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How to Become a Millionaire Selling Life Insurance

Life insurance sales is not for the fainthearted. Prospecting, appointments, closing, paperwork, cancellations ... it's all in a day's work for these professionals. But only a handful of them become millionaires doing this job. There are a few factors that separate them from the rest of the pack.

Take a life insurance test course and then schedule an exam at a proctor testing site. Your course provider will give you the details about how to do this. Then get appointed with either several companies if you are a broker or the single company for whom you will be a captive agent.

Begin a massive prospecting effort by meeting with family, friends, associates and acquaintances. Cold calling, direct mail and Internet advertising are all methods to employ. It is a good idea to have some clients lined up before you start.

Try to close the prospect in the first meeting. Statistics show that the best salespeople can close a sale on the first visit. You will have a much greater chance of closing the sale in the first visit than in a subsequent one.

Try to get some corporate business. Retirement plans and nonqualified plans can pay huge streams of incomes to agents and brokers who are astute enough to land them. Executive bonuses, deferred compensation plans, 401(k) plans and other similar sales can sometimes pay hundreds of thousands of dollars of gross commission.

Service your clients well once you get them. It's infinitely easier to keep a client and get new business from him, her or them than it is to find a new client. If you keep your current clientele satisfied, then they will recommend you to other people--the most effective type of advertising there is.

Prepare yourself to work long hours for a long time. Continue to learn about the business. Earn a credential, such as the certified financial planner or chartered life underwriter to improve your credibility.


Mark Cussen has more than 17 years of experience in the financial industry. He received his B.S. in English from the University of Kansas and became a Certified Financial Planner in 2001. He has published financial educational articles on such websites as Investopedia and Money Crashers. He also provides financial education and counseling for members of the U.S. military and their families.