Is Selling Life Insurance a Good Career Opportunity?

By: Kaplan Financial Education
July 30, 2020
Woman successful selling life insurance

Is selling life insurance a good career opportunity? For those who like helping people and don’t mind hard work, the answer is yes. Life insurance agents sell policies and annuities. They work with all kinds of clients and beneficiaries, and most agree that it is a rewarding career. So, if you are interested in financial planning, or you have a sales background and are pondering a career change, life insurance sales is definitely worth considering. This article lists the main reasons why.

Life Insurance Sales Offers Excellent Earning Potential

A career in life insurance sales has unlimited earning potential. Life insurance agents do a lot of selling, and life insurance policy commission percentages are high compared to those of other types of insurance. In addition, life insurance agents get paid commission renewals for as long as a sold policy is in force.

You should not expect financial success right away, however. It takes a few years of hard work and networking to acquire clients. You also must be interested in marketing and have a knack for it. Once you have a solid list of policyholders and put effort into a referral program, you can continue building your book of business and grow your income.

Want advice on getting started in insurance from successful agents? Download this free Launching Your Insurance Career eBook.

Life Insurance Agents Have Flexible Hours

Life insurance agents have the option of following a schedule that is not a traditional 9-to-5 workday. A career in life insurance sales offers you the opportunity to vary your appointment times with some evenings and weekends. This schedule can not only accommodate client availability but yours as well. You can have a free weekday to schedule personal appointments, enjoy activities, and run errands. More importantly, your clients will get the attention they need at times that are convenient for them.

Life Insurance Agents Help People

Life insurance policies let people make sure their loved ones are provided for after they’re gone. As a life insurance agent, you get to help people make decisions on what insurance policy plans will work best for their beneficiaries. Your research and recommendations can make a big difference for a client’s family down the road while offering them peace of mind. And, should an unfortunate event occur, you can provide a measure of comfort to those dealing with loss.

Getting Started in Life Insurance Sales Is Easy

Life insurance sales jobs are abundant and easy to find. It’s a good choice for people who want to change careers or for anyone who wants to get started in a career quickly after high school or college. It only takes a few weeks or months to study for the state licensing exam, pass the exam, and start selling life insurance. A college degree is preferred but is not required in many insurance firms. Unlike many other finance-related positions, no prior experience is needed.

Selling Life Insurance Is Interesting

If the monotony of doing the same work over and over is unappealing, a career in life insurance sales is definitely a good option for you. Many life insurance agents agree they love the variety of work. There are some tasks that need to be done regularly, but, for the most part, agents are constantly meeting new people and helping them take care of their families and loved ones.

Life insurance agents also do a lot more than just sell insurance. They are often educators, explaining the ins and outs of all the products they sell in a way that is easy to understand. They must grow their businesses, market themselves, respond to inquiries via email or phone, and be proficient in social media platforms. They also maintain records and research prospects while keeping up with industry news, trends, and government regulations.

Ready to Pursue a Career Selling Life Insurance?

If life insurance sales appeals to you, this article explains more about what your work will be like. To get started, you must have a life insurance license. To earn a license to sell life insurance, you might need to complete prelicensing education for the state where you plan to work (26 states require prelicensing education). In addition, you must pass either a life insurance or a life and health insurance exam.

Free eBook: Launching Your Insurance Career with Confidence

As an aspiring insurance professional, wouldn’t it be great if you could sit down with a room full of successful insurance veterans and ask them for their advice? The Kaplan Financial Education team interviewed over 100 insurance professionals to develop this exclusive eBook for those who are considering the insurance industry.