Is Selling Life Insurance a Good Career? In reality, selling life insurance is a difficult way to earn a living, and it's even harder to maintain a lucrative and long-lasting career. Some industry analysts report that agents sell out within a year. You may also experience constant pressure to meet different quotas and objectives. The highly competitive nature of the profession can create a work environment that often leads to stress and exhaustion. Insurance agents usually make money through commissions, but there are several other ways they can earn income.
In this section, we'll discuss each of these methods. However, selling health insurance also has advantages that you can witness but not experience. If you've already worked in customer service, those skills will translate directly into selling insurance. While commission structures have the biggest impact on how insurance agents make money, there are other factors that have a big influence on their earning potential. The amount of money you can make selling life insurance will depend on a variety of factors, including your ability to convert prospects into customers.
A combination of certain hard and soft skills can help you succeed if you decide to become an insurance agent. While the insurance industry is stable and revenues are lucrative, it can sometimes be difficult to plan ahead and know where your next paycheck will come from, as your income may be based solely on sales made. If you want to know how insurance agents at insurance giants like Farmers and State Farm make money, you can check out these guides on how much State Farm insurance agents make and how much Farmers insurance agents earn. Insurance agents may focus on different areas of selling insurance, such as selling to businesses or individuals.
An advantage of the insurance industry is that, once you're a licensed health and life agent, you have the freedom to decide what type of products you want to sell. The bright side is that selling life insurance offers some benefits that are hard to find in other careers. That said, insurance agents who work hard, keep up with the market, and strive to win loyal customers should be very successful in this industry. Because many insurance agents make money through commissions, this also means that those who have a great work ethic and are willing to do their best to forge strong relationships with customers receive a generous reward in the form of higher incomes. This type of sales professional usually has contracts with insurance companies that detail what policies they can sell and how much they can earn from selling insurance.
Like any profession, pursuing a career as an insurance salesman has its advantages and disadvantages.
