If you’re a licensed agent selling Medicare or ACA Health plans, you are also eligible to sell Life Insurance. So how do you get started?
Types of Life Insurance
There are two main types of Life Insurance: Permanent and Term.
- Term Life insurance protects you for a limited number of years.
- Permanent Life insurance provides lifelong protection when you keep up with your premium payments. It has several subcategories including traditional whole life, universal life, variable life, and variable universal life.
Term life is more affordable than Permanent life. Both are payable upon death, but with Term, there is no guaranteed cash value.
Why It’s never been easier to sell life insurance
Gone are the days of selling life insurance in person with a 30-page application and a Paramed exam. Today you can sell Life Insurance online with an accelerated underwriting Drop Ticket (provided by The Brokerage at no cost).
Here’s how it works:
- An agent puts in the basic information. It will walk you through the process and won’t let you advance without all of the accurate information.
- Once you submit it, it goes directly to the insurance carrier. They start the process within 24 hours.
- The carrier will go through the questions with the client.
- Clients will get an email to sign the policy.
- In some cases, the carrier could order a doctor’s visit or records.
- Once approved, the carrier will e-deliver the policy.
It’s that simple.
3 Takeaways from Today’s Episode:
- Everyone is going to die – enough said.
- Whether you’re selling Medicare, Health Insurance, or another insurance product, life insurance can make a great cross-sell. One of the best ways to look for opportunities is to pay attention to your client’s life events – such as having a baby, retiring, etc.
- With all of the resources available through The Brokerage, agents can take advantage of a true one-stop-shop – selling life insurance to clients online, over the phone, in-person, or a mix of everything.
And remember we have a complete library of podcasts to help you grow your business. You can listen to all of our Broker Link episodes in our Podcast library here!