Are you thinking about what you want to become when you get out of high school? Are you interested in becoming a life insurance agent? If these questions linger in your mind, you should read on to learn the aspects of being a life insurance agent. Get ready to dive into the career of being a life insurance agent from a discussion with Traci Ngoc.

“My goal now is to combine my passion for helping others with my new focus on financial literacy and protection,” are words from a life insurance agent.  Traci Ngoc dreams of helping families that are struggling financially due to factors such as illness and a lack of resources. At the start of her career, she wanted to pursue something that involved helping low income families and this has led her to realize the importance of financial security. 

What majors should you study when becoming a life insurance agent? 

There was not a specific major that Ngoc needed to study for this profession, although her background in social work had blessed her with skills such as: communication, empathy, and problem-solving. These three skills are very valued in this field of work. When looking for fields to study for this job, financial education, business, and psychology are very useful.

What motivated you to pursue the career of a life insurance agent?

“My motivation stems from a desire to address the financial struggles I observed in families during my social work career. I realized the importance of life insurance and financial literacy in helping families protect themselves. Additionally, I wanted to achieve financial freedom for myself to expand my ability to help others.” 

Ngoc’s motivation came from wanting to help others. If you are the type to want to help families and build happier lives through financial freedom, being a life insurance agent is a very good fit for you!

What is the most difficult part of being a life insurance agent?

Every job has their difficulties, and in the job of being a life insurance agent, Ngoc finds these factors to be the hardest:

-Building trust with clients, especially when discussing sensitive financial matters.

-Managing rejection, as not everyone will be receptive to purchasing life insurance.

-Continuously learning and staying updated on policies, regulations, and financial strategies.

Is everyday different when you are a life insurance agent?

“Yes, each day can vary depending on the clients I meet, their unique needs, and my focus. One day might involve consultations, while another could be spent on networking, attending training, or handling administrative tasks.” 

This line of work requires meeting with many different clients with different situations.

What is a typical day of a life insurance agent like?

A typical day in this line of work may include:

-Meeting with clients to assess their financial needs and discuss insurance options.

-Following up on leads and reaching out to potential clients.

-Researching and staying updated on insurance products.

-Administrative tasks like paperwork and policy submissions.

-Networking with other professionals to build referrals.

What skills do you need to be a life insurance agent?

Many key skills include:

-Excellent communication and active listening.

-Empathy and the ability to build trust.

-Problem-solving and critical thinking.

-Time management and organization.

-Sales and negotiation skills.

What kind of licenses are needed to be a life insurance agent?

Of course to sell life insurance, you’d need a life insurance license and this usually involves:

-Completing a pre-licensing course.

-Passing a state licensing exam.

-Meeting your state’s continuing education requirements to maintain the license.

-Continue with meetings and trainings to keep yourself up-to-date with changes in the industry.

What is the salary range for life insurance agents?

Depending on your experience, location, or whether or not your working independently or for a company, on average:

-Entry-level agents may earn $30,000–$50,000 per year.

-Experienced agents or those earning commissions could make $80,000–$150,000+ annually.

What do you enjoy about being a life insurance agent?

Ngoc enjoys:

-Helping families gain financial security and peace of mind.

-Educating people about life insurance and financial literacy.

-The flexibility and potential for personal financial growth.

What things do you not enjoy about being a life insurance agent? 

Ngoc finds these aspects challenging: 

-Rejection or resistance from potential clients.

-Administrative tasks and navigating complex regulations.

-The need to consistently find and maintain new leads.

Overall, being a life insurance agent is a career that mainly involves helping others and building better financial security for families. If you are a person that finds joy in helping others, then maybe being a life insurance agent is a wonderful fit for you. 

Sources:

Traci Ngoc – Life Insurance Agent

Photo signifying stable families with life insurance: https://www.empowerbrokerage.com/becoming-life-insurance-agent-basics/