Unlock Your Earning Potential: Why Becoming an Insurance Agent is the Ultimate Side Hustle (2024)

Are you looking for a side hustle that can help you earn some extra cash? In today's world, having multiple sources of income has become a necessity. One way to achieve this is through a side hustle. Becoming an insurance agent might just be the answer you're looking for!

Here are four reasons why:

Flexibility:

One of the biggest benefits of becoming an insurance agent is the flexibility it offers. As an agent, you can work on your own schedule and from anywhere with an internet connection. This can be a huge advantage for those with other commitments such as a full-time job or family responsibilities. You can work in the evenings, on weekends, or whenever else works best for you. Plus, you don't have to worry about commuting to an office every day, which can save you time and money.

Earning potential:

Another advantage of becoming an insurance agent is the earning potential. Agents typically earn a commission on each policy they sell, so the more policies you sell, the more money you can make. Plus, many insurance companies offer bonuses or other incentives for agents who reach certain sales targets. This means that there is a lot of potential for earning a good income as an insurance agent, especially if you're good at selling and building relationships with clients.

Helping others:

As an insurance agent, you have the opportunity to help others protect their assets and financial security. You'll be able to guide your clients through the sometimes complicated process of choosing the right insurance policies, and help them understand the benefits and risks of each option. This can be a very rewarding aspect of the job, as you'll be able to see the impact of your work in the lives of your clients. Plus, you'll have the satisfaction of knowing that you're making a difference by helping people protect what matters most to them.

Personal growth:

Finally, becoming an insurance agent can also help you grow as a person. You'll learn valuable skills such as sales and communication, which can be useful in other areas of your life. Plus, you'll have the opportunity to meet new people and build your professional network. As you become more experienced, you may even have the opportunity to mentor other agents or take on leadership roles within your organization. All of these experiences can help you become a more well-rounded and confident individual, both personally and professionally.

So, how do you become an insurance agent?

There are a few different paths you can take.

Contact insurance companies and agencies directly to inquire about training opportunities.

Many companies offer training programs for new agents, which can help you get up to speed on the industry and the products you'll be selling.

Take a course or get certified in insurance sales.

There are many courses available online or in-person that can teach you the skills you need to become a successful insurance agent. You can also attend industry events and conferences to meet other agents and learn more about the industry.

Get a 2-20 license and become a subagent.

A 2-20 license is a license that allows you to sell property and casualty insurance in the state of Florida. To get a 2-20 license, you'll need to complete a pre-licensing course and pass a state exam. Once you've obtained your license, you can then become a subagent by working under a licensed insurance agency.

As a subagent, you'll have the ability to sell insurance policies and earn commissions, while also receiving support and guidance from your sponsoring agency. This can be a great way to gain experience and build your client base, while also learning from more experienced agents. Plus, as a subagent, you'll have the ability to sell a variety of insurance products, from auto and home insurance to commercial and liability insurance. Overall, getting a 2-20 license and becoming a subagent can be a great way to start your career in the insurance industry and build a successful business.

Finally, you may want to consider a franchise opportunity.

Many well-known insurance companies and agencies offer franchise opportunities for individuals who want to become agents under their brand. This can be a great option if you're looking for the backing of a well-known brand and the support of an established network.

Becoming an insurance agent can be a great side hustle for those looking to earn extra income while helping others and growing personally. With a bit of training and networking, you can start building your client base and earning commissions in no time. So why not give it a try?

Interested in becoming an insurance agent with us?

Getting appointed with Rocket MGA is a straightforward process that can open up a world of opportunities for aspiring insurance agents. Rocket MGA offers a wide range of insurance products from top-rated carriers, as well as comprehensive training and support for agents. This means that agents can offer their clients a wide range of coverage options to meet their unique needs. Additionally, Rocket MGA provides agents with cutting-edge technology and tools to streamline their workflows and increase their efficiency. Overall, Rocket MGA is a trusted partner for insurance agents who want to build successful businesses in the insurance industry.

To get appointed with Rocket MGA, simply fill out an online application form and submit it for review. Once you're approved, you'll be able to start selling insurance policies and earning commissions right away. Rocket MGA also provides ongoing training and resources to help you grow your business and increase your sales. With Rocket MGA, you'll have the support and guidance you need to build a successful career as an insurance agent.

Get appointed now: www.rocketmga.com

Unlock Your Earning Potential: Why Becoming an Insurance Agent is the Ultimate Side Hustle (2024)

FAQs

Is a life insurance agent a good side hustle? ›

As an insurance agent, you have the potential to earn a good income. Your earnings will depend on your sales skills and the type of insurance you sell. If you're able to sell insurance policies with high premiums, you can earn a significant amount of money.

