Is Insurance Sales A Good Job?

The US Bureau of Labor Statistics reports that an insurance agent made

$50,940 per year

on average in 2019. The lowest 10% in the industry earned more like $28,000, and the highest 10% earned over $125,000. The way you earn your income differs depending on which company you work for and what kind of insurance you sell.

Is selling insurance a good paying job?

Earning Potential for Insurance Agents Is High

According to the BLS, the median wage for insurance agents is $47,860, more than $10,000 more per year than the average median wage for all workers. Even better, this is only the average income for all insurance agents, and the top-earning potential is much, much higher.

Is it worth becoming an insurance agent?

Additionally, many people hold insurance agents in low regard: Some people even equate them to glorified con artists. But, for those who can stomach the potential rejection,

the paycheck and flexibility of being a

life insurance agent can be worth the effort.

Is selling life insurance a good career opportunity?

Is selling life insurance a good career opportunity? For those who like helping people and don't mind hard work, the answer is

yes

. Life insurance agents sell policies and annuities. They work with all kinds of clients and beneficiaries, and most agree that it is a rewarding career.

Do insurance agents make good money?

The US Bureau of Labor Statistics reports that an insurance agent made

$50,940 per year

on average in 2019. The lowest 10% in the industry earned more like $28,000, and the highest 10% earned over $125,000. The way you earn your income differs depending on which company you work for and what kind of insurance you sell.

Are insurance agents happy?

Insurance sales agents are one of the least happy careers in the United States. … As it turns out, insurance sales agents

rate their career happiness 2.3 out of 5 stars

which puts them in the bottom 2% of careers.

Are insurance agents in demand?

Employment of insurance sales agents is projected to grow 7 percent from 2020 to 2030, about as fast as the average for all occupations. About 50,400 openings for insurance sales agents are projected each year, on average, over the decade.

How do I succeed in insurance sales?

1. 1) Dress More Professionally. …
2. 2) Avoid Using “Young” Slang. …
3. 3) Find Common Ground. …
4. 4) Ask Prospects About Their Kids. …
5. 5) Reference Combined Experience. …
6. 6) Learn From Experienced Coworkers. …
7. 7) Be Enthusiastic. …
8. 8) Follow the Markets.

What is the most profitable insurance to sell?

1. Mortgage guaranty. Five-year profitability average: 30.5.
2. Inland marine. Five-year profitability average: 20.2% …
3. Fire. Five-year profitability average: 13.6% …
4. Warranty. …
5. Workers' compensation. …
6. Farm-owners multiple peril. …
7. Homeowner multiple peril. …
8. Private passenger auto physical. …

Who is the highest paid insurance agent?

Gideon du Plessis

failed in the 10th standard and never went to college. He is today the highest earning insurance agent in the world, with annual commissions amounting to Rs 7 crore (Rs 70 million) plus. A record he has maintained over the last 12-14 years, selling 700 policies yearly.

Why do insurance agents quit?

26.2% voted a

lack of money for leads

as their primary reason why they quit. Less important reasons agents quit selling insurance include running out of prospects, personal issues like health problems, and discovering the business wasn't a right fit.

Can I sell life insurance from home?

Yes, you can definitely make money selling life insurance from home

. It's a relatively simple business depending on what type of life insurance you are selling and the needs of your clients. … The big challenge with selling only term insurance is that for the majority of agents, there is no renewal commission.

What are the highest paying insurance jobs?

• 1.) Actuary — $161,759.
• 2.) Insurance Claims Adjusters — $114,976.
• 3.) Insurance Underwriter — $108,957.
• 4.) Risk Analyst — $104,421.
• 5.) Financial Analyst — $103,204.

Can you get rich selling life insurance?

Like any profession, it takes time to gain experience and build up your income. With that said, the top life insurance

agents earn over $100,000 per year

. Many make a lot more than that! You can expect to earn $2,000-5,000 per month starting out.

Is it hard being a life insurance agent?

Compared to most finance careers, becoming a life insurance agent

is easy

. No educational requirements exist beyond a high school diploma at most. Some states require you to take a licensing course and pass an exam, but truthfully, these are as easy as a fifth-grade spelling test.

How much do life insurance agents make 2020?