How To Sell Insurance
As An Independent Agent
- Identify What Type of Practice You Want
45% of survey respondents are insurance-focused advisors who only sell insurance; 69% are independent.
- Choose a Target Market
46% of respondents sell to the Middle Market ($100k in investable assets).
- Select a core demographic
The largest segment of respondents sells to clients in their 50s (34%).
- Overcome Challenges
Prospecting for new clients is the challenge advisors must struggle to overcome (55%). followed by clients who don;t recognize the need for insurance(34%).
- Select The Right Products Lines
31% say life insurance is the product line that accounts for the majority of their income; health insurance came in second place at 23%
- Master The Art Of Prospecting
82% of respondents say that referrals is their most effective prospecting method. The runner up participation in community groups and association (34%).
- Grow Your Income
In 2013, 54% of advisors said their income had increased substantially or somewhat; just 16% said their income had decreased.
- Plan For The Future
A whopping 83% of advisors say they will increase in 2014; income.
- Hire The Right Team
62% of advisors have a team working for them; 15% employ 25+ people