L&H or P&C?

[smiles76]

Hi all.

A little background about me first. I’ve graduated with a degree in Psychology and WGST as well as a minor in communications, with a desire to go into something like HR or Diversity and Equity. However I am not looking to enter into my field unless I start working on my degree.

So for now, my goal is to save money and move out within a year or so, as well as save money for a surgery I need and for getting a masters degree. That puts me around 3-4 years. So I stumbled upon insurance and decided that I would like to obtain a license. Problem is, I don’t know which license would be best for my goals.

Do I obtain a Life and Health insurance license, or a Property and Casualty license? I’d prefer to work flexible hours within my first year but I know that depends on the company. Based on your experiences and what I’ve shared, which do you think is more suitable for me?

 

[aletia]

@smiles76 L&H would be relevant experience for a future HR job (benefits related).

 

[smiles76]

@aletia oh really? how so? I thought P&C would be better for that since it involves dealing with businesses..

 

[aletia]

@smiles76 If you end up working in the benefits arm of HR, you will deal with the employee health plan and any Life insurance provided to employees (if applicable), so previous experience with health and life insurance would be a plus. P&C wouldn't be applicable to HR.

 

[foreverthankful]

@aletia I second this. MANY of my clients who are all HR professionals tell me "I don't love benefits because I just don't understand them" and I think if you had an employee benefits background, that is a MAJOR selling point to get hired in HR. Now, that assumes you LIKE benefits too.

P&C is semi set it and forget it for companies. Sure, if they have acquisitions or expand to different ventures, there will need to be more frequent conversations but I find that, at least in out firm that handles both employer health benefits and P&C that with P&C, our folks are talking to controllers and CFOs maybe twice a year unless they have major business moves or lots of claims... but our Employee Benefits folks are interacting with HR teams weekly. I know HR executives would love a candidate that knows benefits and I always joke with my boss about how much clients try and get me to join their teams and just run benefits for them.

 

[jukes]

@smiles76 That really comes down to you. Which one interests you more. You could also just get both and go from there.

Find out what the daily process is like for each because you have to love the daily aspect of it. Money as your only motivator is tough and an uphill battle.

Also you have to choose between being a captive agent and an independent agent. The flexible hours you mentioned is only really possible as an independent agent and that is much tougher than being a captive agent (working for only 1 company).

It's going to be a journey but if it's what you want to do get after it!!

 

[smiles76]

@jukes I just read that L&H is better for short term and you gain money faster, but P&C might be better for my career if I put it on my resume but also has higher risk-reward which is why I’m conflicted between the two

 

[jukes]

@smiles76 Yep. Also, the most "lucrative" would be a life insurance agent. If you become a master at selling life its probably your best bet at making a decent income. Also final expense agents tend to make good money as well. Just try and figure out which one you see yourself doing long term because its not a short term game

 

[smiles76]

@jukes yes that’s what I’ve read. and my “short term” is like I said at least 3 years so I think going into insurance in general should be okay. just not something I want as a career

 

[michaellovesjesus777]

@smiles76 Your short term goal should be obtaining your 02-15 license. That is the number to sell health insurance.. Second, your long term goal should be get contract with a company that has a robust product..

 

[oupajoe]

@smiles76 You need an agency willing to train you. Getting a license is easy. You know how to take tests.

Can you sell? And prospect? And manage a variable income? Lots of licensed people find something else to do.