If you are considering a career as a health insurance agent or broker, one of the early decisions you need to make is whether to be an independent agent or a captive agent. The choice is yours. There are advantages to both paths.
Captive insurance agents are usually associated with one health insurance company. It is possible that you know someone who works for State Farm, Geico, or Allstate as a captive agent. Captive insurers usually offer a base salary, benefits, and office space. You may also be able to set up your own office, subject to corporate policies.
Your employer may also provide marketing support for its insurance products and services. The carrier or agency may have already developed a marketing plan and sales promotion campaign for all affiliated agents, so you will not have to spend as much time to develop your own marketing.
The freedoms you have as an independent agent are often much greater. Independent sales reps have the flexibility to work from home, the corner coffee shop, or anywhere else they choose. Besides choosing your own work hours, you can offer coverage from multiple carriers. It is also possible for you to have more influence over the branding and marketing of your business.
Choose what’s right for you.
Regardless of whether you choose to be an independent agent or a captive agent, both career paths offer great opportunities. In addition to being able to earn a good income, you can often choose where and when to work, and you can collaborate with a variety of people.
The most important part is that you get to help your clients choose coverage that meets their individual, family, or employee’s health care needs and their budgets.
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