Think You Want to be an Insurance Broker?

Updated: May 16, 2018



If you wish to venture into the industry, you must be patient and dedicated. If you are, good things will come.

In the business world, there are employers and employees. Due to the various challenges faced by entrepreneurs or self-employed individuals, they can often be portrayed in a bad light and the negative side of self-employment, blown out of proportion. Thankfully however, we live in a world of opposites where good and bad aspects of something can exist in one shell. There are various benefits of being self-employed, and independent insurance brokers are a good example of self-employed individuals who can reap massive rewards. Insurance brokers are tasked with the responsibility of assisting clients with their insurance policies and helping them pick the one that meets their or their employee's specific requirements.


A few advantages of being a self-employed as an independent insurance broker include;


• Freedom

You have the ability to select the type of clients you wish to work with as well as the lines you offer. This is different from working with a brokering agency where clients and territories may be assigned to you.


• Better Than Average Pay

As an insurance broker, you have a high potential for good pay. Depending on the services you infer and the type of clients you work with, you can receive steady commissions which will eventually lead to a regular residual income and receiving a paycheck even on weeks you don't personally produce. CompMed Rx has an associate broker program that allows agents to build a good residual income while providing their customers with products and services that they need in today's healthcare market.


• Job Security

As a self-employed broker, you do not have to worry about ever being laid off since there will always be a need for insurance brokers. With time, you will become even more successful in the industry and primarily working off of referrals.


Conclusion

Self-employment is not all it is said to be, and the various benefits of being an insurance broker can attest to this fact. Like many things that pay large dividends, If you wish to venture into the industry, you must be patient and dedicated. If you are, good things will come.

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