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o earn trust from clients, agents need to listen carefully to what they need. An agent who is only out to earn a commission is not likely to last long in the business.

Many believe that life insurance can be a hard sell because most people are reluctant to think about their own death or illness. However, it is also known among financial practitioners that life insurance has one of the top product commissions in the entire industry due to its level of adversity.

It is widely known that within the financial services industry itself, few professions match the opportunity for as swift and large monthly income as does being a life insurance agent. In fact, a hard-working insurance agent can easily earn more than Rp 100,000,000 million in his or her first few years of sales.

Regulation stipulates that becoming a life insurance agent only requires a license, which can be obtained by attending training and passing the exam. However, experts say that being successful life insurance agents requires much more.

'€œIf you have ever contemplated becoming an insurance agent or wondered whether this career path could be right for you, then there are several qualities that you will need to possess, at least to some degree,'€ said senior agency manager Bogy Suyatno.

Trusted advisor

Experts suggest that in order to be a successful insurance agent over the long haul, the person needs to accept his role as a '€œsales person'€ and he/she needs to be good at selling ideas.

'€œBeing good at selling ideas does not mean selling someone something they do not need, or otherwise manipulating or taking advantage of someone,'€ Bogy remarked.

'€œA good agent needs to be aware that when he/she sells, the goals are to help people, to be a trusted advisor and to educate, further leading people down the path they need to take for the achievement of their financial goals,'€ he explained.

Bogy'€™s wife, Iswiarti who is also an award-winning life insurance agent put this into a practical example. '€œIf you are an agent talking to a qualified prospect with a young family and you are unable to convince that person to protect the family with life insurance and then something bad happens, you can say it'€™s your fault that person'€™s family is not protected,'€ Iswiarti said.

Agent-preneurship

Success in any venture begins with the proper mindset. Many senior life insurance agents advised that to be successful, the agents need to have the mind-set that they are business owners.

According to an accomplished agency manager who prefers to remain anonymous, agents need to have the mindset that they are self-employed in their own individual small business.

'€œThey need to be aware that if they do their job well and generate sales and profit, they will have a job and a business. If you don'€™t generate enough sales and profit, you will be out of business looking for another job'€ he said.

'€œThe right mindset is to run this as a business.'€

His wife, who is also a top producer, said, '€œAgents need to manage their time wisely. There are only three activities that will ultimately make them money: prospecting, closing and servicing accounts.

'€œThose three activities are where most of, if not all of, agent'€™s prime selling time should be spent, with or without supervision of the managers.'€

Gather more sell more

Several practitioners are of the view that agents who listen carefully to what their clients and prospects say will be able to earn their trust, which is the hardest part of their job.

 '€œAgents need to put the needs of the customer first, an agent who is only out to earn a commission, regardless of the needs of the client, is not likely to last long in the business,'€ said Martini Sangadji, an award-winning producer.

'€œTrusted agents need to be willing to put their clients into a product that might be paying a lower commission because it better fits their needs and is much more likely to be successful.'€

Best practice advisory life insurance sales process suggest that the fact finding process is one of the most critical and fundamental steps.

Certified financial planner Erisman Syarifoeddin has highlighted that the purpose of fact-finding is to obtain the essential facts and circumstances about a client, his/her family and their objectives in an organized manner.

'€œThe data gathered from fact finding can be interpreted, analyzed and put into a proposal that defines the problems and suggests an array of products that potentially addresses them,'€ Erisman said.

Many insurer training and enablement programs now include a special skill in order for agents to be more successful: listening skills. Insurers agree that more than just a slogan, the ability of the agent in listening '€“ really hearing the client '€“ is vital for all financial advisors.

Another life insurance client, Dwiyana, said he would like his need to be understood and therefore, '€œagents'€™ ability to listen and really hear the client is important to me'€.

'€œIn the past, agents often misinterpret or incorrectly record information, or bring back incomplete, or tainted, data, as, consciously or subconsciously, they are too occupied trying to complete their own agenda, rather than accurately gathering facts and feelings,'€ Dwiyana said.

Customer'€™s perspective

Surveys reported that customers prefer to work with a '€œtrusted agent'€ that should be able to present them with a number of insurance options that meet their criteria, and should be able to clearly and simply explain the details, advantages and drawbacks of each option.

Andeka Putra, a life insurance customer who owns three life insurance policies with considerably large premiums, pointed out, '€œAs a customer, at no point should I feel pressured into making a purchase; a trusted agent should work with me until I can find an insurance arrangement I am comfortable with.'€

Andeka also said, '€œI do not like hit and run agents. Once I'€™ve purchased a policy, the agent should be available to review the details of the policy, including benefits and coverage, once every year'€.