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BLOG 01/19/2021

Job-hunting during COVID? Consider life insurance sales

When Phil Davis first applied for a job with eFinancial in 2009, he had no previous sales experience. Fast-forward 11 years, and he’s held the title of top sales agent, led sales teams, and even explored new career paths as a recruiter for the company.

“It’s changed my life,” Davis says.

For people who have lost jobs during COVID, life insurance sales could be the life-changer they’re seeking, too. COVID has caused massive layoffs that have left millions for Americans unemployed, with younger generations especially affected. Bureau of Labor Statistics data also shows that millennials are facing longer stretches of joblessness than other age groups.

But while opportunities are shrinking in industries like hospitality and retail, the life insurance industry is going strong. Life insurance offers financial security to families by providing a payout if a loved one dies, and people are buying it in record numbers.

Even before the pandemic began, the number of people planning to purchase a policy within the next year was at all-time highs. With COVID-19 prompting more people to look for coverage, new applications for life insurance were up more than 4% over the previous year in November.

At eFinancial, our online and phone sales model, same-day coverage options, and commitment to affordability are putting life insurance within reach for more families right now – which means more opportunities for our sales team. If you’re considering your next career move, here’s a glimpse inside the life of an agent.

A stable industry, growing opportunities

For current and aspiring sales professionals, what makes life insurance appealing? According to our agents, it’s a combination of the pay, the people, and the professional opportunities – along with the pleasure of knowing you’re making a difference.

“I’m so proud how our organization has created opportunities and shaped so many successful careers,” says Marty Schroeder, senior vice president of sales at eFinancial. “Up and down the company, you’ll see people committed to improving the lives of our customers by providing the trusted guidance and peace of mind that comes from protecting their loved ones with life insurance.  It never gets old when you feel good about the work you do.”

eFinancial’s mission is to help everyday families access life insurance, and our sales agents make that happen by helping customers shop and compare options from multiple companies.

The company currently has three sales locations in Chicago; Bellevue, Washington; and Tempe, Arizona.

Earlier this year, we introduced remote work for the health and safety of our team. Today, our employees can choose to work remotely or in one of our office hubs. Either way, they’re supported through a program designed to help build their sales skills and industry knowledge.

There are a lot of upsides to working at eFinancial, and our employees told us the best parts of the job:

Competitive Compensation

For young sales professionals looking for a stable paycheck, a life insurance sales career can help boost their earning power significantly. And while many life insurance sales jobs are commission-based, eFinancial offers a base salary plus commissions for added security.

We also provide leads to people who are actually interested in buying, meaning you don’t have to go searching for them on cold calls. Factor in a program designed to help all our agents advance, and our top agents take home six-figure salaries – often in under a year.

Since Shayla Mayweather started at eFinancial this past March, she’s already promoted twice. As her responsibilities have grown, she says, so has her pay.

“The eFinancial business model is great. They turn on the faucet slowly but steadily for you – meaning my paycheck has grown significantly since I’ve come here,” Shayla says. “I look forward to it growing more.”

Work-From-Home Flexibility

Since customers buy life insurance from eFinancial over the phone, there’s no need to go door-to-door as a sales agent – or even into an office. When COVID hit this spring, eFinancial rolled out a system to allow our sales team to work from home.

We provide flexibility for all our employees to ensure their individual and family’s health is prioritized. Some prefer to be on-site, some are remote, and some have a hybrid arrangement. And although you’re at home, you’re never on your own.

“When I first started working from home with eFinancial, I was admittedly worried about how I would address computer issues or any other issues,” Shayla says. “My first day, I remember getting an email from my manager following up to make sure everything was going well. I realized I couldn’t lose here.”

A Friendly Culture

At eFinancial, our agents work side by side with both their teammates and managers. Along with a promote-from-within culture that emphasizes mentorship and collaboration, our team genuinely enjoys one another’s company through regular virtual events, contests, and more.

“It’s not a stuffy or corporate atmosphere. We want people to succeed,” Phil says. “While other companies might focus on one or two individuals to promote, eFinancial wants everyone to have that opportunity.”

The Satisfaction of Selling a Product That Matters

Products like ad space or event tickets might be a hard sell right now, but life insurance is a product that still has a lot of value to the people who buy it – and always will. Because eFinancial offers a range of plans for people with different needs, we’re also often able to help people who thought they may not be able to buy life insurance.

“I had one customer who had some chronic health issues who was understandably hesitant to talk about her conditions,” Shayla says. “She still qualified for higher-value products, and it was great to say, ‘We have an option for you.’”

Is a life insurance sales job right for me?

You don’t need insurance or even sales experience to excel in life insurance sales. The most important factor? A sales mindset.

“If someone has natural talent, we can teach them the skills,” Phil says.

When it comes to life insurance sales, some of the skills that might make you a natural fit include:

  • A competitive and energetic attitude. People with backgrounds in sports, debate or speech teams, and the performing arts all tend to be naturally competitive and do well in a sales environment, Phil says. People with backgrounds in retail and the service industry also bring the natural energy and enthusiasm needed to provide excellent customer service. 
  • The ability to receive feedback. Since eFinancial’s sales model is unique, it’s important to be open to learning from others. “A couple of years into my role, we hired a man who struggled in his role at first. One day, he asked me to take a call for him so he could observe me,” Phil says. “He kept at it and ultimately became one of the top three agents in the company.” 
  • Being a self-starter.  Whether you’re working at home or in the office, people who are proactive about asking for what they need and how they can grow will do well. When Shayla was getting up and running at home, she says, she didn’t hesitate to reach out with a question about the software to ensure that she was providing the best service to her customers. “Sometimes it’s actually easier to track down people online than in the office,” she says. 

Interested in a career in life insurance sales?

We’re always looking for talented professionals to join our sales team. Learn more about life at eFinancial and explore our latest roles.

At eFinancial, our goal is to make life insurance simple, affordable, and understandable for everyday families. This content is intended for educational purposes only. Each post is carefully fact-checked, reviewed and updated regularly to ensure the information is as relevant as possible.