Learn why women make the best financial consultants or financial advisors, how to become an insurance agent and find work-from-home life insurance jobs in India.
With the COVID-19 coronavirus pandemic, many people are realizing the value of having life insurance policies. If you’re looking to change careers or get a new job, one of the hottest and most lucrative careers right now is a financial consultants’ or insurance agent job.
Many people typically think of life insurance jobs as boring desk jobs involving lots of filing, paperwork, or being a call-centre representative. Yes, you may have to deal with paperwork but there’s a lot more to a career in the insurance sector than that.
And yes, WFH insurance jobs, part-time insurance jobs, or online insurance jobs from home may not seem like the most exciting job available. But you’d be surprised to learn that these insurance agent jobs can actually be a lot more rewarding and less dreary than expected.
In this article, you’ll learn why insurance careers can be an attractive option for women in India, how to become an insurance agent or financial consultant, how to join insurance companies recruiting for insurance company jobs, and how to sell insurance online from home.
4 Undeniable Benefits Of Insurance Agent Jobs
Career opportunities as an insurance agent in the insurance sector can be an excellent option for women who want to work from home.
Here are 4 reasons why choosing an insurance career path and getting a financial consultants’ job in the insurance sector can be an attractive option for you.
1. Insurance companies offer endless career development opportunities
The insurance agent or financial consultants’ career allows for plenty of advancement and career development. There’s lots of room to grow, thanks to both an abundance of life insurance jobs and specializations you can pursue as well as an ageing workforce.
Insurance employment opportunities often come with regular professional reviews and promotion opportunities. In terms of insurance agent career paths, there are actually many interesting insurance career opportunities to pursue within the industry, each of which draws on different skills and meets various interests.
Nor do you need to feel chained to your desk as many of these financial consultants’ or insurance company jobs can be part-time insurance jobs and work-from-home life insurance jobs.
List Of Careers In Insurance
Here’s a non-exhaustive list of insurance company careers in the insurance world here, I hope this insurance jobs list of the best insurance job positions inspires you to consider a career in the insurance sector.
- Insurance broker jobs
- Insurance sales jobs
- Insurance field jobs
- Insurance jobs from home
- Insurance underwriter jobs
- Insurance investigator jobs
- Insurance inspector jobs
- Insurance assessor jobs
- Insurance compliance jobs
- Insurance claims jobs
- Insurance surveyor jobs
- Insurance adjuster jobs
- Insurance accounting jobs
- Insurance operations jobs
- Insurance trainer jobs
- Insurance consultant jobs
- Health insurance jobs
- Medical insurance jobs
- Insurance nurse jobs
- Life insurance jobs
- Car, auto or motor insurance jobs
- Property and casualty insurance jobs
- Marine insurance jobs
- Crop insurance jobs
- Commercial insurance jobs
- Insurance marketing jobs
- Insurance manager jobs
- Loss control and prevention
- HR jobs in insurance companies
- Life insurance recruitment
- Insurance agent recruitment
- Insurance headhunters
- Insurance company recruitment
- Insurance IT jobs in insurance companies
- Customer service representative
Although these insurance job titles and career paths are intertwined, you can head down any of these specialized paths based on your talents and desires, and build your insurance career in that specialization.
Furthermore, there are certain markets and demographics that are not sufficiently served by insurance companies. So, in the insurance industry, there are always new markets to access.
The ageing workforce is also creating many opportunities in the insurance industry, which makes endless career growth possible for good financial consultants and insurance agents.
So, if you want to join the financial services industry and learn from the wealth of experience and specialized knowledge of these seasoned financial consultants this is the perfect time to do it.
Surabhi Bhatnagar sold the highest number of policies – 1,620 – in an eight-month period in association with Shriram Life Insurance. She also topped the scene yet again in one fiscal, mopping up one of the highest first premium income of Rs 2.48 crore among the insurance agents.
As a 12th Std pass woman with a hidden passion for achieving great things in life and reaching the pinnacle of success, Surabhi quotes her success mantra as “Always believe in yourself and never look back.”
She is a bold and ethical person who tapped into her inner strength to secure families with life insurance and in earning more than expected extra income. Relying on the support from the Shriram Life Insurance Company team, Surabhi’s dream of providing for her child’s future and having a house of her own has come true.
Insurance Agent Vs Financial Consultants Vs Financial Advisor
The basic difference between insurance brokers (or insurance agents) and financial consultants (or financial advisors) is that insurance agents provide customers with specific insurance solutions based on their insurance requirements. So what is a financial consultant?
