What is a Honest First and Second Year Income You Could Make?

Jun 1, 2016

  1. Advisor06
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    Advisor06 Guru

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    Does anyone have experience with the P&C career side with Liberty Mutual? I am trying to see what is a honest first and second year income you can make with them. They say the first year has a base but it seems to go down every month and I was told the first two months you don't sell and only train. They told me $57k month 1-2 $47k month 3-4 $37k 5-6 and so on capping at $24k at the end of year one.

    The commission is 10% year one and 1% trail.

    Any advice would be helpful to get a better understanding.
     
  2. AllstateMaine
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    Sounds like a really strange base. I'm not familiar with the staggered base by month, doesn't sound very promising of you can't sell long term. 10% new biz is a nice number with a healthy base pay, however, the 1% trailing is brutal if the base is low. When I started, I got a straight $28K base plus 10% new and renewal and benefits
     
  3. Advisor06
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    I guess the base is to get you started but the 1% renewal has me concerned but then again they do give you $24k each year as a base.
     
  4. ModernInsurance
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    ModernInsurance Super Genius

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    P&C is all about renewals. That being said, I've heard good things about LM's training. May be a good way to cut your teeth, learn the ropes of selling & underwriting captive products, and make some useful contacts within the industry.
     
  5. agentinsouth
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    With them-it really depends on what state you're in. If the premiums are high, then you'll do good. The premiums are low like Arizona, it is harder.
     
  6. AllstateMaine
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    I've heard good things about LM's training as well. I still believe that Allstate's LSP1 and LSP2 training are some of the best in the P&C business. It's changed quite a bit since I went through the program, it's very in depth and interactive now. Webinars are thorough I hear.
     
  7. ModernInsurance
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    ModernInsurance Super Genius

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    AllstateMaine - I'm a former Allstater and hated the training course. The instructors nitpicked and it made for a long 2 weeks...

    That being said, I learned a thing or two during training.
     
  8. AllstateMaine
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    It's quite different now than when I went through the LSP's. From the sounds of it now, it's pretty interactive and informative. I took quite a bit from it, but I'm glad I don't have to do role plays haha.
     
  9. GingerNinja
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    GingerNinja Super Genius

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    The average insurance agent makes less thank $36,000 net. If you are confident in your abilities/experience then go independent, or you'll make very little compared to most other sales jobs.
     
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