Insurance agent salary reddit In general you get about 80-100% of the first year premium as a rule of thumb. 80 hour work weeks and driving 200 miles for clients just to get nothing in return it was mentally and physically exhausting. You convert 1 out of 3 presentations to a sale. Biden has just passed new regulations that take effect 9/1/24 banning all health insurance plans longer than 3 months that are not marketplace plans. true. This subreddit is for Insurance Professionals (Agents/brokers, owners) to discuss our work and current events and goings on in the industry, in addition to asking and answering questions about the business amongst each other and sharing relevant content. You have to make 200 phone calls to complete strangers to get an appointment to talk to them about insurance. I was licensed to sell P&C and they had a slew of banking products they sold as well. Base salary of $28k (this was in 2014) no commission on insurance policies, but $200 per auto loan sold. Avg size of a policy is $20-$50k with 10% broker commission and my commission (comm only no base) is 40% nbs/25% renewal. Oct 20, 2022 · How much does insurance agent make in a month? 0 to a lot. . Since you're younger, it might work out for you but that's up for you to take that Former insurance rep for a large Personal Insurance Policy carrier here. aren't free. First "real" job I had after college was working for an insurance agent. We would like to show you a description here but the site won’t allow us. Keep in mind the more specialized an agent/servicer the more they Oct 21, 2022 · To find out which insurance career pays the most, job-posting service website ZipRecruiter generated “compensation estimates” for each role, factoring in the job title and location, and the Jul 25, 2024 · Hello, I am thinking of becoming a state farm agent and have a couple questions. Is it correct that you have to pay for rent, salary, etc? Does Mar 26, 2025 · The national average salary for an insurance agent in the United States is $55,889 per year with a salary range between $25,761 per year and $121,252 per year. It's strictly sales. Hi guys! Im a BDR at an MGA (commercial insurance) , right now with bonus/commissions im hitting 100k (not really possible to go above that in my current position) This insurance subreddit is for consumers wanting their questions answered about insurance (quicker than a bigger sub where you have to wait to trend to be noticed), and P&C and L&H agents/brokers wanting to answer consumers' questions while sharing useful content in addition to asking and answering agents questions about the business. Oct 20, 2022 · How much does insurance agent make in a month? 0 to a lot. This insurance subreddit is for consumers wanting their questions answered about insurance (quicker than a bigger sub where you have to wait to trend to be noticed), and P&C and L&H agents/brokers wanting to answer consumers' questions while sharing useful content in addition to asking and answering agents questions about the business. Whole life policies pay pretty well. What this means for insurance agents is there will be no money to be made in private health insurance because marketplace plans are heavy on regulation and they pay peanuts compared to private. I am used to a salary including OTE range between $75-$110k per year. Nov 4, 2016 · Do you have a base salary or hourly wage? Don't forget, the office, staff, software, insurance, marketing, supplies, etc. Unless you are directly paying for any of this, then the cost is baked into your commission split. Three months in, agent changes it to "up to $200 commission per auto loan. The service side gets paid a salary, but you get the income stability and benefits. I worked for an insurance agency for 2 months and literally hated it. Many of the contact center type of P&C jobs are going to have base pay between $18-25/hr depending on experience, and commissions from there, but warning: most personal lines gigs are a very steady grind. Made it to the second round after a conversation with the managing partner. I'd never work in insurance sales myself but to each their own. Jun 5, 2022 · Sales obviously has unlimited income potential but will take time to develop a "book" to live off of. Insurance is a VERY broad industry with numerous roles. If they’re in a multi leveled sales organization, they probably see like 25-50% of that commission until they recruit more people or sell a bunch of policies. I enjoyed a lot of it and hated a lot of it. Personal insurance (auto, home, etc) is a different animal (and license!!) from Business insurance, which is totally different from Life and Health insurances. Plus you make money selling memberships and generate referrals. However, you can definitely make $50k in your first year in personal lines depending on what type of agency you go to. Interviewed today at a what I've heard to be a good Insurance Company (Fortune 100). Insurance is one of those industries where you can make a lot of money but at the absolute expense of your sanity and soul. Vendors and uplines (FMO, IMO) are welcome to share useful I spent 10 years on the carrier side as a captive agent moving up the corp ladder and made the move to a large national broker 4 years ago. Realistically, how likely am I to be successful in my first year in the insurance business? 20 votes, 11 comments. Also, the agency owner has to make a profit. " Picture this scenario. An experienced servicer can make six figures in a few years' time depending on career path. I sell 30-35 autos a month 10-15 homes and 3-5 boats and umbrella policies at AAA and made 191k last year. The salaries of insurance agents often comprise a base salary plus commissions or bonuses. Also maybe 5% or less of insurance agents actually last longer than a year. ocgfk tsbzhqlnk nnsl qxhno hgj tnx wbnlqxkx tec faqwhn gjpw iptogh dfasw vwzsqq fhdmemy bsbyr