Financial consultants study the client’s financial status and the life stage they’re in and suggest financial products and solutions based on their disposable income so that the insurance premium does not become an economic burden in the long run.
Also called financial advisory consultants, personal financial consultants or independent financial consultants, they offer their clients advice on a number of financial decisions.
These financial advisor functions may include tax planning consultant, retirement financial planning consultant, wealth management consultant, as well as selling insurance products to help clients achieve their financial objectives.
Myth: Financial Consultants Need To Be Graduates
One of the myths of the insurance industry is that you need a Bachelor’s degree to get insurance jobs. This is not true! Nor do you need a degree to know how to sell insurance as anyone can learn how to sell life insurance successfully.
Whether you call yourself a financial consultant or insurance agent, the basic educational qualification required of anyone desirous of getting WFH insurance jobs is just a 10th pass certificate.
Financial consultants or insurance agents may either be self-employed, part-time, work-from-home or work full-time for financial institutions or financial consulting firms. A financial consultant career can be one of the best career options after 10th for girls in India.
Swathi, aged 35 years, was married nine years ago and lives in Karnataka. Her Bachelor of Arts degree couldn’t help her get a job with flexible work hours that would help her supplement the family income and afford her the time to manage the household as well.
Swathi says that she makes Rs. 25,000 on average in commission every month selling insurance at Shriram Life Insurance. That’s a considerable sum for a village homemaker seeking extra family income. “Since there are not too many jobs in my village, insurance has given me a big break,” she says.
She adds saying that the opening up of the sector for women has helped break the gender barrier in a profession that was dominated by men. People trust us as we understand the importance of family responsibilities. We are hard-working, good at sales talk and persuasive skills.
2. There will always be a demand for insurance products
There is one undeniable fact about the insurance industry – there is always a need for people and companies to have insurance, so an insurance agent will always have the potential to earn more.
People will always require life insurance and life insurance agents because there will always be risks and, therefore, a need to reduce that risk. That’s why there will always be work for those in the insurance industry.
In fact, in the United States, insurance companies have existed since the middle of the 18th century, and this industry has only become more successful and stable since then.
Many businesses in the USA must actually purchase insurance products, such as workers’ compensation packages and motor vehicle liability insurance, to be able to operate.
These are often legal requirements, based on human nature’s risk averseness and desire for security, which means insurance is needed.
This just shows that the insurance industry isn’t going anywhere any time soon and there will always be a need for a skilled insurance agent and life insurance underwriting jobs.
As a woman, having a career in a stable industry is very important. Selling life insurance is also an area where women are preferred because of their unique, natural skill set.
Women tend to be more empathic and compassionate and able to relate to customers on a more personal level. This is why women should definitely consider insurance agent jobs.
With some education and training, you could be a top insurance agent and get financial consultants’ or life insurance jobs in an industry that’s stable and offers excellent benefits.
I am Vibha, brought up in a joint family of 27 members and I got married at a very young age and was looking after a family of 9 members. I never had any goal or aspirations in my life. I got married to a well-educated family.
My husband is a highly designated central government employee in railways. I realized that in our community, women had to depend on my husband’s income for every personal requirement and they didn’t have any additional income to spend on themselves.
Being liked by many of my relatives, I decided to take the initiative when a manager from Shriram Life Insurance approached me. From then onwards, I didn’t look back and moved forward to insure families.
Shriram Life Insurance not only gave me additional income, opportunity to serve society but also brought me a lot of confidence by getting regular training on life insurance plans.
I thank Shriram Life wholeheartedly as I could buy a house of my own through the extra income earned through them. I believe that hard work will always be rewarded.
3. Good compensation and benefits package
Because insurance is such a successful and lucrative industry, and the work is technical and requires skilled and educated employees, salaries in this field are usually very good, not to mention they offer great job security.
So what sort of insurance jobs salary can you expect? In India, an insurance agent salary averages around INR 220,000 per year. This may be a bit lower for entry-level insurance jobs, but keep in mind the first point about career growth and progression.
Insurance Companies Offer Excellent Benefits
Another reason insurance company careers are so desirable is because insurance companies typically offer fantastic benefits to their employees, as no one can offer a better insurance package than them. This is necessary to attract and keep top talent in this industry.
Furthermore, the insurance industry is known for supporting and funding continuing education to help its employees develop their knowledge and experience.
Many insurance companies will financially support employees who decide to further their education in an insurance-related field of study.
