Why Senior Citizens Should Consider Becoming Insurance Agents

Senior citizens can offer a wealth of experience and knowledge that they have acquired over long careers. This advice on life and business can be invaluable to others in helping them tackle problems. It can also be financially beneficial to the senior citizens themselves. Becoming an insurance agent can be one avenue to make use of your knowledge and wisdom to thrive even after retirement. It can also be a great way to overcome the boredom and monotony of life after retirement. Here are a few reasons why I believe senior citizens should become insurance agents:

A Fresh Purpose

Life after retirement can sometimes feel a little aimless and dull. But as an insurance agent with a desire to do good for people, you can get a renewed sense of purpose. Remember the movie “The Intern”? Robert De Niro’s character was so bored of retirement that he applied to be an intern at Anne Hathaway’s company. He wanted to keep learning and develop himself. In the same way, you can find fulfillment as a general insurance agent, and stay active at the same time.

Flexibility and control over your schedule

As a senior, you want to work and stay active, but you also need the flexibility to be able to work and rest as per your convenience. Becoming an insurance agent allows you to do just that. It's like being your own boss. Let me rephrase that. You are your own boss. You decide when and where you work, which means you can work part-time and still enjoy your well-deserved leisure time.

Boost your active and passive income

While you may have planned well for retirement (which will allow you the flexibility I talked about earlier), an extra income stream is always welcome. By working even part-time as an insurance agent, you can earn a reasonable monthly income of around ₹20,000 to ₹30,000. If you are particularly zealous and choose to work full time, your earnings could be significantly higher. As an insurance agent, you earn a commission not only when a customer buys a policy through you, but also when they renew their policy. So you’re not only boosting your active income, you’re also creating a passive income stream which can be very lucrative.

Make a difference in your community

When you're an insurance agent, you're not just working for yourself. You're contributing to the well-being of your community. You're helping people sleep better at night, knowing they're financially protected from unforeseen circumstances. Now, you might be thinking, "But I'm not a salesperson!" That's okay! Being an insurance agent isn't about selling anything; it's about helping people. You're there to guide, educate, and provide solutions to people that will help them solve their problems. Your needs are not germane to the issue.

Provide Guidance and Advice

Imagine being the person that people turn to for advice and guidance. While it is an honor, it is also a major responsibility. People are relying on you to guide and help them solve a problem. And it is likely that the problem is a significant one, otherwise they probably wouldn’t need insurance against it. As an insurance agent, this is a common occurrence. It is also where you can truly shine. Since you are a senior citizen, your advice will be usually backed by experience and hence is more valuable to your audience. This is where the advice you can provide can truly be of help to others. Coming back to my example of “The Intern” (you must watch that movie if you haven’t), Robert De Niro soon wins the confidence of his colleagues, not only by being friendly and approachable, but also offering genuine advice that helps people. This gets him into the good books of Anne Hathaway herself. In much the same way, as an insurance agent, you can win the confidence of your customers by offering genuine advice and help where required.

Wrapping Up

Remember, it’s never too late to start something new. You can learn anything at any time if you are interested. Being an insurance agent is a great opportunity to keep learning, stay connected and, most importantly, make a key contribution to people’s lives. But remember, if you want to truly fulfill your potential in terms of reaching a wider audience, maximizing your learnings as well as your earnings, it is important to choose the right insurance company to partner with. If you are considering this career path, I can personally recommend that you join Bajaj Allianz as an Agent. With the training that you will receive at the Career Agent Academy, combined with the on-going support and mentorship from experts, you’ll be well on your way to fulfilling your career goals post retirement.   *Standard T&C Apply Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.