It’s all too easy to forget the past in times when change comes so rapidly. It used to be that most people worked their entire lives with the same company. These companies were like large families. Once there were very few ways to minimize risk. We diversify to minimize risk in modern times. We do it in our investment portfolios. We do it in our personal lives by becoming educated and skilled in different areas.

Risky Business

We’ve entered the era of the “gig” economy. According to NLS statistics, the average person may now change jobs some 12 times in a lifetime. The days of lifelong employment are largely over. One consequence of these many changes is less personal security. The ability to adapt to changing circumstances has become increasingly important. Education is one way to diversify in your professional life and decrease risk. Education and diversification offer great opportunities to increase skills and value. They help you become more marketable in a rapidly changing economy. 

Sharing the Risk

The past was definitely not always rosy. Hundreds of years ago, debtors could be thrown in prison and worse if disaster struck. That’s not usually true these days, although risks remain. Insurance was an important development. It shifted risk from individuals and families to large companies. By paying small amounts, individuals avoided large risks. That’s why insurance remains so important in modern society. By limiting risk, it encouraged the widespread development of business. The first true insurance contract likely occurred in Genoa, Italy, in 1347. After the Great Fire of London destroyed 13,000 homes in 1666, property insurance began to be seen as a necessity. Life insurance developed in the 18th century.

Minimizing Risk

Employment in the insurance industry is another great way to minimize risk. Insurance agents fulfill important needs. The insurance industry is a vital part of the business economy. It’s an industry that combines community service with ensuring economic prosperity. It’s an industry that promotes independence and individual effort. And, unlike many other potentially highly lucrative professions it does not require years of college study and degrees. Passing a state-required life and health insurance exam can open the door to high earnings and service to the community almost immediately. The life and health insurance exam does take some serious study and effort. Applicants must demonstrate knowledge of life and health insurance basics, insurance regulation, disability insurance, group health insurance, federal tax implications of these coverages, and more. The good news is there are reliable, reputable companies that can help you pass the life and health insurance exam and achieve your goals!