Frequently asked questions

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.

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.

Check the below Indeed career pages for the detailed pay ranges for the similar professions to insurance agent here:

• Sales Representative
• Customer Service Representative
• Account Manager
• Account Executive
• Outside Sales Representative
• Inside Sales Representative
• Retail Sales Associate
• Administrative Assistant
• Entry Level 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.

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.

Below are the skills needed to be an insurance agent :

• Positive attitude
• Great communication
• Customer service
• Quick learning
• Patience and persistence

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.

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.

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.

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.

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.

Main qualities of a good insurance agent include:

• People skills
• Entrepreneurial spirit
• Energy and personality
• Honesty

Insurance agents can earn extra money from commission made on the policies they sell and also from the premiums made on renewals.

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

Yes, according to the Bureau of Labor Statistics, the demand for insurance agents is projected to grow by 10% between 2018 and 2028.

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.

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.

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.

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.

Captive insurance agents are those who typically represent only one insurer. Independent insurance agents are those who typically represent more than one insurer.

The different kinds of insurance that an insurance agent can sell include:

• Life insurance
• Health insurance
• Travel insurance
• Property insurance