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Yes, a person can earn a good living by selling life insurance. But it depends on the agent; how smart he/she wants to work; how many sales per week; average size of sale, etc.



This would also depend on the type of agent contract you have; agent, general agent, captive agent, etc.



If you are a general agent, you can have the company appoint agents to sell insurance under your supervision. If you are an agent, you just sell, and manage your own time. If you are a captive agent, the insurance company will not allow you to be licensed with any other.



Exampe: (this is a basic way of figuring)



Let's say that you are an independent agent, and have an 80% contract, and you want to earn $40,000 your first year. Your advance will be about 60% on new business. If you place $104,167 of annualized premium and have an 80% persistency rate: (There are contracts with higher commission rates, but using this as an illustration))



$104,167 annualized premium X .80 persistency = $83,333

$83,333 net premium X .80 = $66,666 annual commission

$66,666 annualized commission X .60 adv. = $39,999.60



Beginning the 10th month of production, the balance of First Year Commission will begin to be paidas earned, but don't count that in your goal and it will be "extra" when you receive it.



To write and keep $104,167 by the end of your first year, you must figure how much you need to write per week. You will need to place about $2170 in annualized premium per week.



$104,167 / 48 = $2,170.15 X .80 = $1,736.12

$1,736.12 X .80 = $1,388.90 X .60 = $833.34

$833.34 X 48 = $40,000.32



How many sales will it take to do that? It depends on how much your average sale is.



4 sales per week: $2,170.15 / 4 = $542.54 per sale



How many contacts will you have to make in order to accomplish the above?



Example on average:



15 contacts = 5 appointments = 3 interviews = 1 sale

(some sales may take a two-interview process.)



If you do this consistently, your pay WILL be more than the above illustration, and WILL increase EVERY YEAR.



These figures can be achieved if a solid sales presentation is used, such as Financial Need Annalysis (FNA).



ALWAYS, ALWAYS, ALWAYS ask for referred leads. If every client gave you 2-3 referred leads, you would never run out of people to see.



Now, if you become a multi-line agent, your income would be considerably more.



Hope this helps.



Best wishes, and God bless

yes but look for a company that gives you good training. selling insurance is different than any other sales job because you are basically selling a peice of paper. consider what type of insurance you want to sell and consider if you want to find your own people or use the people that walk in to a building (ie allstate) but it can be very challenging. be prepared financially and make a list of everyone you could sell to. look into new york life its a good place to get training

YUP



but it depends what you are asking about. P&C, life & disability, health they are each their own animal



it depends if it is something that you really believe in, which is easy to do when you truely understand how it all works.

yes...if you become a broker and sell your client's the right plan you can do ok.

Yes, but it can take a long time to build up a client list.

Don

http://mtnhealthinsurance.com