Why selling insurance is the best side hustle…
Updated: Apr 11, 2022
Truth be told, I am a huge fan of a good side hustle. Before Covid, mine was teaching spin and pilates classes. As with any side hustle, the best part is that you have the option to get your feet wet and try it out before you jump into the deep end. I attended spin and pilates classes all the time. I thought I could definitely be an instructor myself, I just didn't know how to get started, what it would entail, or if I would even like it. So I did a trial run and it turned out I really enjoyed it!
I find having a side gig is a great way to focus on something new and fresh. So I may be biased, but I think insurance, especially selling life insurance, is a great side hustle. You’d be selling something most people need, so you know there’s a market. You can concentrate your efforts and energy and specialize in a certain area which would help you to know the best options for each of your clients. With this side gig, you’d be able to stretch your interpersonal skills because talking about insurance can get really personal. Sometimes, conversations in insurance get pretty deep and people often ask, “What happens to my family when I'm gone? Who pays for my funeral and other expenses? Will I qualify for this insurance?” Answering questions like these require both tact and empathy, but if done correctly, you will have a client for life. Not only that, these clients who you’ve built a relationship with, and who are already confident in your abilities, will then refer you to other potential clients. It is relationship building 101.
Even if you decide to focus on another business venture or if you have another full time gig, you can always sell insurance on the side for additional income. There are plenty of agents who call after hours and on the weekends for appointments and for many working clients, that is the best time to reach them anyway. Insurance does not need to be a 9 to 5 assignment. Truthfully, it rarely is.
If you’re thinking of selling insurance as a side hustle, you would need a license in the states where you want to sell, Errors and Omission insurance to assist with liabilities, and great carriers. You would want to find ones with competitive products and pricing who have excellent track records for customer and broker services. If it gets overwhelming, you can always contact an agent like myself who can assist with contracting and training.
Have I convinced you yet? Who knows, selling insurance may be just what you’ve been looking for.