Growth Opportunities in Insurance: What Does the Future Have in Store for You?

May 12, 2021

Insurance is one of the largest industries in the world, with a global market value greater than the GDP of most countries. It’s one of the most varied fields, too.

Perhaps you’re imagining someone sitting behind a desk all day long, doing the same tasks day after day, year after year. That couldn’t be further from the truth.

If you’re considering starting a business as an insurance agent, read on to learn why this diverse, rewarding industry might be right for you.

Benefits of Working in the Insurance Industry

Is the insurance industry growing? Yes, and it has been for decades. It’s no surprise why. As long as life contains risk, there will be a need for insurance. From health insurance to business coverage and everything in between, insurance touches just about everyone’s life at some point.

Here are just a few of the benefits of working in the insurance industry:

  • It’s easy to get started. You don’t need a four-year degree or previous experience to start a career in insurance. A high-school diploma is the only requirement. Farm Bureau’s Developing Agent Program allows you to learn the ropes of being an insurance agent without quitting your current job so you can feel confident about making the switch to the insurance industry before you take the plunge. 
  • You can earn a great living. As of February 2021, the average income for an insurance agent in the U.S. is $51,689. That’s especially impressive when you keep in mind you won’t have to take on student loans to secure a job. Farm Bureau agents are paid a commission on the products they sell, so there is no limit to how much an agent can earn. The more you sell, the more you earn — it’s as simple as that.
  • You’ll help others. Insurance professionals work with people during some of the toughest times of their lives, and that can be incredibly rewarding work.
  • You’re always learning. Training and development are vital for insurance pros. The world is always changing, and insurance changes, too. Farm Bureau provides ample support to its agents, from individual support from your agency manager to ongoing training, you’ll always have the tools you need to be successful.

What Are the Opportunities in Insurance?

An estimated 50% of the insurance workforce will retire by 2028, according to the U.S. Bureau of Labor Statistics and AARP. That means a huge surge in job openings and opportunities to grow down the road.

How Does Farm Bureau Support Growth?

Success in the insurance industry largely depends on two things: your personal goals and where you work. You can end up in a dead-end job in any industry. With the right company, though, the sky's the limit.

Here are three ways Farm Bureau supports insurance agents:

  • Ongoing development: Farm Bureau provides a wide array of learning opportunities to help you take your business to the next level.
  • Comprehensive support: From your agency manager to administrative and underwriting support, you’ll have the help you need to grow your business.
  • Recognition: Farm Bureau rewards hard work and has formal programs in place for employees to share their appreciation with one another.

Should You Start a Business in the Insurance Industry?

With stable pay, great benefits and ample room for growth, there’s a lot to love about working in insurance. If you’re looking for a change, consider starting a business in insurance. Farm Bureau is looking for motivated people who want to help protect their friends and neighbors, while making a difference in their communities. Interested? Talk with an agency manager to learn more.