Life as an Insurance Advisor, Is this the Ideal Job for You?

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Who wants a boring 9 to 5 job? Certainly not you! And that’s likely when you are searching for a job that pays well. The reality is that work doesn’t have to be a mundane experience that you have to survive each day. You don’t simply need to work to bring home that paycheck. You could find a fulfilling career that helps you contribute to other’s life.

Insurance Agent’ is one such option that provides personal fulfilment and leads to a successful career!

An insurance agent’s role is largely that of a counsellor and a facilitator who helps prospective customers buy the best life insurance products for their varied requirements.

If you are considering this career option, it is vital that you first understand the importance of Life Insurance.

Life Insurance: Need of Every Household

As people get married, start businesses or build families, they come to realize that life insurance is a fundamental part of their sound financial plan. Meaning, if an individual’s loved ones depend on him/her for their livelihood, then life insurance is a must as it can help replace the income after the demise of the bread earner.

Life insurance is especially important for adults with dependent parents, married individuals with stay-at-home spouse and parents of young children. Having access to this significant financial tool can help provide for life after death and offer financial independence to surviving members by paying a lump sum amount or regular payments after the insured’s demise.

Therefore, when it comes to life insurance, people look for trusted insurance agents who can give accurate information on life insurance products to suit their needs. People always stay away from agents who make tall promises or try to oversell products.

Let’s understand the few roles and responsibilities of a successful insurance advisor:

1. Educate Your Client on Different Insurance Products

These days there is a multitude of life insurance products available in the market.  For instance, reputed insurers like Max Life Insurance offer a plethora of life insurance products including term insurance, retirement plans, ULIPs and child education plans. Therefore, clients prefer someone who can effectively educate them on these products, and help make prudent decisions about which life insurance policy is best for them.

Remember that customers will buy only because they trust you and your promise, therefore, adopt a positive and helping attitude and strive not to let down your customer’s expectations.

2. Become a Consultant for them

Most individuals like to consult with experts when making long-term financial decisions. Therefore, as an insurance advisor, it becomes your responsibility to share your expertise with them. Expertise can be achieved by staying up to date on current industry trends and information.

One thing that you need to excel at is assessing your client’s needs. Even if you are pretty sure that a particular policy is the right one for the client, refrain from recommending it too quickly. Instead, ask a lot of questions to get a thorough picture of their current financial situation, goals and needs. Provide them with accurate facts and figures whenever required and answer to their all possible questions.

3. Help Them See the Bigger Picture

As an insurance advisor, it is your responsibility to help your clients see the bigger picture. Meaning, make them understand how a particular life insurance policy will fit into their overall financial goals. You must also educate them on any changes required in their policy at important milestones.

Put simply, if you are selling a life insurance policy to individuals who are currently single, you must educate them about their needs once they get married and have kids and accordingly suggest a suitable policy to them.

Seeking New Clients

To ensure that you continue getting work, you need to reach out to new clients regularly. You need to call your clients and potential clients to grow your customer base, meet with new clients to get information about their needs, match life insurance policies to their needs and explain them the benefits.

You can look for new clients through ads, seminars, workshops, newsletters etc. Also, if your current clients are happy with your work, they will refer you to their friends and family.

The Process of Becoming an Insurance Advisor

How to become an insurance agent in India?

To be eligible to become an insurance advisor, you must possess the minimum qualification of a pass in 12th standard or equivalent examination recognized by any board. Prospective agents must complete the “pre-recruitment test” conducted by IRDAI for insurance advisors.

At this point, you must also research the insurers with whom you would like to work. Many insurers have additional requirements that you may require to follow if you want to work for them. So, once you have done your research, get the hours of education required, take the exam, and pass it.

Armed with your knowledge and license, you will be ready for a rewarding career as an Insurance Advisor!

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