appointments I got good enough to close the deal on my own (fixed indexed annuities)
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