Selling insurance is a rewarding career, both in terms of finances and personal satisfaction. But it also produces a lot of stress. Read on to learn how to manage it. Unless you watch TV all day and sleep through the night, stress is an inevitable part of life.
Well, that depends on what causes you stress. CareerCast Ranked Insurance Agent 155 Out of 200 on Worst Jobs List. They classify stress as “average”, whatever that means. A good income compensates for a lot of stress for many people, so that helps.
Like many sales-focused career opportunities, selling insurance is a fast-paced career that requires focus and determination. Many potential customers will say no or lose interest in the products you sell, and they can choose another agent's offers instead of what you can offer. As an insurance sales agent, you need certain skills to succeed, including perseverance, the ability to be told no, and a positive attitude. Compared to most financial careers, becoming a life insurance agent is easy.
There are no educational requirements beyond a high school diploma at most. Some states require you to take a licensing course and pass a test, but the truth is that they are as easy as a fifth-grade spelling test. Many people are attracted to the insurance industry because of the limitless potential it offers sellers. Agents with limited experience can achieve financial success relatively quickly.
While it can take time to build a client base, and we tell agents to expect the first few years to be non-lucrative, there is endless potential to make money in the long run. If you can start a good referral program, your current clients can help you continue to build your business portfolio. Independent agents receive only one commission, while captive agents often receive a combination of salary and commission. Either way, you have plenty of opportunities to increase your income.
Before starting a career in insurance sales, make sure you understand the compensation structure and what to expect. Even indirect control changes in insurance agencies may be subject to regulatory requirements, especially if the agency is licensed to operate in all states. By selling insurance to individuals, agents have the opportunity to provide great benefit to their customers. A smaller part of the agents are self-employed, while the rest work to get individual insurance companies to sell their products.
If you're wondering if selling insurance is a good profession, it's helpful to consider the advantages of this career opportunity when making your decision. Insurance is something that provides financial protection and coverage in the event of an adverse event. The way you earn your income varies depending on the company you work for and the type of insurance you sell. With life insurance, you earn a percentage of the policy when it sells, and then you receive another commission every time it renews.
Since many insurance sales agents earn commission-based income, the revenue potential is considerable. Best of all, life insurance agents receive renewals of commissions paid while a sold policy is in effect. Life insurance agents enjoy a lucrative career, but it involves constant hustle and bustle, networking and sales in the evenings and weekends, and overall hard work. Health insurance can provide a cushion for health expenses and medical treatments, while auto and home insurance protects these valuable and necessary possessions.
If you're thinking about a career change or have recently graduated from college, there are plenty of good reasons to pursue a career in insurance. Many former captive insurance agents encourage others to regain their freedom when they become independent insurance agents. If you are ready to begin preparation for the insurance license exam, choose your state to begin Kaplan exam preparation packages. And unlike a new car or mobile phone, life insurance doesn't offer any of the instant rewards that drive people to make impulse purchases.