#insuranceagent

Only a few businesses, excluding the financial services sector, provide the possibility for relatively inexperienced workers to earn a sizable salary in their first year of employment. A few jobs in the financial services sector also give newbies the chance to start off earning as much money as a life insurance agent does. An insurance salesperson who works hard may make over $100,000 in their first year of sales.

Success as an insurance agent, however, is not free. Because of the difficulty of the work, most people leave the sector sooner rather than later. The word "no" is said by insurance brokers far more frequently than the word "yes." Additionally, it's not unusual for the word "no" to be used while using a significant bit of profanity and the figurative "door in the face." Furthermore, a lot of individuals have a negative opinion of insurance agents; some even compare them to glorified con artists. However, for individuals who can handle the possibility of rejection, being a life insurance agent might be worthwhile because of the income and flexibility.

Salary

As of 2018, the typical yearly salary for an insurance agent was $50,600, according to the U.S. Bureau of Labor Statistics. The salary ranges widely for this occupation, with the lowest 10% making less than $27,500 and the highest 10% making more than $125,610.

Depending on the organization they work for, and the sort of insurance they are selling, an insurance agent's yearly salary might vary. They may be paid based only on a salary, on a salary and commission basis, or on a salary plus bonus basis. The commission element contributes to the wide range of an insurance agent's profits. The majority of independent insurance brokers only make money via commission.

Commission Example

Ryan purchases a whole life insurance policy from the insurance agent, which protects them both for the rest of their lives (assuming they continue to make their premium payments). The selling agent receives 90% of the premium for the first year and 5% of any subsequent renewals from Uni's insurance provider when selling whole life plans.