Insurance Agent

Generally, the benefits on the life insurance policy are tax free and the beneficiary is not liable to pay any tax after the death of the policy holder. But if you are changing your beneficiary for monetary gain or other purposes then the beneficiary has to pay tax on it.

In some situations, hungry agents will work to get that initial sale as quickly as possible. After doing that, they hand the servicing of the account to other people and never look at it again. While I understand the importance of delegating work, I also believe that an agent should try to play an active role throughout the life of an account. Small and large clients receive my attention before and after a sale. It strengthens the relationships, and I am the one that comes to mind when my customers have insurance needs.

General Insurance is basically an insurance policy that protects you from losses and damages other than covered by life insurance. For example it covers

a) Personal property such as car or house

b) Accident and health Insurance

c) Liability Insurance – legal Liabilities

d) Property against natural calamities like flood, fire, earthquake etc.

e) Burglary and theft

f) Coverage on transport vehicles carrying goods like Cargo Ship

g) Coverage against machinery breakdown

h) Travel

I think the biggest misconception that people have is that some of the products I sell are rip-offs because of what they heard on the radio or from some other media outlet. Not only are they dead wrong, it hurts my feelings for someone to call me a crook.

My interview was more or less on the floor, I guess. They asked me to make a phone call and to see if I could sell. I did, I ended up calling a business. I ended up talking to the business owner. I ended up getting a quote for him. Through that my boss was like, “Okay we understand that you can do that. Try doing a residential.” I got a quote through them and therefore I did my job in front of them. I showed them that I was capable of doing it.

Once the policy is sold, it is my responsibility to make sure that the premium is paid on time. I also have to handle the paperwork included with each policy and educate clients on how the whole thing works. Following up with clients and providing them with answers to their questions regarding policy maturation, and added benefits and riders is also my duty.

If it is not a long duration that you have bought the policy, then you can replace the policy. But in other case it is not advisable as you will lose all the benefits of the previous policy also the premium will go high as you go older. Also, the two-year period of contestability will also begin again.

The term ‘insurance coverage’ means, when an individual takes an insurance policy the insured will be covered by insurance company for a specific amount for themselves or the things that he had taken the insurance policy, for which he would be paying premiums to the insurance company. The insurance company will pay the insured in case of damage or claims made by the insured according to their ‘insurance coverage’.

I would say it’s my exceptional interpersonal and analytical skills. Being a liaison between clients and insurance carriers has given me the ability to effectively communicate with insurance novices and professionals alike. I can gain an understanding of a client that allows me to develop an accurate risk profile. From there, I use my knowledge of insurance providers’ risk appetites to negotiate a customized product for the client. I can then decode policy language so that it’s more palatable for someone not familiar with legal terminology. This is how I was able to build a $2 million book of business.

It is safe to pay the premium through your agent as far as you are making the payment through cheques on the name of Insurance Company and receiving all the receipts for the payments.

I take a couple vacations and now that I have a decent base, maybe more time off than I should. It is so flexible. Old guys sometimes take months off at a time and some people can’t afford to take any vacation days. Sorry to not give a straight answer, but it really is up to the person.

Insurance policy is categorised into two

a) General or Non-life Insurance

b) Life Insurance

There are two type of life insurance

a) Term Life Insurance:

Term life Insurance is a type of life Insurance, which provides coverage for fixed rate of premium for a limited period of time. Term Insurance can cover you for the term of one or two years.

b) Permanent Life Insurance:

Permanent Life Insurance coversan individual for the whole life; people take permanent life insurance about 25-30 years normally. The premiums are slightly higher than Term Life Insurance.

‘Declaration page’ in insurance policy, bears all the information of the policy holder like name, address, vehicle information, type of coverage and loss payee information.

You can cover your valuable items like silver or golden ornaments in home insurance, but your premium and policy amount will rise accordingly.

Such insurance company that says,“No physical exam” gives freedom to the policyholder to take policy and exempt the physical test that is mandatory by certain life insurance company. Normally, such insurance company is more expensive and the insured has to pay a higher premium on their policy.

I would help them on their training and sales language, but the biggest advice is to know you are doing good, and when someone rejects you, they are making the mistake, not you.

As an insurance agent, I have been responsible for assessing clients’ individual insurance coverage requirements and providing them with suitable coverage plans. Additionally, my work has involved assisting clients in understanding risks and coverage options, along with providing them with insight into their rights and benefits of each policy.

My interview was more or less on the floor, I guess. They asked me to make a phone call and to see if I could sell. I did, I ended up calling a business. I ended up talking to the business owner. I ended up getting a quote for him. Through that my boss was like, “Okay we understand that you can do that. Try doing a residential.” I got a quote through them and therefore I did my job in front of them. I showed them that I was capable of doing it.

I made almost the exact same starting out as I did in my previous job. I was 24 years old in 2003 and made around 40ish. Again I earned more money than that on a deferred basis, but that is what I took home.