Part Time insurance agent?

By Part Time I mean its not your main source of income...

So your Doctor works 3 days a week... great, does he serve tables on the weekends? or does he work in the factory to make some extra cash, i would venture to say no....

I do not work 40 hrs a week in insurance, so I guess im part time, but its my only income...

Insurance is the only industry that i know of (other than drug dealing or prostitution) that you can put in so little hours and make such a great income....

Again its not about working hard, its about working smart....

Agents spend hours and hours on the phone cold calling, this is work, so they may work 40hrs but 10 to 20 of those are on the phone, I do not work the phone, I refuse, I pay someone to do it for me, hence the extra time....

I have yet to see an insurance agent whose main source of income is coming from a job make over 75k in insurance...

If im wrong, let me know... these are just my observations... I dont mean to come across snobby or rude....
 
I would agree that it would be tough to make 75K at insurance -with insurance as a second job. I would think it would have to be an agent's #1 priority- to make 75K working at it full or part time.
 
Brad, It can work. Keep your expectations realistic. Develop a plan and work it consistently. Take your commissions as earned, not advanced. Handle your part time insurance business the same as you'd handle a full time business.
 
Is selling insurance an all-or-nothing type deal? Do I need to go at it 40+ hours to see any results at all? I like the job I'm at now, but the thought of recurring commission really appeals to me.

I was looking at possibly (if i can find a company that allows it) working evenings and weekends. I know I wouldn't be able to generate a huge income, but having some extra recurring paychecks coming in would be great.

Any thoughts on this? Any advice on which companies I should look into?

Companies like Primerica tried parttime agents and it does not work out too well. It would be even harder for someone in P/C do it parttime. Remember, clients are going to want service. They change vehicles, have billing questions, and other issues. Are you only available after 5pm then?

The one scenario I can imagine it working is if you worked for an independent insurance agency and part of your commissions split is if they did all or much of the back-end service work. That might be doable.

Contact local Independents in your area (Independent Insurance Agents & Brokers of America) and inquire.
 
I also am looking for some information regarding starting in the insurance field. I wouldn't mind doing it full time immediately but I have yet to find a company that offers any kind of resonable training pay/salary/guarantee. Being the main income provider for my household, this stops me from getting started in insurance because I cannot afford to have a few months - a year to start generating the income I need. I am either looking for information regarding starting sellling insurance part time, a company that provides the type of pay for starting up like I need, or any information on HOW LONG does it actually take to start making a decent income. When I say decent, I currently make about 65k...ultimately could take a big cut to move into insurance to do what I really want to knowing that it will be well worth it in the future but REALLY need no less than about 35k to provide for my family.

Any help is GREATLY appriciated!
 
Most of us probably put in less than 25 per week but our only job is insurance.

Rick

Work less than 25 hours/week? Must be nice! If I don't put in a solid 50 something is wrong. That being said, I'm not a fifty something year-old in California so maybe that's the difference.

My $0.02 is that if you want to get in the business part-time you're going to have your work cut out for yourself. You're going to need to be really focused on what type of insurance you're going to put your efforts into and work a solid plan with it. If you know you'll need a bunch of help initially you're probably going to want to partner with someone who is already in the business selling the product or products you want to sell and work out commission split (you pay them their cut of the first year and you keep the renewals). Not every agent will go for that but if you find the right person it could be a good partnership. To make $10k-$12k/year in renewals part-time should be a good goal to start with. Depending on the contracts you get, that's only 50 seniors that would keep a Medicare Advantage plan with you and let you help them with their plan change each year.

Visit my website and shoot me a message if you want more help.
 
I agree with GreenSky. Once my renewals hit I only worked about 30 hours per week. I work 60 hours per week now and have more than 4 times increased my income. Insurance is easy to get "satisfied". I would sell 6 Med Supps by Wed and make 1000 dollars and quit until Mon. Now I sell 6 days per week and make much, much more. In five years the renewals will have me set. It is really all about what makes you happy. good luck.
 
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