Can You Really Make Money Selling Life Insurance?
Posted February 27, 2010 – 10:17 pm in: structured settlements FAQWith all of the 100% commission insurance jobs available, is there really money to be made?
Tags: Insurance, Life, Make, Money, Really, Selling
5 Comments
Yes and depending on which company you work for, you will learn all kinds of deceptive words to trick your clients into buying it. It may seem unethical to you, but that’s how majority of life insurance agents work. If you want to make income, you will do whatever is necessary to survive.
I, on the other hand, prefer to educate the client about life insurance so they can make an inform decision on what is better for them. Many agents don’t like how I do things, but I prefer to build a long lasting relationship with my clients than to lie to them about how their life insurance really works.
Anyway, I made money from selling life insurance and there’s only one type of life insurance I sell, which is term insurance. With term insurance, premiums are low, so clients can buy more coverage for less money. Since premiums are low on term insurance, many agents don’t want to sell it. An average transaction for me for each term insurance policy is around $1000/year in premiums. I earn 95% commissions from it, so I get around $950. I also do other things such as investments, debt elimination programs, home loans, auto & homeowner’s insurance, prepaid legal, and 401(k). With investments, I get paid every month on it. I think the biggest portion of my income comes from mortgages and debt elimination programs.
The short answer is yes.
The longer answer is yes you can, but you must have great sales skills and the drive and determination to succeed. It is important that you start with a reputable firm and all ready have a solid natural market. If you don’t, then you are going to have a tough time.
People are not going to beat down your door and immediately call you because they hear you are an insurance agent. First thing people will likely say is “I all ready have insurance through work” or “I all ready have that taken care of.” You must develop the ability to get in front of people and have the skill of talking with people about something most people don’t want to think about; their death.
It is possible to make a very good living for yourself selling life insurance. But it is not easy. It is not an 8 – 5 job. You have to create the work for yourself. A lot of people fail in this industry for whatever reason, but it is possible to make money selling life insurance.
My dad makes over $200,000 working with Primerica Financial Services. He is his own boss and he decides where and when to work. He loves his job and it works, you should check it out. there will always be people out there looking for insurance. Any interests?
You make money with every sale.
not with this economy being so shaky