Because of the great payment and all of the benefits, becoming an insurance agent is the perfect WFH job for women looking to get themselves a strong head start in life and achieve financial independence.
This is a reliable industry that will pay you well and give you a strong start, especially if you’re returning to the workforce after starting a family.
I am a homemaker and my husband was working with a real estate company. When I was left alone at home after sending kids to school and my husband to the office, I wanted to utilize my time in a productive way.
Then I got introduced to Shriram Life Insurance through my cousin who was also working with them for 7 months. Within 6 months I have done the best in producing 75 NOPs (Number Of Policies) with Rs 19 Lakhs premium.
Due to my performance, I have qualified for an international trip too. I am very delighted as I have received self-recognition, economical independence and the pride of being with Shriram Life Insurance.
An Insurance Agent Earns Passive Income
Another huge benefit of insurance agent or insurance broker jobs is that it is one of the few careers that allow you to benefit from passive income as products, such as life insurance policies require a premium to be paid monthly or yearly.
This means every time you sell a life insurance policy, you continue to get paid a commission as long as your customer is paying their insurance premium.
How many jobs do you know of that can offer the benefit of a passive income and let you keep earning, even if you stop working for some reason?
Read the story of 42-year-old Aarti, from Uttar Pradesh. After completing a BA and B.Ed, Aarti served in a Zilla Parishad High school for many years. She also started an insurance agency through Shriram Life Insurance as a source of a second income.
Aarti was involved in social work at her village level and as well as in local politics. Within no time, she was able to earn the trust and confidence of villagers and earned a position in the Village Panchayat.
When her passive commission income from Shriram Life Insurance agency reached INR 2 Lakhs per annum, she decided to resign from her high school teaching job and become a full-time agent.
Now Aarti is happy that she can participate in politics, social work and gets more time to work on building her insurance income with Shriram Life Insurance Company. She frequently visits different villages to empower women and insure families under Shriram Life Insurance.
4. The immensely rewarding work of financial consultants
Working as an insurance agent and selling life insurance is essentially selling peace of mind to people. There are a lot of risks in today’s society and insurance lets people and companies focus on the important things without worrying about these risks.
When you speak to an insurance customer in their time of need and let them know they’re covered and the insurance company will help them through that event, it is the absolute best feeling in the world.
Insurance advisor jobs can become very rewarding work, especially when you have a good day. That’s why life insurance agents stay in the field, for those moments. The other benefits of financial consultants’ or insurance agent careers are just bonuses!
This is another great reason to enter the insurance industry as a woman. You get to assist people in their most vulnerable time and help them feel better.
Even though insurance companies are portrayed in a bad way in movies, they are really doing good work for people. An insurance broker can give people peace of mind, a good place to work and the luxury of not having to focus on how to manage if the worst occurs.
Although many people complain about their insurance companies, the truth of the matter is that the insurance industry gives its employees the chance to help people when they really need it.
As an insurance agent, you can work with people to secure their future and help them through what can be the worst day of their lives and make it better. You can address their questions and concerns and improve their lives.
Not many people can say that they truly make a difference in people’s lives when it matters. For all these reasons, financial consultants or insurance agent jobs in the insurance sector can be extremely rewarding both financially and emotionally.
I am Sunitha working for Anganwadi, a kind of child care centre. During my sessions with their mothers in regard to malnutrition, I realised that if families are not secured and if any eventuality occurs to the breadwinner, what would be the livelihood of the family?
I started inquiring about Life Insurance which has a suitable premium for our region. Then, I came across Shriram Life Insurance as it serves people in rural areas. I joined Shriram Life Insurance in 2015.
During the initial years itself, I could gain the trust of 125 families and got the services extended to their relatives and friends too. I would like to share that, apart from the extra income, I travel to different national and international destinations. Shriram Life Insurance has not only given me an opportunity to earn extra but also to serve society.
How To Become A Financial Consultant
If you’re looking for a full-time financial consultant job or corporate insurance jobs and become a full-time insurance company employee in an insurance company in India, you might want to get an MBA, as nearly 62% of chief executives across India’s life insurance companies are management graduates.
But you don’t need to do an online MBA to find insurance company job vacancies that offer lucrative work-from-home career opportunities in insurance for women. Nor do you need to approach insurance headhunters and insurance recruiters for job openings in the insurance sector.
There are plenty of insurance companies offering insurance industry jobs in the insurance sector for freshers or insurance trainee jobs for 10th pass undergraduates eager to become financial consultants.
