The 5 Cons of Selling Insurance for Agents

Selling insurance is a conducive way to earn money and build a business with a great career path. But insurance of sale isn’t all rosy. Some days can be so stressful that you might feel like quitting. It is good to join the insurance business with optimistic hopes, but it is also great to know its downside. This helps you face reality from the get-go and avoid any unnecessary troubles. Below are some drawbacks of selling insurance. 

5 Disadvantages of Selling Insurance Agents Must Know

1. Long hardwork period

Everyone dreams of achieving a lucrative insurance business, but nobody wants to burn the midnight candle. Toiling for this success before reaping anything meaningful could take years to complete, and most people are impatient. Some of them would bail out within the first two years because of all the hard work needed. This is not to say that you might stave for years when you get into the insurance business, but you might earn an average of what others make in their regular jobs for years. 

However, if you plan to earn consistent passive income and high income, you need to put in years of dedication and hard work. There can be trying times when you might feel like quitting and packing your bags but remember that every year gets better. It would help if you stayed positive and shut your ears to the words of discouragement you might get from time to time. 

2. A lot of workloads

If you start as a part-time insurance agent, that wouldn’t be bad at all. It could help you adjust quickly. Working as a full-time insurance agent requires a lot of time spent working. This is usually the building stage, and it needs a lot of time and dedication to create a solid foundation. Remember how startups have a lot of workloads to go around? Yes, this scenario is not far-fetched. The good news is that if you keep pushing, you’ll eventually be able to reduce your workload, build a client base, and advance your sales skills in the long run. 

3. Failure will come

Many insurance agents will fail; more than 50% of agents will quit on their first year in the job. The job isn’t an easy task and not for the faint-hearted. So many agents fail due to reasons that include: wrong expectations, inadequate training, poor work ethic, and bad marketing. As a new agent, you should consider all these factors and research how to beat these. You can always start by investing in yourself and receiving excellent training, working hard enough, and starting with a marketing program that works. 

Sometimes, it is challenging to avoid failure but be rest assured that you need to dust your feet and keep moving forward when you face loss. That is the secret to success. 

4. Beware of multi-level marketers

You see them in many businesses, the flashy motivational speakers that are so superficial you’ll wonder if they didn’t choose the wrong profession. So many huge companies hide under the umbrella of multi-level marketing to advertise sales positions to naive agents. This might not necessarily be a scam, but their primary goal is to recruit as many agents who will, in turn, recruit their friends and family- all they care for is the numbers.

The problem with these businesses is that they don’t teach you sales and marketing and what you need to survive in the insurance business. Their quality of training is so poor that you might not need it at all. These pyramid schemes focus solely on recruiting and enriching whoever is at the top of the food chain. Always do your research and find a company that focuses on your work quality before the quantity. Training is essential, and it is the grease to your lamp.

5. Responsibility 

The sound of this might make you yawn- tiring, I guess? But it would help if you were responsible. When you start selling insurance, your success or failure will depend solely on you. You’ll have no corporation to blame for it. Responsibility can be a good thing when you decide that you have no one else to blame for how things turn out; you choose to put in more effort and work harWould you please not allow low this truth to scare you, instead use it as a yardstick for success. 

In conclusion, before you go into selling insurance, do your research and decide if you still want to put in the required time and work to scale through. Some of the challenges one might face when selling insurance include long work periods, extended workload, the possibility of failure, multi-level marketing schemes, and heavy responsibility. It would help if you decided to stay consistent and persistent then keep doing what you started; success is ahead. Selling insurance might appear, though, but you are more challenging.