The insurance industry has always been a lucrative one. But after the pandemic of 2020, it has become one of the most profitable industries around the world. And it makes sense: insurance isn’t just about letting your customers know that their loved ones will be cared for financially should anything untoward happen to you, it also provides customers with peace of mind, one of the most valuable things any industry can offer its customers.
The best part is that this profitability works for everyone, from the companies that provide the insurance plans, the customers that avail of them, and of course, the employees that make it all happen. Becoming part of the insurance industry is surprisingly easy, as companies offer various training programs for would-be insurance agents.
The insurance industry is bound to grow over the next few years. Beyond that, there are so many other reasons a career in insurance is probably the one for you.
An All-Inclusive Career Path
There are very few, if at all, barriers of entry in the insurance industry. This makes it the perfect employment opportunity for different types of people, whether they’re fresh graduates seeking to earn some money while they wait for their dream job, or people who are transitioning into a new career after taking positive life changes. Most insurance classes or courses take just a few weeks or months of study, with some companies even offering to pay for all the necessary licences and exams in exchange for that person selling their products.
A university degree, while desirable, is not always required by many insurance firms. Instead, many insurance firms will look closely at a person’s skill and personality rather than what grades they achieved in their A-levels.
The Earning Potential is Unlimited
Because insurance agents earn through commission, earning money in the insurance industry can become a perpetual thing. In fact, even agents who are new to the industry are surprised at how relatively quickly they are able to achieve financial success. Granted, it does take time to build a strong and steady client base, and the first couple of years should be dedicated to learning as much as one can about selling insurance and the insurance industry as a whole, but once that hurdle has been crossed, then the earning potential becomes practically unlimited.
Although one can definitely go at it on their own, it’s always better to be working directly for the insurance company, because while independent agents are usually paid generous commissions, captive agents are given the same commission but with a regular salary to augment it.
Flexibility is Encouraged
There is nothing more humbling and quintessential to the concept of hard work than the 9-to-5 life. After all, it teaches people how to earn honest pay for honest work. However, in the modern world, technology has made it so that being flexible with your hours can deliver the same rewards for the same effort, but in hours that the individual chooses. Whether you work as an independent or captive agent, a career in insurance guarantees you a flexible working arrangement that will help you accommodate both your clients and your own life.
In fact, flexibility isn’t just a guarantee: it’s encouraged. Captive agents will primarily sell insurance products that their company will require them to, while independent agents will have a wider variety of products to sell, allowing them to mix and match insurance plans for different clients.
Helping to Make a Difference
At the end of the day, we all want to make a difference in this world, and insurance agents can affect change at the personal level. Selling insurance isn’t just about the money: it’s about giving your customers the peace of mind that everything and everyone they love will be taken care of regardless of what happens to them. Providing the right type of insurance for the right client and their particular needs is particularly satisfying, as it leaves an insurance agent with the knowledge that they have made a strong, positive impact on the lives of their customers.
Insurance policies are about letting customers know that their future is going to be a bright one. Although the worries and risks of the future are always going to be there, they can rest easy knowing that they have a safety net in the form of an insurance plan.