Thoughts.com

Pretend, for only just a moment: The year is 2042, and you’re a decade into your retirement from the insurance sales business. With a prosperous career firmly in the rearview mirror, you roll out of bed with little sense of urgency, pour a glass of orange juice, and grab the mail.

Coupons, lots of junk mail, the March edition of your favorite magazine, and a paycheck for $4,200 meet your gaze.

An approving smile forms on your face, as it’s tended to do for the past decade whenever the residual check finds your mailbox. “Nice.”

Insurance sales is a unique business – one in which the compensation is not based on hours, or salary, or even ability to sweet talk your boss. Rather, compensation in the insurance sales world thrives on commissions and residual income, both of which have an utterly nonexistent cap. With no income cap, insurance Agents are afforded the luxury of being in complete control of their own earnings. For Agents lacking motivation, insurance sales will quickly prove to be a risky way to go make a living; however, for the dedicated, entrepreneurial-minded people among us, insurance sales presents an extraordinary opportunity to build a networking empire from the ground up and, in doing so, begin a satisfying routine of greeting a residual check, “nice,” at the mailbox – potentially even for years after your retirement.

The way it works at American Income Life is this: Every time you (or let’s just say a highly-competent Agent) make a sale, a percentage of the monthly premium paid is credited right back to the Agent. After the sale, you as the highly-competent Agent will receive the renewal, every month, for as long as the policyholder continues to pay their premium. It’s a classic gift-that-keeps-on-giving scenario – a sale made on day one by a fresh-faced young sales Agent could continue to pay dividends when that same Agent is a robe-wearing retiree.

This is hardly a luxury offered by other sales careers – you’d be hard pressed to find a realtor or car salesman making a dime off of sales from months past, let alone years or decades.

Also unlike other sales positions, insurance sales are recession-proof. While it makes little sense to go buy a new S.U.V. or beachside resort in the midst of an economic downturn, the same principle doesn’t apply to life insurance. In fact, life insurance and supplemental health insurance sales have shown to be more profitable for Agents during a ho-hum economy.

Insurance sales are surely not for all. Only for the determined, the motivated, and those with a desire to earn exactly what their skills are worth. If that’s you, then you too could be saying “nice” in no time at all.

Does the idea of having complete control over your own income appeal to you? We encourage to check the American Income Life career page and learn more about the lucrative world of the highly competitive insurance agents that work for us!

Writing Business for the Long Term

To make money in insurance sales, policies have to stay on the books. And it’s not just about the policies you write. All policies need to begin with a sturdy foundation.

Laying the Foundation

You can increase the odds that your policy will be issued by following these simple steps:

• Explain the possibility for rating or denial
• Review what happens next so your customer knows what to expect
• Leave materials for the customer
• Prepare the applicants for a possible phone call, medical exam, or any other requirements that may come up

What’s your method for writing long lasting policies?

If you’re someone who wants to be more successful, it’s a good idea to reexamine your goals every so often.

Take the time to ask yourself the questions below and to write down your answers. Then evaluate your goals, and set new ones, if necessary.

1.      What goals have I reached?

2.      Which goals remain on the back burner?

3.      What progress have I made in my career?

4.      How are my finances compared to last year?

5.      Do I develop good relationships with my customers?

6.      How well do I service client policies?

7.      Where do I want to be this time next year?

In order to effectively execute your goals, you must be organized.

·         Set certain times of the year to check up on yourself. Use this time to see how you’re progressing in achieving your goals.

·         Clear your desk at the end of every day so you can be ready to work the next morning. If you’re traveling, plan your day the night before to make the most of your sales time.

·         Bite-size your tasks. If you have a difficult task, break it up into manageable pieces. This removes the feeling of being overwhelmed and gets the job done.

Remember, each of your goals comes closer to being a reality the moment you begin working on it! That’s what American Income Life is all about: ‘opportunity unlimited.’ You can learn about the insurance industry from a respected company with strong financial strength ratings. American Income Life has earned the A+ (Superior) Financial Strength Rating from A.M. Best Company (as of 6/11). To learn more about life insurance and sales careers available, visit American Income Life.

*Material from UA News – January 1998

Some things in sales never change. Every salesperson should already know customer service is a very important part of your job.

The following article is from a 1988 issue of an American Income Life affiliate magazine. Twenty plus years have elapsed since it was printed, but the message still rings true today.

Customers Say Service Is Key!

What do customers really want? In a word, SERVICE – both before and after the sale. These are major areas where salespeople can score high marks from existing and prospective customers.

Know Your Products

Customers don’t always understand the product details. They want to trust and rely on their salesperson to properly assess their needs and explain appropriate options.

Little Things Mean a Lot

Your customer wants to be valued as a person, not a sale. Receiving birthday and get-well cards, notes, and visits from you make them feel special.

Be Accessible

If problems arise, customers want them corrected quickly and simply. They want a direct line to one person who can deal with their needs.

What’s it mean for you? BUSINESS THAT STAYS!!

Statistics indicate that salespeople who provide superior service reap rewards through more sales and higher rates of repeat business.

Achieving great customer service basically comes down to practicing the Golden Rule. If you treat others the way you want to be treated, everyone is happy … you and your customer!

To learn more about life insurance and sales careers available, contact American Income Life.

Modern day life insurance has its roots in 17th century England. Underwriters would meet at coffee houses and discuss insuring traders and ship merchants. Insurance was a necessity to many people because of the harsh travel conditions. Lloyd’s of London, one of the most prominent insurance companies in England, used to be a group of people who met at Lloyd’s Coffee House.

In 1735, the first insurance company in America was formed in Charleston, South Carolina. Later, in 1759, the Corporation for Relief of Poor and Distressed Widows and Children of Presbyterian Ministers was established. Episcopal priests began a similar type of fund in 1769. The first life insurance policy for the general public in the United States was issued in Philadelphia on May 22, 1761.

Due to opposition from certain religious groups, life insurance didn’t become a major commodity in the United States for another 80 years. But in the 19th century many organizations were founded to insure the life and health of their members. Many fraternal groups provided low-cost, members-only coverage. These kinds of organizations still exist today.

Life insurance practices have changed dramatically. But one basic principle has not changed – the need to provide financial assistance that can secure the long-term future of survivors. Having appropriate life insurance protection in place should be the goal of every middle-income person in this country. American Income Life understands this, and has the products and sales talent to make it happen.

If you’d like to learn more about supplemental life and health insurance, visit American Income Life. You can learn about insurance from a respected company with strong financial strength ratings. American Income Life has earned the A+ (Superior) Financial Strength Rating from A.M. Best Company (as of 6/11).

Sources: www.financial-shopper-network.com/life_insurance_history.htm; www.lifequote.com/htm/historyoflifeinsurance1.asp