Why Become a Life Insurance Agent?

Insurance is everywhere and touches every aspect of our life. It is a safety net that allows individuals and businesses to take risks and invest in themselves. Nearly everyone buys some form of insurance. Whether you’re buying a car, travelling to another country, or have a mortgage on your house, you need insurance.

Regardless of the economy, consumers require insurance at different stages of their personal and professional lives. If you have a knack for selling and possess reasonable communication skills, insurance could be your calling. As a career choice, the Canadian insurance sector is dynamic, long-term, and lucrative.

To sell insurance products in BC, you need to get the Life Licence Qualification Program certification (LLQP), a pre-licensing training program. You must complete the harmonized LLQP Course through a Council approved course provider. Additionally, you must have a Canadian Insurance Participant Registry (CIPR) and should have completed the course before you can schedule an exam. 

For tips and more details about the LLQP exam, click here

In this blog, we will be focussing on reasons why you should think of a career in insurance.

1. Growing Demand

It is estimated that by 2022, roughly about 25,000 current insurance professionals will be retiring. This exodus will create a huge void, and the Canadian insurance industry will want to fill these projected vacancies as soon as possible. Across Canada, graduates with an LLQP certification will be strategically positioned to lap up these opportunities.   

2. Scope for growth  

If you want to expand your business and service offering, you could consider adding additional licenses such as the Canadian Securities Course (CSC), which will allow you to sell mutual funds and other securities. Alternatively, you can choose to get the Certified Financial Planner certification – the most widely recognized and accepted designation in financial planning – which will help you develop expertise in retirement, insurance, investment, tax and estate planning. As a result, not only will you be able to provide more value for your clients, you will also be able to increase your earning potential tremendously.  

3. Earn Additional Licenses

Even though you can only sell insurance in the province in which you are licensed, you can follow specific procedures to be able to widen your market. If you’re, for instance, licensed to issue insurance in BC, you may be able to apply for licenses in other provinces without having to give any additional exams. Providing a Certificate of Authority from your home province is enough to get the additional licence in most cases.

4. Impact Lives of Others

Insurance has positively impacted the lives of individuals and businesses for years. It has helped people build their personal and professional lives, minimizing financial loss and risk, supporting them in their time of need and loss.  

Becoming a life insurance agent is a great career choice, one that offers several employment opportunities and scope for professional growth and development. You will be part of the industry that has always been known for its longevity and will continue to thrive well into the future. You will have a chance to make a difference in the lives of others, giving them the comfort and security to live their best lives in a world that is rapidly changing. 

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