One of the main reasons insurance agents quit is the fact that they have unrealistic expectations. The insurance industry is huge, leading many people to think that they can easily earn large incomes by selling insurance. In reality, an insurance agent's income varies significantly based on numerous factors. In this business, no one fires you. Therefore, I think it's inaccurate to say that 93% of agents fail.
What I'm going to say is that within three years, 93% of agents choose to quit smoking. They quit smoking on their own, abandoning their dreams and goals due to a lack of clarity and emotional connection with their goals. The agents of reality enter the industry with visions of millionaire books and large commissions dancing in their heads. When that doesn't materialize right away, or even after several years, frustration can come to light.
Ignorance is not happiness. Socrates stated that the true measure of wisdom is that a person knows everything about themselves. Only then could they know what they didn't know. When it comes to being an insurance agent, you have to know your customer. You have to be aware of their needs and understand what motivates them personally and professionally.
Relationships only last when there is trust and understanding. This means that, in addition to understanding your customer, all members of your team must also do so. Otherwise, you're setting yourself up for a competitor to build a better relationship. We've enlisted the help of more than 100 established insurance professionals to learn why insurance agents often fail and what steps you can take to succeed. If you're ready to start your career in the insurance industry and get your license, Kaplan's insurance certification study packages can help you succeed.
Managing insurance agents is just one of the many challenges you face when running an insurance agency, but it's crucial. When you lose momentum and take on the burden of managing all aspects of the process on your own, you're acting as a life insurance agent and not as the owner of a life insurance company.
