The Insurance Industry is a Recession-Proof Industry

The Insurance Industry is a Recession-Proof Industry

Many industries have suffered from the economic recession like the one in 2008, but the insurance industry was one of the only ones that were not affected at all. In fact, some experts consider the insurance industry to be a recession-proof industry, as people continue to buy life insurance, health insurance, home, and auto insurance even when their financial situation has taken a turn for the worse.
This fact was proven once more during the pandemic, making the insurance industry a solid and reliable one even during the worst scenarios. As an independent agent, this can be a great time to boost your business and income, by offering clients great solutions that work with their individual situations, which usually means they keep their insurance regardless of what’s going on with the economy overall.
No matter how rough the economy, no matter what’s going on in the world at large, one thing remains true — there are always people who will need insurance solutions.

A Slow Economy Can Be Good For the Insurance Business

photo-1532619675605-1ede6c2ed2b0Many people panic when they feel an economic downturn is on its way. They worry about their financial security and wonder if there’s anything they can do to be sure that nothing happens to them or their family. The best time to get insurance is when you feel most vulnerable, like when your finances are tight. A good insurance plan or policy will provide the security and peace of mind required to keep advancing, growing, and evolving regardless of the times faced.
People need insurance. In uncertain times, insurance is a safety net for people and businesses. In uncertain times, people are grateful to have insurance to protect their most valuable assets - home, car, family, and business. This also means people need good and trustworthy independent agents. A good insurance agent they can trust during these hard times, making the insurance industry a reliable and lucrative one.

Why Becoming an Independent Insurance Agent is a Good Option

The insurance industry has proven to be both recession and pandemic proof. People need to feel safe and that they are protecting their loved ones and valuable assets. This also means that people and businesses require good insurance agents. Especially, independent agents that are committed to their client's best interests. Getting insurance from a reputable independent agent ensures you that they will work hard to find affordable coverage for you, your family, and/or your business in many different areas of insurance. Since an independent agent represents many insurance companies, they can offer options to every client that best suit their needs.  Not just a one-size-fits-all policy that captive agents offer.
As an independent insurance agent, in order to make the most of the situation we are living in today, you will need to go through the market and understand your client's needs. Personalized attention will give you the leverage required to be efficient in delivering accurate insurance solutions to your clients.
At Affordable American Insurance, we offer guidance and support for a captive insurance agent to transition to the independent world. Becoming an independent agent means that you will have access to the best insurance products providing you with a wide range of solutions from the top-rated carriers that you can offer to your clients. Contact us today and learn more.