From everything I have read there is much more potential in selling Life Insurance rather than Property & Casualty. Would this be a fair statement. My son has been selling life insurance for about 2 months now and averages a gross of $2,000.00 per week. Is this normal and if so should he be making more?
Life Insurance Potential
- Thread starter jas2250
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Your son is off to a great start. At this point in time no he probably shouldn't be making more. Often agents do well at the start because of sales to friends and family and then they slow down when they exhaust this lead source.
On life insurance you get most of your compensation up front with no or minimal trails depending upon what you are selling. With P&C the real bread and butter is in the renewal trail. It takes a much bigger book and more customer service to succeed in P&C.
It is said that P&C is bought while Life is sold!
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The sum assured for a car insurance or fire insurance is capped at the market value or cost of rebuilding. The sum assured for a life insurance policy theoritecally is unlimited. Generally, it is up to the insurer to decide the amount the risk the insurer is willing to assume.
Furthermore, there is no reason for one to have the second or the third car policy or fire policy if one's property is adequately insured. However, a person can own more than one policy.
That probably explains why there is more potential in selling life insurance.
On the other hand, it is usually easier to sell property and casulty insurance because regulations make it compulsory for people to have car insurance before they can drive their cars on the road. Life insurance agents however are required to be more skillful when selling life insurance products.
Furthermore, there is no reason for one to have the second or the third car policy or fire policy if one's property is adequately insured. However, a person can own more than one policy.
That probably explains why there is more potential in selling life insurance.
On the other hand, it is usually easier to sell property and casulty insurance because regulations make it compulsory for people to have car insurance before they can drive their cars on the road. Life insurance agents however are required to be more skillful when selling life insurance products.
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What is surprising is he has not approached anyone in the family and I only know of one of his friends. The reason I say this about his friends is that we moved a couple of years ago and none of his friends live anywhere near us. It has my attention because I bust my tail and travel out of town and will be gone 4 to 5 nights a week with an income of approximately 150,000. He works 5 days a week and sleeps in his own bed every night.
Wow, those are great numbers for a new agent. I like to ask him his tricks and what he is doing. 2,000 a week is great.
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2g's a week is great
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Your son must be writing simplified issue policies. Fully UW policies can take 4 to 6 weeks to get issued. I'm not sure I believe he is doing 2000 commission a week only having been in the business 2 months, if he is he is extraordinary.
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Sounds like she is going to end up trying to recruit people into NAA in a few minutes. Soon we will all ask her how can we make that kind of money too. She'll tell us about good old NAA.
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