So, when you want to get started in your insurance career, don’t waste time with insurance job agencies, insurance agent recruitment agencies or insurance employment agencies to find the best insurance jobs openings in insurance companies.
You don’t need to learn about insurance companies hiring practices to get easy access to the best insurance job openings in life insurance companies. Nor do you need to conduct an insurance job search on insurance job boards to find the latest insurance company jobs.
In fact, some of the best insurance company job vacancies are entry-level insurance jobs, online insurance jobs from home and work-from-home insurance jobs. The women achievers featured in our life-changing stories above are now emerging as choice hires for Shriram Life Insurance as it expands operations in the rural hinterland.
But you should know that insurance company recruitment and getting licensed financial consultant jobs is not as simple as walking in and applying for the latest insurance job vacancy in the insurance sector.
Insurance companies like Shriram Life Insurance Company require you to undergo free mandatory insurance training, which includes an easy syllabus prescribed by IRDAI, such as sales pitch, products to sell, documents required to be collected from the customer on sale and more.
To do this, you need to fill out an application and register with the Shriram Life Insurance Company, complete the Online Training and clear a simple assessment and that’s it… you’ll receive the certificate and code to become a certified financial consultant and solicit Shriram Life Insurance Products.
Whether you’re recently unemployed, or a working woman who wants to start a side-hustle or a mom who wants to get back into the workforce, you can join the Shriram Life Insurance community and learn about part-time and work-from-home financial consultant jobs.
How To Sell Insurance Online
If you’re looking for insurance sales jobs from home, you must understand that being a financial consultant or insurance agent and selling insurance is not any other sales job.
Financial consultants and insurance agents advise people to secure their future financially. It’s so much more than just selling insurance. It’s unique in its own way as you will be providing a solution to protect people’s future.
As a Life Insurance Agent, you will start a conversation that will make people think about their future and help them understand why they need to plan for the future and what they’ll get out of it. It’s quite fulfilling and rewarding to see families prosper in life with a secured future.
If you have never learned insurance selling skills, you may be thinking, “Can I sell insurance?” and wondering how to sell an insurance policy to customers. There’s no need to worry because when you become a financial consultant with Shriram Life Insurance Company (SLIC), you will get training on how to sell life insurance successfully.
Check out this live chat session with Sarah Sylvia, Manager Segment Solutions, Shriram Life Insurance on the topic, How To Work From Home & Build Identity As A Financial Consultant.
.Sarah has over 20 years of experience, including 13 years in Life Insurance Sales Training. She is a Six-Sigma Green Belt Certified in Life Insurance Quality Assurance. Being a LOMA certified, Sarah is proficient in US Insurance too.
She has been imparting insurance knowledge all over India and is now part of the Product Development team. Her impeccable communication, management of end-to-end customer relationships, and command over the subject are her natural strengths.
In another session on how to become a Financial Consultant with SLIC, she noted that women make some of the best financial advisors as they have superior social skills and the ability to empathise, which are a natural advantage for an insurance agent.
The SLIC Online Training Program will teach you insurance selling skills for soliciting Life Insurance Plans, including how to answer your prospect’s sales objections and how to sell insurance over the phone.
Whether you call yourself a financial consultant or an insurance agent, trust goes a long way in insurance sales, and so does word of mouth. Here are some life insurance marketing ideas and insurance selling tips to help you sell insurance from home.
1. Know all the facts
One myth of the insurance industry is that “the Prospect has no idea what they need.” But with so much information available online, insurance buyers today are savvy and well-informed. It’s important not to underestimate the level of exposure your prospect might have to your products.
Also, as Millenials, you can expect them to ask all possible questions based on their research before they purchase your insurance products. Hence, it’s good to be well-prepared and be ready to answer all their queries.
Chances are your prospect already knows what they want. In such cases, you should know which life insurance policy will benefit them the most and present it to them without too much pre-selling.
2. Listen more, talk less
Listening to your client is one of the most important insurance selling skills for selling life insurance. It helps you identify and understand the needs of your prospect.
Once you understand their financial concerns, you can sell a life insurance policy that meets their needs. Listening to them will help you build a relationship and give them better financial advice.
3. Highlight benefits over features
Rather than focusing on the technical aspects of an insurance policy, first, highlight how having insurance will help them in terms they can relate to.
For example, explain how the policy help will pay the bills, loans etc. Be sure to keep the lead and their needs at the centre of the conversation.
