Preparing For A Life Insurance Interview: What To Expect

Preparing for a life insurance interview can be challenging. Here are some tips to help you get ready:

- Know the industry: Familiarise yourself with the insurance industry, including current trends and competitors.

- Prepare a self-pitch: Highlight your strengths and create a concise pitch to sell yourself to the interviewer.

- Discuss sales prowess: Be ready to talk about how you'll excel at reaching sales goals and selling insurance.

- Understand the role: Research the job duties and expectations. Will you be meeting clients, working late, or primarily filling out paperwork?

- Prepare questions: Come with your own questions to demonstrate interest and determine if the job is a good fit.

- Avoid discussing salary: It's best not to talk about salary expectations until you receive an initial offer.

- Know the company: Learn about the company's insurance offerings, competitors, values, and market position.

- Be confident: Insurance agents need to be confident and well-spoken. Show confidence through your body language, eye contact, and clear speech.

- Set goals: Share your career goals and how they align with the company's objectives.

- Show maturity: Demonstrate professionalism and courtesy during the interview. Use appropriate language and give the interviewer a chance to speak.

- Follow up: Ask questions at the end of the interview to show your engagement and interest.

- Send a thank-you note: Sending a thank-you note after the interview is a courteous gesture that can leave a positive impression.

Have your identification and financial information ready

Preparing for a life insurance interview can be a challenging task. It is important to have all the necessary information ready and easily accessible during the interview. Here are some detailed instructions on how to "Have your identification and financial information ready":

Identification Documents:

• Driver's License: Ensure that you have your driver's license with you during the interview. The license number will be required for identification purposes and to verify your identity.
• Social Security Number: Have your Social Security number memorized or written down. This is another crucial piece of information for identification and verification.
• Citizenship or Immigration Status Documentation: If you are not a citizen of the country where you are applying for life insurance, make sure to bring your immigration status documentation. This could include a passport, visa, or other relevant documents.

Financial Information:

• Income Information: Be prepared to provide detailed information about your income. This includes your annual salary, bonuses, commissions, and any other sources of income. You may also need to disclose any expected changes to your income, such as a raise or a new job offer.
• Net Worth Estimate: The insurance company will want to know your overall financial situation, so be ready to provide a rough estimate of your net worth. This includes your assets (such as property, investments, and savings) and your liabilities (such as debts, loans, and mortgages).
• Existing Life Insurance Policies: If you already have life insurance policies, gather the policy numbers and face values. This information will help the interviewer understand your current coverage and make appropriate recommendations.

It is important to have all of the above information readily available during the life insurance interview. The interviewer will use this information to assess your eligibility for life insurance and determine the appropriate coverage for your needs. It is also advisable to have a list of questions prepared for the interviewer, as this demonstrates your interest and engagement in the process. Remember to stay calm and provide honest and accurate information throughout the interview.

Prepare your health history and medical information

Preparing your health history and medical information is a crucial aspect of getting ready for a life insurance interview. Here are some detailed steps to help you with this process:

• Gather your medical records: Collect all your medical records, including any diagnoses, treatments, procedures, and prescriptions from the past decade. This information will give the insurer a comprehensive view of your health history.
• Know your current health status: Be aware of your current health status, including your weight and any significant weight fluctuations in the past year. Additionally, have a list of your current medications, including their names and dosages.
• Provide doctor and specialist information: Prepare a list of your current doctors and specialists, including their names, addresses, and phone numbers. This allows the insurer to contact them if needed.
• Understand your family's health history: Familiarize yourself with any significant health issues in your family, such as major diagnoses or causes of death. This information is important for assessing potential hereditary risks.
• Be honest and accurate: When providing your health history and medical information, it is crucial to be honest and accurate. Do not withhold or distort any information. This will help ensure that you get the most suitable insurance plan for your needs.

By following these steps and being well-prepared, you can confidently provide the insurer with the necessary details about your health and medical background, enabling them to make informed decisions regarding your life insurance application.

Know your habits and hobbies

When applying for life insurance, you will be asked about your habits and hobbies during the phone interview. This is because these details will determine how risky you are to insure. Here are some of the things you should be prepared to discuss:

Extreme Sports and Activities

If you participate in extreme sports or activities, such as hang gliding, scuba diving, skydiving, racing, or mountain climbing, be sure to disclose this to the interviewer. These activities are considered high-risk and can affect your insurance rates.

Smoking Habits

It is important to be honest about your smoking habits, including marijuana use. If you have recently quit using nicotine products, make sure you know the date you stopped. Smoking increases your risk of various health issues, which can impact your insurance rates.

International Travel

Insurers will also want to know about any recent or upcoming international travel plans. This is because travelling to certain regions may increase your risk of contracting certain diseases or being involved in accidents.

Alcohol Consumption

Your alcohol consumption may also be a topic of discussion. Excessive alcohol intake can increase your risk of health issues and accidents, so be prepared to discuss your drinking habits.

Other Recreational Drug Use

In addition to smoking, the interviewer may ask about your use of other recreational drugs. Be honest about any drug use, as this can impact your insurance rates and coverage.

Remember that the more information you can provide during the interview, the better your insurance options will be. Being honest about your habits and hobbies will help the insurer assess your risk accurately and provide you with the most suitable coverage for your needs.

Have your beneficiaries chosen

Choosing your beneficiaries is an important part of the process of getting life insurance. It is a decision that should be considered carefully, as it cannot be changed or corrected after your death.

A beneficiary is the person or entity that you legally designate to receive the benefits from your financial products. For life insurance coverage, this is the death benefit your policy will pay if you die. You can choose to have one or multiple beneficiaries, and they can be family members, charitable organisations, or legal entities—it's entirely your decision.

When choosing your beneficiaries, it's important to consider those who will suffer financially from your loss. Typically, this will be your spouse, children, or other family members. You can also set up a trust and name the trust as the beneficiary if you want the payout to be used for the benefit of your minor children while they are still young.

If no one is financially dependent on you, you might consider naming a favourite charity as the beneficiary of your death benefit. By designating an organisation as your primary life insurance beneficiary, you ensure the payout will be donated to them upon your death.

It's also important to keep your beneficiary designations up to date as your life changes (marriage, children, divorce, etc.). You should also be as specific as possible when naming your beneficiaries, providing their full legal name, mailing address, email, phone number, date of birth, and Social Security number (if applicable).

Be ready to answer questions about your lifestyle factors

When applying for life insurance, you will be asked about your lifestyle factors. This includes your hobbies, sports you play, and smoking habits. For example, scuba diving and racing are considered dangerous hobbies, and smoking, including marijuana, will increase your premium. Be sure to know the date you quit using nicotine products if you are a former smoker. You will also be asked about any upcoming international travel.

Frequently asked questions