The Executive Suite: How to Make Money by Selling Life Insurance From Home

Thursday, November 14, 2013

How to Make Money by Selling Life Insurance From Home

Selling life insurance can be a lucrative business. A successful agent can build and maintain enough leads to establish a source of limitless residual income. Although the life insurance sales industry has a 98 percent turnover rate for the first three years after entering, the benefit of earning a large income from home is worth battling through the learning curve. Here is what you need to start selling life insurance from home.

Get licensed. Before you can get into the insurance sales industry, you must pass a state-mandated exam. Each state has its own test, but once you have passed one and been licensed, in most cases you can sell life insurance across all state lines.
Get appointed as an agent with an insurance company. Fill out an agent agreement for every company you want to represent, and send in the application with your insurance producer license information. When you get approved by an insurance carrier, you will be given a agent number to give to all your leads.
Develop a website. A brick-and-mortar office could help create a comfortable setting for customers, but it is not mandatory. A website can be run from a home office, and this will be recognized as the official location of your business. Information about creating your website can be found on the Internet.
Seek prospects through advertising campaigns. The advantage to selling life insurance from home is that the business is based on commission from sales, which allows for less start-up expenses and limitless growth potential. The highest commissions comes from senior citizen, whose policies tend to have higher risk rates with more immediate payouts. Focus your search for leads in retirement communities by passing out fliers and filling mailboxes with your contact information.