Why do insurance agents make so much money? ›

Most professionals who sell insurance are paid largely on a commission basis. In fact, most agents aren't even employees of the carrier. More often than not, they're independent contractors who are compensated based on how much they sell, with higher commissions for certain types of products.

Why do people like being an insurance agent? ›

People like being insurance agents because it allows them to build relationships with clients, provide valuable protection, and earn a competitive income. Additionally, helping clients secure their financial future can be rewarding and fulfilling.

Why am I interested in working for an insurance company? ›

Despite its reputation, insurance offers a variety of rewarding aspects including helping others, job security, engaging work, transferable skills, and the opportunity to connect your career with your passions.

Do life insurance agents actually make money? ›

Commission structures vary by policy and company. But typically, life insurance agents receive as commission 60% to 80% of the premiums you pay in the first year. They collect smaller commissions in subsequent years. Added up, 5% to 10% of all the premiums you pay over the life of the policy could go to commissions.

What is the hardest part of being an insurance agent? ›

Agents and brokers who listen carefully to what their clients and prospects say will be able to earn their trust, which is the hardest part of their job.

Why do so many insurance agents quit? ›

One of the biggest reasons that insurance agents quit is the fact that they have unrealistic expectations. The insurance industry is huge, which leads many people to think they can easily make a large income by selling insurance.

What type of insurance agent makes the most money? ›

High Paying Insurance Jobs
  • Health Insurance Specialist. ...
  • Insurance Broker. ...
  • Liability Claims Representative. ...
  • Insurance Adjuster. ...
  • Insurance Manager. ...
  • Final Expense Agent. ...
  • Life Insurance Actuary. Salary range: $79,500-$98,500 per year. ...
  • Insurance Loss Control Surveyor. Salary range: $79,500-$98,500 per year.

Is it hard to make money as an insurance agent? ›

Key Takeaways

The career of a life insurance agent is lucrative but involves constant hustling, networking, and many instances of rejection before a sale is ever made. Life insurance agents might be given a small salary to get started but are otherwise primarily dependent on commissions to make a living.

Why are you passionate about insurance sales? ›

Sample Answer: I've always been interested in helping people and making sure that they are protected. Insurance is a great way to do that. I want to help people understand how insurance works and why it's important to have it.

Why do I love selling life insurance? ›

Strong earning potential

A career selling insurance can be a good way to make money. It provides many opportunities to earn a high income with strong potential for growth. Because your income will mostly come from commissions, there can be no limit to how much you earn.

What are pros and cons for an insurance agent? ›

As an independent insurance agent, you are basically your own boss. You have the freedom to decide how you want to run your business. On the flip side of that, however, you won't be given paid time off or sick days. The same goes for holidays.

How to ace an insurance interview? ›

What are the best interview preparation tips for the insurance industry?
  1. Research the company. Be the first to add your personal experience.
  2. Review your resume. ...
  3. Practice common questions. ...
  4. Prepare your own questions. ...
  5. Dress professionally. ...
  6. Be confident and courteous. ...
  7. Here's what else to consider.
Oct 11, 2023

Is insurance a good career path? ›

Is selling property and casualty insurance a good career? Yes, selling insurance can be a good career for independent workers with strong sales skills. Sales agents often earn bonuses and commission, so their income potential depends on their talent.

What is your strongest interview question? ›

When an interviewer asks this question, they're assessing how well your strengths align with the role you're seeking. This means they don't expect or want you to list everything you do well, and instead want to hear about the specific attributes or natural talents you can use to excel in the position.

Do life insurance agents make passive income? ›

First, life insurance sales jobs are abundant and easy to find. Second, commission percentages are very high compared to other insurance sales, such as health insurance. Best of all, life insurance agents get paid commission renewals for as long as a sold policy is in force. This creates a passive income stream.

Which life insurance agents make the most money? ›

Top companies for Insurance Agents in United States
  • Family First Life. 3.5 $114,181per year. 417 reviews54 salaries reported.
  • New York Life. 3.7 $80,828per year. 3,913 reviews257 salaries reported.
  • Farmers Insurance Group. 3.5 $67,888per year. ...
  • Aflac. 3.5 $64,459per year. ...
  • GEICO. 3.2 $62,402per year. ...
  • Show more companies.
Apr 22, 2024

What are the cons of being an insurance agent? ›

Cons of a career selling insurance
  • Unpredictable income. Working in a commission-based role has its drawbacks. ...
  • High-pressure work environment. Selling insurance can be stressful. ...
  • Finding new leads can be challenging. ...
  • Limited paid time off. ...
  • Experiencing a lot of rejection.
Jan 22, 2024

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