Insurance Careers--Sales
One of the benefits of starting a career in the insurance industry is the ability to go into a few different paths. Of course, many people choose to go into insurance sales. Maybe it's the allure of making a lucrative salary or designing their work day. Whatever the reason, insurance sales positions are hotter than ever. And the branch you decide on is entirely up to you. You could go into life, health, property, and casualty. Whatever path you choose all offer great opportunities and benefits.
So, what does a career in insurance sales look like? Well, while insurance may not sound like a glamorous role, it's a position that can be whatever you make out of it. Look at it this way; everyone needs insurance. You could make a name for yourself selling home, and auto insurance to high net worth individuals or become the go-to life insurance specialist for athletes. The possibilities are endless as long as you pass the insurance exam of course.
The Future of Insurance Sales
Employment for insurance sales agent is expected to increase by 10% over the next few years. This trend is faster than all other professions on average. The increase is predicted to be more so on the side of independent sales agents working for agencies and brokerages compared to captive agents. People who possess excellent customer service skills, a strong background in financial products and a college degree are likely to show the best chances for success. But anyone with a strong work ethic and willingness to learn can succeed. Insurance companies always need a continuous stream of new customers to maintain profits, the exceptional talent to bring them in. Because of that demand for skilled insurance salespeople is expected to continue.
Insurance License
Before the fun begins, you must obtain an insurance license to sell insurance, no matter the type. Requirements for licensing will vary by each state, so it's important to check with your state's insurance division for all that you need before you begin. Each state is a little bit different, but for the most part, they require you to:
complete a background check
provide your fingerprints to the state
pass the licensing exam
Some states may also ask that you complete a pre-licensing class before taking the exam. Even if your state doesn't require it, it's a good idea to look at insurance school to help you ace the insurance exam.
complete a background check
provide your fingerprints to the state
pass the licensing exam
Congratulations! You Passed the Insurance Exam, Now What?
Once you have passed your exam and fulfill the necessary state checks, you are ready to sell insurance. You can expect to make a base salary + commission. Of course, the actual dollar amount you make ultimately depends on you and who you work for.
Working for a captive agent may have a different incentive package then working as a sales agent for an independent agency. And then running a brokerage yourself may look different from working for someone else. You can read more about working for captive vs. independent agents here.