You might be surprised to learn that by 2027, the US economy is expected to have as many as 86.5 million freelance workers.
More people are flocking to work for themselves.
Working independently can be a lucrative opportunity with the right drive and enthusiasm for what you're working on.
When you work for yourself, you also can have the independence to make decisions and work when it's right for you.
Are you interested in making money selling annuities, but you're unsure how to get started or whether it's a good idea?
Keep reading to find out more about selling annuities and self-employment.
What You Need to Sell Annuities
f you want to work from home, selling annuities might just be your career.
Annuities fall under the insurance umbrella, so you must have an insurance license to sell them.
Each state has its own division of insurance.
You will want to seek information from your state's insurance division to learn about the licensing and requirements for selling annuities.
In most cases, selling fixed annuities requires a life insurance producer's license.
If you hope to sell variable annuities, you'll need to take the Series 6 or Series 63 licensing exams.
Selling Annuities Online and by Phone
When you work for yourself, there are many ways to pursue selling annuities.
It's nice to know you're pursuing a career where you can work from home if you want that option.
You can choose to sell in person, of course, with the right leads in place.
You can also opt to sell annuities online or by phone, too.
One key to your success is reaching seniors who are already interested in annuities and how annuities can be an essential part of their investment picture.
Qualified Leads Are the Key to How to Become Your Own Boss
No matter what they're selling, any salesperson will tell you the key to a successful sale is finding the right customer.
You can hit many dead ends in sales if you're random or approach potential customers haphazardly.
Pro Tip: Instead, to be successful in selling annuities, you want to go into it with qualified leads who you already know are interested in the possibility of buying an annuity.
When you work with a company that can help supply you with those leads of people who want you to seek them out with information, you're bound to be successful.
Prospects and Professionals On Demand (PPOD)
There is a system widely used across many states by agents selling annuities called Prospects and Professionals On Demand (PPOD).
Using the PPOD program prevents the need for cold calls, which are often dead ends. Instead, you have leads at your disposal, ready for you to make a call.
The other advantage of using a program like PPOD is the support of other professionals who can support your sale and provide additional resources for the customer.
Use a Smart System of Professionals to Support Your Selling
The Smart System of Professionals addresses customers' needs across the board. Instead of talking with you about annuities, then seeing their tax advisor, financial planner, and other insurance agents, you can work as a team.
Most consumers need and want to look at the big picture. They don't want to purchase an annuity exclusive to their other retirement investments.
It makes sense to offer a complete team of professionals to work with potential customers to address all their needs.
Options to Help You Sell Fixed Annuities
There are additional ways to secure leads and make selling annuities lucrative beyond using the PPOD system. You still will have access to a team of professionals.
Let's take a closer look at other avenues to support your success in selling annuities.
One option for your sales is to take advantage of Vetted TeleLeads.
When you use these, you get:
- Screened leads who've requested an appointment
- Pre-qualified leads
- New leads that haven't already been approached
A good aspect of Vetted TeleLeads is that they have targeted leads that can work for you.
Using the binder presentation as part of your sales process is also a good idea. Once a sale is made, specifically for a Medicare supplement policy, you can visit the buyers with the binder.
This binder shows the customer other options, including a fixed annuity, that should be a part of their financial plan.
Bird Dog Program
You may know that your strength as a salesperson is sitting face to face with a potential customer.
This is the kitchen table kind of sale. You sit down at the table and promote and make a sale. Yet, you need to find those kitchen tables. The Bird Dog program can help you do just that.
The program has you sending out letters to potential customers. The analytics are in place. You'll know how many responses to expect based on the number of letters you send.
Another option, if you've been in the industry, is to use the introduction letter to reacquaint with customers you've already worked with in the past.
Perhaps you use the letter to remind them of what you can do for them. Or you can introduce your product and show it could benefit them.
This can feel very personal and be effective if you already have a relationship with the customer to whom you're mailing a letter.
Work for Yourself Selling Annuities
If you're excited to work for yourself and seek that independence, it's time to consider selling annuities.