How much can I make as a Life Insurance Agent
Becoming a Life Insurance Agent can be a lucrative career. As with other careers, the amount you earn is a direct result of what you put into it. USA Coverage can train you and provide the highest quality leads and sales tools available. A well trained, well disciplined person can do very well as a Life Insurance Agent. Below is a brief example of a typical Life Insurance Agent working 300 internet leads per month. Please note, some Agents make significantly more and some make less.
On average, a term life or whole life insurance policy pays 75%** of the yearly premium to the Agent that produced the business.
The average life insurance yearly premium is $700. One assumption is that for each sale, an Agent could earn $525 in commission on average.
Exclusive life insurance leads can be purchased for $25 on average. We’ve noticed a lead to application percentage of 15%***. For every 100 leads you work, a good Agent can expect to close
A full-time life Agent can work 300-500 leads per month. An Agent working 300 leads per month could assume that they will close 45 policies.
If you were to sell 45 policies a month with average commissions of $525 per policy your commissions would be approximately $23,625 per month.
Purchasing 300 leads per month will cost on average $7,500 per month .
Taking your $23,625 in commission minus the $7,500 in lead expense your net take home would be approximately $16,125 before taxes per month .
If you have the time and discipline to work 300 internet leads a month then we’ll show you how to earn over $20k per month. Contact USA Coverage today. we’ll provide top notch training, customer relationship management tools, high quality exclusive leads and much more.
** 75% commission is standard, higher commissions are available and are based on production levels.
*** 15% close rate is average, some Agents close 20-30% of their leads.Source: www.usacoverage.com