Are you looking for a new career opportunity? Then look no further than the insurance and financial services industry. These careers are booming, and it’s not hard to see why. Here are eight reasons to consider a career in insurance and financial services.
The industry is growing.
According to the Bureau of Labor Statistics, employment for personal financial advisors is expected to grow by 15 percent between 2016 and 2026. Employment for insurance agents is expected to grow by 10 percent. Compared to the average growth rate for all jobs – which is only 7 percent – this is impressive.
The salary is attractive.
The median annual pay for a personal financial advisor was $90,530 in 2016, according to the Bureau of Labor Statistics, and the median annual pay for an insurance agent was $49,990. Personal financial advisors often have a bachelor’s degree, but insurance agents are typically fine with a high school diploma.
The position is flexible.
Many insurance agents enjoy a great degree of flexibility in their schedule. For anyone with family responsibilities or other activities that require some of their time, this is a great perk.
People want financial help.
Being a financial advisor or insurance agent isn’t just about earning a nice paycheck. It’s also about helping other people. People need financial advice, and many of them still prefer to get it from a human and not a robot. In fact, a poll conducted by LendEDU found that millennials are more likely to use and trust human advisors compared to robo-advisors.
Insurance offers important protection.
The average person might not know much about the difference between various life insurance policies or health insurance options. They might not even be aware that certain insurance products exist. This doesn’t mean that they don’t need insurance, however. A knowledgeable insurance agent can help people get important protection.
A retirement crisis is looming.
The U.S. Government Accountability Office has found that more than half of households aged 55 or older have no retirement savings. This means that people need retirement planning advice now more than ever.
Health care costs are rising.
The retirement crisis isn’t the only problem facing the average American family. Rising health care costs are putting a major dent in people’s budgets. This makes getting the right health insurance policy extremely important, and a good insurance agent can help.
The senior population is growing.
The number of people aged 65 or older is growing fast. In 2012, there were 43.1 million seniors in the United States. By 2050, this number is expected to reach 83.7 million. This is increasing the need for financial and insurance products that cater to seniors, including Medicare Advantage. Once again, knowledgeable insurance agents are needed to help people obtain the right policies.
Are you interested in launching a career in the financial and insurance industries? PTT can help you. Click here to learn more.
