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[I364]Insurance Sales Manager Jobs

by Donald Yerke, Don

This might sound fabricated coming from someone who beaten the odds. But climbing a ladder without rungs is almost impossible. Oh life insurance selling can become a rewarding career but obstacles cover the entire path. Can you initially overpower a steady flow of objections, improper training, and worthless leads?

It is not that life insurance selling is hard dirty tough labor. The problem is you think you are entering a career, not a temporary job..For those that can overcome the slim chances, Life insurance selling can become a sweet career. But will you get the CORRECT TRAINING, CORRECT LEADS, and have the necessary self imposed true guts? You must accept many rejections, and still walk away with sales. I'm betting with the statics, that 94 out of 100 newly recruited agents will not see their 4th insurance anniversary.

Did you know that you career insurance agency is purposely designing a program for individual failure? You don't realize it. Even you did find out, the agency would tell you that you were crazy.

Please do not call me Dr. Doom.

I've done over 25 years of homework and intense analysis to be correct. Ask the insurance agent manager of the career insurance agency who recruited this question. Just who is to blame for your lack of progress.? He is the one at fault for your failure. The agency manager however always blames the agents.

Whose fault is it really? The agent should not have applied for the position, and the recruiter should not have hired him. Due to urgency to recruit, the selection process eliminates too few agents. Nearly half of new recruits are "order takers", they can complete a sales application form. However this is much different than direct selling at a client's office or home . Good thing I'm no longer an insurance agent. Career agencies would like to gag me. Let out that your failure was actually planned before you were hired is a bold statement to make. However examining the insurance company's profit margins will prove me right,

What really disturbs me? Almost all the career life insurance agencies use a similar plan. No matter which of large firms you start with, or even switch to the methods used are close to identical. How can any agent succeed with the statistics stacked so high against him, and the agency unwilling to take blame or make changes beneficial to agents?

Let's look closer at the hiring system. Career agencies hire new agents two ways. The first is a good size ad in the local Sunday newspaper promising lots of income and plenty of benefits. The other is a recruiter hired by the career agency to attend job fairs and similar events to talk to college seniors. The college recruiter probably never sold a single insurance policy. When the career agency runs the newspaper classified ad, the sales manager is the guilty one. He is completely unqualified in the art of determining beforehand if he is hiring a true salesperson.

In the year 1990, people seemed interested in having a critical illness cover. Therefore, around 100,000 critical illness policies could have been sold in that year. Market surveys revealed that the growth of critical illness cover sales would be continuous for the coming years. The reason behind was that many people could have been interested with the direct benefits offered. Thus, by 1997, sales of approximately 633,000 critical illness policies could be counted in the UK. Furthermore, in the year 1998, sales had further increased to 695,000 with considerable rise recorded in the years 1994/95. By the end of 1998, about 2.25 million critical illness policies could be found in the UK.

Moreover, critical illness cover was sold in two different formats known as accelerated and standalone. Around 82 percent of covers sold could have been accelerated covers. Out of these, about 40 percent may have been term insurance, 12 percent may have been whole life and 48 percent could have been endowments. As a matter of fact, the average sum insured for each type of accelerated critical illness policies could have been as follows: GBP 47,000 on term insurance, GBP 68,000 on whole life and GBP 35,000 on endowments.

Additionally, 18 percent of critical illness policies sold in the year 1997 could have been standalone. Out of this, about 50 percent may have been riders to term insurance policies while the remaining 50 percent could have also been riders to whole life policies. The average sum insured might have equaled GBP 48,000 on term insurance and GBP 64,000 on whole life insurance. The average monthly premium payment for both type of critical illness policy could have been GBP 370 and GBP 380 respectively.

There are other reasons why people chose to take a critical illness cover in the UK. Around two thirds of critical illness sales could have been made regarding mortgage. Many people consequently accelerate their critical illness cover with mortgage. Should they happen to fall ill in the future, the remaining mortgage balance could be paid out by the lump sum awarded to them. Becoming self employed can be another reason that may have pushed people towards taking out a critical illness cover. Considerable sales volumes could have been recorded because the self employed do not involve in income protecting procedures as company employees. Critical illness insurance may offer help in case the job is lost for the self employed. The need to finance children so that they attain higher level of education may have also boosted critical illness policy sales in the UK.

The trend of critical illness policy sales had been an ever increasing one since its arrival in the UK. Accelerated policies, as seen have been more successful than standalone critical illness policies. The increasing trend of critical illness cover sales is predicted to continue.

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Both Donald Yerke & Mike Armstrong are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Donald Yerke has sinced written about articles on various topics from Multi Level Marketing, Writing and Finances. See more articles like Life Agents Don't Stand A Chance. Author, Don Yerke, has over 150 published articles to read. His favorite subjects are insurance agent changes, effective sales recruiting, maximizing leads, closing sales, and exposing ins companies. Donald Yerke's top article generates over 301000 views. to your Favourites.

Mike Armstrong has sinced written about articles on various topics from Insurance, Finances and Insurance. For more information about and. Mike Armstrong's top article generates over 22200 views. to your Favourites.