Is he still in insurance Scott?
Does anyone really get "rich" selling Medicare
- Thread starter newbie2001
- Start date
I haven't met F2F with a client in over a dozen years. . . yet I still offer them personal service and they call/email me when they have a question or problem.
Go figure . . .
It's already been said, but this is typically a get rich slowly gig. But, like most jobs, as an employee or biz owner, you do a lot of the same tasks over and over, however in this biz, you keep getting a raise each year.
Some people do make good money quickly, some have prior business owner experience, they are good communicators and work hard right out of the gate, cross selling as well.
Others make money fast, and disappear with advance commissions. They get what's coming eventually.
You could be a dentist, and it's probably similar, you grow your client list, and you make more each year, but your overhead likely increases too.
It shouldn't be overlooked, that you are not just creating an income stream, but you very well could also be building an asset which can be sold, this is something I tend to forget. But, you could very well get to that 1,000 customers, you could also spend all that overhead money you mentioned, but you could then sell the business for a lump sum. From what I have heard, that can be a pretty big sum of money.
There are a lot of agents with several thousand clients, far more than I have. I remember when I was first indy agent, having some similar questions you are raising. It can be a little intimidating, you are aiming for 100 sales per year.... and others are doing that in a month... or a week!
In 2008, I was 22 and someone told me all I had to do was sell 500 MA plans, and I could sit back and collect six figure renewals, only working 3 months per year. I was young and naive, and excited. It's not that easy.
Not all your clients need a lot of service every year, in fact most are probably pretty easy. But as you build the book of business, it will take more service work, even if 400 of them are easy, and 300 need a bit of service, that is still a bit of work. Also, clients will die, so if you do everything perfectly, you will still lose clients, so it helps to continue to grow, and that takes some work too.
It was mentioned earlier that the average income for insurance agent is 65k. It is probably worthy mentioning, that there are quite a few people in administrative roles, and service roles, that have a license. That probably weighs the average down a little, but they still can be doing well.
Have you ever heard the song "there's no one with endurance like the man who sells insurance" ??
Im pretty sure the agents who never give up, end up doing pretty well.
Maybe if you sold 500 plans to folks who never get calls to switch, or watch Namath ads and call the 800-GOLDPLAN, or die . . . you can kick back and semi-retire.
Until CMS changes the rules . . .
Or your carrier(s) don't withdraw from the market . . .
- 30,339
I would not wait, aca is not going anywhere, and if they take it away the fools that vote for that will be voted out in the next election, more people have aca than Medicare,
I think @somarco has a good story or two about that
Not only can you keep your doctor but Mexico will pay for it!
Or you can just walk past helping people and skip making money
