Can you make millions in the insurance sector?

by rhosummer » Tue Apr 28, 2009 02:33 pm

I would like to get into the insurance field after my bachelors in accounting. I would like to know what my income potential could be the first if i where in a large and a hard worker. How much do insurance agents make in their first year? and how many life and health insurance policies that i could sell the first year.

Please help!

Total Comments: 37

Posted: Mon Apr 11, 2011 08:04 am Post Subject:

yeah right everything is open for possibilities.

It is possible. The thing is how are you going to make it in real? It isn't an overnight thing you have to work hard for that. Learn from the experts and read some books and know their tips.

Posted: Sat Jul 02, 2011 12:03 am Post Subject:

was 21 -24%, since health care reform 4-6%, life usaully 70% but a full year advance on the commission, this industry is great and if you are good at what you do you can make great income. I work for InSphere insurance solutions and I made the first year in commissions and bonus's around 70,000 this year I will make since health care reform prbably only 50,000. hopefully I will start recieving residual income in the next 2 yrs and get back closer to 80,000 but there is no telling with health care reform what is going to happen all I know is that I am having to totally redisign the policys that I am selling to maximize my pay at the same time take care of the customer so that they will stay on the books

Posted: Sun Mar 18, 2012 09:55 am Post Subject: brown insurance

Trick is to be energetic. I had a net income of 2.7 million last year and three years ago was working on commission making 15 - 25k a year. But then again back then I was shooting up heroin and smoking crack. Sobriety is how I made it

Posted: Tue May 08, 2012 02:15 pm Post Subject:

to the newer one. Anyone I know personally who has tried both claims the same thing as every one of the online reviewers I've read, including Amazon. That the first an example may be hands down the best! I'm at ease with my purchase, although Practical goal an enormous fan of your live workout. Seems very unorganized and nearly as when they're defining it as up as each. Which for just a

Posted: Fri Mar 08, 2013 12:01 pm Post Subject:

It's possible to make millions in just about any industry.

In regards to insurance sales you need to build and agency and get producers working under you so you can scale and grow a large book.

Posted: Sat Mar 23, 2013 03:59 pm Post Subject: insurance

I have specialized in the health insurance industry for 20 years. It has changed a lot during that period of time and you have to role with the changes to stay in it. But the bottom line is LEADS. Where do you get the LEADS. The rest is easy by comparison. However, NONE of it is easy! It you're looking for easy, move on to a regular job where you have an hourly salary, however, you really don't have a chance of making any money working for someone else.

Posted: Thu May 02, 2013 06:43 am Post Subject:

Yes insurance is such a field that you can really earn a lot of money in this and you can sell policies as many as you can there is no limit on this.

Posted: Sun Sep 13, 2015 09:14 am Post Subject: edmonton web design seo

I will surely visit back for more –Great job!

Posted: Tue Nov 03, 2015 06:44 am Post Subject: Dont Run For Success.. Work Hard.

No one can make billions in just one go. Struggle is a big hand to welcome the success. It takes time. Have some patient and start up the work with good and genuine insurance company. Otherwise, you can get the insurance from Rais Insurance as they are providing insurance services since 1982.

Posted: Sat Apr 02, 2016 05:20 pm Post Subject: The Straight Truth from a 6-figure agent of 12 years

