Pros:
– Potential for high profits due to commissions on life insurance policies sold.
– Low barriers to; no special license or training required. – Flexibility in terms of, clients, and services offered
– Opportunity to build relationships with clients over time
– Good way to supplement income while working a regular job
Cons:
– Difficult task of finding potential buyers.
– Requires a lot of market research and analysis in order to determine the best policies for customers.
– Commission structures can be complicated and vary from carrier to carrier
.
– Can be difficult to get clients to trust you and your services
– Requires a lot of time and effort in order to build a successful business.
– Potential for high startup costs due to advertising, marketing, and other necessary expenses.
– Liability risk if policies are not chosen or explained correctly.