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Do your realize how many Insurance Agents Are Starving?
submitted: Jul 19th 2008 |
by: donaldyerke
Total views: 4 |
Word Count: 763 |
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We are going to reveal straightforward information to you. An insurance agent should not be your occupation of choice. The cards are so stacked against you, and your insurance company and office get to pick the cards. Even if you chose the right card, you would not be the winner.
This year alone, nearly 250,000 agents throughout all the state will become licensed. The next generate into the ranks of annuity, health, and life insurance agents. None of them will first read this factual report. We challenge any career insurance agency to provide prospective agents with a copy of this report.
In every state, famished insurance salespeople are abundant. Starving new insurance agents are all around you. Every year over 200,000 newly licensed agents will drop out. They can't make enough income. Imagine than in 4 years, for every 500,000 people that attempt to make selling insurance a career, only 3,000 agents will move out of the rookie status. Who is going to help them carry on?
A hint: it is not the insurance company or even the insurance agency.
There are over 1,500,000 health and life insurance agents. All licensed by insurance departments within the United States. Hundreds of thousands of new insurance agents are either poorly trained, have an insufficient number of clients, or should have never been hired. Removing 500,000 not needed rookie agents today would strengthen the insurance agency system.
Searching for prospective new recruits is one of a career agencies top priorities. One the best methods to do this is with Sunday classifieds. Big impressive ads. That have you almost salivating at the amazing opportunity offered. Who would not want this licensed professional job. Unlimited opportunities, full company support, and quick jumps in income. They all sound too good to be true. However in the haste for quantity versus quality, the sales managers reject way to few applicants. Agents that can not sell, just end up deeper in debt when they leave.
Another 25% of non survival goes to insurance agent recruiters for providing false concepts, and very poor and insufficient training. Most newly licensed agents anticipate easily obtaining incomes exceeding $40,000 to $70,000 their first year. Our intense studies show less than 7% of these rookies ever obtain that level .in 4 years! In fact, if most insurance agencies did not money subsidize their newer agents; the first year income of a new insurance agent would be under $20,000. A newly licensed agent blindly enters the insurance business. Being told by the sales manager of the great income potential is very misleading. Here you have the agent anticipating a $40,000 to $70,000 income. Instead the salesperson is more likely to earn closer to $20,000 or less. Plus after putting so much gas in the car, and driving so many miles, makes this figure rapidly shrink. When the bills get too high to handle, the agent knows he was duped. It is soon afterward the salesperson is out the door. What you hear or see is not necessarily true. The blaringly proves itself visually with an insurance company's jumbo insurance recruiting ads. The sales manager is an expert at telling you things that will not come true. This powerful combo effect is very effective in drawing the interest of many job seekers. Being selected to fill this unlimited position is far too easy. When the agent finds himself making fast food wages he realizes he was suckered in. After self evaluation of the situation, the agent quickly moves on.
When an agent decides it is time to quit, and go elsewhere, it is no loss to the insurance company. In fact it is a financial blessing for them. If the salesperson had written $50,000 to $100,000 in policy premiums, that if great for the company. When the agent is terminated, all current proceeds, and all policy renewal dollars go into the coffers of the insurance company and agency.
When an agent decides it is time to quit, and go elsewhere, it is no loss to the insurance company. In fact it is a financial blessing for them. If the salesperson had written $50,000 to $100,000 in policy premiums, that if great for the company. When the agent is terminated, all current proceeds, and all policy renewal dollars go into the coffers of the insurance company and agency.
What is ideal is not always realistic. Pushing agents to immediate sell very large life insurance policies to successful business owners is an example. This is ideal for the benefit of the insurance company. However for the agent it is usually not realistic.
About the Author
Yearly, over 2000,000 agents find financial reasons forcing halting their insurance career. The agency has no remorse for their poor selection process and lack of personal training. When the agent quits everything changes. Now the insurer collects 100% of all premiums, plus years of renewals. Get a totally unique version of this article from our article submission service
Article Source: Unique Financial Articles
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