- 11,275
I would start with FA222 - Essentials of Multiline Insurance Products within the LUTCF curriculum.
LUTCF Program Courses :: The American College
LUTCF Program Courses :: The American College
How to Become a Better Life Insurance Agent?
- Thread starter bballshinobi
- Start date
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- Tags
- life insurance
germanwine1
Super Genius
- 112
Have to agree with Souldeux and Mark the book How I Raised Myself from Failue to Success in Selling is more than worth the money and time.
"Remember if this were easy everybody would do it"
"Remember if this were easy everybody would do it"
Johnnyboy29073
Expert
- 558
A few other books I would recommend are the following.
If you don't mind cold calling to build your book of business I recommend:
Cold Calling Techniques (That Really Work!) by Stephan Schiffman
If you don't want to do any cold calling or even if don't mind doing some cold calling but want to try some other things than completely relying on cold calling to generate business, then check out:
Never Cold Call Again: Achieve Sales Greatness Without Cold Calling by Frank J. Rumbauskas Jr.
Plus a couple of great marketing and business building books are:
Monopolize Your Marketplace: Separate Your Business From The Competition Then Eliminate Them by Richard Harshaw
and
Duct Tape Marketing: The World's Most Practical Small Business Marketing Guide by John Jantsch
If you don't mind cold calling to build your book of business I recommend:
Cold Calling Techniques (That Really Work!) by Stephan Schiffman
If you don't want to do any cold calling or even if don't mind doing some cold calling but want to try some other things than completely relying on cold calling to generate business, then check out:
Never Cold Call Again: Achieve Sales Greatness Without Cold Calling by Frank J. Rumbauskas Jr.
Plus a couple of great marketing and business building books are:
Monopolize Your Marketplace: Separate Your Business From The Competition Then Eliminate Them by Richard Harshaw
and
Duct Tape Marketing: The World's Most Practical Small Business Marketing Guide by John Jantsch
Besides just reading more books and going through trainings and seminars, etc., being a better insurance agent often times requires you to take a step back and "think outside the box".
What do I mean by that? Well, to begin with, think about your target market. Who do you want to work with? Who SHOULD you work with?
For example: did you know that over 60% of financial sales professionals are targeting the top 6% of U.S. households?
Which means that almost 900,000 agents and advisors are all going after only 6.6 million prospects! Of course these people are the most affluent, and probably have the most discretionary income . . . but most of them already have existing relationships with an insurance agent or financial planner.
And even if each agent or advisor split the market evenly, each one would have only 7 clients!
However, 31% of U.S. households currently earn between $80,000 and $120,000 annually, which represents more than 35 million households and 46% of all earned income in the United States. And less than 40% of agents and advisors are targeting this market . . . which makes access much less competitive.
What's more, these people have needs for all types of insurance, and annuities too - although coverage amounts are obviously smaller. But in the aggregate, there is more opportunity in the middle market, and these people are usually easier to engage.
If you really want to succeed in insurance sales, consider working exclusively with middle income households. Of course, your average sale will be smaller, but there are many more prospects, and these people need what you sell. Also, the competition is minimal, the people are typically more accessible, and the selling process is both faster and easier.
What do I mean by that? Well, to begin with, think about your target market. Who do you want to work with? Who SHOULD you work with?
For example: did you know that over 60% of financial sales professionals are targeting the top 6% of U.S. households?
Which means that almost 900,000 agents and advisors are all going after only 6.6 million prospects! Of course these people are the most affluent, and probably have the most discretionary income . . . but most of them already have existing relationships with an insurance agent or financial planner.
And even if each agent or advisor split the market evenly, each one would have only 7 clients!
However, 31% of U.S. households currently earn between $80,000 and $120,000 annually, which represents more than 35 million households and 46% of all earned income in the United States. And less than 40% of agents and advisors are targeting this market . . . which makes access much less competitive.
What's more, these people have needs for all types of insurance, and annuities too - although coverage amounts are obviously smaller. But in the aggregate, there is more opportunity in the middle market, and these people are usually easier to engage.
If you really want to succeed in insurance sales, consider working exclusively with middle income households. Of course, your average sale will be smaller, but there are many more prospects, and these people need what you sell. Also, the competition is minimal, the people are typically more accessible, and the selling process is both faster and easier.
matcor9925
New Member
- 1
Where did you get this information? I'm not saying this isn't accurate, I'm just curious. Thanks.
- 1,908
My two book recommendations:
Atlas Shrugged by Ayn Rand
Selling to VITO by Anthony Pagniello
I agree to target the market that all the "Top Salespeople" aren't. The everyday people who have modest to upper moderate resources, who are not called on because they are not "the flavor of the month".
Atlas Shrugged by Ayn Rand
Selling to VITO by Anthony Pagniello
I agree to target the market that all the "Top Salespeople" aren't. The everyday people who have modest to upper moderate resources, who are not called on because they are not "the flavor of the month".
Not sure exactly where I read it, but it was a LIMRA report from about a year ago...
