New preneed and final expense insurance agents are up against a lot when they start in this field. We at SNL have years of experience supporting new insurance agents while they establish themselves and get the hang of things. So let’s take a look at the top 3 reasons why new final expense and preneed insurance agents fail.
Eyes Bigger Than Your Stomach
A big folly of any new job is having expectations that are too high and too fast. Focusing on money right from the start is a sure-fire way to be disappointed in your progress. We’ve seen final expense and preneed insurance agents get very frustrated when they don’t see the immediate results they expect. Our advice: focus on people, not dollar signs. Insurance is all about relationships and building trust with a solid client base. Relationships and trust take time. Preneed and final expense insurance is a lucrative business only when those human connections are forged first.
Learn from Someone Else’s Mistakes
End-of-Life insurance is a complicated field that really should not be self-taught. The quality of your training will directly translate to success or failure in your first year of work. As you begin to build your client base, having that mentor with years under his or her belt could make all the difference in your outcomes. At SNL, we know the value of expert training and experienced mentorship. All of our managers have been producing agents, selling insurance to diverse clients in a multitude of financial situations. Our trainers draw from their experiences selling at the kitchen table. Our advice: utilize your manager who intimately understands the pitfalls of final expense and/or preneed insurance so they can steer you clear of the mistakes most new insurance agents make. Make your training a priority while you search for coworkers who will advocate for your education.
Don’t Put All Your Eggs In One Basket
A huge aspect of starting off strong is advertising. To build a solid client base, you need a name and a brand that people can recognize. This means a lot of work on the front end to build these things. Have professional pictures taken, make business cards with reliable contact information, create a social media presence by starting Facebook, Twitter, and Instagram profiles. Since successful preneed and final expense insurance agents build trust with their clients, it’s important to have a presence in the community and on the internet for people to research who you are and what you’re all about. Our advice: start with people you know. Practice talking with them in a casual setting and trying out your sales pitch. But don’t be narrow-minded! You should be establishing yourself in multiple places online and networking in person, as well as cultivating clientele from your friend base.
Final expense insurance agents have a lot of potential to make a lucrative living with flexible hours. Don’t let the overwhelming demands of starting out discourage you: there may be many new insurance agents who fail, but there are many more who find success and build a life-long career out of final expense insurance.