The entrepreneur’s guide to starting your own business: Insurance sales

Whether you’re protecting your health, life, vehicle, property or possessions, everyone needs insurance in one form or another. Pursuing a career in this opportunity-rich field offers plenty of benefits for motivated self-starters, including unlimited earning potential, the ability to set your own schedule, and the sense of personal satisfaction that stems from helping others in their times of need.

Launching your own independent business requires not only an ambitious entrepreneurial mindset, but also attention to practical items that can help lay the groundwork for your success. Here are a few things to think about if you’re aiming to embark upon a career in the insurance industry:

Choose a specialty.

Determining what kinds of insurance — or “lines of authority” — you want to focus on is a good first step to take on your new career path. Options may include life, health, casualty or personal lines that address vehicles, homes, rental properties and possessions.

Complete any needed training and education.

While a college degree can certainly be helpful (some schools even offer bachelor’s degrees in insurance), it’s not always a mandatory prerequisite to pursue employment in the industry. However, you will most likely have to complete minimum education requirements and a specific number of coursework hours that vary by state to work in the field. To find out more, consult the department of insurance in your state.

Get licensed.

You’ll have to earn a license for each type of insurance you want to sell in the state where you plan to work. Insurance licensing guidelines can differ between states, but usually entail a written exam, a fee and a commitment to continuing education for license renewal every few years.

Sharpen your customer service skills.

Building a client base depends heavily on your customer service skills. Remember, you’ll be working with many people who are facing crises at some of the most vulnerable times in their lives. Being able to demonstrate how your products meet their needs and conveying that information in a sensitive, compassionate way builds a level of trust that can make or break your business.

Tap into available resources.

Stay current by following local, regional and national trends through industry conferences, web sites and publications. Networking with other agents in your area or field of specialty is another good way to keep aware of valuable information that you can use to your benefit on the job.

Don’t forget your OWN insurance.

Practice what you preach and make sure your business is adequately protected in the event of a natural disaster, accident or lawsuit.

Lincoln Heritage Life Insurance Company is the leading provider of Final Expense Insurance, operating in 49 states with over 1 million policies in-force valued at more than $8 billion. For more information, visit lhlic.com.