What do you say about working in insurance sector ????

Question

like i got an oppurtunity from a insurance firm so i need my friends opinion because you all are my friends that's why iam asking to you.

Answer 1

It's a great long term business.  If you are expecting to get rich or make $100,000+ in your first year, don't bother...it ussually won't happen.  It takes a couple years to build your business, then the money starts rolling in.

Make sure you check around with other insurance companies before you commit to the first one.  There are a lot of different companies who have a lot of different compensations and procedures.

I personally chose the broker route becuase now I can offer my clients the best product on the market, so they don't have to shop around.  If they find a better deal than what I presented, I can still offer that to them and explain why I presented the other company.

Ask how you are compensated, if you own the clients or if the company does.  If you don't own them up front, when does the vesting begin.  Ask what your expenses are, if any.  Are you responsible for marketing materials or do they cover that?  Do your homework and make sure it is a good company with solid products.  If doesn't matter how much you know or how good you are at selling, if you are promoting a c**p insurance product, it will make things a lot tougher for you.

Find someone that is close to your same situtation (same age, same # of kids, same type of personality, new inthe biz) and ask that person how they are doing.  Then poll your firends and familiy and see if they would actually do business with you if you got into that industry.

Answer 2

You either love this business or you hate it. I see alot of people get into the business expecting to get rich, that is the wrong reason. You should enjoy selling because that's what this business is...commission based selling. I personally like helping people and I don't worry about the commission. If you sell based upon need, then the income will come, along with referrals. It takes a few years to build a really big book of business where you get referrals and such. Don't get discouraged, just keep on working ethically and the business will come. I think independent agents are much happier and definitely make more commission, but you have to learn somewhere. Good luck.

Answer 3

I think it's a good field cuz you can make like a lot of money. So if you don't totally hate it I think you should do it.

Answer 4

Speaking of myself, I have made a career of 25+ years in the insurance business.  It is one of the few businesses that you do not need a formal / higher education to get a start in.

If you are in the sale arena of the business, you are really in your own business and your success will depend totally upon your efforts.

There are a variety of sector and products / service to sell; ie, life, health, investment products, property & casualty, etc.  Find what interests you by calling some of the local insurance companies - they all have great training and introductory programs, and they are usually looking for eager recruits.

Not to imply that the business isn't recession proof, but virtually everyone needs insurance, in one form of another.