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Work from Home Opportunities in
Insurance - Is It Really for You?
Most people think of insurance agents
as individuals who MUST travel from one
place to another in order to sell
insurance policies. But that was before
the advent of the Internet. Nowadays, you
can work from home in the insurance
industry and earn a considerable amount of
money from it as well.
Key Areas for Work from Home
Opportunities in the Insurance
Industry
There are primarily three types of
insurance that you can sell from home:
Life, Health, or Medical Insurance -
You're basically selling insurance for
future payments for health and medical
costs.
Car Insurance - As the name
already suggests, you're selling insurance
for automobiles. Car insurance provides
car owners protection in cases of natural
and man-made disasters.
Travel Insurance - You are
selling temporary life, health, and
medical insurance as well as protection
from all sorts of accidents for people who
are traveling abroad.
There are other types of insurance that
you can naturally sell as you work from
home in the insurance industry, but if
you're looking for a niche market and
something relatively easy to break into,
it's best that you focus on any of three
specified areas.
Are You Suitable and Qualified to
Work from Home in the Insurance
Business?
It's easy to say that you want to work
from home in the insurance business and
start dreaming about big bucks, but in
reality, there are some requirements that
you must satisfy first before you can
proceed to fantasizing about your future
income.
KNOWLEDGE - You don't have to be
a doctor to sell life insurance, but it's
infinitely preferable that you know a lot
about cars if you want to sell car
insurance and ditto for travel insurance.
You'll be better able to assuage any
concerns of your clients if you understand
what they're talking about.
If it's car insurance, for instance,
you need to be able to explain why you
can't provide basic insurance for a sport
car and persuade your client as well to
upgrade to the appropriate policy. If it's
travel insurance you're selling, you need
to explain why you're charging a lot if he
wants to fly to Afghanistan.
COMMUNICATION SKILLS
- Work from home opportunities in
the insurance business are great
essentially because they require little,
if any, financial investment from your
part. If there's something you have to
invest then it's just your voice and how
well you communicate your client. If you
don't a talent for speaking - indeed, if
you don't love talking to other people -
then selling insurance policies isn't the
right job for you.
Advantages of Working from Home
in the Insurance Industry
High Commission Fees - Although the
commission fee you can expect from selling
insurance contracts is in no way near to
the biggest bonuses in the real estate
business, they still promise more money
than you would expect from working in an
office day job.
No Boss, No Time Requirements - If you
decide to work from home in the insurance
industry, rejoice because you can finally
say goodbye to the life of an employee.
From now on, you are your own boss and you
can work only when and what time you want
to. And you don't even have to quit your
day job if you don't want to!
Social Benefits - Working in the
insurance business, whether it's from home
or in an office, always allow you to meet
different types of people and have new
friends at the same time. The various
personalities you'll come across will
easily keep your job interesting day in
and day out.
How to Prosper from Work from
Home Opportunities in the Insurance
Industry
Having a large network of contacts may
not be necessary, but it's definitely an
advantage and gives you an edge over other
insurance agents. A person with two
friends can give at least two referrals
while a person with four friends can
easily give twice as much.
Having a pleasing countenance doesn't
hurt either because most people feel more
comfortable talking to an attractive
looking person. If you've got great looks,
this is definitely one job where they'll
be to your advantage.
And lastly, if you really want to work
from home in the insurance industry and
prosper from it, you need to dedicate lots
and lots of time to it. Insurance deals
will usually require two to three meetings
before they can be successfully closed so
that means meeting with each and every
client at least twice.
Work hard, and you're sure to succeed
in this endeavor!
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More
information here about work from
home in
insurance:
Insurance for Fire Only
In this present age of disasters and unforeseen events occurring, it is important to have a good, quality insurance plan. That is why insurance companies have policies that cover car damage, property, house insurance (fire only, robbery, etc.) personal self, and even life insurance. These insurance plans usually allow the owner to be less worried and concerned about damages to the car, property, or whatever it is he insures, including his own life, since there will be just and proper compensation for damages and/or losses. .......
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07/24/2008
Glossary of Home Insurance Terms
when you apply for your Home Insurance you may encounter some of the following terms. If you are unsure of any term relating to your Home Insurance policy it is better to ask your insurer or broker for help....
All Risks- A wider form of cover than that provided by the standard Contents Section, items can be insured on a specified or unspecified basis and will include accidental loss or damage insurance away from your home.
Average Clause - Insurers insert this clause on your policy as a means of dealing with under insurance. It has the effect of reducing a claim in proportion to the amount of underinsurance.
