How to Break into the Senior Market for Insurance Sales

 In Insurance

What if you could move into a field that is gaining 10,000 potential new customers each day? Approximately 10,000 seniors age into Medicare each and every day. If you are preparing to graduate in the spring and haven’t decided on a career path, or if you are looking for a career change, the senior market for insurance sales is an ideal market to pursue. With 10,000 new ideal customers entering the market each day, senior insurance isn’t going anywhere any time soon. In a constantly changing job environment that constant influx of new customers can provide some serious job security. If this is the year you are ready to make a change, here is how to break into the senior market for insurance sales.

Learn As You Go

While you do need an education, the senior market for insurance sales does not require a college degree. Instead, you’ll learn as you work. ASPECT Management is fully committed to supporting our agents with all issues, from licensing to commissions. As the senior market specialist, we pride ourselves in our relationships and partnering with agents for the long term. Our sales meetings are packed with product information and training is tailored to the needs of each individual agent.

Insurance sales doesn’t require an office or special equipment. That means to get started there isn’t much overhead, and many agents can work from home the first few years, or even permanently. The main equipment that you will need to get started is a phone, a car, a computer, and an insurance license. And ASPECT Management can even help with the license!

The current average age for all types of insurance agents is around 45 years old. And the average age for senior market agents is currently around 56 years old. That means the industry is top-heavy with older agents. Over the next few years, many of these agents will be retiring, and that leaves an enormous opportunity for younger agents to enter the market, make an impact, and help people. With so many seniors becoming eligible for Medicare each day there is a shortage of senior market agents combined with a growing demand for what they are selling.

Helping People

If you like to solve problems and help people, then senior market insurance sales might be the perfect fit for you. Health insurance is about solving problems. When you sell someone a health insurance policy, you are giving them peace of mind that their medical bills will be covered. When you sell a life insurance policy, you are helping people protect their families when they die by ensuring they have funds to cover expenses and possibly provide an income for their beneficiaries.

Medicare is a confusing topic, and the average prospective customer doesn’t fully understand it. These prospects will be looking to you for honest guidance to help them choose a plan. When you sell senior market health insurance, you have the opportunity to help hundreds, possibly thousands, of people.

Job Benefits

Helping people isn’t the only benefit to selling senior market health insurance. One that appeals to many insurance agents is freedom. Being an agent allows you to set your own hours and spend your time as you see fit. You will have the flexibility to set your goals and then create your own work schedule to meet the goals you set for yourself. Good time management skills are certainly an advantage in this industry.

We couldn’t talk about the benefits of selling senior market health insurance without mentioning money. In fact, while there are many benefits to selling insurance, the one that is usually at the top of the list is money. It is true that you can make a great income selling insurance. The magic word is renewals.

Most new agents don’t make very much during their first year, and they need to be aware of that. But if you move into your second year as an insurance agent, you will begin to reap the benefits of working hard your first year when all of those clients renew their policies. When clients renew you get paid again.

If agents maintain the pace of their first year, many agents will see what amounts to a salary increase of 40 percent, or more in their second year, and it’s all because of renewals. The great thing about insurance sales is the harder you work, the more you make.

Start Your New Career

Are you ready to run your own business? Senior market health insurance is an easy business to understand, but it does take work. If you can manage your time well and prefer to be in charge of your own time, then insurance could be a great career for you.

While you may work for yourself, insurance is a highly social business. You will be talking with people constantly. Senior-age clients greatly prefer talking on the phone to text messages. Between making calls and knocking on doors to meeting with prospective clients, you will spend a majority of your time socializing with other people.

A career in insurance sales does take time and effort to get started. You will need to consistently prospect, make calls, get sales, and follow up. But you also have ASPECT Management in your corner. We support our agents and generate sales leads by marketing through print advertising, the Internet, direct mail, and other channels.

If you think senior market insurance sales sounds like a potential career for you, pick up the phone and call us at 866.736.0130. ASPECT Management’s licensing and support team stand ready to assist you. We not only offer a complete line of senior-related products, but we also give our agents all the resources needed to fully service their clients.

Your success is our mission. Contact ASPECT Management to get started.

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