Insurance consultants help clients make key decisions on their insurance policies, from choosing a plan to claiming benefits. Most insurance consultant general - health - life jobs are offered by insurance and financial companies, but many choose to work independently on the side to get better income opportunities. The job offers good travel opportunities for meeting with clients, as with most financial planning, insurance, and superannuation jobs.
Insurance consultants make an average of $68,000 per year, assuming a full-time position with a mid-size company. Since these jobs can be done independently, many consultants choose to offer freelance services on the side. A successful practice can earn you over $100,000 annually in total.
Job description
While advising clients is the core of most insurance consultant jobs, many of them involve several other tasks as well. This is especially true of institutional consultants who work for large firms. Here are some of the things you should expect to do on the job:
- Analyzing each client's financial situation and needs, and using the information to draw up a list of insurance options
- Discussing with clients their current options and helping them make the most viable decisions
- Sharing practical advice and market intelligence to consumers to protect their financial standing
- Creating good client relationships and maintaining existing ones by monitoring communications on a regular basis
- Providing regular client reports to the management to help them assess overall customer service
- Receiving and responding to client inquiries via phone, fax, or email
- Staying up to date with industry trends, policies, and regulations to make sure all services meet industry standards
Qualifications
The minimum qualification for most insurance consultant general - health - life jobs is a relevant bachelor's degree. Business, finance, economics, and accounting are some of the most preferred majors. Further education is usually not required, although it will come in handy when you're up for promotion in the future. It is usually possible to pursue further studies (such as an MBA) while taking lower level positions and working your way up the ranks. Experience is usually needed as well; most positions require at least one year in similar financial planning, insurance, and superannuation jobs.
