Being an insurance agent is not always the first thing that pops into one’s mind when thinking of dream careers. Most kids say they want to be lawyers, doctors, or architects, but you rarely hear children being encouraged to try a career in insurance. But there are plenty of benefits to becoming an insurance agent, especially in a pandemic and a recession. Here are some reasons why you should become an insurance agent.
The job offers flexibility and freedom to manage your own time.
If you have experience with the 9-5 life and found that it wasn’t for you, then you’ll enjoy the endless freedom and flexibility that being an insurance agent offers. You don’t have to clock in and out of an office, and you will have the ability to control how your workdays go. You get to decide how heavy your workload will be and the speed at which you finish your tasks.
That’s not to say that selling insurance won’t take a lot of hard work; in fact, your success as an agent will depend on the work and effort you put in. Success in this line of work is not automatic, and you will need a lot of dedication, but at least there are many opportunities for you to increase or advance your income as time goes on.
You get to help a lot of people.
The COVID-19 crisis and the recession that followed prove that disasters can strike at any moment, and they happen when we least expect them. While many people become insurance agents for the earning potential (and there’s nothing wrong with that!), the ability to help others is also a wonderful incentive to try his career.
You get to help families start again when they lose their breadwinner, clients who suddenly fall ill or go through an accident, and people who need help in getting out of a sticky situation. As an insurance agent, you will have the privilege of helping make a difference in people’s lives.
The potential to earn is solid.
Various factors will affect your success as an insurance agent, such as your location, the types of products you’re selling, and how much work you’re putting in. But when all of these things come together, being an insurance agent will provide you a chance to earn income that’s enough to live comfortably. As an insurance professional, your compensation will largely come from commissions or a fixed salary, or in some cases even a combination of the two. Some insurance companies also offer opportunities to earn plenty of bonuses, especially for top-earning agents.
The U.S. Bureau of Labor Statistics also notes that the top ten percent of insurance professionals earn more than $125,000 a year. While most entry-level agents will not be earning that much in the first few years of their careers, it’s an encouraging reminder to work harder to achieve it in the future. At the same time, there is a lot of protection for insurance agents. The cost of errors and omissions (E&O) insurance policy for insurance agents, for example, helps cover the costs of lawsuits if something untoward happens or if mistakes happen.
The insurance industry will always be around.
Regardless of the state of the global economy, there will always be a need and demand for insurance all over the world. While the industry may ebb and flow as trends come and go, there will always be people in the world who will purchase insurance. While every industry has its own volatility and uncertainty, it’s almost impossible to imagine a world with no insurance.
At the same time, advances in technology have made it possible for insurance agents to connect with people, even when we have to keep a safe distance from one another. And even as technology has rendered a few jobs unnecessary, some insurance clients will always prefer human industry experts over robots or automated answers.
You will never stop learning.
As an insurance agent, you will need to be the following: A consultant, a financial manager, a businessman, and everything in between. There are always new technological tools to learn and use and new strategies to incorporate to make your business a success. If you are someone who loves learning, maybe being an insurance agent is perfect for you.
Being an insurance agent is not a walk in the park and does not offer instantaneous success, but if you love helping others and value your freedom, you might find success in the industry. Just work hard and partner with the best agencies and coaches to help you achieve your dreams.