Choose selling Insurance over other work from home options?

Selling insurance from home is rapidly emerging as one of the most lucrative careers in recent times. The most important factors contributing to this growth has been the increased awareness among people about the benefits of having health insurance and the increased penetration of internet services to even the remotest parts of the country. 

That being said, there are certain aspects of the business that make it even more lucrative when compared to other work from home career options and we present them here for your consideration.

1. No Need To Create Products

Work from home options like blogging, event managing, creating online courses, freelance programming, etc., require you to create products for your consumer. You need to consistently come up with new ideas to gain more consumers. Health Insurance products, on the other hand, are created by insurance companies and all you need to do is understand them and channel them to your clients.

2. Zero Investment Required

If you have the license to sell health insurance then there’s no other cost involved in the business. You do not need to pay recurring fees to anyone, you don’t need to purchase products and sell them with increased profit margins, or even have an inventory or warehouse to store the products. There’s literally no payment required at your end to sell insurance. 

3. The Commissions Are Impressive

Insurance commissions can range from 15-40% of the premium based on the tenure and risk factors involved in the policy. This means that you stand to make great profits simply by generating leads and making a sale. Furthermore, since insurance policies are renewed every year, and you receive a commission on renewals too, you earn multiple times through every sale.

4. The Network Effect

Referrals are an important aspect of this business. Your one satisfied client can refer you to multiple other contacts. In time, this helps you create a strong network of referrals, reducing your own efforts in generating leads. The growth in this field is exponential if you have mastered your own marketing skills.

5. The Insurance Market Is Expanding

The health Insurance sector in India is still maturing. A large section of the country does not have health insurance but they do have internet accessibility. And health insurance is a necessary product that people will need at one point or another. This means that you have a product that is essential in nature in a market waiting to be tapped. A golden opportunity, to say the least.

6. Reach Out To Businesses

There are a number of small and medium businesses emerging in the market that can have anywhere between 10-100 employees. These businesses are easier to access and they would also look for great insurance options for their employees. Selling insurance to even, say 10, of these companies would have an instant impact on your growth. There are, in fact, very few work from home businesses that can boast of such a growth in their field.

7. The Business Is Recession-Proof

Health Insurance is independent of economic swings. It is a necessity that people invest in. So, even when the economic conditions are bad, your business does not stand to suffer greatly, keeping your income consistent and intact.

While some of the benefits mentioned above can be found in some industries, the combined list of benefits is unique to the health insurance sector. This is what makes selling health insurance from home a much better career option than any other work from home alternatives.

Photo by Jonas Leupe on Unsplash.