Booking Life Insurance Appointments: A Simple Guide

Booking appointments for life insurance is a crucial step in the insurance sales process. To book appointments effectively, insurance agents need to master the art of communication and relationship-building. This involves stimulating the client's mind with fresh ideas and concepts, making them want to hear more about the insurance products on offer. Additionally, agents must be mindful of the regulatory landscape, as appointment requirements vary by state, with some states requiring annual appointment renewals and others mandating at least one carrier appointment to maintain an active insurance license.

How to get appointed with a life insurance company

To get appointed with a life insurance company, there are several steps you need to take to increase your chances of success. Here is a guide on how to get appointed with a life insurance company:

Education and Licensing

First, you need to ensure you have the necessary education and licensing to sell life insurance in your state. Different states have different requirements, so it is important to review the specific requirements in your area. Some states may require you to have a Property and Casualty (PC) license, while others may only need a limited lines license. Make sure to complete any necessary pre-licensing courses and pass the required exams. Don't forget to consider ongoing education requirements for certain licenses.

Prepare Your Documents

When applying for appointments with life insurance companies, it is essential to have your insurance license paperwork ready. Polishing your resume and, if needed, a cover letter is crucial. Highlight any sales skills, business initiatives, remote work experience, and self-driven projects. If you have a book of business, make sure to include it, as some companies may require this.

Research and Apply

Research different insurance companies and decide on the type of insurance agent you want to be (broker, independent, or captive agent) and the type of life insurance you want to sell (term, whole, or universal). Compare companies by checking employee reviews, customer reviews, and financial ratings. Once you have identified your preferred companies, complete multiple applications for them, either through their websites or job-hunting sites. Some companies may also accept resumes dropped off in person if they have an onsite location.

Interview Process

After submitting your applications, be prepared for a potential phone interview, followed by an onsite interview if the company is interested in your profile. During the interview process, the company will assess your suitability and fit for the role.

Sign the Contract

If you successfully pass the interviews and are offered an appointment, the final step is to sign a contract with the life insurance company. Make sure to review the contract thoroughly before signing.

How to set up appointments as a new agent

Setting up appointments as a new life insurance agent can be challenging due to the lack of a robust producer network and small size of your agency. Here are some tips to help you get started:

Understand the Challenges

New agencies often struggle to secure carrier appointments because carriers prefer working with larger agencies that have greater market share and distribution capabilities. Carriers are reluctant to negotiate contracts with smaller agencies, as they seek faster routes to market share by partnering with bigger agencies with larger producer forces.

Work with Upstream Agencies

To overcome this challenge, consider working with upstream agencies like FMOs (Field Marketing Organizations), aggregators, or MGAs/MGUs (Managing General Agents/Managing General Underwriters). These entities can help you secure carrier appointments indirectly, even if you don't have a robust producer network yet.

Establish Relationships with Carriers

If you prefer to work directly with carriers, focus on building relationships with potential partners. Research different carriers and understand their contract terms. When approaching them, be prepared to showcase your agency's strengths, capabilities, and unique value proposition. Emphasize your distribution strategy and any processes or technology you have in place to ensure compliance.

Know the Appointment Requirements

Familiarize yourself with the appointment requirements of different states to ensure compliance and build strong relationships with carriers. Each state has its own regulations regarding producer appointments, so understanding these nuances will make you a more attractive and informed partner.

Focus on Your Pitch

When approaching carriers, consider the following:

• Seek out smaller carriers that have a history of working with new agencies.
• Understand that your contract may be generic, and you may not have much negotiating power.
• Be ready to present your business strategy and emphasize what sets your agency apart.
• Highlight any processes and technology you have in place to ensure producer compliance and mitigate risks for the carrier.
• Carriers that use Just-In-Time appointments may be more inclined to give you a chance, as they can delay state appointment fees.

Join an Independent Marketing Organization

If you're an independent agent, consider joining a brokerage firm. They can provide support and help you set up appointments. While you will have to share commissions, they can offer higher overall commissions due to their volume and preferred status with insurers.

Remember, persistence is key. By following these steps and continuously refining your approach, you'll be well on your way to setting up successful appointments as a new life insurance agent.

What to say when calling to book an appointment

When calling to book an appointment, it is important to have a clear and concise message. Here is a suggested script:

"Hello, my name is [your name], and I am calling from [your company name]. I am interested in booking an appointment to discuss life insurance options with one of your agents. I have done some research and understand that life insurance is a sensitive topic, but I believe it is important to be prepared and have the necessary coverage in place. Can you please guide me through the process of booking an appointment, and what information or documents I may need to provide?"

