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Roy Said:

How much do auto insurance agents make there first year?

We Answered:

Breaking into insurance sales is very tough. Many agents have parents who own agencies, and learn the business that way. Many more work for an insurance company in marketing, etc. This allows them to learn the business, and then they can buy out an agency. There are a few companies that are willing to hire and train you. But those opportunities are few.

The best way for a person without connections or years of experience to break into the field is to get a customer service rep (CSR) position at an existing agency. The pay isn't great, but the knowledge you gain will help you work your way into an agent position.

Agents work for commissions only. This is why there is a high failure rate. It take awhile for an agent to build up renewal commissions to be able to earn enough money to live on. As for leads, some companies are better than others. But in the end, if someone has a solid lead, they aren't going to give it to you, they will take it themselves.

Danny Said:

Is there a course for auto insurance agents?

We Answered:

Generally, there are two licenses required to sell insurance.

First of all, the state certfies, by a written test, that you can be an agent. The insurance department also certifies the educational offerings, either approving them -or not. Accordingly, they'll have a list of available courses which are frequently taught in the evening at a community college. Once you complete the course, you report to a place to take the state test. In general, there are 4 types of licenses: Property, Casualty, Life and Health. If you want to sell personal auto insurance, you would take the property and casualty test.

That's level one - YOU.

Your license, however, doesn't necessarily mean you can actually sell insurance. The insurance company or agency for whom you wish to sell must, itself, also be licensed. It is safe to say that if they have an office and are doing business, they are licensed.

From time-to-time, all the companies that write insurance directly (through their own agents, not through independent agencies. Examples: State Farm, Allstate) look for new agents. If they like you at interveiew, they'll either send you to a local licensing course, or to their own insurance schools. There are, however, some insurance jobs that don't require a special license, such as paying claims. Often, working in the claims department is a way to get your foot in the door. Once you're in, then you can sign up for courses and get your certification.

Few, if any agents, sell auto insurance alone. Usually, they sell both auto and homeowners coverage, known as "personal lines" of insurance. This includes some specialty lines sucbh as RV coverage and boats. And often, there is a requirment to offer life insurance, because that's where the "big" money is.

You may find a good opportunity working for an "independent" agent, a shop that sells the products for a few or very many insurance companies. MetLife, the Hartford and Fireman's Fund are examples -but there are hundreds of others.

Here are the three things that will make you an attractive job candidate:

1. You dress well and are well groomed. Lose the pierced tongue.

2. You speak and write well, and in complete sentences. Forget "RU," and such short-cuts. The word "I," referring to yourself, is always capitalized. Your spelling is good.

3. You're good with math, some formulas and figuring percentages. You know how to calculate the area of a room or a building, for example. We're talking about the 4 functions here (add, subtract, multiply, divide). Algebra is not necessary.

In general, you have a professional manner about you. The business is very competitive, so appearance really does count.

I hope this helps.

Colleen Said:

What is the LEAP assesment for insurance agents?

We Answered:

LEAP (LOMA's Employee Assessment Program) - a web-based pre-employment testing program that measures a variety of skills. In addition to assessing cognitive skills such as math, language, speed and accuracy, LEAP also covers "soft" skills such as problem-solving, decision-making, ability to deal with complexity, interpersonal communication and customer service.

There is no "prep" for this in the same way as a KAPLAN type prep.

To your added information, I would say that it is more a test of your common sense and accumulated knowledge.

Annette Said:

What is the game that insurance agents play when they buy (pay for) clients insurance?

We Answered:

It is HIGHLY ILLEGAL for an agent to pay for his clients insurance. This is called rebating. Not only is it illegal, it also makes for unfair competition.

If an agent pays a months payment for a client in order to get his business, naturally he's going to go with that agent. When other agents are out there trying to write business legitimately, they cannot compete.

Example:

Let's say one agent makes a proposal for a policy with a monthly premium of $50 a month. Then another agent makes a proposal, and his premium is $50, but he pays the first payment. With both policies the same, the client would likely go with the one that his first year premium is $550, instead of $600. ($600 - $50 = $550.) Although this is illegal, there are unscrupulous agents out there who will do this to make a sale to qualify for a contest.

Let's say the above is an example for a life insurance policy. In this scenario, if the agent's first year commission is 80%: $600 X .80 = $480 - $50 (for payment of 1st premium), the net is $430. The agent still made money.

Another way an agent might consider paying a premium is when the end of a qualifying period for a sales contest is coming up, and a policy is about to lapse due to nonpayment, he might pay that one months premuim so it won't lapse and cause him to be disqualified to win the sales contest.

It's against the company's policy, contest rules, and it's ILLEGAL.

Hugh Said:

I am interested in finding out how to work from home setting leads for Insurance agents.?

We Answered:

job-search.awardspace.com - try this site. You can compare such online job offers here.