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What should I know before taking a sales job with a life insurance company?

I got offered a job at a life insurance company. Seems like a great company, but I don't know the first thing about selling insurance and working off commission. Any advice on what questions I should ask? Or feedback from someone who has had this kind of job before?

Public Comments

1. I find that many life insurance companies and their agents are crooks. Majority of those companies sell overpriced products such as whole life or universal life insurance. If you completely understand how these policies work, you wouldn't buy them. I don't know anything about you, but most agents will sell these crappy products to their friends and family first just to get a nice big payceck from each sale. To me, they have no soul or heart for what they did. I personally own a 20 year level term insurance. I invest my money in mutual funds. If I die during the term, at least my beneficiary will get everything. If I die after the term, my family will get all my savings. With whole life or universal life, you can only get back one. You can get the cash value and lose coverage if you cancel the policy or your beneficiary will get the death benefit if you die, but the cash value is kept by the insurance company. If you are looking to get into the field of life insurance, its going to be difficult selling it to strangers. No one really wants to talk about it. Your friends and family may buy from you, but what happens after when you run out of contacts? For me, I started my career with Primerica and been working there since 2004. They deal with various things such as getting people out of debt, saving for retirement, and getting the right amount of coverage on life insurance. They will teach you how to setup appointments and how to talk to clients and most important, how to get referrals. You will find that the company is very big on recruiting. When I recruit people, I have to encourage them to get their license so that they can help more families. Without a license, they can't get paid. When they do get their license and help a family, they get paid. When they get paid, I too get paid. Its like real estate. When an agent sells a home, the agent gets paid and the broker also get paid. In Primerica, it cost $99 to get a life license and a securities license. This is the only thing you have to pay. There are other services you can pay to help you run your business. You can subscribe to Primeica Online for $25/month. Primerica Online is an online support system that provides training videos, information on how to maintain your licenses, exam simulators, information about your clients, your productivity reports and your team productivity reports, company news, and all sorts of information. All these expenses including traveling expenses I pay are tax-deductible from any income I earn from my Primerica business. For example, If I earn $20,000 in my first year and have $1000 in business expenses, I will only be taxed on $19,000. I don't earn $20k, I currently earned $95k in the past 12 months. At Primerica, I feel great about what I do for families. I know that after I help them, they are on the road to being debt free and financially independent. Since I do a great job with them, my clients refer me to other people. I have never talk to people in the cold market (the market that doesn't have a single clue who you are). I have always stayed in the warm market (the market where your name and number was pass along to another person from one of your clients). You should check them out if you want to build a business and earn multiple streams of income.