This word captures the essence of the industry from approaching a prospect, scheduling an appointment, presenting a product, and closing the sale.
The job just keeps on going and going. This is what entices a lot of achievers to join the industry.
Unlike an employee in a 9 to 5 job, an insurance agent doesn’t have to get tangled up with formal requests, memos, and bureaucracies. Or does he?
A lot of agents are not informed that they will have to deal with taxation and other compliance requirements—most of the time, on their own.
It has also become a common practice to delay documents that should be submitted right when the insurance agent starts on the job.
Then all of a sudden, in the middle of the year, the compliance department of the company sends an email to the insurance agent and his manager—it’s a long list of documents that needs to be submitted or else, that application for a new business he just sent can’t be approved.
In most cases, the issue is resolved and the agent goes on with his activities. However, not everyone survives this situation.
Many insurance agents are part-timers.
They’ve taken the job so they can utilize their extra 2 to 4 hours every day and earn additional income.
I know of part-time agents who had no choice but to resign because they couldn’t submit the necessary documents for compliance with the limited time they had.
This is painful to a lot of managers because being a full-time insurance agent guarantee success. There are part-timers who are very productive.
They’re just saving up for an emergency fund so they can transition to becoming a full-time insurance agent.
But paperwork has prevented a lot of success stories for part-timers in the industry.
Let us help you get back and focus into the action!
—–
I’m Prof Xy, the preferred Tax Consultant of Filipino MSMEs and professionals. I help financial advisors, real estate agents, and business owners become tax compliant by simplifying tax and providing tax services for their comfort and convenience.
Take action now!
