How much did you make your first year?

Jmos

Expert
23
I'm just trying to figure out how much is realistic to aim for in my first year with insurance.
I have a life and health license, and I'm going to take an initial pay cut from my current job, I'm sure. But I need to set realistic goals here. And I'd like to see what others were able to accomplish in their first year, and what you think that translates to in today's market. In other words, I'd like to know what is realistic specifically "these days".
Thank you in advance!
 
First calendar year about $3,000. Made less than $100 first 90 days.

First 12 months, started hitting $4k per month consistently. By month 18 making $12k per month consistently.
 
First calendar year about $3,000. Made less than $100 first 90 days.

First 12 months, started hitting $4k per month consistently. By month 18 making $12k per month consistently.

How long have you been selling Medicare products? I just try to keep my renewals constant and with a book like yours you must have to write quite a few policies each year to replace the deaths and the policies that quit paying.
 
How long have you been selling Medicare products? I just try to keep my renewals constant and with a book like yours you must have to write quite a few policies each year to replace the deaths and the policies that quit paying.

I paid taxes on $78,000 my first full year in insurance. And I was on the WORST commission plan you could find. I worked my azz off for that. But the 2nd year was the first time I broke $100,000 and once I got on realistic commission levels I was making money that made my doctor buddy jealous.

There is so much income opportunity in the insurance biz.
 
JMOS, did you pass the test yet? Get your license and go to work either by yourself or with a company. You have been asking so many questions I am not sure your heart is in trying this en devour. Get to work so you can learn the business
 
How long have you been selling Medicare products? I just try to keep my renewals constant and with a book like yours you must have to write quite a few policies each year to replace the deaths and the policies that quit paying.

Medicare only 10 years. My "book" isn't that large, a little over 500, might be close to 600 by years end.

I lose fewer than 10 per year to death or changing to MA. Have to add 40+ to offset the $3/mo Medigap renewal "service fees". So 50 apps keep me steady but income keeps growing by $10k+ per year.

Owe $30k mortgage. No other debt. Don't need as much income as I once did. "Semi" retired but still work hard during AEP.

I left the corporate world in 93 and started a wholesale operation pushing medical stop loss to TPA's. VERY slow start. All as earned overrides. Once it started to build it took on a life of its' own.

That market tanked late 90's. Scrambled for something to do when I grew up. Finally fell into the U65 health ins market. Did some life ins but hated every moment. For the next 10 years or so spent so much time replacing lost group cases and U65 health insurance, I was ready for my next big adventure.

Obama to change to 100% Medicare in 2010. That was slow growth too but quicker than starting my wholesale operation from scratch. Medigap commission grew as U65 health dropped off. Income was stagnant for 4 years then Medigap grew.

Still get about $2k per year from U65 health including a few dental plans that were bought, never sold.
 
My MS book is just over 300 policies. In this area there is a lot of military retirees and others who don't need coverage so if 200 T65 a month only 75 or less will shop. I get a few of them, but there is so many agents targeting them that I have not concentrated on MS. When Tricare For Life passed I lost a ton of money so I changed focus and never went back. I write mostly life now, some FE and a lot of term.

I have very little debt like you. My mortgage is less than $50,000. The biggest payment I make is for my health insurance. Just got a notice from FB that my new premium next month will be $846. Another 18 months and I will be 65 and when I get on Medicare that will save me a few hundred bucks a month. Probably won't ever fully retire, but my wife is a school teacher and is in the drop so when she retires I will too. Maybe.
 
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