One of the main advantages of being an insurance agent is that you can make a lot of money in the future. When you sell a policy, you get an immediate commission, and then you are paid renewal fees for that policy while it's in effect. For example, a full-life policy purchased by a 30-year-old who lives to 90 and maintains the policy all his life pays him fees for 60 years. A policy's commission percentage decreases after the first year, but you continue to earn between 5% and 10% as long as the policyholder pays your monthly premium. This is a passive income that you receive every month without even having to get out of bed.
Another advantage is that independent agents work with a variety of insurance companies to provide customers with the best coverage at the lowest prices. An independent insurance agent has access to many markets to provide customers with the policies they need. This access to options may mean lower rates, less restrictive policies, and better coverage. Independent insurance agents can often offer ways to cover potential gaps in coverage by using policies that work in conjunction with the insurance customers already have.
As an insurance agent, you may also appreciate having a cozy office where you'll even have air conditioning or heating to make your time at work as comfortable as possible. You will also become a trusted advisor over time and not just another seller. Reputable insurance companies are widely known for their ability to saturate the media with advertisements about the policies they offer.
However, there are some drawbacks to being an insurance agent. One problem is that you'll often have to sell insurance products that you don't really believe in. You may also have to work long hours to be successful, and many people don't understand what's important when it comes to insurance. In addition, when applying for jobs, it helps if you have good contacts with people who work in many different companies since they can tell you when positions are going to become vacant.
As you can see from this discussion, working as an insurance agent has its advantages and disadvantages. It can be a rewarding career if you're willing to put in the time and effort required to be successful. You can make a lot of money in the future through commissions and renewal fees, and you will become a trusted advisor over time. However, there are some drawbacks such as having to sell products that you don't believe in and working long hours.