4. Don’t sell products, provide solutions
One of the most effective insurance selling techniques is to start with a conversation to understand your client and providing solutions to them. So, instead of using discounts to sell, provide a solution to your prospects.
As Life Insurance is an intangible product, it’s important to explain the need for life insurance and the problems it helps solve before you sell a life insurance policy.
When you provide a solution for securing the future of your client as per their needs, you will naturally be able to sell insurance policies.
5. Set goals with deadlines
It’s not enough to say “I will increase sales by 10%.” Instead, give yourself a set deadline “I will increase sales by 10% every month.”
You can achieve this only if you set specific goals. A goal with a deadline gives you a plan of action so that you can make progress. Also, it’s important to ensure that your goals are specific and realistic.
6. Give them your contact information
After your meeting with a prospect, they may have questions and will need a way to get in touch with you, especially when they need to use the policy.
So, whenever you meet prospects, always leave something for them to remember you by, like a visiting card or brochure. This is one of the most essential life insurance selling tips to keep in mind.
7. Ask for referrals
Trust goes a long way in insurance sales and so does word of mouth. Ask your close family and friends to refer you to other people they know who might be looking for insurance.
Don’t be shy in asking them to do this for you. After all, you should be proud of your insurance job as it involves providing financial security to people.
8. Take advantage of networking opportunities
Everything starts with a conversation that you can then nurture into a relationship. So grab every chance you get to build your network and increase your potential customers base.
Conversations and building a list of warm contacts are the key to progress in your financial consultants’ career. You’ll find some tips for building your list of warm contacts below.
How To Build A List Of Warm Contacts
A warm contact list is the list of people with whom you have or had some personal association. A former classmate, co-worker or neighbour may belong to your warm contact list.
If they introduce you to some of their contacts as a financial consultant, they can even provide useful information about the person, so you can plan your strategy on how to approach and sell your services to their referral.
Here’s who you might include in your list of warm contacts:
- Relatives and Friends
As an insurance agent, one of the best ways to sell life insurance is to start insuring your family first, and then approach your friends and relatives. You’ll often find that relatives and friends are also willing to help you by sharing referrals of other people in their network.
- Parents of kids you tutor
If you take up a financial consultants’ career while working as a tuition teacher, you have a lot of potentials to earn extra income and sell insurance from home. As a teacher, your suggestions will be highly respected when you pitch a child education plan to the parents of the kids you tutor.
- Members of your religious group, political party, club or gym
This might seem an unusual source, but people who share the same faith, beliefs, hobbies or social clique can also be an excellent source of referrals as humans are more inclined to help people we share something in common with.
- People who sell you things
You may think that your relationship with people you do business with is solely based on trading goods and services. However, people who sell you things are also great sources of information when networking.
Since these people sell their products to many different people, they may have met somebody who requires your financial services consulting.
They will also be happy to help you in selling life insurance, as they know that maintaining a good relationship with you makes you more likely to do business with them again or reciprocate by referring someone to them.
- Former classmates, colleagues or co-workers
Maintaining a good relationship with former classmates, colleagues and co-workers has more benefits than you can imagine. They may also be able to provide you with valuable information in selling life insurance to their referrals.
- Members of a professional organization
If you belong to a professional organization or networking association like BNI, you can ask them to refer members who may need an insurance policy or financial consultants’ advice. If you don’t belong to any, consider joining one since this will be beneficial to your career growth.
When creating a list of your warm contacts, these are the most important people you can include. It is even better if you contact them all so you can increase your networking options.
For more life insurance marketing ideas and insurance selling tips, join the Shriram Life Insurance community where you’ll learn how to sell insurance products with confidence and earn a good income as an insurance agent or financial consultant.
Whether you’re looking for insurance employment opportunities such as work-from-home insurance agent jobs, online insurance agent jobs, or full-time insurance office jobs, this article will open your eyes to the undeniable benefits of becoming an insurance agent.
If you want to apply for government jobs in India, these study tips for competitive exams for upcoming Govt jobs in India will help you learn how to pass the LIC and insurance exams.
In addition to the four benefits outlined above, there are countless smaller benefits to finding career opportunities in the insurance sector, such as flexibility, working in a dynamic field, and gaining real-life experiences.
It’s not every day you can find a financial consultants’ career for women that is as secure, impactful, rewarding, and lucrative as being an insurance agent or insurance broker and learning how to sell insurance policies to those who need it.
Priya Florence Shah is the Group Editor at SHEROES and author of Devi2Diva, an emotional self-care book for women.
Some information in this article was provided by Academic Writing Service.