Choosing a career can be tiring, but deciding what field you will work in for the next 30 to 40 years of your life is even harder. So, whether you’re just joining the workforce or planning a career change, the digital life insurance industry may be a viable option for you.
However, when people think of an insurance career, they usually think of being a broker or agent selling policies door-to-door or manipulating someone to invest in life insurance plans or retirement savings plans. Well, that’s wrong.
There are many jobs in the insurance industry, from underwriters, and financial insurance analysts to claims adjusters and advisors. Plus, you can choose a profile that suits your education and passion!
Insurance Sales Agent
Let’s start with the basic job that we believe insurance brokers do – selling. If you choose to be a sales representative, you will help potential individuals decide what insurance to buy and what options offer better benefits within their budget.
Sale is a huge area where you can excel and make a name for yourself. However, your insurance career does not end there.
Suppose you are working with XYZ insurance company with a monthly salary of ₹25,000. Now, this amount is your basic salary. But as an insurance sales agent, you can earn good commissions. Receive a certain percentage of policy sales as a commission. However, keep in mind that commissions are variable. They vary according to the sales figures you achieve as an insurance agent.
You often hear reports of people who have been caught attempting insurance fraud. We’re sure you read about these things now and then. As an insurance investigator, you would investigate doubtful claims and get to the bottom of such claims.
For example, a client intentionally suffered an accident to claim car insurance and make money, or forged documents that his health was bad and wanted to claim insurance money. As an insurance investigator, you must study these cases and claims in-depth and investigate whether they are honest or fraudulent.
Relationship Manager And Advisor
The most important task of bank advisors is to ensure that clients stay with the company and do not approach the company’s competition. That’s why you have to mend relationships, counsel them and keep them happy, which in turn keeps your company happy!
Frequently Asked Question
What is the fresher salary in Max Life Insurance?
The average Max Life Insurance Fresher Salary in India is ₹ 2.6 Lakhs with less than 1 year of experience. The fresher salary in Max Life Insurance India ranges between ₹ 1.8 Lakhs to ₹ 3.2 Lakhs.
Is selling insurance stressful?
According to the Financial Planning Association’s (FPA) War on Stress study, 71 percent of agents and financial advisors reported experiencing moderate or high levels of stress at work. Additionally, 28% and 44% of agents and advisors said they are more stressed than they were a year or five years ago, respectively.
Is insurance a demanding job?
It’s hard work, and many people who “try” (as opposed to “commit”) tend to burn out sooner or later. You’ll hear “no” more often than “yes,” so you need thick skin.
Is insurance a safe career?
During a recession, insurance is more stable than other industries. This is because regardless of the economy, people and businesses always need protection against risks. Employment with an insurance company or independent agency offers more job security than other industries.