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.
Is being an insurance agent stressful?
Is being an insurance agent stressful? … CareerCast ranked being an insurance agent
155
th
out of 200 on the worst jobs
list. They rank the stress as “average,” whatever that means. A good income makes up for a lot of stress for many people, so that helps.
Why do insurance agents fail?
The number one secondary reason agents quit selling insurance was that
they ran out of money
. The second most common secondary reason agents failed selling insurance was that they ran out of prospects to sell to. The third reason was the agency wasn’t a good fit. And the fourth was personal issues.
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.
Is it hard to make money as an insurance agent?
The truth about being an insurance agent is
that it’s hard work
, but the money part gets easy after a while, and it’s a great career! … You see it all the time on google, “100 Sales Tips to Grow Your Agency.” Or, “100 Best Insurance Marketing Tips.”
Why do most 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.
Is selling insurance a good career choice?
Due to the low barriers of entry, insurance sales is
a good career choice for people who are transitioning into a new career following a major life change
. … A college degree is preferred but is not required in many insurance firms. Unlike many other finance-related positions, prior experience is also not required.
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.
What is the most profitable insurance to sell?
- It should not come as a big surprise that auto insurance is the best selling and most profitable insurance product. …
- Property or home insurance typically covers anything that can pose a risk to your clients’ property like theft, flood, fire, and inclement weather.
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 selling insurance hard?
Even when pitching to the most-qualified prospect, do not assume you have an easy sell. Life
insurance is a very difficult product to sell
. Simply getting your prospect to acknowledge and discuss the fact they are going to die is a hard first step.
How do I start selling insurance?
- Decide what kind of insurance agent you want to be. …
- Decide which insurance products you will sell. …
- Review your state’s licensing requirements. …
- Take an insurance license exam. …
- Submit your licensing application and background check.
Can insurance agents make millions?
Insurance agents can make more than a million dollars per year
, but most don’t because they focus on marketing to people they know and rely heavily on referrals. … This is based off a scenario of an agent that receives health insurance leads with an average close rate of 20%.
What are the benefits of being an insurance agent?
- You can give back to your community. …
- You’ll find an abundance of opportunities. …
- You can develop a broad skill set. …
- You’ll enjoy job security. …
- It’s easy to get started.
What are the challenges of being an insurance agent?
- The Pressure to Produce. Probably the most common challenge for insurance agents is also the most obvious, but that doesn’t mean that it still doesn’t deserve a mention. …
- Not Enough “Luxury” Coverage Demand. …
- Being Cut Out of the Process. …
- Overcoming Negative Stereotypes.