If you're on this forum you're curious. I ended up here cos I was looking at what the net had to say about 7 figures. But listen guys. I'VE BEEN A BROKER MAKING 130% AND I DECIDED TO TAKE A HUGE PAYCUT TO JOIN 1 SNGLE CO. I started in the industry at 25 years old. It took me 1 year to make 6 figures. I have been holding steady at 140-160k a year for about all my career except my first year cos I started in April. But here is something you need to learn. MONEY should not be your purpose. Your purpose should have a vision. Working hard to make a difference. Money truly does follow. There are only 2 traits to becoming a successful agent: be coachable, and be a self-motivator. Listening is important too along with keeping sharp on everything related by attending seminars, reading.books etc because they will pay off. People always want something and they want it right away. We are conditioned to think that because of our society. I am here because I want to make a miilion a year. Everyone has 24 hrs so then why does some guy in another state make 7 times shat I make? The name of th game is sitting in font of the right people. I spent a.decade as a broker making all that money and when I joined New.York Life I was quickly humbled. I learned I was basically .transactional and I did not TRULY explore all their needs AND future. Find smart people who make and surround yourself with them. This is also why I love being with 1 company. Maybe its just my office but the culture is incredible. A guy who makes less money than I do schooled me on.advanced planning life insurances uses like estate and tax related stuff. And here I am setting 6 appts a day writing 80/mo apps protection sith appta lasting 45 mins while this.guy is talking to his clients about taxation and writing 300/mo-600mo apps. The difference is he spends time building relationships and finding money. I was doing it all wrong. I was taking the transactional approach. So it's all about fact finding and doing a needs analysis. Worksheets exist everywhere. Find a good one and use it. As soon as I joined NYL I was seeing less people a week but apps were 200-300/mo. And here's the embarrassing thing: it.came from my.existing clients I.was revisiting. NEVER decide something is too.expensive based om your own thoughts. Huge mistake. Weak.agents sell on price. They don't last long. GOOD agents sell on value. Just the other day I learned a client.of minr had 250,000 sittimg in variable annuities. I didn't know.cos.I didn't ask. So I learned.she is.angry with her FP and her 70s. You better bet I'm helping her by figuring out the best product cor her based on need and age. Oh, here's another thing, money should always be viewed as.a byproduct of your service. will never be enough. When I was broke all I wanted was a.50k a year salary. I've been making 150k give or take a 15k since 26 years old. And I was not happy until I focused.on helping people. And recently asking better questions to locate money. So, I'm not offer advice on 7 figures but heres a list of what you need to do if you want to make six figures:

1. Be yourself. If you are laid back person be a laid back insurance agent.
2. Study up and read as much as you can. Knowledge truly gives you an edge. Remember I was 25 when I.started working at a brokerage with their 40s-70s. I had to level the playing field and even beat them by knowing more than them. They had life experience over me but that is.only good for small talk. Industry knowledge trumps that.
3. If you are N aggressive, pushy stereotypical bad salesman get rid of all.those traits. I never had a sales pitch. I don't even use the words."sale" or "sell" to my client. There are a lot of poorly-trained agents out there like reps from Bankers Life, American Amicable, Lincol.Heritage, and the biggest culprit American Income Life. It is such an awful thing when you meet a new prospect and tell me about a.feature they have or somethinv related that goes back to the agent lying. You guys.give career agents a.bad name.
4. Be coachable. If you dont have mentor find an agent with a reputable company and rub elbows with him or her.
5. Read sales books but put into action ONLY things that won't make you look like you are making a sale, like all those corny.sales questions. Stay away from.that.
6. Look into yourself ask yourself.what you.feel passionate abt and shat your vision is or should be? Then live and work it cos it ties into your brand and purpose. It also gives your efforts meaning and you will feel happy with your career.
7. Look the part. Yes your.looks is what they go by too. Make sure.your good, clean nails, well-groomed, well-dressed, and drive a nice car if u can afford it. If u want to write $50 a mo premiums then keep.ddiving your Corolla. If you want to ink triple.digit apps.consistently, drive a decent luxury car. U can get a nice looking Lexus.ES a.couple.years old for the same price as a brand new Toyota sedan. Just put yourself in your client' Would you take from a person dressed not so nicely who pulled up in a Kia or.would you take advice and buy from.someone who looks the part and pulled up in a nice.and shiney Cadillac.CTS? Right?
Because why? The guy in the Cadillac has more to lose.
8. Ask.for referrals. There are many clever ways to do it. I have th prefect one that was.taught by a Managing Partner at NYL and it was so clever I felt like I shouldve written him a.check for it.( I am not dumb, I am not revealing all my trade.secrets lol)
9. Treat every customer like your parents. Clients arent dumnlb they can sniff out a salesman and someome genuinely helping.
10. Always tell the truth. Never overpromise and under-deliver.
Clients.will.always respect the.straight truth. Disappointment.happens.because of expectations. Don't kill.the.relationship by doing things like giving.someome Super Preferred rates.
11. You know why most agents fail let alone make 6 figures? They are lazy and/or they don't know how.valuable time is. Manage it well. Only do tasks that lsad to making money. Delegate small.$ stuff to someond else
12. There's a few more but if you.focus.and put.into.actiom those things I mentioned well on your way to making 6 figures.

The reason I am.willing to.offer os because.I habe a bad stifma.attached to them. Follow along with and work.hard o restore th public's image of am insurance agent. And if you.make 6 figures.which u will, I' as you are of yourself.

Feel free to contact me. I am not selfish
I'll help. (717).471-9098

Good.luck ro you.all

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