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The Importance of Insurance Sales Training

Posted in Insurance Insights on October 15, 2021 by Matthew King, it takes minute(s) to read this article.

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Are you considering a career in insurance sales? Or maybe you have started already but aren’t seeing the sales numbers you were expecting?

The average insurance agent earns an average salary—netting around $50,600 per year. However, above-average insurance agents make very much above-average earnings, with the top 10% of earners enjoying a comfy income of over $125,610.

What is the secret to entering this top tier of earners? Experience has a lot to do with it, but, a lot of agents spend years in the field without moving the needle on their earnings, and without increasing their closing rate.

If you want to make sure you don’t get stuck with average sales numbers and earnings, insurance sales training is the ingredient you need to drive results and grow your sales month after month. 

Insurance sales training can get you started on the right foot. It can also revolutionize the way you sell, and allow you to refine your process over time for maximum success.

Unfortunately, many insurance agents don’t realize how pivotal training can be in their career journey. Don’t let this be you. Instead, continue reading to find out why insurance sales training is so important for growth.

You’ll Get To Know the Different Products Better

Wondering “why do I need insurance sales training?” One of the first reasons is it gives you additional information on the products you’re going to sell.

One of the issues new agents face is a lack of understanding of the different insurance products. This can make it very difficult when it comes to deciding which carriers to contract with and what products to specialize in. 

Whether you’re taking auto insurance sales training, life insurance sales training, final expense, or Medicare training, your courses should give you a good overview of the different types of products you can sell.

Once you have gotten licensed and are ready to contract, you might still undergo further training around products, either from carriers or through your IMO.

You’ll Be Able to Better Serve Your Clients

Having a detailed understanding of your products and how they work, will allow you to better serve your clients. 

The top concern for just about anyone buying insurance is that they understand the product they are taking out. Insurance policies are not that easy to understand for the average consumer. Because of this, agents are increasingly taking on an advisory, consultancy-based role, rather than that of a simple salesperson.

What this means is that you need to have a detailed understanding of your products, and which ones can best serve your client’s unique needs.

If you know your products inside out, this will show when you’re dealing with clients. On the other hand, if you’re a little vague on the details and how different products compare, clients will pick up on this. This can erode their confidence and prevent them from making a buying decision. 

You’ll Learn Advanced Sales and Prospecting Techniques

If you’re still wondering “what is insurance sales training good for, and how will it help me?” another reason why it’s so important is it teaches you sales and prospecting techniques.

Unless you have a background in marketing, it’s unlikely you have the skills and knowledge to comprehensively generate leads. Even if you do, insurance sales training will help you hone those skills and apply them to insurance specifically.

If you have zero experience in things like marketing, lead generation, and prospecting, insurance sales training will walk you through the basics. Once you have mastered the fundamentals, a good training program will go on to supply you with advanced techniques.

Here at Final Expense 101, we know how vital sales and prospecting techniques are for agents. This is why our training covers everything. From beginner-level material right up to highly refined strategies and techniques. 

If you’re an established agent and just not seeing the growth you want, these types of advanced selling techniques are probably just what you need to accelerate sales. 

You’ll Build People Skills

Besides teaching you vital sales and marketing strategies, insurance sales training will also help you build people skills.

Honing your people skills is absolutely essential in insurance sales. The better you are at interacting with your clients, the more success you will see. 

As an insurance agent, you’ll get lots of opportunities to practice your interpersonal skills out in the “field.” However, comprehensive insurance training can give you a lot of tips and pointers to start interacting with clients on the right foot.

You’ll Close a Lot More Sales

One of the biggest benefits of insurance sales training, and why it’s so important is it will ensure you close more sales.

We have firsthand experience of this, having seen how agents taking the Final Expense 101 training have skyrocketed their closing rates and income. 

What’s more, you don’t have to take just our word for it. Research shows that agents who undergo training can see a 61% increase in sales right away. 

Closing more sales doesn’t just mean you’ll earn more commissions. It also increases the ROI of your time and investment into your business.

Besides this, with higher closing rates you don’t have to work as hard to achieve success. If you value your time, you’ll want to maximize it and ensure that as many meetings as possible result in a sale. Insurance training is the number one way you can achieve this.

As the old saying goes, work smarter, not harder. By investing in training, you’ll be able to direct your energies to techniques that pay off and start working smarter rather than harder. 

Insurance Training Gives You the Competitive Edge

Reports show there are more than 529,000 insurance sales agents in the US. This is a fair amount of competition. Most insurance agents aren’t competing for clients on a national level, but you still need to carve a way for yourself in your local market.

Investing in insurance sales training is one of the best ways to give yourself the competitive edge you need to forge ahead. If you can implement better sales and prospecting techniques than competitors, you will most likely become the go-to agent in your area.

Although there are many skilled agents out there, there are also a lot who haven’t had additional insurance sales training.

All agents need to complete some basic training to get licensed to sell insurance. However, many agents stop at this and don’t further their education.

Insurance sales is one of the few lucrative fields that have almost no educational prerequisites. You don’t need a degree or any college training to study for and obtain your license.

Because of this, some people assume that training isn’t necessary for selling insurance. This couldn’t be farther from the truth.

If you take insurance sales training, you’ll not only accelerate your business, but you’ll also stand out a mile from agents who are doing the bare minimum. 

You’ll Get Access to Support

Another reason why insurance sales training is so valuable is it can give you access to much-needed support.

If you’re in the process of becoming an independent agent, you probably have a lot of questions. Maybe you’ve encountered some problem areas, and you really wish there was someone you could call and get advice from.

We understand how important support and mentorship is to agents, both new and experienced. This is why we offer unlimited one-on-one coaching and support with our memberships. 

You can schedule unlimited support during office hours and get advice on things like policy placement, case design, business best practices, and more. 

Insurance Sales Training Can Provide You With a Sense of Community

An insurance sales career can be both rewarding, lucrative, and flexible. However, if you’re going at it alone as an independent agent, there is often one thing missing. And that is community.

Unless you already have a network of agents with who you’re friends, it can feel like you are all on your own.

Engaging in insurance sales training connects you with trainers and facilitators who are experts in your field. This connection can be great for one’s morale, and remind you that you’re part of a community and an industry. 

Looking for the Best Insurance Sales Training?

Insurance sales training is indispensable if you want to join the ranks of top-performing sales agents. Whether you’re a new agent, or a seasoned one who wants to step up their game—training can be the make or break factor between success and mediocrity.

There are lots of mediocre agents out there, ones who never took the time to hone their knowledge and their sale strategies. By investing in training, you can instantly set yourself apart from run-of-mill agents.

However, you have to find the right training.

Looking for the best in final expense insurance training? We specialize in helping final expense agents reach their full potential and nail their career goals and sales targets.

With our training, you get access to hours of on-demand training. As well as case studies, limitless coaching, and a range of exclusive discounts to help you save on start-up and running costs. 

For more information, check out our membership pricing plans today. 

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