Life Insurance Agents – The People Behind Life Insurance

The job of an Insurance Agent begins with meeting potential policy buyers to explain details of new financial products and their prices. Often new Insurance Agents are assigned the job of meeting potential buyers for prospective sales while experienced Insurance Agents work on applications. Life Insurance Agents are not only responsible for the sale of insurance policies but also policy holders at the time claims settlement.

An Insurance Agent plays the dual role of providing valuable tips to policy buyers in accordance to their individual financial needs and also acts as a personal finance adviser.

For those individuals who may wonder as to the exact portfolio of an Insurance Broker or Agent, it would suffice to say that they are people who link insurance companies and prospective policy buyers. Using their knowledge and expertise in the field of insurance, Insurance Agents are able to provide valuable guidance to policy buyers in finding the most suitable insurance cover.

An Insurance Agent gathers information from individual clients or business clients to assess their insurance needs, evaluates various policy plans and arranges for the right amount of insurance cover. Negotiating with insurance providers to procure the best possible terms, renewing or changing existing policies, collecting insurance premiums and processing accounts are also important tasks carried out by Insurance Agents.

Providing policy buyers with valuable advice at the time of a settlement claim, data processing, correspondence, maintaining detailed records and preparing reports for insurance underwriters and surveyors are other responsibilities of the Insurance Agents.

Some companies offer discounts on policies or tie-up plans with a view to attract a large customer base. For example, Motor insurance may be combined with Life Insurance at a low cost. It is possible that Life Insurance agents associated with such companies may be required to advice clients on policies other than their area of specialization. However, Insurance Agents who prefer to work independently should be unprejudiced when advising customers about various policy plans.

The entry level jobs in the insurance industry usually begin as insurance technician, junior accountant or a trainee broker. Thereafter, individuals are required to gain experience and necessary qualifications to move up to the position of an Insurance Agent.

The qualifications desired in an Insurance Agent may vary for each company. However, individuals may gain entry into the insurance industry by applying for the apprenticeship program and benefit from the management training schemes provided by certain companies. Individuals with an educational background in maths or business are recommended to join a large insurance provider. Experience in office work, sales or financial customer service is definitely a value addition for individuals seeking jobs in the insurance sector.