Insurance Agent Income Reddit
Insurance agents looking to exchange ideas and share their content whether it s for other agents or consumers.
Insurance agent income reddit. For some reason people think they can purchase insurance policies online by simply com. It s too late to change careers. Consumers looking for answers to their insurance questions without getting trolled simply by searching for posted content that might answer their questions.
Throughout the years the insurance industry has drastically changed. I ran the agency myself the first year and brought on my first agent in our second year. With a us population of 325 million it is fair to estimate there is one insurance agent for every 844 americans.
For example a captive agent could earn 10 percent commission on the sale of a p c policy while an independent agent could earn 15 percent on a comparable policy. Top myths about becoming an insurance agent. In 2016 the bureau of labor statistics found there are over 385 000 insurance agents in the united states alone with a prediction that another 45 900 will break into the market.
Insurance can be very lucrative but it does take a sales focused personality. An entry level insurance sales agent with less than 1 year experience can expect to earn an average total compensation includes tips bonus and overtime pay of 33 026 based on 298 salaries. He wanted me to buy to agency from him.
At the end of the day it is a sales job and it will take a few years to build a book of business. The average salary for a agency owner with 2 to 3 years of experience bachelor degree and 3 selected qualifications is 95 636 per year in the united states and 74 000 commission per year. Insurance is too complex.
However if you write a half million dollars in premiums during the year the difference is 25 000. I personally know many insurance salespeople and many of them are going out of business because of direct competition from internet sales among other factors. That may seem like an insignificant difference.
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