Even when times are tough and economies are slow, the travel industry still booms. When currency reduces in value, foreign currency can be more valuable there in that country. This allows tourists from other countries to start to plan trips where their money is treated best. Thatas why vacation sales is the best option for insurance agent.
It may seem crazy. You are probably saying, why sell insurance for vacations? Why not cars, or homes, or something else besides vacations? Think about this briefly. Car insurance is profitable, but only if you are the insurance company. The agents that sell the policies donat make as much as the company itself. The agent makes the sales, but only makes so much profit from the sale.
What about Insurance for homes you ask? With hurricanes hitting our coasts and tornados tearing up the mid west every year, that is another difficult area to make money. Why else do you think most people who live on the gulf coast arenat able to get flood insurance? It costs the insurance company too much in the end. That is why vacation sales is the best option for insurance agent.
The travel industry is going through a major growth period just now, with bigger profits than many other industries – and profits that are growing faster, too. There’s one big reason for this; the baby boomers are hitting retirement age.
This group has made their money and is not afraid to spend it on themselves. They want to indulge. That is why they are beginning to travel the world and visit the exotic places they once dreamed. They worked hard for their nest egg, and now they are going to take advantage of it.
At the same time, though, this is a cautious group of people. If they book a trip, they want to know they are protected if anything goes wrong. If a trip is suddenly cancelled, there’s a high risk of losing a lot of money, because most travel companies don’t refund. This is why there’s a great opportunity for insurance agents. If travelers take out an insurance policy for their trip and they have to cancel because of sudden illness or events out of their control like a hurricane, they are protected and can receive a full reimbursement, whatever the reason for cancellation.
This means that there is a lot of opportunity for an insurance agent to capitalize on this area. You can sell insurance on any trip anywhere in the world. It is the choice of the traveller to purchase insurance and for them it looks like a pretty good deal. With more and more retired people travelling, they want the security that if anything happens and they have to cancel their trip they will get their money back. In probability, though, the chances of these trips being cancelled is quite low.
There’s another advantage here for the insurance agent; making money from an affiliate opportunity. An insurance agent can team up with a travel company such as MOR vacations – or several companies – and become the person travelers are referred to if they want to purchase insurance for their trip. This means the insurance agent no longer has to search for clients to sell insurance and instead the business comes straight to them, recommended by travel companies who then also make money off an insurance sale. It isn’t for nothing that this sort of business affiliation is known as a win-win situation!
Author: Jay NaPierThis author has published 15 articles so far.