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The News: Thousands Turn to Life Insurance Sales, Where Jobs Are Plentiful

A lousy economy, a tough job market, and the drubbing a whole lot of people took in the stock market have combined to make selling life insurance an unlikely option for thousands of people looking for a job. The Wall Street Journal says insurance firms are "taking advantage of the weak job market to scoop up former real-estate agents, mortgage brokers, bankers and lawyers whose prospects have declined." New York Life and Northwestern Mutual, to name just two, each added several thousand agents last year.

It's not easy work. Agents talk of working from "sunup to sundown" to identify and meet prospective clients. And the rewards aren't sure. The Journal says 70 percent of agents earn less than $35,000 in their second year. Most - 80 percent - leave the field within four years. Those who make it into their fifth year can make a respectable living, somewhere between $113,000 to $134,000.

A Hot Job for Hard Times: The Life-Insurance Agent [WSJ]

San Diego County to outsource investment staff [Pensions & Investments]

Pay for CEO Of Travelers Jumped 42% [WSJ]

Regions Financial CEO Ritter Forfeits $12.3 Million [BusinessWeek]

Many Calls for Avoiding a Repeat of Bank Bailouts [NY Times]

Rival warned regulators over Lehman [FT]

JPMorgan also used accounting gimmick [FT]

Securities regulator expels group accused of Ponzi scheme [Dallas News]

AUTHORMark Feffer1 Insider Comment
  • tb
    22 March 2010

    Selling life insurance...a fate worse than death.
    Is there a "do not call" list at Northwestern Mutual?
    If so, please advise!

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