This script introduces yourself and your reason for calling. It also demonstrates your knowledge and proactive attitude towards securing life insurance. Here are some additional points to consider when calling to book an appointment:

• Be mindful of the time: When calling, be mindful of the time and keep your message brief and respectful of the recipient's time.
• Ask open-ended questions: Instead of asking "yes" or "no" questions, opt for open-ended questions that encourage a conversation. For example, "What is the process of booking an appointment?" or "Can you guide me through the information I need to provide?"
• Emphasize your interest: Express your genuine interest in their services and highlight why you believe life insurance is important to you. For example, "I am interested in exploring life insurance options to ensure my family's future financial security."
• Provide flexibility: If possible, offer flexibility with dates and times for the appointment. This demonstrates your willingness to accommodate their schedule.
• Take notes: During the call, take notes on any important information, such as the date, time, location, and any documents or information you need to bring to the appointment.

Remember to adapt the script to your personal situation and the specific life insurance company you are calling. Each company may have unique processes and requirements, so it is always a good idea to be prepared and informed about their services.

How to get appointed to sell life insurance products

To sell life insurance products, you must first be appointed by the insurance carrier. This process involves signing an official document agreeing to the carrier's terms and conditions and meeting other requirements. Here is a step-by-step guide on how to get appointed to sell life insurance products:

Step 1: Understand the Requirements

Before starting the appointment process, ensure you meet the basic requirements to sell life insurance. This typically includes passing a licensing test and partnering with insurance carriers. You must also have a successful track record and a good geographical location.

Step 2: Select Your Carriers and Products

Choose the insurance carriers you want to represent and the specific life insurance products you wish to sell. Consider your clients' needs and select carriers and products that align with their diverse needs. Research popular carriers and products in your area to make an informed decision.

Step 3: Complete the Necessary Forms

Fill out the required forms and applications for each carrier. This typically includes submitting an appointment data sheet, providing your state insurance license(s) for each state you will do business in, and sharing your FINRA Central Registrations Depository (CRD) Status Report. Some carriers may also require additional documentation, such as proof of Errors and Omissions insurance, your banking information, credit history, and criminal record.

Step 4: Submit Your Paperwork

Submit your completed paperwork to the insurance carrier or their Field Marketing Organization (FMO). Some carriers may allow digital contracting, while others may require paper forms to be mailed or faxed. Ensure you follow the carrier's specific instructions for submitting your appointment paperwork.

Step 5: Wait for Approval

After submitting your paperwork, the carrier will review your application. They may perform a background check and assess your client portfolio and track record. If approved, the carrier will finalize your contracting paperwork and issue you a writing number, indicating that you are now appointed to sell their life insurance products.

Step 6: Understand Your Responsibilities and Commissions

Once appointed, carefully review your contract to understand your legal responsibilities as an insurance agent. The contract will outline the commissions you can expect to earn for selling the carrier's products. Remember that you are representing the carrier's brand, and it is essential to conduct due diligence on behalf of your clients.

By following these steps, you can get appointed to sell life insurance products. Each carrier may have specific requirements and processes, so be sure to review their guidelines carefully. With the right appointments, you can build a strong portfolio of life insurance products to offer to your clients.

What to do if you're an independent agent

If you're an independent life insurance agent, there are a few things you can do to book more appointments and build a successful business. Here are some instructive tips:

Get Licensed

Firstly, ensure that you have the necessary licenses to sell life insurance in your state. Different states have different requirements, so it's important to research and fulfil the specific criteria, which may include passing exams and completing pre-licensing education courses.

Build Experience

Experience is highly valued in the insurance industry, and it can be challenging for new agents to get appointed without prior experience. Consider working under a single insurer or a captive agent to gain the necessary skills and build relationships. This experience will make you a more appealing candidate for appointments with insurance companies.

Prepare Your Documents

Polish your resume by highlighting any sales skills, business initiatives, remote work experience, and self-driven projects. These skills are highly valued in the insurance industry, as agents mostly work independently. Have your insurance license paperwork ready, as this will be required during the application process.

Research and Apply

Research various insurance companies and decide on the type of insurance agent you want to be (broker, independent, or captive agent) and the type of life insurance you want to sell (term, whole, or universal). Once you've determined your niche, complete multiple applications for different insurance companies. Most companies will have application processes on their websites.

Interview Process

After submitting your applications, be prepared for a phone interview, followed by an onsite interview if the company is interested in your profile. This is your opportunity to showcase your skills and experience, so be sure to highlight your strengths and how you can benefit the company.

Build a Client Base

Building a solid client base is essential for a successful career as an independent life insurance agent. Focus on developing strong relationships with your clients, staying knowledgeable about the products you're selling, and continuously improving your sales skills.

Seek Support

Consider joining a brokerage firm, which can provide support and help you get appointments set up. Alternatively, explore options like Managing General Agencies (MGAs), aggregators, or clusters, which can offer access to multiple insurers and provide resources and networking opportunities.

Frequently asked questions