Wednesday, February 22, 2012
Work at Home in the Insurance Agency Business
The insurance business in our nation is a trillion dollar industry and many home based businesses can get a large piece of that pie. Home insurance companies used to be defined as a door to door insurance salesman. Things have certainly changed and work at home in the insurance agency business can be a number of different doors to open for a lot of home based financiers.
The insurance industry employs approximately 2 ½ million people. This doesn’t account for the thousands of folks that have found their niche in the industry in the work from home business. As our population grows and lives longer the insurance industry grows also. For those that choose to work in the insurance area this means working for organizations, individuals and companies that protect people from financial loss.
The Bureau of Labor Statistics has advised that jobs in the insurance industry is growing and will continue to do so at a rate much faster than all other occupations. This rapid growth rate is expected to continue for at least the next decade. Those home based businesses thinking of getting into the insurance business now is a great time to do so.
This is a large overview of the insurance agency. There are a an enormous number of work at home jobs that can be obtained in all of these three major categories;
• Life insurance
• Property and casualty insurance
• Health insurance
Many will assume that working in the insurance industry means aggressively selling insurance. Though, sales are one avenue of insurance it certainly is not the only one you can pursue in the industry. There is a number of other careers in the insurance business that doesn’t involve selling insurance that are rewarding both financially and professionally for a number of people that have chosen this route.
Some of the different career opportunities in the insurance field include positions in the areas of actuary, agents, claim adjusters, service reps, loss control specialists, underwriters and many more.
Salaries in insurance can vary quite a bit depending on what area you find your home business based in. for an example, actuaries start their earnings at $31,000 and can comfortably earn as high as $66,000. Insurance agents don’t earn as well. An insurance agent’s income is based a lot on commissions for most business opportunities. This means they will generally have a base rate that is extremely low. The base rate of pay may be as low as just under $20,000. However, with great commissions there is no limitation on the amount of earnings that agents can see in their pocket.
If you have an interest in working from home in the insurance industry this may be a great business plan for a number of reasons. In a market where the growth of jobs is proposed to continue exponentially over the next ten years by as much as 20% to 40%, according to the Bureau of Labor Statistics, this is an ideal business to make a mark in for financial freedom and independence as a business entrepreneur.