The global health insurance market is projected to hit $2.2 trillion by 2024.
While the life insurance market has seen more modest gains, the market is on the upswing, thanks in large part to emerging markets.
The insurance industry offers a wide variety of career options, many of which require only a high school education and a licensing exam to get started.
Consider these four possible life and health insurance career paths.
Actuaries predict the probabilities of events, such as accidents, or specific health outcomes, using statistical models and other actuarial tools.
The data from their work is used by insurance companies to help design policies and develop pricing guides to maximize profits and minimize risks.
Most actuarial careers require a Bachelor’s degree in math, statistics, or a related field.
Underwriters evaluate applications to determine whether the applicant is a suitable risk based on the guidelines set by their company.
They also determine what types and amounts of coverage to approve and the appropriate price to charge for the coverage.
Underwriters base their decisions on information gathered by reviewing medical records, claims history, and conducting interviews with applicants and medical providers.
Most underwriters are required to have a bachelor’s degree with coursework in math, finance, business, or economics, but some companies may allow industry experience to be substituted.
Claims adjusters work with customers and service providers to investigate and settle claims.
They are responsible for determining whether a loss is covered by the customer’s policy and how much should be paid.
Some companies require a bachelor’s degree, but some jobs are open to applicants with just a high school diploma.
Many states require claims adjusters to hold a license, which usually requires the applicant to pass an exam.
A life and health insurance exam study guide can be helpful.
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Sales professionals are usually the first point of contact for customers.
They are responsible for helping customers assess their needs, educating them about products, and helping them apply for coverage and file claims.
Because life and health insurance sales agents need to understand their products well enough to explain them to customers, many states require them to pass an exam.
If you’re considering this career, a life and health insurance exam study guide may be a good investment.
Whether you’re a whiz with numbers or working with people is your thing, there’s probably a career in life and health insurance that suits your skills.
Many skills are transferrable from one insurance career to another, making it possible to start on one career path and switch to another.