Annuity Insurance Career. What to Know Before You Start
What you need to know to succeed at annuity sales
Annuities is a growing market creating new opportunities for insurance agents, and those looking to get into insurance sales. Here’s what to consider before expanding your business or career into annuity insurance.
What is an annuity?
Before you launch an insurance career in annuities, you must understand what annuities are and how they work. Annuities are considered both insurance and investments because the client invests money while the carrier of the annuity guarantees payment of the annuity. As the client begins to take a payment from the invested funds, the annuity pays them a certain amount of income for the rest of their life.
Consumers are looking for ways to protect themselves from outliving their investments. Annuity insurance offers clients a tax-deferred investment, which many investors find attractive.
Why sell annuity insurance?
Many employers are shifting the responsibility of retirement savings to employees. As a result, more Americans need to invest their money in personal retirement. Many agents find selling annuity insurance rewarding, because they have a job that involves helping clients obtain financial security during retirement.
Selling annuity insurance can also pay well. The average commission for selling annuity insurance is around 7 percent. At that rate, an agent can make $7,000 by selling only one $100,000 annuity. Agents who choose to sell annuities choose to take up-front commissions, but residual commissions is often an option as well.
How to excel at selling annuity insurance?
Selling annuity insurance starts with good quality leads. Prospecting or cold calling leads takes time – time you could spend closing deals. Parasol Leads provides high quality annuity leads that convert at a higher rate that other lead generation companies. That’s because we run organic and paid marketing campaigns that target consumers already searching for annuity insurance.
Parasol Leads customers can purchase shared or exclusive annuity leads at competitive pricing. Quality is of the utmost importance to us, and our customers are our priority. You can learn more by reading Parasol Leads reviews left by our customers.
Exclusive annuity leads are purchased just one time, by you. Shared annuity leads can be bought by multiple buyers, which means you’ll need to compete for the sale, but can buy leads at a cheaper price. This is a good option for agents on a budget or just starting out.
How to get started as an annuity agent?
You’ll need to get an insurance license in order to sell annuities. Next, you’ll need to get contracted. There are two ways to get contracted to sell insurance – become a captive agent or work with a brokerage firm that has multiple carriers they represent. Next, sign up on ParasolLeads.com to start purchasing high quality annuity leads. You buy as many annuity leads as you need to reach your insurance sales goals.
Contact us today to learn more about our annuity leads, and how to become a buyer.