TheBroker
Expert
- 33
Wanted to know
What kind of insurance you sell,
How long you have been selling,
How many people are making over 150k
What kind of insurance you sell,
How long you have been selling,
How many people are making over 150k
I Make ??
- Thread starter TheBroker
- Start date
ME ME ME ME....
Either your under 25 or just plan rude.
If you want to know intrusive information such as above I suggest you "warming up" your targets. Mabe by telling us a bit about yourself.
If the above is an example of how you gather information from a potential client then I'd guess you're having a tough go of it.
- Thread starter
- #3
TheBroker
Expert
- 33
I am 25, Just trying to get an idea on the potential income.
- 868
You can make at least 250,000 and net at least 200,000 if you are willing to market by spending 50,000 a year to obtain leads and clients.
You will work between 40-50 hours a week to do so.
There is no secret it is hardwork and marketing positioning.
You will work between 40-50 hours a week to do so.
There is no secret it is hardwork and marketing positioning.
- 238
I wouldnt venture to know the answer to this - bet google knows. Perhaps youre better served ask it?
These guys seem to have all these kinds of answers ... you might ask them. Be sure to get clarity on if its premium or commission though.
Insurance Marketing Maverick — Write More Premium, Stop Competing On Price, Never Make Another Cold Call
Just a guess, but I'd go out on a limb and say probably very few 25 year olds are making $150K in this business.
I personally know hundreds of agents making this and more, all of them a bit more 'seasoned'.
Why do I say this? It is very possible for a 25 year old to make 150K+ in insurance, but the odds are much slimmer. Insurance is a bit about knowledge, a bit about life experience, a bit about relationships, a lot about trust.
I'm a P&C guy, so my answer is always based on P&C. I've had enough personal experience to relate to individuals on why they need certain coverages. Ask me why you need $100000 in property damage instead of $5K or $10K and I'll tell you the story about my daughter driving and totalling 3 parked cars plus my own in one accident, or the time the guy accidently drove his car through the building, adding a drive thru lane to a real estate office. Ask me why loss of use is a big concern on a homeowners policy and I'll tell you the story of where PG&E for months and months wouldn't turn the power and gas back on to a house that had a garage fire. Ask me why you need higher liability limits on your auto and I'll tell you the story of a guy who literally ran over a pedestrian (not intentionally), and needed the legal protection that comes with higher liability. Ask me why a 39 year old father of 4 needed life insurance and I'll tell you how my ex-brother in law suddenly died of a massive heart-attack, leaving his children almost penniless, he didn't want to spend the money on life insurance.
Most 25 year olds can tell these stories, but they don't have the passion and emotion behind them. When a bald, fat, older agent tells these, he has a lot of believability, without it sounding like a sales pitch.
People buy insurance not to remove the emotion from a loss, but rather to allow the emotion to happen. If you have a house fire today, you don't want to HAVE to go to work tomorrow. Lose a child? It's important to have the financial resources to take time off to grieve and start the healing process as a family.
If you truly have the passion, the compassion, and the drive, you can do very well in this industry. If you wonder how much money you can make, you'll likely fail. If you wonder how many lives you can help in a small way, you'll do well.
To me, its about the client who called me at 11:00 at night to tell me his house was on fire. I didn't ask how much money I made, I asked him if he and his family were okay, if they needed a place to stay, food, or someone to help board up the house. He was at his house until 3:00 am, then was able to go check into the hotel we had arranged for him and his family.
It really is about the passion to help people plan for the unthinkable, and about the compassion when the unthinkable happens.
Dan
I personally know hundreds of agents making this and more, all of them a bit more 'seasoned'.
Why do I say this? It is very possible for a 25 year old to make 150K+ in insurance, but the odds are much slimmer. Insurance is a bit about knowledge, a bit about life experience, a bit about relationships, a lot about trust.
I'm a P&C guy, so my answer is always based on P&C. I've had enough personal experience to relate to individuals on why they need certain coverages. Ask me why you need $100000 in property damage instead of $5K or $10K and I'll tell you the story about my daughter driving and totalling 3 parked cars plus my own in one accident, or the time the guy accidently drove his car through the building, adding a drive thru lane to a real estate office. Ask me why loss of use is a big concern on a homeowners policy and I'll tell you the story of where PG&E for months and months wouldn't turn the power and gas back on to a house that had a garage fire. Ask me why you need higher liability limits on your auto and I'll tell you the story of a guy who literally ran over a pedestrian (not intentionally), and needed the legal protection that comes with higher liability. Ask me why a 39 year old father of 4 needed life insurance and I'll tell you how my ex-brother in law suddenly died of a massive heart-attack, leaving his children almost penniless, he didn't want to spend the money on life insurance.
Most 25 year olds can tell these stories, but they don't have the passion and emotion behind them. When a bald, fat, older agent tells these, he has a lot of believability, without it sounding like a sales pitch.
People buy insurance not to remove the emotion from a loss, but rather to allow the emotion to happen. If you have a house fire today, you don't want to HAVE to go to work tomorrow. Lose a child? It's important to have the financial resources to take time off to grieve and start the healing process as a family.
If you truly have the passion, the compassion, and the drive, you can do very well in this industry. If you wonder how much money you can make, you'll likely fail. If you wonder how many lives you can help in a small way, you'll do well.
To me, its about the client who called me at 11:00 at night to tell me his house was on fire. I didn't ask how much money I made, I asked him if he and his family were okay, if they needed a place to stay, food, or someone to help board up the house. He was at his house until 3:00 am, then was able to go check into the hotel we had arranged for him and his family.
It really is about the passion to help people plan for the unthinkable, and about the compassion when the unthinkable happens.
Dan
- 868
Very well said
- 186
I'm curious how to spend 50,000 on marketing? I'm guessing that's a lot of direct mail?
That's one way if you don't mind a low ROI.
Anything will work if you do it with repetition. Standing on a street corner with a sign around your neck will work, but who wants to do that?
You need to balance the funds you have available against your income needs and abilities. Some people, and some products, are better sold face to face while others can be sold over the phone.
If you are not good face to face you better have good phone skills and vice versa.
- 868
Actually no, thats buying about 200 internet leads a week converting them into 20 sales and writing 60,000 AV IFP weekly.
Do that and you will gross 12,000 in commission weekly (20%) and after 25% loss ratio and cost of leads weekly you will net 400,000 per annum.
Similar threads
