Life Insurance Agents and Brokers

Unlike some occupations, many of the ablest people in the life insurance field are not interested in advancing into management. There can be many reasons for this. In some cases, a successful sales agent may be able to earn more than the president of the company. Experienced agents often would rather increase their volume of business and quality of service rather than their responsibility for the work of others. Others develop by specializing in various phases of insurance.

Still, many successful agents aspire to positions in sales management. At first, they may begin by helping train newcomers to the field. Later, they may become assistant managers of their office. Top agents are often asked by their companies (or even by rival insurance companies) to take over as managers of an existing branch or to develop a new one. In some cases, persons entering management must take a temporary salary cut, particularly at the beginning, and may earn less than successful agents.

There are several types of life insurance sales office arrangements. Branch office managers are salaried employees who work for their company in a geographic region. General agency managers are given franchises by a company and develop and finance their own sales office. General agents are not directly affiliated with their company, but they must operate in a responsible manner to maintain their right to represent the company. General insurance brokers are self-employed persons who place insurance coverage for their clients with more than one life insurance company.

The highest management positions in the life insurance field are in company headquarters. Persons with expertise in sales and field management experience may be offered a position with the home office.