How to Get Started as an Insurance Broker/Agent?

Mika

VIP Contributor
Insurance is becoming popular these days and a lot of people are buying various kinds of insurance policies, which has created an opportunity for people to become insurance brokers or insurance agents and make money?

How to become an insurance broker or insurance agent?

Do some research and find a popular insurance company that allows anyone to become a broker/agent.

Join the company as a broker, go through their training programs (if they have any) and get a license (must).

Get the necessary papers (brochures that have information about various products), insurance forms, etc.

Approach the people who you think are likely to buy the product from you. Convince him/her to buy the product.

If you are able to sell the product, depending on the company’s policy, you are entitled up to 25 percent commission on the premium paid by the customer.
 

Good luck

Valued Contributor
I think I would like your opinion or idea on how one can be an insurance broker or agent and one will be able to make some stipend there.Insurance company is widely recognized and a lot of insurance plan is now in vogue even to the extent of having an insurance plan for children less than 18yrs and such will also have entitlement.
 
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sincerem

VIP Contributor
That's fantastic to strive as an I suranxe agent and earn reasonable amount of commission when a customer eventually reach a deal to enroll into insurance through our influence. Since we'll earn 25% of his or her monthly insurance payment, what if the property insured breaks down won't the person sharing 25% commission also face the burden of paying for the loss of the customer's property that is damaged??
 
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Mika

Mika

VIP Contributor
In my home country, a lot of people become insurance brokers and buy an insurance policy for themselves. By buying their own insurance policy these agents are entitled to the agent commission. They also insure their family members and earn money. The commission is recurring, i.e. you receive commission as long as premium is paid
 
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Mandy96

Valued Contributor
So a broker or an agent’s job is just like an affiliate marketer for the insurance company, if I get you right. According to your analysis, I think the work of a broker or an agent is to make sure the clients get the type of insurance a client want and make sure more client buys insurance from the insurance company they work for
 
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Jamoflondon

Verified member
I think the easy one is becoming a broker because you will be working for the insurance company and get paid by them but as an agent, you just have to get good clients and the more clients you get, the more income you make.
Agents don’t get paid by insurance companies
 
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kayode10

VIP Contributor
It will also go to first undergo a professional studies in insurer broker and agents. Whoever does this will be well positioned in the industry and I have enough data to back any claim they make to the clients. This helps to improve perceived value of the insurance agent to the clients.
 
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sincerem

VIP Contributor
In my home country, a lot of people become insurance brokers and buy an insurance policy for themselves. By buying their own insurance policy these agents are entitled to the agent commission. They also insure their family members and earn money. The commission is recurring, i.e. you receive commission as long as premium is paid
Agents have recurring benefits of becoming an insurance agent. Insuring every members of their household under their name is a benefit as well. Cos he or she receives commission per referral from his own household provided the premium is paid or still on progress of payment. And not everyone goes into.agency job, cos the job isn't for everyone but for the smart.
 
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Wisdom01

VIP Contributor
Almost related to affiliate system where you earn some certain commission for bringing new buyers or clients , yeah I think agents gets their benefit when they bring in new people that want to insure against any form of incident , after those people must have purchased premium From the company
 
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btaliat

VIP Contributor
This is a nice information. But I think the processes differ from country to country. For instance, in some countries, the process of becoming a broker is different from the processes of becoming an agent. Most time, the insurance company does employ brokers as part of their workers while agent is like a freelancer.
 
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Alexandoy

VIP Contributor
An insurance broker needs a license to operate. The seminar is imperative and it is graded. That means you have to pass the test before you are issued a license. Our neighbor who has an insurance agency said that they hire agents and they provide the training. The agent does not need the license and can instantly sell insurance.
 
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Jasmine

Valued Contributor
If you are a good salesman, this is the job for you. If you are good in convincing people, you can easily sell any kind products. However, you need need to come in contact with a lot of people to sell insurance products. You also need to represent reputed company to earn money as an insurance broker.
 
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Chibson

VIP Contributor
Becoming an insurance agent is actually one of the most interesting works anyone can do provided that he or she has the proper knowledge and understanding of how it works. It is important you locate the right company if you really want to become a successful insurance agent. It is also important for you to interact with people very well seeking to enroll for insurance schemes.
 
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