How much do insurance agents make?
Insurance agents are responsible to help us get the right insurance for ourselves. These agents are either captive agents or independent insurance agents. Usually more than a quarter of insurance agents are self-employed, some work for agencies or brokerages and some for insurance carriers.
In case of a captive agent, there is normally a fixed salary. The first few months would be invested in understanding the company and their product. There is usually a target set for the agents which they have to meet by the end of the guaranteed period. If the agent meets the set target and performs well the salary structure may be revised. It totally depends on the company's policy.
When an insurance agent works for an independent agency, normally he gets his income from the commission only. The bigger client base he has, the greater his chance of a good commission. Those insurance agents who work independently get their income from the commissions generated from new sales only. This seems to be the most difficult of all types of insurance careers for agents.
The income made by insurance agents also depends on the type of insurance they sell. There are agents who started with $50,000 and rose to $60,000/year. Insurance agents can earn more with more years of experience. Hard working agents can push up their earnings to 120,000/year too.
In case of a captive agent, there is normally a fixed salary. The first few months would be invested in understanding the company and their product. There is usually a target set for the agents which they have to meet by the end of the guaranteed period. If the agent meets the set target and performs well the salary structure may be revised. It totally depends on the company's policy.
When an insurance agent works for an independent agency, normally he gets his income from the commission only. The bigger client base he has, the greater his chance of a good commission. Those insurance agents who work independently get their income from the commissions generated from new sales only. This seems to be the most difficult of all types of insurance careers for agents.
The income made by insurance agents also depends on the type of insurance they sell. There are agents who started with $50,000 and rose to $60,000/year. Insurance agents can earn more with more years of experience. Hard working agents can push up their earnings to 120,000/year too.
Qualities of a successful insurance agent
Insurance agents need to be very hard working in order to be successful. Basic education is definitely the most important requirement. Other than that an agent needs to be extremely attentive, must have the ability to listen to his clients and understand from the perspective of the client.
Being energetic and spirited surely helps when it comes to providing insurance solutions for different individuals. How much money an individual insurance agent makes depends on the kind of work he/she does.
Being energetic and spirited surely helps when it comes to providing insurance solutions for different individuals. How much money an individual insurance agent makes depends on the kind of work he/she does.
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