New For Old - Most policies for Home Insurance are now arranged on a new for old basis. In simple terms your old items are replaced with new items. To secure this cover you will have to insure your contents for there full market value. There are some exceptions where cover is not on a New for Old basis, mainly clothing.
Claim - If you have insurance policy and are unlucky enough to suffer a loss, you will be entitled to make a claim for your financial loss from your insurers, providing that the policy wording covers the cause.
Cancellation Period - The Financial Services Authority require insurers to give you a statutory cooling off period in which you can cancel your policy. It is usually 14 days and most insurers will make a full refund of any insurance premiums collected. After the 14 days period, you are still free to cancel you policy and any rebate will be calculated in accordance with the insurers standard scale, which is usually published in your policy document.
Commission - This is the amount of remuneration paid by the insurer to a broker or intermediary for placing business with them.
Contract Of Insurance - This is agreement between an insurer and your self, in return for you paying a premium; the insurer will pay you compensation or a sum of money on the happening of an insured event.
Days of Grace - These are additional days of cover provided after your policy has ended. The usual amount is 14 days.
Direct Insurer - an insurance company or underwriter that will sell you insurance directly without going through a "middle man" such as a broker or Intermediary.
Endorsement - a policy endorsement alters the scope of your policy wording. It can have two effects, it can extend your cover or it can restrict your cover. It is very important to read all of your policy endorsements so as to fully understand your covers.
Excess this is the amount of money that your will have to contribute towards a claim. Some excesses are compulsory such as subsidence excess; some are voluntary where you can elect to receive a discount in return for paying the first portion of any loss.
Extended Accidental Damage - Most policies will include a certain amount of Accidental Damage cover free of charge. Under Contents Insurance Free Accidental Damage Insurance normally includes TV Videos and Sound reproducing equipment and fixed glass in furniture. Under Buildings Insurance Free Accidental Damage Insurance normally extends to breakage of baths and lavatory pans, bidets etc and fixed glass in windows and doors. Extended Accidental Damage will extend the cover to include all other items.
Fee - Brokers & Intermediaries may place fees on your policy for arranging things for you, any fees charged should be mentioned in your documents.
Indemnity - A very important Insurance principal, the insurer in granting indemnity to a client will seek to place them in the same financial position after the loss as they were in before.
No Claims Bonus - In return for not making claims under your policy, the insurer may reward you with a discount from your premiums. For each year of no claim up to usually a maximum of three or four, the insurers will provide an additional discount.
Peril - Something that happens that could lead to a claim under an insurance policy such as a Fire or Flood etc.
Premium - This is the money that you will have to pay to your insurer in return for your insurance policy, it is sometimes known as consideration.
Proximate Cause - This is the active cause of a loss that sets in motion a train of events that brings about a result without the intervention of any force started and working actively from the new and Independent source. In simple terms this means that the most recent cause of a loss is not the cause that the insurers study to see if an event is covered. They look to see the active or first cause, check that the peril is covered by a policy, and then decide if a claim is valid.
Renewal Notice - At the end of your insurance contract term the insurer will send you an invitation to renew your policy. The notice will quote the new contract price and period of insurance and advise you of any changes to the terms & conditions of your policy.
Schedule - the schedule of Insurance outlines the sums insured under your policy, and tells you the policy sections you have covered and may make reference to any endorsements applicable to your policy contract.
Subrogation - Legally this right of one person to stand in place of another and to avail himself of the rights and remedies of that other person. Usually it relates to the insurers being able to recover their losses.. more...
..... Additional Information
Here
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07/24/2008
What is Buildings and Contents Insurance?
Also referred to as Home Insurance, Homeowners Insurance or Household Insurance, they amount to the same. Quite simply they are insurance products that can be purchased from a variety of sources to cover the fabric of your home and / or your personal possessions that are kept in the home. Cover can be extended to cover items such as valuables that are temporarily removed from your home. This extension is often called “All Risks” Insurance. None of these insurances are compulsory but you may find it a condition of your mortgage that you buy at least Buildings Insurance to protect the lenders financial interest in the property. Most policies are similar in the covers they provide as mortgage lender etc have a standard set of perils that must be provided to secure a loan on the property. Probably the biggest purchase you will make in your life is that of your home. To qualify for a mortgage to purchase a property, you will need to satisfy your lender that you have a Home Insurance policy in force that confirms to their terms & conditions. Most insurers are aware of these terms & conditions and aim to make their polices compliant. There are a large number of policies on the market available from insurance companies direct, banks, building societies and via brokers who may be able to offer you more choice. more...
..... Additional Information
Here
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