Looking To Enter The Insurance Industry

[jamie58s]

I am intersted in getting into the insurance industry. I have a B.S. Business from PSU. I have management experience, customer service experience, as well as Outside sales experience. Experience cold calling and closing. I understand that takes quite a while to establish a decent income from this career. I have several questions that I have not been able to find.

1. What do first year agents weekly or monthly sales averages look like. I sold uniform and textile rental services and I averaged around $80 new business contracts per week. If I averaged $80 per week in new business selling term life, what could I expect to earn selling insurance?

2. What is the minimum earnings I could expect first year, if I work hard and make the calls.

3. What does the average life insurance policy look like

4. What does an average commision look like for term and whole life

5. Is my background a good background for this career?

Thank you

 

[669comche]

Re: Looking Enter The Insurance Industry

1) At $80 in monthly premium you can expect total commission to range from $540 to $720 (this assumes a 9 month advance and a commission range between 75% - 100%)

2) How long is a piece of string? A lot of agents fail in the first year. Very few make $75k + first year. So you might fall some where in between there.

3) Buy one to find out.

4) See post 1

5) Insurance is a mixed bag of backgrounds. Even people with good sales backgrounds fail in this biz. You are probably as well prepared as you could be.

 

[mts1234]

Re: Looking Enter The Insurance Industry

good luck, the first yr or two is gonna be tough, but once you build your book of business there is alot of money to be made