How to Sell Individual Health Insurance

With more and more people unemployed and many businesses no longer offering insurance, there is a need for individual health insurance products. This can be a very lucrative career which is not difficult to get into. Here are a few tips that can assist you in starting a career selling individual health insurance.

1. Check with your state's Department of Insurance for licensing criteria. Every state requires you to be licensed in order to sell insurance. Some states require that you have a specific number of credit hours of class prior to taking the licensing exam while others allow you to self-study.


2. Find out the cost. The class and license fees can range from $50 to over $300 depending upon the state.  If you are hired by an insurance company prior to being licensed many of them will pay your fees for you. Be aware that if you choose this route you will be required to work for that company for a specified period of time.


3. Decide if you want to be affiliated with a company or remain an independent agent. There are perks to either choice. For new agents it may be better to be affiliated with an agency to get the initial sales training that they offer. The commission structure is not as high if you are with an agency then it is if you are independent, but you also have access to support staff, in-house training, leads and other perks. As an indpendent agent you have the ability to carry a much larger line of products, make higher commissions and have more flexibility. 


4. Learn other lines of products, especially life insurance and financial products. As you begin to form relationships with your clients, your knowledge of these products will allow you to prepare a better portfolio for them, which in turn will increase your commission. Be aware there may be additional licensing requirements to sell certain financial products.


5. Allow time to create a client base. Insurance sales is usually a commission job. If you are with an agency there may have some type of program in place that will pay you a salary the first few months while you build a client base, but this is not always the case. Once you make sales they will pay quickly, but you will need three to six months in the business before you are making steady income.