Lately, several people have asked me why I decided pursue the life insurance business considering the fact that there are already so many people doing it. After getting this question so many times, I’ve decided to finally prepare a written response.
The Market. The market for life insurance is huge. While no one likes to talk about dying, I have yet to meet someone who did not want to leave a legacy for their family, a cause they believe or just cover the cost of their own funeral so they aren’t a burden on their family. It is common knowledge that insurance is the least expensive way to accomplish these goals.
However, given this general fact, studies show that more than 68 million Americans do not have life insurance or are underinsured. I’m willing to bet this number is much higher. Furthermore what may not be so obvious is the fact that life insurance can be used for more than just a death benefit.
An insurance representative that really understands this, can position you to maximize insurance policies throughout your life. You may use insurance policies to reduce or eliminate taxes, protect assets from creditors and lawsuits, as well as to help you form your own bank.
My personality. In enjoy the insurance business because it allows me to be creative in my approach to helping others help themselves. My undergraduate degree is in business and my Masters is in Human Relations. While I kind of fell into both of these degree programs, the financial advisory business just seems to naturally fit my background and personality. I have a unique understanding of money and business, I listen well, understand how people make decisions, and I love coaching and assisting them create the results they deserve.
The lifestyle. I love the lifestyle the insurance business affords me. Why? Because it is full of choice. Moreover, since I work out of an independent agency, I have even more options and latitude. I have the flexibility to make my own schedule, work with clients I like, choose my level of income and choose the companies I represent. Best of all, I am always learning. Many major insures pay for independent reps to travel and attend trainings across the country in order to stay current. These trips are always educational and fun.