DARE TO FLY: 3 Elements of Success for Life Insurance Agents

Many life insurance agents are currently facing an economic crisis. The odds seem stacked against them: consumers prefer online interactions, life insurance often takes a back seat to other priorities, and sales are declining. With the average life agent now over 60 and few newcomers entering the field, many are pivoting to Medicare Advantage. It’s a challenging landscape.

However, this situation has forced many of us to reflect on our careers—a practice that is often overlooked in our industry. In my 50 years in this business, I’ve observed that life agents tend to move from sale to sale without much introspection. But this downturn offers a unique opportunity to ask tough questions: What am I truly made of? How am I managing my career? Is this just a job for me, or can it be something more meaningful? If you’re not contemplating these questions, you might be in more trouble than you realize.

In my view, this crisis could be a turning point for the better—IF you're willing to change your behavior and mindset. Many agents are leaving the industry because they see it merely as a job. But it doesn’t have to be that way; it can be so much more. We need to transition from viewing ourselves as salespeople to embracing our roles as insurance professionals. Think of it like this: Clark Kent transforming into Superman. When given the choice, we all want to be recognized as professionals, earning the income and respect that come with that status. But how do we make that shift?

The answer lies in three fundamental elements of success. While they may seem simple, embracing these changes in behavior and thinking is the real challenge. Let’s dive into these three elements:

1. Love What You Do

Life is challenging enough without waking up dreading your day. In the insurance business, success hinges on human interaction—whether by phone, online, or in person. If you don’t enjoy connecting with people, you’re limiting your own potential. If this aspect of the business doesn’t resonate with you, consider exploring other career options. However, if you do enjoy it, keep reading.

2. Commit to Continuous Education and Training

When I began my career, training was a necessity. We had structured sessions every week, with rigorous accountability and support. Nowadays, training has become the responsibility of the individual. There’s often no manager guiding your progress, no mandatory meetings. Today, a professional agent must actively commit to their own education, seeking out workshops, courses, and resources. For instance, I’ve learned that top athletes like Stephen Curry dedicate time daily to work with their coaches. If he invests in training, shouldn’t we?

In my firm, we offer programs like Pegasus University, which teaches GAs how to recruit and train agents, and Pegasus Academy, which helps agents plan for productivity. The importance of ongoing training cannot be overstated.

3. Make a Sale Every Day

The feast-or-famine cycle prevalent in our industry creates unnecessary stress and can lead to failure. Many agents chase big commissions, neglecting the power of consistent, smaller sales. Small sales provide stability and pave the way for larger opportunities. A true professional understands the importance of selling something every day, regardless of the size of the sale. This habit fosters persistence and leads to greater success over time.

To summarize, Love what you do, Commit to ongoing education, and Make a sale every day. Without these three elements, you risk becoming just another empty suit, spending hours in a job instead of actively building a rewarding and meaningful career. Remember, Superman isn’t extraordinary simply because he wears a cape; he has the ability to fly. We too can develop our unique strengths through education, persistence, and a shift in mindset. It all starts with reflection—and leads to success.

DARE TO FLY!

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