Let’s Get Real: The Truth About Becoming an Insurance Agent
January 25, 2023
Insurance is too complex. I’m not qualified. Starting a new business requires a huge financial commitment. If you’ve ever considered working in the insurance industry, you’ve likely encountered these common misconceptions about life as an insurance agent. To set the record straight, Farm Bureau Financial Services (FBFS) shares its decades of experience to ensure nothing stands between you and this exciting opportunity.
Misconception #1: You Need an Insurance Background
The truth is, most of our agents don’t have a background in insurance sales. They possess other qualities that make them quick learners and successful leaders. Certain personality traits such as having an entrepreneurial spirit, self-motivation and the ability to communicate effectively can lay the foundation for success in becoming an insurance agent. From there, FBFS equips agents with focused training, continuing education opportunities and one-on-one mentorship programs designed to help them learn the ins and outs of working as an insurance agent.
Misconception #2: Insurance is All About Sales
Becoming an insurance agent is not just another sales job. In reality, it’s an opportunity designed to help people protect who and what matters most. Farm Bureau Financial Services’ agents understand that their business is not just about insurance products — it’s about people, relationships and impacting entire communities. The FBFS process begins with identifying a prospect, whether you’re selling a personal policy or a commercial policy. From there, you get to know the potential client/member, discover their needs and determine their long-term goals. This will help you develop a policy recommendation that makes the most sense for them.
Misconception #3: It’s a Desk Job
Life as an insurance agent is an appealing opportunity for those who prefer to be hands-on and forward-facing and those who strive to build relationships and make a difference. Our agents spend as much time in the community as they do in the office, working one-on-one with client/members, volunteering within their communities, participating in grassroots networking and arriving at the scene when they're needed most.
Misconception #4: People Only Want to Buy Insurance Online
Some people may believe it’s easier to buy insurance and compare quotes online, but not everyone. The reason so many client/members prefer to work with local insurance agents over insurance websites is because our agents can customize insurance packages and offer a level of service that simply isn’t possible online. Of course, our insurance agents actively network on social media and have their own personal agent websites to serve as an introduction to the insurance opportunities they offer, but meeting in person remains the preferred way to establish the client-agent relationship.
Misconception #5: It’s Too Much of a Financial Commitment
Becoming an insurance agent for FBFS takes financial commitment, hard work, time and effort to be successful. But, unlike many other small business opportunities, there are no franchise fees or long-term financial commitments. In fact, FBFS agents have additional compensation support as they start their business and have opportunities to earn bonuses in the first year when they meet specific sales goals.
Misconception #6: You’ll Have to Quit Your Day Job
Farm Bureau Financial Services' Developing Agent Program lets potential agents begin building an insurance business without leaving their current job or sacrificing savings to get started. It’s a developmental period intended to give candidates the tools needed to become an insurance agent and ease the transition into becoming a full-time contracted FBFS agent. The try-it-on-for-size approach gives our agents honest insight into the expectations and commitment necessary for success as an agent, so together we can decide if it’s a good fit.
Misconception #7: You’ll Be on Your Own
While it’s true that our agents are responsible for growing their network, FBFS provides each agent with the tools, support and training to maximize success. Training and support start from day one and continue throughout an agent’s tenure. As an FBFS insurance agent, you have an entire team by your side to aid you in continuing your success. Our mentoring program offers one-on-one coaching for agents at each of their initial client appointments to help agents gain the practical experience necessary to fine-tune skills and tackle obstacles. Each agent is assigned a district manager who will offer encouragement, tips and advice to help them maximize their efforts.
Keep It Real
Don’t let these misconceptions about becoming an insurance agent keep you from exploring an exciting profession with Farm Bureau Financial Services. Contact us to discover the truth about being an insurance agent.