Insurance Sales Agents Career

Career in insurance is one of best job options. Insurance sales agents help families, individuals, and businesses. They choose insurance policies to provide the best security to their health, properties, and lives.

Nature of the Work
Generally, insurance sales agents are known as producers in the insurance industry. They sell various types of insurance such as health, life, casualty, property, disability and long-term care. Casualty and property insurance agents sell policies that defend businesses and individuals from financial loss resulting from fire, automobile accidents, storms, theft, and other incidents that may damage property.

For property, businesses, and casualty insurance may cover injured workers' product liability claims, compensation, and medical malpractice claims. Life insurance agents major in selling policies, which pay beneficiaries when a policyholder dies. Based upon the policyholder's circumstances, a cash value policy can be designed to provide funds for the education of children, retirement income, and others benefits.

A life insurance agent may sell annuities that assure a retirement income. A health insurance agent sells health insurance policies that incorporate the costs of medical care and loss of income owing to injury or illness. They also sell short-term, long-term, and dental insurance policies. Insurance agents may specialize in any of the above discussed areas. They may function as generalists and equip customers with many products.

Insurance sales agents offer clients comprehensive financial planning services. These services comprises of estate planning, retirement planning, and assistance in establishing business pension plans. Some insurance agents are involved in 'total account development' or 'cross-selling'. Apart from offering insurance, insurance agents are licensed to sell variable annuities, mutual funds, and other securities.

This practice is very common with life insurance agents who sell annuities. Some casualty and property agents sell financial products as well. Insurance sales agents maintain records, prepare reports, and seek new clients. Some insurance sales agents equip clients with financial analysis and counsel them to lessen risk. Some of the responsibilities of insurance agent are given below.

Responsibilities

• Call on policyholders to convey and clarify policy, examine insurance program and recommend additions, and changes to the change beneficiaries
• Compute establish and premiums payment process
• Modify insurance programs to suit customers covering various risks
• Sell multiple types of insurance policies to individuals and businesses in favor of insurance companies comprising of fire, automobile, property, life, dental, and medical insurance or specialized policies like farm/crop, marine, and medical malpractice
• Interview potential clients to attain data about their financial needs and resources, the property or physical condition of the person to be insured, and to confer any accessible coverage.
• Look for new clients and build up customers by way of networking to find new customers and prepare list of potential clients
• Give details on advantages, features, and disadvantages of multiple policies to endorse sale of insurance plans
• Visit underwriter to submit forms and attain binder coverage
• Ensure policy requirements are met, consisting of any required medical examinations and the completion of apt forms
• Discuss with clients to attain and provide information while claims are made on a policy
• Execute administrative tasks such as handling policy renewals and maintaining records
• Choose the company that offers different types of coverage recommended by clients to underwrite policy
• Examine insurance claims to ensure that they are settled fairly for the insurer and client
• Build up marketing strategies to compete with companies or individuals who sell insurance
• Participate in seminars, meetings, workshops, and other programs to know new products and services, receive technical assistance in creating new accounts, and learn new skills
• Examine property; assess its general condition, various constructions, age, and other elements to determine whether it is a right insurance risk
• Resolve system problems and employ bookkeeping systems
• Prepare, plan and examine insurance programs

Work Environment
Usually, insurance agents work as captive agents in small offices. These agents contact clients and equip them with utmost information on various policies they sell. Independent insurance agents and brokers work in offices of different sizes. Nonetheless, much amount of time may be spent out of the offices. They may need to travel to meet clients, close sales, and assess claims.

Generally, agents determine their own hours of work. They often schedule weekends and evening appointments for the clients. Some insurance sales agents meet clients during business hours. Subsequently, they do paperwork and prepare presentations in the evening. Sale agents work forty-hour a week.

Educational Qualifications
Sales agents involved in selling, solicitation, and negotiation of insurance should possess state issued license. Licensure needs may differ by state but usually need some insurance-related coursework. Some of the agents employed are right out of college and some are hired by insurance companies. Some organizations employ candidates as customer service representatives and consequently promoted to insurance sales agents.