Fantasy land it often too tempting to not take a risk at attempting. Who does not want to reach a very high middle class income their first year? Especially a level that would rival and exceed that of a new lawyer or doctor. If you are unemployed, or unhappy with your job, or looking for better pay could you resist? This is certainly an effective trap for catching a new insurance trainee.
If you read the classifieds, you will typically see the biggest ads being sales opportunities. The better the chance, the trickier the wording. These advertisements are written by some of the best sales copywriter professionals.. This is accomplished in the field of new agent recruiting by Insurance Companies and firms. Their insurance ads grab attention, tending to be the most tempting of all sales position openings.
Some of these insurance firms now provide an internet address, where you can get a surplus of fluff. In fact I have in my hands a copy of a nine page advertisement, that is a real knockout. It virtually guarantees the stairway to insurance sales heaven in just 12 months. Plus there are no previous sales experience or skills required.
First a quick dose of insurance trainee reality, and then I will get back to explaining all the fantasy.
“Help Me, I’ve Fallen and Can’t Get Back Up”, is not the mantra of senior citizens. It is the outcry of new insurance agents, while they stumble farther downhill. The career death pit lies just below, already mixed with those still gasping with those too injured to continue. If you decide to answer any of the insurance ads, you will be fighting defeat for four years. Over 90% of fellow insurance agent trainee will fall quickly. Four years does not mean a juicy income, but merely survival. I survived and prospered, others have too. Nothing in the insurance ads I read turned out to be logically true.
A potential insurance agent trainee must decide if ads like this are a real fantasy or a deceiving nightmare..
THE ULTIMATE FANTASY AD EXPOSED Listed are some of the insurance advertisement statements.
1. __________ agents can earn over $100,000 their first year. Currently 9% of insurance representatives earn $100,000 sometime later when then become a product specialist.
2. FREE Lead Program. This has more hooks and snags than a catfish trotline. The Wiggly bait somehow always slips away. A quality insurance lead costs $50.00 to $75.00 to obtain. Plus there is never a guarantee that the insurance lead will produce a sale. Maybe when someone makes you $500 or more, then you slip them a “free lead”
3. A management team with over 100 years of combined experience and success plan for our agents second to none. 100 years of combined experience mean nothing. That could be 2 people with 40 years average performance, combined with 5 people of 4 years of bouncing around “experience”. Every new agent recruiting firm can say that have a success plan second to none. That is because NONE have a true proven success plan
4.. Free product and sales training. You get this from weekly Emails, and the home office way over in Dallas, Texas. If 94% of locally trained agents fail, how is this better?.
5. They treat best producers to trips to Mexico, the Caribbean, and Orlando. (during hurricane season?). Win round trip airfare for you and a friend, plus a pass to attend the awards banquet. What about accommodation costs? How many are staff members attending and how many of the total are first year agents?
6. An option allows you to sell over the phone. Wow! How many life and health insurance representatives sell their client a policy over the phone? The answer is probably less than one tenth of one percent.
7. They calculate four issued and paid sales a week with $3,000 average annualized premium, will reach $102,953 income, which includes lead credits value. First, lead credits is a deduction from income, not a value. Given that most of these sales are major medical, still, who writes 208 policies for 3,000 premium. That means $624,000 of written and issued premium. Considering a new agent might get 50% of the profits, it made the management $100,000.
BACK TO REALITY LAND FOR AN INSURANCE TRAINEE
Real sales training for an insurance trainee is uncommon. Company provided scripts and manuals are hard sell and not prospect friendly. True leads are rare, so phone books are often referred to as your book of leads. You will be pushed to sell family, friends, and relatives. Way more than 60% of newly hired agents in their first year make enough money to survive. Incomes (without subsidies) of $15,000, $20,000, and $25,000 are typical. $1,000 premiums, and one or two sales weekly is more the normal. Remember when you leave all upcoming money from your sales becomes the property of the insurance company.
Make your decision on yourself. How is your determination, grit, attitude, and ability to be a self-starter? Read the ads, and show them to any insurance representative. Ask their opinion of how much is true.
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