Life Agent Comes “out of the Closet”

[Brian Anderson]

They didn’t tie this into Life Insurance Awareness Month, but could have. Article on Huffington Post by a long-time life insurance agent who finally identifies himself as such after years of masking his true career.

Life Insurance Advisor: Out of the Closet*|*Don McNay

Does the negative stereotype associated with being a “life insurance agent” a la Ned Ryerson in “Groundhog Day” commonly prevent agents from identifying themselves as a life insurance agent?

Other titles I typically see used by insurance agents are "Financial Consultant," "Wealth Manager," "Financial Advisor" or simply "Broker." If you are essentially a life insurance agent but have a different job title, what is that title and why do you use it?

I'm not saying it's a bad thing not to not have a formal "life insurance agent" job title, given the general public's misguided perception of life insurance agents. Just curious about different job titles and why they may be preferable.

 

[DHK]

http://www.insurance-forums.net/for...ions/so-what-do-you-call-yourself-t60985.html

Today, even according to LIMRA's own LIAM... more people are concerned about getting out of debt and funding their retirement, than obtaining insurance.

Perception is reality... and unless the public can see you as someone that can help them with THEIR problems... then your product solutions mean little to nothing to them.

Unfortunately, announcing yourself as a life insurance agent makes others think that all you do is sell policies... when just doing a proper fact-find can be the best part of your services.

My title: Chartered Financial Consultant. I am a ChFC designee... and it's more applicable to the way I work... even without a securities license. I'm not someone that just gives or sells by the quotes I give. I do a full financial review and fact-find to help determine what my clients have going on, and share various financial strategies to coordinate their "buckets of money".

I probably can't (shouldn't) call myself a 'financial planner' or a 'financial advisor' without being a CFP or affiliating/forming an RIA.

It's a legal technicality that I have embraced. I'm still held to a higher standard though:

Calling yourself an expert may expose you to damages. Best Practices

 

[LifeWorth]

http://www.insurance-forums.net/for...ions/so-what-do-you-call-yourself-t60985.html

Today, even according to LIMRA's own LIAM... more people are concerned about getting out of debt and funding their retirement, than obtaining insurance.

Perception is reality... and unless the public can see you as someone that can help them with THEIR problems... then your product solutions mean little to nothing to them.

Unfortunately, announcing yourself as a life insurance agent makes others think that all you do is sell policies... when just doing a proper fact-find can be the best part of your services.

My title: Chartered Financial Consultant. I am a ChFC designee... and it's more applicable to the way I work... even without a securities license. I'm not someone that just gives or sells by the quotes I give. I do a full financial review and fact-find to help determine what my clients have going on, and share various financial strategies to coordinate their "buckets of money".

I probably can't (shouldn't) call myself a 'financial planner' or a 'financial advisor' without being a CFP or affiliating/forming an RIA.

It's a legal technicality that I have embraced. I'm still held to a higher standard though:

Calling yourself an expert may expose you to damages. Best Practices

I want the beautiful gal in that video to solicit me for an appointment. The answer would be "yes".

 

[rousemark]

What is news about a life insurance agent coming out of the closet? There have been gay insurance agents for years..

I think a person's "title" should reflect their primary activity.. If you make your money by selling insurance on commission, then you are an insurance Agent, Producer or Sales Person, etc. You are not an adviser or any of the other fancy titles unless you are being paid for that activity aside from the selling of insurance products. JMO..

 

[bill3173]

There are some life agents on the forum that should come out of the closet and this is a good opportunity.

 

[walthamny]

I love this article and I have been out of the closet for 4 years, even though I got licensed 10 years ago. I occasionally say what I learned from a great NY Life agent,( I don't want you to run away from me or anything but I sell life insurance). If said in the correct tone and manner, it is great conversation starter. It makes people smile, and they try to sell you why don't need life insurance or some other response that you can turn into a conversation. If they like you at the end of the conversation, you have a prospect. It beats I am financial advisor or wealth manager titles that are so generic.

 

[pere490]

I have heard many different ways to approach people with a title. I think if you put a title out there then people are going to base what you do on their preconceived notions of what a life insurance agent, financial advisor, etc is. To answer the original question when I was non securities licensed I called myself an insurance and retirement planner. However, now I am fully securities licensed and have had my CFP(R) designation for 6 years. When asked what I do I avoid Financial Advisor or even Financial Planner. I am still working on what exactly I want to say to that question, but some things I am using and seems to get people interested in talking more are; "I have my own financial practice client comes to me for help with debt and cash flow concerns, tax reduction, building wealth for retirement....." Pretty much anybody will have a concern about one of those. Of course I tailor to the person(s) if you know they have kids you can throw in college savings, if a business owner with employees "I help business owners with employee retention" that leads you into employee benefits and company retirement plan discussion. I know it seems like you are avoiding the question, but you want people to start asking questions not think to themselves you are another financial person trying to sell them something. One last point get to know your competition in my case I have researched other firms through talking with colleagues and my extensive experience. Everybody is working with somebody else so you have to let people know why you are different.

 

[Brian Anderson]

Thanks all for the responses so far - some interesting thoughts on the matter. DHK, like the idea of using the Chartered Financial Consultant (ChFC) designation as a title, and walthamny your approach sounds like a good ice-breaker. Pere490, welcome to the forums - I look forward to reading more posts from you.

 

[MW Agent]

Has anyone had sustained success calling themselves a life insurance when prospecting on the phone? Not talking leads that requested information at one time, but a cold list. I have tried it and kept getting shot down when the words left my mouth.

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I have heard many different ways to approach people with a title. I think if you put a title out there then people are going to base what you do on their preconceived notions of what a life insurance agent, financial advisor, etc is. To answer the original question when I was non securities licensed I called myself an insurance and retirement planner. However, now I am fully securities licensed and have had my CFP(R) designation for 6 years. When asked what I do I avoid Financial Advisor or even Financial Planner. I am still working on what exactly I want to say to that question, but some things I am using and seems to get people interested in talking more are; "I have my own financial practice client comes to me for help with debt and cash flow concerns, tax reduction, building wealth for retirement....." Pretty much anybody will have a concern about one of those. Of course I tailor to the person(s) if you know they have kids you can throw in college savings, if a business owner with employees "I help business owners with employee retention" that leads you into employee benefits and company retirement plan discussion. I know it seems like you are avoiding the question, but you want people to start asking questions not think to themselves you are another financial person trying to sell them something. One last point get to know your competition in my case I have researched other firms through talking with colleagues and my extensive experience. Everybody is working with somebody else so you have to let people know why you are different.

I stuggle with this as well. I usually just say I'm in the financial services business. In a social setting like the wedding this weekend, most people ask what company and that gives a little opening to talk further. When actively prospecting for new clients, I still just say my firm name, that I'm in the financial services business, then ask a question. I've found as long as the conversation keeps moving, it really doesn't matter what I call myself. That being said, I have found "life insurance agent" to be an instant conversation stopper more times than not.