Are you looking to make extra money? Or maybe you’re tired of your job and want to try something new? Have you ever considered selling insurance to make money?
There will always be a need to purchase all kinds of insurance, and therefore there will always be a demand for people to sell it.
There are many kinds of insurance to sell. And the rewards for selling it well are substantial. The best sellers can earn over a million dollars a year! But only those who know what they’re doing can make the biggest bucks. So let’s go over some tips that will help you sell!
Start Selling Annuities
An annuity is a fixed benefit payment that a client receives regularly. Since it practically sells itself due to greater stability than stocks, it’s usually how new insurance agents get their start selling insurance to make money.
Cross-Selling
In addition to selling annuities, many insurance agents combine annuities with other types of insurance such as cancer insurance or Medicare Supplement production.
It’s important to understand the needs of your clients before trying this, though. If you can understand what your client needs and what they don’t need, you’ll be better able to offer a solution to them.
Virtual Assistants
If you have more clients than you can handle, that’s a nice problem to have. But that’s no reason to forego the extra income. Hiring extra assistants can help you lighten your workload and help keep your focus on existing clients as well as attracting new ones.
Insurance CRM
If you want to make the biggest bucks, you’ll need an Insurance Customer Relationship Management (CRM) system. It’s a time management tool that the best insurance agents swear by.
Always Summarize Quotes for Policyholders With Products and Premiums
An executive summary of a policy is always recommended for your clients. Especially if you are cross-selling multiple types of coverage into a single comprehensive policy, a well-detailed summary of the products and premiums is a huge boost to maintain good client relations.
Marketing/Prospecting
If you are a new insurance agent trying to break into the business, how do you start? Selling insurance isn’t much different than selling anything else—you must actively find your first clients.
Using social media, networking with friends and family, cold-calling, and creating your own website to generate leads are a few ways to accomplish this.
Strategic Partnerships
No one works in a vacuum. This is especially true when selling insurance to make money. Making relationships with other insurance sellers can be mutually beneficial, especially if those other people have experience and skills you may lack.
Reach out to those who know more than you, and see how you can help each other. Maybe you possess skills and experience they don’t have but desperately need. Win-win.
Social Media
Social media is everywhere, and just as people like to keep in touch with their friends and loved ones, insurance agents know that keeping in contact with their clients helps customer relations and can even lead to referrals and new clients.
Opportunities can present themselves to get new business, such as the birth of a baby or the purchase of a new home or car.
Be Patient, Don’t Give Up, and Keep in Touch
All big businesses started as small businesses. The same goes for selling insurance to make money. Patience and persistence will help you gain valuable experience in attracting and keeping your clients.
Conclusion
You won’t become rich overnight selling insurance, but you can get started overnight. From having only a single client to having dozens or even hundreds, selling insurance to make money takes persistence, dedication, hard work, and patience. Get started today and don’t give up!
