What Does a Life Insurance Agent Do?

July 24, 2020

Life insurance agents help families and individuals protect their most valuable asset: their ability to earn an income. Agents specialize in selling policies that prepare a client for unexpected circumstances. They’re licensed professionals who sell policies to meet their clients' needs on behalf of one or more insurance carriers. To become a licensed agent you must first pass your state’s licensing exam.

Benefits of being a life insurance agent

Becoming a life insurance agent provides the opportunity to gain financial security, job security, the possibility of owning your own business, large room for growth, and a wide variety of job options. Even better, with competitive salaries and the option to set your own schedule and work from home, becoming an insurance agent offers a great work-life balance.

How an agent helps clients

An agent’s main goal is to help a client navigate all the nuances of life insurance and guide them through the process of buying a policy that meets their needs. While it is possible for a client to apply for life insurance entirely on their own, choosing the best and most affordable insurance policy can be tricky when you aren’t familiar with all the products and options available. Insurance agents are highly trained on all the available insurance products on the market and can help their clients find the most affordable policy.

Beyond helping clients shop and apply for coverage, insurance agents can help their clients find ways to lower their policy premiums and find additional benefits within their policy. If a client makes improvements to their health and lifestyle, the agent can help them get access to applicable benefits that certain carriers offer for healthy living, such as discounts and savings programs at partner stores and brands.

If the client requires additional coverage, such as disability insurance or mortgage protection insurance, the agent can help find the most affordable rates or help the client add riders to their existing coverage, hassle-free.

What does an insurance agent's day-to-day look like?

Life insurance agents typically do the following in a typical business day:

  • Contact potential clients to build their customer base and follow-up with current clients to see if they need a change of coverage
  • Explain the ins and outs of policies available to the client
  • Analyze clients’ current insurance policies and suggest additions or changes
  • Customize insurance policies to suit individual client needs
  • Perform administrative tasks, such as keeping records and handling policy renewals

There can be a lot of paperwork required in the insurance industry, and submitting changes to beneficiary information, policy loan applications or amounts, and updating records are frequent tasks of the job. Additionally, life insurance agents will have to analyze different types of policies and options to determine the most affordable rates for their clients.

Independent agents vs. captive agents

At Symmetry, our agents are all independent contractors who can partner with over 30 insurance carriers to provide clients with a completely customized life insurance solution. Captive agents work directly for one insurance company and they are limited to their parent company’s policies.

How do life insurance agents make money?

Most agents earn their money by commission via a percentage of the premiums of the life insurance policies they sell, rather than a salary. According to ZipRecruiter , insurance agents earn on average $79,000 per year. The U.S. Department of Labor states that these positions are growing at a 10% rate faster than average, so the industry is growing, leaving ample room for opportunity.

Due to this being a commission position, the agent has a vast amount of flexibility in their position. Instead of having to stick to a set work-week, like a 9-5, insurance agents get to set their own schedule. This work-life balance is a big perk for many agents.

Our commitment to our clients

At Symmetry, we want to make sure our clients have all the information they need to confidently make the best decisions for their families. We partner with over 30 insurance carriers so we can provide our clients with a completely customized insurance plan. And with a product portfolio ranging from term life insurance to mortgage protection insurance and custom solutions like our Debt Free Life plan, our agents have plenty of options to offer clients. Symmetry agents help clients decide which insurance plan best fits their needs and is well within their budget.

Interested in starting a career as a life insurance agent?

If you want to join a team of agents who are making a difference in the lives of clients nationwide, consider working with Symmetry Financial Group - Our agents get to experience the Symmetry difference daily.

We have been recognized on the Inc. 5000 list of fastest-growing companies for four years in a row and Entrepreneur Magazine’s Top Company Culture list for two years running and we offer our agents competitive perks and industry-leading technology. Learn more and join us today!

 

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