How to Decide on a Insurance Career
An insurance career can produce a very lucrative income, or it can be one big loss of money. It is not the right career choice for everyone and there are several things that you should consider when you are trying to decide if this is the field of business that is going to be both profitable and enjoyable for you. The following are some of the most important things that one should think about regarding becoming an insurance salesperson.
The first thing that you should realize is that an insurance career is indeed a career in sales. While you aren't selling a typical item that you would find in a store, you are selling a service that people need. Do you have the personality to sell? Charismatic people that can be convincing and excite people about even the most basic service, such as insurance is, usually do very well, as do good communicators. Friendliness and understanding are other key personality traits of the successful salesperson.
Most insurance salespeople are independent contractors, even if they work under a certain company name, which will mean that you will be working at least primarily for commission, as opposed to an hourly wage. There may be some weeks, or even months, where you make little or nothing at all. It is important that a person considering a career in sales as an independent contractor are very aware of and prepared for these times. There may also be times that you are making a small fortune and having exceptional money management skills is essential.
As an independent contractor, you are also going to be responsible for providing your own health and life insurance, as well as taking care of your own taxes. You should either use a tax specialist or be sure that you are very familiar with the tax laws and preparation methods for independent contractors both nationally and in your state. You are going to need to be organized, keeping all receipts and other paperwork in proper order. Otherwise, tax time will be a real stress for you or your preparer.
A career in insurance, or any other sales career, is not for everyone. There are some people that make a great living at it, while there are others that find themselves working more than a forty hour week with hardly any profit to show for it at all. Considering things such as your own personality, your financial state, and your skills organizationally, are very important if you are considering a career in insurance sales.
