How can I know if I am being paid fairly as an insurance agent ?
If you’re unsure about what salary is appropriate for an insurance agent, visit Indeed's Salary Calculator to get a free, personalized pay range based on your location, industry, and experience.
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What is the main difference between a broker and an insurance agent?
The main difference between a broker and an insurance agent is that an insurance agent works directly for the insurance company while an insurance broker is independent of the company and may promote products from different companies at the same time.
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How does an insurance agent develop different packages for their clients?
To develop different packages, an insurance agent will consider the needs of every client and propose a product that suits that requirement.
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As an insurance agent, what does risk management involve?
As an insurance agent, risk management involves the proper identification of risk. After the risk is identified, the insurance agent applies the most suitable economic solution that will minimize damage caused by the occurrence of an unfortunate event.
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How many hours is an insurance agent expected to work?
Insurance agents usually work for eight hours a day and five days a week. The minimum working hours for a full-time insurance agent is 40 hours in a week.
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How much do similar professions to insurance agent get paid?
Check the below Indeed career pages for the detailed pay ranges for the similar professions to insurance agent here:
How long does it take to become a life insurance agent?
It takes around 50 hours of training from a training institution to become an insurance agent. However, in the case of getting a license, it requires to complete 75 hours of training.
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Is being an insurance agent stressful?
Insurance agents may experience stress at the start of their career while becoming acclimated to the job. Experienced insurance agents may develop stress with changes to their work or from trying to balance work-life.
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What skills are needed to be an insurance agent?
Below are the skills needed to be an insurance agent :
Positive attitude
Great communication
Customer service
Quick learning
Patience and persistence
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Who makes more money real estate agent or insurance agent?
Insurance agents and real estate agents are both sales professionals who focus on totally different types of products and services. Although real estate agents have more formal training requirements, insurance agents generally earn higher salaries.
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Do insurance agents get paid hourly?
Yes, it is possible for insurance agents to get paid by the hour. But many also get paid a salary. It varies from employer to employer.
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How long does it take to become a licensed insurance agent?
It can take around 3-4 weeks to obtain a license as an insurance agent. License requirements may differ depending on the type of insurance that an agent wants to sell.
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Is becoming an insurance agent a good choice for those transitioning to a new career?
Yes, becoming an insurance agent can be a good career choice for individuals making a switch to a different career. The barriers to entry are low and it isn't considered difficult to obtain a state license.
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What are the duties of an insurance agent?
Duties of an insurance agent include:
Identifying sales opportunities for insurance plans
Overseeing a portfolio of clients
Identifying risk management strategies
Handling policy renewals
Tracking claims.
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What are the main qualities of a good insurance agent?
Main qualities of a good insurance agent include:
People skills
Entrepreneurial spirit
Energy and personality
Honesty
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How does an insurance agent earn extra money?
Insurance agents can earn extra money from commission made on the policies they sell and also from the premiums made on renewals.
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What are the different ways to improve insurance sales skills as an insurance agent?
Some ways to improve insurance selling skills as an insurance agent include:
Lead generation
Appointment setting
Listening and asking the right questions
Ability to present and handle objections
Rapport-Building
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Are insurance agents in demand?
Yes, according to the Bureau of Labor Statistics, the demand for insurance agents is projected to grow by 10% between 2018 and 2028.
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What schooling do you need to be an insurance agent?
Prospective insurance agents will need a high school diploma or equivalent and have a license to be an insurance agent. Insurance licensing requirements vary by state.
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How does somebody kickstart a career as an insurance agent in insurance sales?
Understanding the business of insurance is key to kickstarting a career in sales as an insurance agent. Taking courses in finance, business and economics will also be beneficial if you wish to be successful in this career.
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Can an insurance agent work at home?
Covid-19 has prompted many companies to adopt remote working practices. As such, working from home is technically possible for an insurance agent at this time. Following the pandemic, companies may opt to retain their work from home policies in order to provide flexibility for their workforce.
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What benefits do insurance agents receive?
Insurance agents will generally receive the same benefits as other employees at their company. These benefits vary by employer but can include paid holidays, sick leave and health insurance.
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What is the difference between a captive insurance agent and an independent insurance agent?
Captive insurance agents are those who typically represent only one insurer. Independent insurance agents are those who typically represent more than one insurer.
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What are the different kinds of insurance that an insurance agent can sell?
The different kinds of insurance that an insurance agent can sell include:
