Why I don’t suggest you take insurance?
But as an insurance practitioner, I don’t recommend you to do insurance.
1. The 80/20 rule in the insurance industry
Taleb mentioned in his book “Antifragility” that it is not recommended for ordinary people to enter industries where the 80/20 rule is serious.
In an industry where the 80/20 rule is serious, 20% of the people earn 80% of the money in the industry. For example, actors, whose top traffic earns several hundred million a month, can choose scripts and get tens of millions of endorsements, but more of them are young actors who eat box lunches and make announcements in Hengdian, and may do nothing throughout their lives. For example, a painter, famous painter, sells a painting for a sky-high price, but too many people remain poor throughout their lives.
Similarly, many sales experts in the insurance industry earn millions or tens of millions per year, but most of them are agents who are struggling to make ends meet. According to statistics, the 2018 Ping An Annual Report disclosed that the average monthly income of Ping An Life Insurance agents was 6,294 yuan, an increase of only 44 yuan from 6,250 yuan in 2017. In 2019, Ping An Life Insurance agents issued an average of 1.22 orders per month. In fact, there were a large number of Some people may not be able to make one order per month. The 2018 Xinhua Insurance Annual Report disclosed that the average monthly per capita comprehensive production capacity of Xinhua agents was 4,372 yuan. Low income leads to high turnover. Data shows that the agent retention rate exceeds 50% in the first year.
In other industries, such as teachers, the income gap between senior teachers and ordinary teachers is only 20%, but in insurance companies, top salespeople earn tens of millions a year, while newcomers at the bottom earn 0 every month.
That’s why Taleb said, I don’t recommend ordinary people to join industries where the 28/20 rule is serious, because you either have to do your best or struggle to make ends meet. For ordinary people, this is a bit cruel and even a waste of time.
2. Be responsible for yourself and avoid detours in your life.
Insurance is an industry that can be easily entered or left. It seems that there are no barriers to entry, and there is no loss if you do not do well. But in fact, as an insurance practitioner, in addition to learning a lot of product knowledge and professional skills, you also need to have knowledge and skills in medicine, law, economics and finance, sociology, psychology, marketing, etc. It can be said that the insurance industry is It is an industry of lifelong learning. To use a joke, I didn’t study so seriously for the college entrance examination. However, if you don’t advance in the insurance industry, you will retreat. You can only continue to learn and improve, and finally realize it through actions. These are investments because they are our most precious time!
We cannot guarantee that every step we take in life is the right one, but we should try our best to avoid detours. If it is something that we are not confident we can do well, don’t try it.
3. Be responsible for others, a trust is a responsibility
A client told me that her relative bought insurance and paid for it, but soon after the relative stopped buying insurance, she felt this was a very bad feeling. I wonder if you have had similar experiences?
I believe that for every insurance practitioner, it is very happy to sign in. Many times it is not because of the commission, but more because of the trust of others, some from acquaintances and some from strangers. This is all support. Motivation for us to keep going. But when encountering difficulties and wanting to give up, some people can continue to persevere, while others choose to give up. This is not about moral kidnapping, but a comparison of hearts. That kind of recognition and trust is really hard to come by. I think most insurance practitioners also feel very sad when they give up, because they know that they have betrayed that trust… If you don’t want to To face these situations, don’t try.
Therefore, no matter if your insurance friends tell you that insurance is so good or so, and you have not thought clearly about the above issues, do not start; if you have thought clearly, just start boldly!
The insurance industry does not look at qualifications or background. Even if there are many good resources or outstanding abilities, if there is no determination to take root, no perseverance, and no persistent actions, it will just be a fleeting meteor. . When you come to a new field, you need to settle down for 3 years. After spending 10,000 hours, you will become an expert in this industry, and then you can realize more of your life dreams step by step.
