It’s a strange economy right now, with a lot of uncertainty and a lot of questions about job security and the future of work. It’s also a time when many people are thinking “What’s Next?” What career is “safe” and what can make people the money that they need to not only survive, but thrive?
We want to encourage you to consider one of the oldest professions of all time.
No, not that. We’re talking about insurance.
Insurance, as a career, has existed for 5,000 years, and it is going to exist for 5,000 more. It is one of the most important forms of financial security, and everyone needs it – often in ways they do not even realize.
Not only does everyone need insurance, but there are many types of insurance products, many different solutions that people need help navigating, and many more people requiring insurance with each passing day. Life insurance, car insurance, business insurance – the opportunities are endless, as are the ways to make money.
But why *now?*
Aren’t there already a lot of insurance agents? Are there really that many products to sell? Why would I want to enter this field *now?*
There are actually many reasons that now is a great time to enter the insurance world. For example:
- Most People Are Underinsured – Only half of US adults have life insurance of any kind, and that includes insurance that expires (term life insurance). Only about 10% of US seniors have long term care insurance. Business insurance needs change annually. There are a lot of agents, but there are even more people (WAY more people) that need insurance and do not have it.
- Insurance is Generally Recession Proof – While the economy has an effect on insurance, it doesn’t stop the need for insurance. Everyone still needs auto insurance, homeowner’s insurance, life insurance, and on and on, which means that – good times and bad – there is always opportunity for you.
- Many Agents Are Retiring – It’s estimated that over 50% of the insurance agents operating right now are likely to retire in the next 15 years. The insurance workforce is largely older, which means that in a way, by entering the world now, you’re getting in on the ground floor as more leave the workforce.
- Insurance Offers Freedom – One thing that many people outside of the insurance world are surprised to learn are how many people in insurance just … coast. If you’re a successful agent, you can get enough clients to pay a high paying annual salary without doing much extra work. It takes a lot of time to reach that level, and it’s still useful to continue to find new clients to help you grow and make up for lost clients, but a lot of experienced agents are able to live great lives off their residuals.
You’ve probably heard some bad news in the insurance world in California, like how hard it is to get homeowner’s insurance in areas of high fire risk. But don’t let that news fool you. If anything, it represents opportunity, as those people still need homeowner’s insurance, along with countless other insurance types.
Are You Ready for a World in Insurance?
With that in mind, it’s still important to understand that insurance is a difficult job. It takes time to grow your client list, it requires a lot of self-motivation and belief in your products, and it requires breaking out of your comfort zone. Not everyone that becomes an insurance agent is going to be successful.
But if you’re looking for a career change, you’re ready for the opportunity to make a lot of money, and you’re interested in a career that can handle today’s economy, then insurance may be right for you.
LyteSpeed Learning has insurance pre-licensing courses for those interested in starting a career in insurance, and we’re pleased to also share job openings on our website at insurance agencies that are licensed in California. If you’ve been interested in a new career, consider insurance. It may be just what you need.