Are you thinking of becoming an insurance agent? Whether you’re a young person beginning your first job or an experienced professional looking to make a change from another field, there are lots of good reasons to consider the insurance industry.
These tips for new insurance agents will help you get the strong start you need to be successful in this industry.
1. Be Committed to Helping Others
As an insurance agent, your client/members turn to you to help them protect them from hailstorms, auto collisions, livestock market changes, long-term care costs, the loss of a family member and other unexpected problems. That means when they face some of their worst days, they’ll count on you for support.
Supporting them means you work personally with each client/member to help them prepare for the future. You need to take the time to understand your client/members’ needs, their families, their financial situations and the possible risks they face. You’ll work with them to find the products that give them the protection they need and to reevaluate their situation over time as their lives change.
As you build rapport and trust with your client/members and their families, you won’t just be their insurance agent, you’ll be a lot more. You’ll become a trusted community leader people know they can count on.
2. Be Independent
When it comes to being a good insurance agent, the ability to be a self-starter is at the top of the list. As a Farm Bureau agent, you own your own business. So, you need to be able to manage your time, make staffing decisions and create and execute processes that work for you.
That ability to work independently brings some solid benefits. It gives you the freedom to grow your business and the flexibility to spend your time the way you want. Work-life balance is a key benefit for a lot of insurance agents. Agents can manage their schedules so they can raise their children, coach high school sports, travel with their families and more.
And even though you own your own business with Farm Bureau, you’re not doing it alone. You’ve got a company that’s been thriving in this industry for more than 80 years — and a team of managers, underwriters, coaches and other professionals — behind you to help you succeed.
3. Be Prepared to Work Hard
As an insurance agent, you’re in control of your income. You earn commission on the products you sell and residuals from your past sales. It’s also possible to earn cash awards and travel incentives. So, landing client/members and keeping them happy is a cornerstone of success. The harder you work to grow your business, the more it will thrive and the more you will make.
As a Farm Bureau agent, you can earn additional commissions and bonuses in your early years. And Farm Bureau agents come out ahead of other insurance agents financially. On average, a first-year Farm Bureau agent makes 49% more than agents with other companies. In 2023
- The top 50% of agents earned at least $225,793, and their average income was $586,170.
- The top 25% of agents earned at least $448,246, and their average income was $859,263.
- The top 10% of agents earned at least $794,975, and their average income was $1,269,892.
Take the Next Step Toward Success
If these tips sound like you, becoming an insurance agent might be a move to consider. Reach out to learn whether being an agent is right for you.