Students of the life insurance industry are always looking for resources to add to their library of knowledge. For new agents and seasoned veterans alike, pertinent reading material can be a major boon to a life insurance practice. With a plethora of information – some good, some not so good – it can be difficult to find books that will best contribute to a solid life insurance foundation. Here are some of the books our forum members recommended, which you may want to add to your reading list!
1. Questions and Answers on Life Insurance: The Life Insurance Tool Book, by Tony Steuer
This book covers both the basics and the more advanced principles involved in life insurance. The book includes advice on pitfalls to avoid, keeping a policy in force, and company evaluations. It was written by a life insurance professional with years of experience.
2. How I Raised Myself From Failure to Success in Selling, by Frank Bettger
Although not exclusively an insurance book, Amazon calls Bettger’s work a “business classic.” Written for anyone with a job in sales, this book divulges anecdotes and guidelines on how to develop winning sales strategies. Plus, it was written by a once-failed insurance salesman turned wildly successful – an encouraging tale for all of us.
3. Tools and Techniques of Life Insurance Planning, by Stephen Leimberg, J.R. Doyle, and Robert J.
This book talks about methods for determining a client’s life insurance needs. It includes charts, checklists, and case studies on applying sales methods and identifying the impact of new regulations on existing insurance models. Now in its 4th edition, this book covers a variety of topics, from life settlements to insurable interest to buy-sell agreements and charitable planning.
4. New Life Insurance Investment Advisor, by Ben Baldwin
While this book is slightly older, it is a helpful read for beginners. Baldwin’s guidebook discusses analyzing insurance products based on their investment merits and overall financial returns. His pragmatic look at the most important factor for any business – the bottom line – serves as a go-to for consumer insurance information. One agent noted that it is “a little too enamored of variable UL”, but still provides a great deal of useful information.
5. Confessions of a CPA: Why What I Was Taught To Be True Has Turned Out Not To Be, by Bryan Bloom
Bloom’s book is a compilation of eight commonly-held financial truths that are accepted as components of a sound financial plan. Bloom dismantles them within, and discusses the way that relying on accepted truths impacts one’s financial future. This book was a favorite among agents and brokers.
6. Secrets of Successful Insurance Sales: How to Master the “Value Added” Approach to Consultative Sales, by Jack and Gary Kinder
Another oldie but a goodie. This book has served as a foundation for building sales skills for several agents. The Kinder Brothers now provide sales and sales management consulting and training tools for the financial services industry. One broker noted, “Anything by Jack and Gary Kinder is worth reading, in my opinion.”