Insurance sales interview questions, with answers and a needs analysis roleplay

I like that the product matters most on someone's worst day, so getting it right is important. When my parents' basement flooded, the agent who had set up their policy made a terrible week manageable, and I remember thinking that was a job worth doing well. I've spent two years in retail banking, so I'm used to talking with people about money and asking for their time.

I'm comfortable with it, and I've planned for it: I have savings to cover the first few months while I build up. What I like is that it rewards the activity I control. If I make the calls and follow up properly, the income follows. I'd like to understand how new agents here usually ramp, so I can set realistic goals.

Not yet. I've looked at the pre-licensing requirements for this state, started the course and scheduled my exam for next month. If you sponsor pre-licensing for new agents, I'd like to know how that works here.

From several sources at once. I'd tell people I know what I do, without pressuring anyone, and ask who they know who has just bought a home or had a baby. I'd work any leads the agency gives me quickly, join one or two local groups, and ask every client I help for an introduction. And I'd set a daily number of conversations and track it.

I'd start by explaining why I'm asking: a quote without the facts can be way off. Then I'd ask who depends on their income, what debts they have, like a mortgage, what coverage they already have through work or elsewhere, and what they'd want to happen if something happened to them. I'd summarize it back, check I had it right, and only then recommend an amount and type of policy.

That's completely fair, it's an important decision. So I can help, which part do you want to think through: the amount, the cost or something else? ... Got it, you want to talk it over with your partner. Would it help if we set up 20 minutes with both of you on Thursday evening, so they can ask their questions directly?

That's great, a lot of people don't have any. Do you know roughly how much it pays out, and what happens to it if you change jobs? ... Then it's worth comparing with what we worked out your family would need. If it covers it, you don't need anything from me. If there's a gap, at least you'll know.

I understand. What monthly amount would feel comfortable? ... Then let's see what we can do for that. We could adjust the amount or the length of the policy so it fits, and you'd still have the most important part covered. Would you like to see that option?

In plain words, with their own situation. Something like: "If something happened to you, this pays your family a set amount, which we worked out would clear the mortgage and cover a few years of living costs. You pay a monthly amount to keep it in place." Then I'd ask them to tell me in their own words what it does, to check I explained it well.

At the bank, a customer wanted a premium credit card for the rewards. When I asked how she used her card, it was clear she carried a balance, so the fee and interest would cost her more than the rewards were worth. I recommended the basic card. I lost the commission on the premium one, but she came back the next year to open accounts for her kids and asked for me by name.

By focusing on what I control. I'd track my activity every day, so a bad day is just a number to fix tomorrow, and I'd think back over the conversations that went wrong to check whether it was me or just timing. Doing fundraising calls taught me that a no is usually about the moment, not about me, and some no's became yes's on a later call.

Everything goes into the agency's system the same day: who I spoke to, what they said and the next date to contact them. I'd block time each morning for the follow-ups due that day, and I'd review policies coming up for renewal a month ahead, so clients hear from me before they start shopping around.

Happy to, but I'd be guessing if I started with a policy. Can I ask a few questions first? Who depends on your income? ... Two kids and a mortgage. Do you have anything through work? ... So if something happened to you, the mortgage would be the first worry. I'd look at a policy that clears it and covers a few years of costs. Can I put together two options and go through them with you and your partner on Thursday?

Three reasons. You focus on families and small business owners, which is who I know best. When I spoke to one of your agents, she said new people here are coached on every call in their first months, which is how I learn best. And she said you expect agents to recommend the smaller policy when it fits, which is how I want to work.