If you don’t know much about the insurance industry, you might picture it as a stodgy, old-fashioned field with agents who sit behind a desk all day long, doing the same tasks over and over. That couldn’t be further from the truth.
Insurance agents have experiences as varied as the communities they serve. Agents run their own businesses, so they can decide their future. They’re free to hire the people they need to help them succeed, serve a number of clients and set their own goals.
You might find an agent sitting down with a young family to make sure they have life insurance in place to protect their future. They might be consulting with a small business owner to make sure they have the coverage they need at a price they can afford. They might be reassuring a worried homeowner that their policy covers their claim.Agents write policies on many different things such as homes, auto, lives and even some things you may not expect, like horse saddles, fine arts and jet skis.
Is selling insurance a good opportunity ? Read on to learn why becoming an insurance agent in this diverse, rewarding industry might be right for you.
Benefits of Working in the Insurance Industry
What does the future look like for insurance agents? As long as life contains risk, people will need insurance. Insurance is one of the world’s largest industries and is expected to grow at a rate of 12% a year through at least 2027. The industry is likely to keep growing for decades. From health insurance to business coverage and everything in between, insurance touches just about everyone’s life at some point.
And it’s an industry that offers a lot to both agents just starting out and seasoned professionals. Here are just a few of the benefits of working in the insurance industry:
You Don’t Need a Background in Insurance to Get Started
You don’t need a four-year degree or previous experience to start in insurance. Farm Bureau’s Developing Agent Program allows you to learn the ropes of being an insurance agent without quitting your current job, so you can feel confident about making the switch to the insurance industry before you make the commitment.
You Can Earn a Great Living
Farm Bureau agents are paid a commission on the products they sell, so there is no limit to an agent’s earning potential. The more you sell, the more you earn — it’s as simple as that. First-year Farm Bureau agents earn an average of 49% more than other insurance agents. And the top 50% of Farm Bureau agents in 2022 earned more than $150,000.
We recognize that getting your own business running isn’t easy. This is why we offer our first-year agents the chance to earn up to $41,000 in bonuses. These bonuses are earned after six months and 12 months when you achieve certain production levels. 1
You’ll Help Others
Insurance professionals work with people during some of the most challenging times of their lives, which can be incredibly rewarding. Connecting with your neighbors and community can be one of the most enriching aspects of this field.
You’re Always Learning
Training and development are vital for insurance profressionals, since our world is constantly changing. At Farm Bureau, you’ll always have the tools you need to be successful, from individual support from your District Manager to ongoing training.
What Opportunities Exist in Insurance?
Most people don’t have the time to research various types of insurance and make the best decisions about what they need. And some who have the time may not have the expertise to understand the nuances of different policies and choices. They count on insurance agents for education and guidance.
The U.S. Bureau of Labor Statistics estimates around 50,000 job openings per year through 2032. So, if you’re looking to work in a field that’s constantly growing and has plenty of room for newcomers, insurance is an option you should consider.
How Does Farm Bureau Support Growth?
Success in the insurance industry largely depends on two things: your personal goals and the company you work for. If you have the skills, drive and discipline to grow as an insurance agent, Farm Bureau can give you the support you need.
Here are three ways Farm Bureau supports insurance agents:
- Ongoing Professional Development: Farm Bureau provides a wide range of learning opportunities designed to help you take your business to the next level and continue growth over time.
- Comprehensive Support: From your District Manager to administrative and underwriting support, you’ll have help growing your business.
- Recognition: Farm Bureau rewards hard work and has programs in place for employees to share their appreciation for one another.
Should You Consider a Role in the Insurance Industry?
With rewarding pay, great benefits and plenty of room for growth, there’s a lot to love about working in insurance. If you’re looking for a change, a role in the insurance industry is a great opportunity.
Farm Bureau is looking for motivated people who want to help protect their friends and neighbors, while making a difference in their communities. Are you interested? Talk with a District Manager to learn more about your path toward a future as an insurance agent.
1For full contest details, see the Blue Vase/Heritage rules flyer. Agents must have a valid contract (active) at the time of payment for the bonus.
