Is it true 93% of new insurance agents fail within 1st 3 years?!

[TheGULguy]

There is a major difference in their first year. P&C folks believe that only P&C products pay renewals and Life folks believe that only life products pay renewals.They both believe that by year 10, agents dont have to do any work and get paid a 6 figure salary a month.

That will go perfectly with my model wife that's about to stumble in.... any day now!

 

[somarco]

That will go perfectly with my model wife that's about to stumble in.... any day now!

 

[goillini52]

Based on the car salesmen and life insurance salesmen I've met, I'd take the car salesman every time. Frankly there is a good chance I would just skip the flight all together.

Again, based on the ones I've met, I wouldn't trust either one any farther than I could throw them. If they said the sky was blue, I'd go outside and double check.

Of course you'd skip the flight. You don't need no stinkin' plane....you've got a cape and can fly.

 

[toolbelt]

Industry churn rates are greatly skewed by MLMs in the industry, which have both a high recruiting rate, and even higher churn rates.

 

[lifeismylife76]

I started selling insurance full-time in March of 2014. I didn't really start making money until 2017. 2014 and 2015 I got really behind on a lot of things. 2016, I got caught up, 2017 and 2018 I am prospering!!! It's like any business, it is what you make it!!

My office is my car! Check out my AEP trunk.

 

[lifeismylife76]

Here are a couple more pictures of my "Inventory". I am really trying to get a lot of clients! I feel that I am really helping people and changing lives!!! I love UnitedHealthCare. I feel like I have found success and a home with UHC!!! I am a Broker, and I do write other carriers, but UHC is my top pick 85 to 90% of the time.

 

[InsuranceGuy29]

I started selling insurance full-time in March of 2014. I didn't really start making money until 2017. 2014 and 2015 I got really behind on a lot of things. 2016, I got caught up, 2017 and 2018 I am prospering!!! It's like any business, it is what you make it!!

My office is my car! Check out my AEP trunk. View attachment 4853 View attachment 4854 View attachment 4855 View attachment 4856 View attachment 4857

I fully agree with you. My first year, I wanted to quit. My mentor barely had any time to help me, I had barely any clue what I was doing, but I kept reading, learning, trying, and working hard, and now I'm very confident in my abilities.

This job is what you make it. It's not a get rich quick endeavor. Anything worth anything is not easy to attain. You have to be able to take a few blows to the face, fall down, and keep getting back up, all while swinging.

Because people are definitely going to frustrate you and test your patience and ability in yourself. You just have to keep learning, failing, and trying again.

If you're someone that wants everything to be all sweet, easy, kind, and comfortable, then this isn't the career for you. It'll eventually get very close to those adjectives, but it takes time to get confident in what you're doing.

Learning this job is basically like trying to learn how to become a lawyer, salesperson, and psychologist, all at the same time.

 

[Abrasax]

I fully agree with you. My first year, I wanted to quit. My mentor barely had any time to help me, I had barely any clue what I was doing, but I kept reading, learning, trying, and working hard, and now I'm very confident in my abilities.

This job is what you make it. It's not a get rich quick endeavor. Anything worth anything is not easy to attain. You have to be able to take a few blows to the face, fall down, and keep getting back up, all while swinging.

Because people are definitely going to frustrate you and test your patience and ability in yourself. You just have to keep learning, failing, and trying again.

If you're someone that wants everything to be all sweet, easy, kind, and comfortable, then this isn't the career for you. It'll eventually get very close to those adjectives, but it takes time to get confident in what you're doing.

Learning this job is basically like trying to learn how to become a lawyer, salesperson, and psychologist, all at the same time.

It looks extremely easy from the outside, and even compared to most other sales jobs it's a really soft way to make great money. The in home sale is actually the easiest part though. The sheer amount of information and experience required to write an app for a random FE client and get it issue/paid without speedbumps is staggering. In my own experience, there's a point early on after the sales are made but before the money comes in where you're running into problems with the carrier, UW, billing, or the client changing their mind, and you start to wonder if you got in over your head. I think at this stage a lot of agents lose the rose colored glasses and start to doubt their decisions. IF they're able to get to the point of getting business issued fast they should find themselves in the clear.

Of course this can all be avoided with uplines who will help scrub apps and train newbs but how many FE agents have that luxury?

 

[Rob Lion]

It looks extremely easy from the outside, and even compared to most other sales jobs it's a really soft way to make great money. The in home sale is actually the easiest part though. The sheer amount of information and experience required to write an app for a random FE client and get it issue/paid without speedbumps is staggering. In my own experience, there's a point early on after the sales are made but before the money comes in where you're running into problems with the carrier, UW, billing, or the client changing their mind, and you start to wonder if you got in over your head. I think at this stage a lot of agents lose the rose colored glasses and start to doubt their decisions. IF they're able to get to the point of getting business issued fast they should find themselves in the clear.

Of course this can all be avoided with uplines who will help scrub apps and train newbs but how many FE agents have that luxury?

I remember doing my first app thinking i just made an easy 400 dollar commission than bam hes graded haha.

 

[smilingnomad]

For those of you who shared that you or your producers don't get enough training, what's missing? What would you / they benefit from learning more about? How might we bring an couraging community of peers and / or experts around them to help them thrive and crush it?