Life Insurance Agents and Brokers

Employers

Life insurance agents and brokers can be found throughout the country, but most work in or near large cities. The majority work out of local offices or in independent agencies or brokerages; others are employed at insurance company headquarters. There are approximately 547,600 insurance agents and brokers working in the United States. About 11 percent of insurance sales agents are self-employed.

Starting Out

Aspiring agents may apply directly to personnel directors of insurance companies or managers of branches or agencies. In most cases, the new agent will be affiliated with a local sales office almost immediately. To increase the agency's potential sales volume, the typical insurance office manager is prepared to hire all candidates who can be readily recruited and properly trained. Prospective life insurance agents should discuss their career interests with representatives of several companies to select the employer that offers them the best opportunities to fulfill their goals.

Prospective agents should carefully evaluate potential employers to select an organization that offers sound training, personal supervision, resources to assist sales, adequate financial compensation, and a recognizable name that will be well received by customers. Students graduating from college should be able to arrange campus interviews with recruiters from several insurance companies. People with work experience in other fields usually find life insurance managers eager to discuss sales opportunities.

In addition to discussing personal interests and requirements for success in the field, company representatives usually give prospective agents aptitude tests, which are developed either by their company or by LIMRA (formerly the Life Insurance Marketing and Research Association).

Formal job training usually involves three phases. In precontract orientation, candidates are provided with a clearer picture of the field through classroom work, training manuals, or other materials. On-the-job training is designed to present insurance fundamentals, techniques of developing sales prospects, principles of selling, and the importance of a work schedule. Finally, intermediate instruction usually provides company training of an advanced nature.