FAQ: Top Questions About Being a Farm Bureau Insurance Agent
August 16, 2017
If you’re reading this article, it’s likely you’ve been considering making a career move, but have some questions that you need to be answered.
At Farm Bureau, we get many questions from people wondering what it’s like to be an insurance agent and specifically, what it’s like to be an insurance agent at Farm Bureau. We’ve compiled a list of our most frequently asked questions to help you as you decide to embark on a new career path.
Frequently Asked Questions About Being a Farm Bureau Insurance Agent
1. Does Farm Bureau provide training for new agents?
Absolutely. We understand that jumping into a new career can be daunting, which is why all new agents go through our Reserve Agent Program. With this program, a person considering an insurance career can begin gaining the skills they need to build an insurance business without leaving their current job.
In this four-month period, you will begin building relationships with potential client/members and selling auto, home and life insurance by arranging sales appointments around your current schedule. This helps you understand what it takes to be a Farm Bureau agent first-hand. Once you graduate from the Reserve Agent Program, you are ready to become a contracted insurance agent.
The Reserve Agent program has no cost. The only cost you may incur is paying for your state licensing fees once you’ve completed the program.
2. Do I need to have insurance licenses to join Farm Bureau? Does Farm Bureau provide insurance licenses?
Yes. In order to sell insurance for Farm Bureau Financial Services, a person must be licensed. The individual will be responsible for covering the costs of their state licensing upon completion of the Reserve Agent Program.
3. Will I be on my own as a Farm Bureau insurance agent? Who else will I be working with?
At Farm Bureau, you’re never alone. We offer a support team of agency managers, marketing underwriters, sales associates, sales coaches and more to ensure that your business is succeeding and your client/members are protected.
4. What kind of ongoing training and support does Farm Bureau offer?
To stay on top of industry trends, changing technology and remain competitive, we offer continued training and education to our insurance agents. This can include:
- Online learning
- Classroom training
5. Will I have a mentor or manager?
Yes. When you begin a career with Farm Bureau Financial Services, an agency manager will be right by your side. Your agency manager is your “go-to” person if you have questions, concerns or need guidance. He or she will provide you with the best tips they have for running your insurance business.
6. Will I have a set salary? Do Farm Bureau agents make commission?
A Farm Bureau agent’s earning potential is unlimited. Agents earn a residual income as well as commission from sales of different products, such as life insurance, annuities and other Farm Bureau products.
Currently, we are offering a $5,000 sign-on bonus for new agents joining our team. This bonus can be used for whatever a person may like. Maybe it’s for a trip, to put in savings or simply a nice gift for yourself; it’s up to you!
7. What types of products do Farm Bureau agents sell?
Farm Bureau offers a wide variety of products to our clients/members. Insurance products include:
We also offer different investment products to our clients/members:
- Mutual funds
- College funding
- Retirement funding
- Estate strategies
With so many products to offer clients, there are many benefits to agents. Not only are you able to offer your clients/members the comfort of knowing they are protected in a variety of ways, but you’re also able to increase your earning potential.
8. Are there additional incentives besides commission for sales?
Each year, we offer agents multiple opportunities to qualify for monetary bonuses and incentive travel as a way to thank you for your hard work. Agents who have earned the travel incentive can journey to beautiful destinations like Spain, Italy, Europe, Australia, Mexico and more.
For example, in 2018, agents who have earned Super All American and All American status will have the opportunity to travel to London to spend several days exploring the city and some of its most historic sites.
9. What types of positions are available at Farm Bureau?
From agents to agency managers, there are a variety of roles available Farm Bureau.
For those who do not want to manage a business but still work in sales, the Sales Associate role may be a fit for you. This person works alongside agents writing business, scheduling reviews and ensuring that clients/members are well-cared for. A Sales Associate may have a focus in a particular line of business such as auto, home, life or health insurance. Depending on the hiring agent, income and work hours may vary.
10. What kind of financing is offered to new agents?
It’s not easy beginning a new career, and we want our agents to succeed. Because of this, we offer additional compensation during an agent’s early years with Farm Bureau. We offer support with the Developmental Supplement Program, which compensates agents no matter if they’re in a rural or urban area for the first six months of their career.
11. Where are Farm Bureau agents located?
Farm Bureau agents are located throughout the country. Specifically, agents can be found in:
- North Dakota
- New Mexico
- South Dakota
12. How does being a Farm Bureau agent compare to other insurance companies?
Farm Bureau was founded over 75 years ago to serve the needs of farmers and Farm Bureau members. As times have changed, we’ve expanded our coverage to protect people from all walks of life. Furthermore, our agents are actively involved in their communities. Because of this, they understand that their clients/members are more than just policies. They’re friends and neighbors with families who need protection, and that’s what drives us.
Join the Farm Bureau Team Today
Don’t be afraid to take the leap towards a new and exciting career with unlimited potential. Find your new opportunity with Farm Bureau Financial Services today.