Becoming a life insurance agent is a challenging path to take in life. The annual income of agents has been reported to be from $350,000 to $600,000 at some insurance providers. There is a reputation surrounding life insurance that is a generally bad reputation. Life insurance companies take your money, wait until you are dead, and then proceed to find a way to say you died that would let them completely ignore paying your family a penny. They have this reputation for a reason, as a specific form of life insurance, accidental death insurance, is known to rarely pay benefits. However, a good portion of life insurance agencies pay the benefits to the recipient when the specified person is deceased. There are a plethora of forms of life insurance, and many are very honest lines of work. Life insurance agents actually say that one of the best parts of their job is being able to give a check to a family that dearly needs it. Yes, it is unfortunate that a person has passed away. However, being able to offer assistance to grieving people can outweigh even the biggest disadvantages of the job.
However, being a life insurance agent requires a specific temperament. Even when a person needs a life insurance plan, the stigma surrounding the industry is so thick that the person is still likely to refuse such a thing. It is then the job of the life insurance agent to enlighten the person and make them a client.
Tom Brough Chicago has lived in Chicago all his life and was a licensed life insurance agent who enjoyed convincing skeptical people that they needed life insurance. Because of those successes, he has been able to help the clients’ families after they passed away.
If you are mulling over options for your career, there are several things to consider before taking the plunge as a licensed life insurance agent. It is, unfortunately, common that people, in general, consider life insurance to be a daunting subject. In fact, not many people are excited about discussing their own mortality, especially with a stranger. There are also other intimidating factors that are associated with life insurance such as not understanding how it works, the costs, the hidden taxes and let’s just face it; it is not the most exciting topic. However, the combined factors of complexity, dullness, expense, and subject matter can lead any intelligent human to overlook the critical decisions necessary to make great financial decisions. Sometimes, people do not buy enough life insurance to cover all of their needs and many of those who do buy enough make mistakes, and end up with insurance that is not beneficial.
Consumers need to consider several issues before they drift into the life insurance tides surrounding them. It may not seem like the cool investment to make at a young age but often many find themselves to be in love and with a new family within a year. Most young adults don’t even consider their options, should something happen to them. Tom Brough Chicago says that by starting young, you guarantee your insurability, provided you keep paying the premiums. If you can quantify the value of life insurance and be diligent in understanding the nuances of policies, then you can be a successful life insurance agent.
Tom Brough of Chicago is a financial expert who formed Brough Investment Advisors in 2009 after he had successfully completed a certified financial program at Northwestern University. He has been a financial advisor for many years. He has worked as a broker at several Chicago-area brokerage firms, and also as an independent broker and received a degree in finance from DePaul University.