Have you considered becoming an insurance agent for health insurance? Do you know the many benefits of such a career? Get in on this!
It’s a Lucrative Business To Get Into
Competitive earnings are something often enjoyed by health and life insurance agents. The U.S. Bureau of Labor Statistics calculated the median annual wage for insurance sales agents was $59,610 in 2022. The top 10% of agents were earning more than $130,350 annually. Independent agents can also earn ongoing commissions as long as the client remains with the insurer, creating a steady and scalable income stream.
As the health insurance market expands—especially due to an aging population and evolving healthcare laws—demand for knowledgeable agents is expected to continue growing. Add-on opportunities, such as dental, vision, supplemental, and life insurance policies, can further enhance income potential.
It Allows You To Be Your Boss And Make Your Schedule
One of the top perks of becoming a health and life insurance agent is the flexibility of one’s time. Many agents work independently or with brokerages that allow them to set their hours and weekly schedule. Additionally, an office isn’t needed, so that means you can:
- Work from home or during travel
- Schedule client appointments around your life and availability
- Grow your business at your own pace and take on as much or as little as you like
These aspects attract professionals who desire a career with a work-life balance, including parents, retirees, or career changers.
According to the National Association of Benefits and Insurance Professionals (NABIP), formerly known as NAHU, the independent agent model gives professionals “the ability to build their brand, run their own business, and grow their book of clients.”
Being An Insurance Agent For Health Insurance Is Stable
The healthcare industry remains strong even in an uncertain job market, and so does the need for insurance agents. Health insurance is a product that nearly everyone needs, and life insurance is something many desire. With over 300 million people in the U.S. and the evolution of healthcare laws, the demand for guidance from licensed insurance professionals is neverending.
The Centers for Medicare & Medicaid Services (CMS) estimates that the “2023-32 average NHE growth (5.6%) is projected to outpace that of average GDP growth (4.3%), resulting in an increase in the health spending share of GDP from 17.3 percent in 2022 to 19.7 percent in 2032.”
Licensed health and life insurance agents also have the benefit of recurring income from renewals, which helps build financial stability over time.
Agents
We hope that this information on the benefits of becoming an insurance agent for health insurance was useful to you.
Empower Brokerage is committed to helping you make informed decisions about your health and financial well-being. Whether through webinar training, one-on-one calls, seminars, or marketing plans, we want you to succeed!
Call us at 888-539-1633 or leave a comment below if you have any questions.
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Griffin Miller recently joined the marketing team at Empower Brokerage in the Houston branch as a Graphic Designer. A University of Houston alumni, Griffin brings a comprehensive skill set to the role, with experience spanning digital illustration, branding design, video editing, animation, and 3D modeling.
