Is Life Insurance a Good Career Path?

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Is Life Insurance a Good Career Path?

Are you on the brink of taking your career decision? Have you recently completed your degree, or there is an urgency to get established? Have you ever considered the Life Insurance industry as your career path? If yes, then you have come to the right place indeed. In this article, you will get to explore what the life insurance industry is like, what are its perks, its pros and cons, and some solid reasons to choose this industry as your ideal career path.

From highest paid jobs to positions that require the minimum level of educational qualification, literally, there is a job for everyone in this industry. Read this article till the end to know some exciting things about the life insurance industry.

1. Easy to Get Started

Getting started with a job in the Life Insurance industry is the easiest of all. You are not required to have prior experience, neither have you to produce degrees at the interviews. Your potential and negotiation skills are more than enough to land you up with a job of your choice. Unlike all other jobs that require you to produce degrees, proofs of training, and internships, you can always begin at any point from anywhere in the life insurance industry with a minimum level of qualification. So you get it by now; you can get started in the life insurance industry, any time.

Is Life Insurance A Good Career Path

2. A Plethora of Work Opportunities

There are sure a lot of work opportunities in the life insurance industry. You can choose amongst a lot of job positions, here are some of the most popular ones:

  • Sales Managers
  • Securities, Commodities, and Financial Services Sales Agents
  • Advertising Sales Agents
  • Wholesale and Manufacturing Sales Representatives
  • Loan Officers
  • Financial Managers
  • Retail Sales Workers
  • Insurance Underwriters

And so many others to choose from. With so many available positions to choose from, if it gets confusing for you to figure out which job position will be the most suitable one, then think about what kind of work you would love to spend your day on, and it will become much easier to find out what you are actually after.

3. No Fixed Income Which Means Unlimited Earnings

The best part about life insurance jobs is there are no bounds to earning money. Especially, the job positions that are associated with Sales are the best example of this type, there is literally no bounds to the amount of commission you can earn from selling insurances, and as a result, there are no worries associated with earning low. Because you already joined a position with a fixed salary, and every time you earn a commission, it becomes your bonus so, more sales mean more money. Now, it is up to your skills how much you can make out of this golden opportunity.

Since we are talking about money here, would you be eager to know which job positions are highly paid or require more or least level of education? The positions of Advertising Sales Agents, Financial Managers, Loan Officers, Insurance Underwriters, Sales Managers, to name a few, are among the most high-paid jobs in the insurance industry. Whereas, Retail Sales Workers, Wholesale and Manufacturing Sales Representatives, Wholesale and Manufacturing Sales Representatives are among those job positions that require the least level of education such as, a basic high school diploma. On the other hand, positions like Compensation, Benefits, and Job Analysis Specialists, Loan Officers, Financial Managers, Human Resources Specialists, Sales Engineers, Securities, Commodities, and Financial Services Sales Agents are among the many job roles that require higher degrees. However, there is an undeniable fact, your extra earnings will solely depend on your personal skills, and sometimes you might not be successful in making extra money too if you are not able to find out or convince the right client. It is challenging indeed to earn extra rewards!

4. Flexible Work Schedules

Another solid reason to choose life insurance as your career path is the flexible work schedules which mean no monotonous 9 to 5 jobs that worry you. Rather, you can actually work according to your own preference and also complete your further studies alongside; this is an opportunity not many industries can offer.

Since your job will not be monotonous and will not require you to stay glued to your desk from 9 to 5, it will become a lot easier to love what you are doing and show more determination. And, just because these jobs are not monotonous, they are absolutely not boring at all rather, there is something new to discover, learn and explore every day.

5. Job Security

Whenever you choose a job, your job security is the most important thing to look at. And, when it comes to the industry of life insurance, there is certainly job security involved with every role you choose to work in.

Insurance has been there for centuries, and it will continue to exist as long as people continue to need medical care, drive cars, own homes, and run businesses literally; insurance is everywhere around you. When a country’s economy is at stake, the industry of insurance can still remain stable. Hence, it offers greater job security than other industries.

Is Life Insurance A Good Career Path

6. Freedom to Switch

A job where you enjoy your freedom and don’t have to work like a machine without a soul is the best way to get established and enjoy your work life. In the life insurance industry, you get to enjoy this freedom in many ways, freedom to work under any schedule, freedom to earn without bounds, freedom to explore new challenges and go beyond limitations, and lastly, freedom to upgrade your skills and reach for higher positions. This “freedom” is what every other job lacks to give people their space and time.

7. Making a Difference in People’s Lives

By working in the life insurance industry, you are not only making money, meeting new people but also changing lives. Think about your lives without insurance, or what your parents would have done without life insurance, car insurance, or even home or business insurance; who would have taken the responsibility to suffer all the uncertain, abnormal losses? Hence, with insurance, you are building an everlasting bond of trust between your clients and the company, a trust that stays lifelong and stands by the side during harsh times.

If you cannot leave an impact on people’s lives with your job, then what fun it is to work hard every day? When you realize the worth of making a difference in people’s lives through your words, you actually realize the worth of the insurance industry and how important are they in this modern world.

Is Life Insurance A Good Career Path

8. Getting a Chance to Develop a Broad Skill Set

With the kind of new opportunities and challenges you come across every day, you actually get a chance to develop a broad skill set. Imagine being an effective and efficient Salesperson, but your task is not limited to selling insurance; rather, it involves many skills to actually be able to convince people to buy your insurance. Since your job will be solely based on skills, companies usually look for employees who have skills in Technology, Problem-solving, Research, Analytics, and Organization.

And, as you know, the insurance industry solely depends on its customers and looks after their needs diligently. The industry these days is employing those who have sound knowledge in social media, digital marketing, and cyber communication. So, having both personal and technological skills are necessary these days.

9. Overcoming New Challenges Everyday

As discussed earlier, you may come across new challenges every day, and these challenges will prove to be your best trainer and make you experienced. Suppose, if you are a Salesperson, it may be very challenging most of the time to convince your clients to buy the insurance or say the right words to bring out that “yes” from them. It really requires a lot of wit, tactics, and skills to deal with different types of clients every day.

But, it is not a “yes” every time; some clients are really hard to impress, and even if they say a no, it is a lesson for you to learn and keep in mind. So, you can understand, if you are choosing sales jobs particularly, every day is going to be a new challenge, and if you are adventurous enough, you would surely love these new challenges.

Is Life Insurance A Good Career Path

10. Getting a Chance to Travel, Like a Lot!

You must have got to know by now that if you land up with a job in the insurance industry, there is no chance of staying glued to your desk, staring at the computer screen from 9 to 5. One of the main reasons the life insurance industry is a good career choice is because you really get to travel a lot, and those of you who do not want to have monotonous work routines will definitely find insurance jobs exciting.

Sometimes, traveling a lot can be tiring, but of course, it is way better than killing your backbone in a 9 to 5 job.

Summing up at the end with a bonus, the industry of life insurance is really rewarding, if you work hard and prove to be skillful; you will definitely receive some unexpected rewards. There are indeed many perks of choosing the life insurance industry as your career path, be it the flexible work schedules, no limitations to earning, getting a chance to hone your skills every day, or many other fascinating things you wouldn’t surely regret working here.

About the author

Indu has been educator since last 10 years. She can find all kind of scholarship opportunities in the USA and beyond. She also teach college courses online to help students become better. She is one of the very rare scholarship administrator and her work is amazing.