How to Sell Mortgage Protection
- 1). Contact the Department of Insurance in your local area. Any party that has a desire to sell mortgage protection services to clients must be approved to practice by the state in which he resides. The required level of competence can be demonstrated to the regulators by obtaining a passing grade on the insurance test your particular state mandates to become an insurance agent who sells mortgage protection benefits. When you telephone the appropriate state licensing agency, it will let you know the costs involved, location of classes you can attend to get ready for the test and the best way to set up the date when you will take the actual test.
- 2). Purchase valid insurance to protect your business. Each state stipulates that agents who offer mortgage protection services must have liability insurance benefits. The reason why this form of insurance is needed is because it protects salespeople from carrying the financial burden that can arise when errors are made while dealing with clients. If the errors you make cause a client to suffer extreme economic hardship, the insurance you acquire will compensate you for any funds you must pay that particular customer.
- 3). Speak with a representative from the companies whose mortgage protection services you plan to offer. Telephone each company whose policies you desire to market, and ask for the materials you will need to sell their goods. They will send you everything you need such as relevant data about the history of the organization, product information, pay plan explanations and documents to be used when dealing with your clients. Fill out each document you receive, and then return the materials to the appropriate person who handles licensure for the company. Include your insurance coverage and state licensing information as a part of the package you return.
Source...