Can an independent insurance agent…hire telemarketers who are not agents to market insurance products?
There is an insurance business near me and they are always hiring and firing people for telemarketing jobs. Just wonder if all these people have to be licensed to telemarket??? Thanks.
A telemarketer, in order to sell insurance products, must be licensed with the insurance companies, and with the state in which the products are sold.
An agent can hire telemarketers to make calls to set appointments for agents to sell insurance, and not have to be licensed.
There is a big turnover in telemarketers, especially if they are making quotas on appointment setting, which would explain all the hiring and firing.
In order for a person to sell insurance, he/she must be licensed, in addition to having product knowledge to be able to sell the product.
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Hi,
Life insurance solutions are for long term goals in life and requires complete understanding of assest and liabilities, specific need and what investments will help achieve those needs. Now, all this on the phone is not possible. Hence world over insurance products are preferably sold in person and moreso with family members around.
Secondly, no insurance product can be sold without qualification or let’s say mandatory licensing by the seller. It is not a consumer durable, memberships or assets product of a financial institution which can be sold and serviced over the phone by anyone who has average to good communication.
So neither ethically nor from compliance point of view the sale of insurance products is the right thing to do.
However, what telecallers can do is generate warm leads and pass on to licensed agents to further sell without dabbling into any area of product etc. Hence the training of these telecallers should be only upto generating prospects and not beyond.
References :
Depends on what state you are in, and what exactly the telemarketers are doing. They CAN set appointments. They CANNOT advise about insurance, sell insurance, or give quotes, in most states.
References :
A telemarketer, in order to sell insurance products, must be licensed with the insurance companies, and with the state in which the products are sold.
An agent can hire telemarketers to make calls to set appointments for agents to sell insurance, and not have to be licensed.
There is a big turnover in telemarketers, especially if they are making quotas on appointment setting, which would explain all the hiring and firing.
In order for a person to sell insurance, he/she must be licensed, in addition to having product knowledge to be able to sell the product.
References :
Retired agent/mgr., 30yrs