What are the good and bad aspects of being an insurance agaent? I am thinking of a career change and i want something long term with the possiblity of owning my own agency.

What is a realistic 1st year earnings?

What kind of education do you need?

What are the costs to get started?

Does anyone offer a salary?

What is the best marketing?

Views: 122

Reply to This

Replies to This Discussion

I had the exact same thought when I became an insurance agent. Wanting to start a new career, own my own business, and have the opportunity to have a good income. To answer your questions:

 

What is a realistic 1st year earnings?

Theoretically your income is limitless, but I was always told that on average after your training most people make about $30k - $36k in their first year.

 

What kind of education do you need?

It depends on your state but typically you have to pass two different insurance exams which I believe cost about $100 per test per time you take it, in addition to any materials you purchase to prepare for it. These exams allow you to sell auto, home, life and health insurance. I strongly suggest purchasing something to assist you in your studying, whether that be online or a book.

 

What are the costs to get started?

One of the larger financial hurdles are your exams mentioned in the previous answer. Beyond that it really depends on what company you sign on with and what kind of district manager you have. I was able to work out of my district manager's office to start with which saved me rent, office supplies, and phones. You might have to factor in that stuff as well as any staff that you might hire.


Does anyone offer a salary?

Some companies do offer a signing bonus or a base salary, you would just have to research this.

 

What is the best marketing?

I hired a woman with telemarketing experience which proved to be very helpful. I employed her as an independent contractor so I didn't have to mess with taking out taxes, and I paid her a commission based on production. Knowing a lot of people in your area is also invaluable family and friends help you practice and get your first sales. Large groups of people that you have access to or know a center of influence are also great. These might include a pastor and your church or a high school in the area where you could talk to the principal and have access to all the teachers.

 

Some companies have a certain amount of time that you have to sell a set amount of policies or you can be let go; others allow you to build up your agency at your own pace. So that is something to take into consideration also.Being an insurance agent gives you the opportunity to be your own boss and have flexibility with your time, this also means that you are your own boss and everything has to be done by you. You might have to work from 8am - 8pm six days a week, and then be available on Sunday to meet with someone.  Hope this helps and if you have any other questions please let me know. Good luck in finding your new career path.

sorry to bring up an old thread but I am considering this for a career while still in my undergrad to provide for my soon to be wife.

In my current employment I only make over $7,000 a year. (That is not a mis print)

She is the main earner in the family, (Just temporary, while I'm in college earning my degree)

What I need is to be able to work from my apartment (Not have to rent space, my household will not have that means to us)

I want to at least bring in 20,000 a year to ad to our house hold. (Within in my first year, I'll keep my current job and work issuance as well)

Do you believe this will possible? I'm not going to waste time or money if it will not help my family or even add a finical burden such as having to pay rent for an office.

RSS

Latest Activity

Nate replied to Mongoose's discussion Methinks "Manly" is a Misnomer?
"I am a man. While I believe in many traditional manly virtues like being competent, capable,strong, and ethical the fact is.... ....whatever a man decides to do is manly."
23 minutes ago
Sir replied to Mongoose's discussion Methinks "Manly" is a Misnomer?
"When I googled it I found  having or denoting those good qualities traditionally associated with men, such as courage and strength. (of an activity) befitting a man, especially in a traditional…"
43 minutes ago
Native Son replied to Zach.Riggs's discussion Reading
"I originally had a Sony Reader.  I liked several aspects of the Reader user interface better than my Kindle Fire.  Unfortunately, the Sony download was a ridiculous PITA. You had to buy the book online, download it onto your PC and then…"
3 hours ago
R. Max 2.0 replied to Ian M's discussion Girlfriend was flirting with one my friends - am I over-reacting?
"She's a Russian sleeper agent. The trigger is other dudes."
5 hours ago
Jack Bauer replied to Mongoose's discussion Methinks "Manly" is a Misnomer?
"Those were paraphrases of the dictionary definition of the term. The only way they're "kind of like" that nonsense is if you're reading them with the intent to misunderstand or dispute them. JB"
6 hours ago
Jack Bauer replied to Ian M's discussion Girlfriend was flirting with one my friends - am I over-reacting?
"Mark your territory. Certainly an option. JB"
6 hours ago
Jack Bauer replied to Mongoose's discussion Methinks "Manly" is a Misnomer?
""Manly" was what we were defining. But, it's a qualitative term, so you're not going to be able to define yourself past reasonable differences of opinion. That doesn't make the term undefinable, though. Even where opinions…"
6 hours ago
Shane replied to Ian M's discussion Girlfriend was flirting with one my friends - am I over-reacting?
"ITT: Men overthink it. Just fuck her. Hard. Fast. Sweaty. Don't wait till you get home. Don't talk. Just fuck. And by fuck I mean; put your penis in her vagina and slam vigorously and repeatedly until you're both dehydrated."
6 hours ago

© 2016   Created by Brett McKay.   Powered by

Badges  |  Report an Issue  |  Terms of Service