How to Become a Successful Life Insurance Broker

By Lorne S.Marr

The life insurance market is one of the fastest growing industries filled with great career opportunities. However, according to the last survey, it is also a field with really high turnover with approximately 80% of new brokers leaving the industry within the very first year.

First, you have to believe in your work and enjoy it. As a good broker you must believe in what you are selling. Your aim is to help people to protect their health, life, money. Be passionate about your work but be professional. Your personal approach is a key tool in building good relationship with clients. A passionate insurance broker is also an inspiration for colleagues and especially for new brokers.

Successful life insurance brokers know how to make an impression. They know how to talk, how to use body language, how to shake hands. Being outgoing is about making clients feel comfortable, creating a friendly atmosphere. Empathy will help you understand your clients' needs, worries and expectations. It helps you obey possible objections or misunderstanding. So be outgoing and empathetic, it is a key to your success.

New brokers also need to be prepared for rejection, because many prospective clients are not willing to face their own mortality and morbidity. Many will procrastinate and postpone potential meetings and even get verbally abusive. But rejection is not personal.

As a successful broker you need to know your goals. First, your companies' goals which are short term, mid term and long term. Also set your personal goals, they will keep you motivated. Achieving goals in time is part of your success. Right goals will help you to stay on the right track.

Top insurance brokers have tracking systems in place to analyze their production and administrative. They are also effectively able to keep track of when to contact clients and prospective clients. Success in the insurance industry requires passive persistence. Systematically keeping in touch with clients allows brokers to provide better service and also allows them to uncover potential sales opportunity like the birth of a child or the purchase of a new home.

Lorne S. Marr has been a very accomplished financial planner since 1993 and runs his own company LSM Insurance Services Ltd. He's recognized as an industry leader thanks to the commitment to providing clients with value-added services.