Is There A Life Insurance Company To Work For That Offers Salary Plus Commission?
Posted January 10, 2010 – 4:24 am in: structured settlements FAQI am a licensed Life insuramce agent in Florida. I am looking for a good company to place my license.
Tags: Commission, Company, Insurance, Life, Offers, Plus, Salary, That, There, Work
3 Comments
Most banks will offer a salary plus commission pay scale but you will have to be series 6 licensed as well to sell variable products (most states also require a series 63). The other option would be to find another agent or broker to work for that would offer this. My experience has been that most of the big insurers offer a full commission pay scale with bonuses.
It depends on your experience as an agent. If you are new to the industry then there is a training stipend that you can receive. It can last up to three years and decreases each year. Most major insurance companies offer some form of this either as a bi monthly salary type payment, a draw, as a bonus off of commissions paid or as a combination. Please let me know if you have any questions.
Some companies do, most don’t. If you are new a lot of companies start you off with compensation, but it only last for a certain period of time, and you have to meet quotas. If you have been in the game for a while some companies will give you a salary plus commission based on what you have already sold. Meaning that if you sold a half a million dollar renewal commission case they might give you $250,000 a year plus 30% of whatever you sell after(that is just an estimate). This industry is one of the toughest, but most beneficial industries out there. If you are lazy and don’t work hard you will probably be one of the 92% that don’t make it past 4 years. If you work hard and stay on task you will be a part of the 8% that have no threshold to what they can make.